NEWSLETTER

(NOORESH)

Sensex Technical View :

Surprise Surprise!

Sensex continues to hold up in spite of global weakness and holds above 14600 level. The levels of 14500-14600 have been a very good support with almost 4-6 hits around that zone.

The no of times index has tested 14500-14600 makes it more brittle and it becomes clear for a short term trader is to keep a stop of the same or continue to wait for a clear move beyond 15500. Any break below 14500 would take the index to 13700 levels also.

In simpler terms its a stale mate where the index itself is indecisive about the next move so one is better of watching and reacting on signals frm the market.

Stocks to watchout for :

Continue to maintain the view to stick to defensives and be very strict with stops/keep volumes low and trade less.

Great Offshore

Earlier covered at 310-330 levels the stock did rise up to 390 and was sideways for quite some time. The stock can be bought on dips to 370-385 with a stop of 360 for a tgt of 450 also possibly.

Guj Alkalies, Strides Arcolab, Tube investments,Apollo Tyres are fresh breakout on charts but already moved up sharply but could be a short term trade on intra declines

Speculative buying seen in Country Club on back of Mahindra Holidays IPO.

Insecticides India Ltd

The stock looks interesting in the agri space with pesticides products. Book value of 60 + low debt and p/e of less then 5 ( rest ppl can research in details) . Technically volumes are encouraging in the last few weeks and can tgt 70-90 levels in medium term. half of the intended expsoure can be taken at current levels.

Please do your own research!

MY CHART

Nifty :: As we say in yesterday post avoid sell if open gap down.. Once again repeated buying seen in decline near strong support..Nifty mad an Thrusting line bullish candle pattern.. May be this time we see failure attempt of bulls.. Be careful at higher level all world indices made an short term top formation in chart.. Even our both indices Sensex and Nifty almost made double top at high.. Wolfe wave still alive.. Watch first resistance 4532 and above it next strong resistance 4584.. And support 4474/4416.. Our strategy for 17^th Jun sell at high (S.L 4584) buy on deep (S.L 4416).. Resistance for up move at 4532/ 4550/4584/4636/4690… Supports at 4474/4416/4365/4307..

Inder Bhatia)

The Indian market opened on gap-down but bounces back in second half and close in green zone .After cracking lower trendline nifty still close below trendline seen above chart.On the upside nifty will face resistances around 4553-4600 levels and trading below4479zone it can test 4450-4400 levels .

nifty gap didn't hold as ril cracked intraday.

eod chart shows supports as per short and intermediate term for today

Axit D ShahHello Friends,

Nifty Unable to cross & Close above previous high of 4675 - 4690 & hence profit booking started as updated in our last post on this web.

Nifty hits target of 4488 as Mondays close is 4484.

Technically Nifty can test important support of 4444 / 4411 / 4381 & may bounce from these levels.

Nifty spot Close is about 200 points down from current highs in just 2 days time.

Nifty Futures closes at high premium at 4520 to spot close of 4484.

Nifty Spot resistances 4520 / 4545 / 4585

PROVISIONAL FUND FLOW FIGURES RUPEES CRORES FOR 15 JUNE 2009 :

Fii -412
Dii -589
Fii (derivatives) -412
Index Futures -398
Index Options +130
Stock Futures -141
Stock Options -4


News :
Rail Budget on July 3, 2009 Friday instead of July 1, 2009
Union Budget on July 6, 2009 Monday instead of July 3, 2009
Economic Budget on July 2, 2009.

On July 3, 2009 there is holiday in U.S on account of Independence day so this may be the reason for change in dates for delivering budget.

ATF Prices hiked so Airlines stocks may be under pressure.

Infrastructure stocks may remain under pressure these as there is an NFO going on so History says that when ever such Biggies come out with Sector Specific NFO's correction is bound to happen in such stocks/sectors or markets.

World Markets are under pressure as G20 Members have hinted to get back the amount given as Stimulas.

Yesterday market open gapdown and recover then second off andalso volatile it. Today market open huge uptrend and the nifty will go further uptrend continued upto 4680 levels. Yesterday nifty will close 4520 levels this is the good support level for nifty this level market will bounce to bullish trend continued it. The nifty uptrend trend levels 4520,4540,4560,4580 and 4620 levels. Suppose the nifty will come downside trend for 4420 to 4320 levels.

Nifty Spot

R-4487/4569/4620.
S-4437/4355/4305.

Nifty fut

R-4503/4575/4621.
S-4457/4385/4339.

Sensex

R-14867/15113/15267.
S-14713/14467/14313.

Yesterday our buy call not active . But sell call three target achived. Today Nifty Buy abv 4500 SL 4460 tgt 4520,4540,4560,4590 and 4620 levels. Nifty Sell Below 4460 SL 4500 tgt 4440,4420,4380,4360 and 4320 levels.

(Ilango)

Santy

Today Nifty opened below yesterday’s close and retraced back slightly above 4590 in early session and then continuously traded lower all day through hitting low at 4470 and finally closed at 4484. As I have mentioned in my previous post, our SELL order executed at 4530 for target at 4500. Tomorrow nifty could go lower and touch 4550, however a minor support is seen at 4450/30. If market comes down to 4450/30 level in first hours, then wait and watch how it reacts at this zone. If Nifty finds support and goes higher after initial dip ( always check higher highs and higher lows pattern for BUY and lower lows and lower highs pattern for SELL) then BUY above 4450/60 with stop loss at 4420 for target at 4510/4530.

It has been a long time since we posted charts. We have seen markets zooming up in this time. Currently Nifty is in a rising channel and has experienced channel resistance. There has been some negative divergences in daily chart. We have to see if Nifty sustains above 4300 and moves up. If not we can see it drifting to lower levels. Budget also coming up, so keep tight stoploss and trade accordingly.

(SVShah)

Daily Market Outlook: 17 June 2009

It started as a bad day for the global equity markets and India was no exception. In the morning Sensex opened gap down and immediately touched a low of 14621.97 showing a decline of more than 250 points. With global equity markets trading in red it was quite obvious. But despite the global weakness the Sensex managed to recover and closed in green. The scrips from Banking, PSU and Power sector lifted the Sensex in the positive zone. Surprisingly the madcap and small cap indices again outperformed the Sensex. While Sensex closed at 14957.91 Up 82.39 points, Nifty closed at 4517.80 up 33.80 points. Market breadth was positive with 1642 advances and 1007 declines.

NIFTY (4517.8)

Resistance : 4565 / 4595 / 4620

Support : 4485 / 4450 / 4435 / 4380

SENSEX (14957.91)

Resistance : 15115 / 15270

Support : 14840 / 14715 / 14650 / 14465

NIFTY FUT (4529)

Resistance : 4575 / 4620

Support : 4455 / 4385

MKT COMMENTS

NIFTY FUT OI up 3.90% with 9% decreasing volumes indicating forming of long positions.

We expect positive move with volatility at higher levels.

On Wednesday,Opening Is Flat To Up,

Buy NIFTY Above 4550/60,Sl 4530,Tgt 4585/4605/20

Sell NIFTY Below 4530/20,Sl 4550,Tgt 4490/50/20

SBIN (1714) [Delivery : Buy with Sl 1690,Tgt 1745/65+]

Buy Above 1755,Sl 1745,Tgt 1775/95

Sell Below 1695,Sl 1705,Tgt 1675/1655

RELIANCE [Risk Lovers : Sell Below 2140,Sl 2165,Tgt 2125/15/2085/2075+ ]

Buy Above 2165,Sl 2155,Tgt 2185/2205

Sell Below 2125,Sl 2135,Tgt 2105/2080

BUY (Delivery)

SATYAM,Sl 70,Tgt 90/100/110+

JPHYDRO Above 90/95,Sl 85,Tgt 100/105/110

GTOFFSHORE,Sl 385

MRPL Above 95,Sl 85

IDBI Above 110,Sl 105

GUJALKALI Above 115,Sl 105

INDUSINDBNK Above 80,Sl 75

BUY

CAIRN,Sl 230,Tgt 255/65/70

BHARATFORGE Above 175,Sl 170,Tgt 180/85/90+

COLGATE Above 565,Sl 555,Tgt 580/90/610

MASTEK Above 240,Sl 230,Tgt 250/55/60

NALCO Above 370,Sl 365,Tgt 375/80/85

WIPRO Above 400,Sl 390,Tgt 410/15/20

POWERGRID Above 120,Sl 115,Tgt 125/30/35+

ZEENEWS Above 43.5,Sl 42.5,Tgt 45.5/46.5/47.5+

BERGERPAINTS Above 44,Sl 42.4,Tgt 46/47/48+

SELL

UNIONBNK Below 225,Sl 230,Tgt 220/15/10

JETAIRWAYS Below 260,Sl 270,Tgt 255/45/35/30

FUTURES

Buy CHENNAIPETRO Above 189,Sl 186,Tgt 191/92.5/94.3/95.6/97.4/99.8/201/03 (Lot Size : 3600)

Buy BHEL@ 2115/35,Sl 2105,Tgt 2175/95/2210/15 (Hold Longs,If Closes Above 2200)

Buy INFY Above 1710,Sl 1680,Tgt 1740/50/60 (Close Above 1750,Hold Longs)

Sell RIL@ 2205/2185,Sl 2225,Tgt 2140/20/05

Sell RPL Below 135,Sl 139,Tgt 133.3/132.4/131.4/129.7/28/26/25/24/22 (Lot Size : 3350)

(ss)

It was a good up trending day with some reactions thrown in. Late in the afternoon, a scallop pattern developed on the 5 minute charts. The breakout did not last long and finally pulled back to the region of the breakout thus making it a kind of cup and handle pattern.

The price action in the closing minutes seems to have negated the cup and handle but anyway, let's see if we have a breakout tomorrow morning.