NEWSLETTER

(NOORESH)

Sensex Technical View :

Nothing new on index to update so stick to stock specific !

Stocks to watchout for :

Punj Lloyd set for 240 , Jindal Steel 2850 , Glenmark nearing 1st tgt 270. Unitech stop 78

Neyvyeli Lignite

The stock has multiple tops around 135. Sustaining above the same can tgt 150 in near term. Stop would be 129 on crossover.

Camson Bio can move up on ckts after good buying seen in agro related space. Sabero on ckts. So expect some moves here.

Compact Disc ... Watch for a move above 64 for good trading gains

MY CHART

Nifty :: And finally some consolidation take place near overbought zone as we say in yesterday post.. V shape rally required some more correction for healthy up move. As far as stay above strong support zone 4390/4377/4372 nothing to worry for bulls.. Now watch important resistance level 4495/4540 in up move and support zone 4390 to 4372.. All world indices in bullish mode that’s why avoid shorting near strong support zone.. Our strategy for 22nd July if Nifty turn down buy in deep (S.L 4372) Sell at high (S.L 4575).. If Nifty move up sell near resistance (S.L 4575) buy in deep.. Resistance for up move at4495/4540/4564/4575.. Supports at 4390/4377/4372/4354/4320..

MY CHART

Dow Jones :: Exactly close near Inverted Head and Shoulder neckline breakout level.. Left Shoulder and Head conform volume but still right Shoulder required neckline breakout with high volume..If it is then we see Dow Jones target near 11,000.. ..!!
(All you know we always plot wave count or any charts patterns in advance.. We know this is not right time to plot such kind of bullish structure in Nifty and Dow chart at over bought level. But it is…lets see what happen in coming day’s)

(Inder Bhatia)

The Indian market opened marginally up on positive cues from us market and close in red zones.For the coming trading session if indices convincingly trade above 4523 it can test 4568 zones .On the lower side 4383 -4370 will act as support the day .

Axit D Shah

Hello Friends,

NifTiee Close 4469
Supports : 4444 / 4404 / 4384
Resistances : 4494 / 4525 / 4545

Markets yesterday managed to close below 4488 levels, A Tug of War was seen between Bulls & Bears around these levels. Last time we hinted that if we close above 4488 for minimum 2 days then markets are headed towards recent high. But the condition is not fulfilled as on Monday it managed to close above 4488 at 4505 but on Tuesday it closed at 4469. Close is nearby to 4488 levels so tomorrows first half hour of trading levels can play important role.

Markets may turn volatile near major resistance zones as Short Sellers everyday come out & start shorting heavily but end of day they are trapped which happened in last many days. They say Markets Overbought etc etc etc , but our Question is that Cant Markets Stay in Overbought zone in few days or months ????? Also one day bears are going to win so that time people must party with them as after so many days they managed to bring markets down.

Provisional Fund Flow Figure in Rupees Crores for 21 July 2009

Fii -251
Dii -7
Fii(derivatives) -514
Index Future +321
Index Options -451
Stock Futures -391
Stock Options +8

Bramesh

Charts speak THousand Words ICICI clear cut resitance at 798 Not able to cross from past many trading sessions

Buy above 798 for a tgt of 806 817

Yesterday market heavy and high volatile and closing negative for nifty 4460 levels. Today market will open also negative side the nifty it will break 4440 level again the nifty will come downside for 4420 level this level also break the market the nifty further downside for 4420 to 4320 levels only. Suppose the nifty will cross above 4520 levels the market bullish for 4620 levels the nifty will trade above 4620 level market will fully bullish trend in market is all technical rally for break previous high it will go further high for 4720 level to 4920 levels. This time market's higher level profit booking coming in any time. The market defently come downside for 4320 levels only.

Nifty Spot

R-4480/4516/4565.
S-4430/4390/4345.

Nifty Fut

R-4475/4507/4545.
S-4435/4405/4365.

Sensex

R-15085/15210/15360.
S-14935/14806/14656.

Yesterday our buy call first tgt only achived. Sell call not active. Today Nifty buy abv 4475 SL 4440 tgt 4490,4500,4520,4540,4560,4580 to 4620 levels. Nifty Sell Below 4440 SL 4475 tgt 4420,4400,4380,4360,4340,4320 to 4220 levels.

(Ilango)

A mild pause..Rising 5 DMA is the likely support for tomorrow.
10.00AM close below "Hourly High Ema" set the "Correction mode" for the day. A mild one. Watch the support levels rising.


Daily trend is firm with supports rising by the day.
macd sets in a correction. Blue(21hr @ 4425) & Red(35 hour @ 4390) may offer supports.

We have two possibilities: "abc" structure will have corrections upto 4390-4410 or lower dn to 4350 before moving higher. "5" wave structure goes higher immediately upto 4550-4600 area before having some corrections.

Well, today we did not see any pattern ( higher highs or lower lows) for either BUY or SELL. Today nifty was hovering in a range from 4440 to 4490 and finally closed at 4469. By looking past three trading sessions opening and closing levels, it seems nifty is going to break out in to either UP direction or DOWN direction. So, tomorrow if nifty opens at or near today’s close and goes higher by making higher highs and higher lows pattern, then BUY at breakout near 4500 for target at 4570/90. In the case of less market activity, stay away and wait for next signal

Daily Chart


Half Hourly Chart

Daily Chart

It was a day of consolidation after the sharp run up , with a higher high and a higher low on Daily Charts. Overhead resistances are many, so good momentum and volumes are necessary to overcome them. The Daily Oscillators are strong and that of half hourly charts are in neutral zone. We can expect consolidation for some more time till the intraday oscillators are oversold.

I have drawn a new downtrending channel shown in red, which I would be following , rejecting the channel earlier drawn, shown in blue on the second Daily Chart. This is beacause the new one is more well channelled.

All relevant levels shown on charts.

(SVShah)

NIFTY (4469.1)

Resistance : 4480 / 4515 / 4565 / 4585

Support : 4425 / 4390 / 4340

SENSEX

Resistance : 15215 / 15365

Support : 14935 / 14805

NIFTY FUT (4473)

Resistance : 4510 / 4545 / 4565

Support : 4440 / 4405 / 4380 / 4365

MKT COMMENTS

NIFTY FUT OI down 1.36% with flat volumes indicating unwinding of long positions.

Profit booking will emerge on every rise।

On Wednesday,Opening Is Flat To Up,

Buy NIFTY Above 4485,Sl Below 4470,Tgt 4510/25/45/65/85

Sell NIFTY Below 4465,Sl Below 4480,Tgt 4440/20/05/4390/65

BUY (Positionally)

MPHASIS Around 410/25,Sl 400,Tgt 435/45/55/65

PUNJLOYD Around 230/35,Sl 225,Tgt 240/50/60/70

JINDALSAW Around 405/15,Sl 400,Tgt 425/35/45/55

JPASS Above 225,Sl 215,Tgt 235/45/55/65

UNITD PHOSPHORUS Above 155,Sl 145,Tgt 165/75/85/95

PATNI

GRASIM / RANBAXY / SUNPHARMA Are In Over Bought Zone – Be Cautious

BUY (Intraday)

PFC Above 230,Sl 225,Tgt 235/40

ICICI Above 795,Sl 785,Tgt 805/10/15

PNB Above 730,Sl 725,Tgt 735/40/45

SINTEX Above 200,Sl 195,Tgt 205/10/15

ICSA Above 180,Sl 175,Tgt 185/90

IDFC Above 145,Sl 140,Tgt 150/55

PFC Above 230,Sl 225,Tgt 235/40

AXISBNK Above 895,Sl 885,Tgt 905/10/15

SBIN (1712),Sl Below 1705,Tgt 1730/40/50/60

ACC

Buy Above 830,Sl 825,Tgt 835/45/55/65

Sell Below 820,Sl 825,Tgt 815/05/795/85

NAGARCONS

Buy Above 135,Sl 134,Tgt 137/38/39/40

Sell Below 133,Sl 134,Tgt 131/30/29/28

M&M

Buy Above 780,Sl 770,Tgt 785/95/805/15

Sell Below 770,Sl 780,Tgt 765/55/45/35

SATAM

Buy Above 96,Sl 95,Tgt 97/98/99/100

Sell Below 94,Sl 95,Tgt 93/92/91/90

WELGUJ FUT (192.05)

Support : 190 / 188.5 / 186

Resistance : 192.5 / 194 / 196.5 / 198 / 200 / 205

(ss)

As we have seen in the previous posts here, the Auto sector is a clear outperformer. Here's Maruti making an all time high.

ss)

Nifty Futures is likely to retest the June high of 4703. Two simple observations will help you in coming to this conclusion - we are now above the neck line of the famous failed head and shoulders pattern and also the resistive trendline drawn from the June highs is broken to the upside. Now there is nothing stopping this! Go baby,go!

Nifty Chart - Daily:

An inside bar is formed in Nifty chart on daily time frame. If yesterday's low of 4440 is broken today, we may see some more down move in intraday.

Nifty Chart - Hourly:

Toady Nifty took support from previous resistance levels of 4450. Now this level becomes crucial, if this support breaks convincingly bulls may weaken temporarily.

On the higher side day before yesterday's high may of 4518 become first resistance. Above which it may reach up to 4550 then 4575 levels. 4620 may become next major resistance.

On the lower side Nifty may take support from yesterday's low of 4440 levels, below which the small gap which was left unclosed may give support for today. Below that bears may gain little strength to take market towards 4345 levels.

ndrodeep Banerjee

On Tuesday markets opened marginally higher but suddenly gave up the gains and slipped into negative territory as profit booking emerged, as expected by us and indicated in our yesterdays post, after a sharp rally in the previous session. The investors kept aside all the strong cues from the US and the Asian markets to drag the markets down into negative territory immediately after the opening.

After a positive opening markets turned extremely choppy and volatile with negative bias on profit bookings emerging before the fno expiry.

However strong European markets tried to boost some sentiments and helped markets to gain some strength to reach into the greens but failed to sustain any upside and slipped again on selling pressure mounting in.

I have been saying for last many days that 3967 will prove to be the crucial support level for the Nifty, if it would had got broken on closing basis then it could have been the beginning of bear trend in the markets again and the markets would have witnessed 3200—3300 levels once again, but above 3967 level bulls may take the charge any time to take the market to 4400 levels.

Above this level of 4400 markets may witness profit booking any time ahead of fno expiry.

Nifty finally closed at 4469.10 loosing 33 points or 0.74 % on negative side.

Trading Strategy for 22nd July, 2009

Intraday Support for the market shall be 4435 & 4387.

While the market will experience resistance at 4506 & 4537.

Best Strategy shall be to:-

Buy above 4488 with Stop Loss of 4446 and

Sell below 4446 with Stop Loss of 4488.

Intraday Call & Playing the Trend Trading Strategy for 22nd July, 2009

If Nifty Trades above 4488 then Buy

BHEL
Buy above 2226 with Stop Loss of 2202
For Target 2368 –2392

SAIL
Buy above 173 with Stop Loss of 170
For Target 177 –179

IDEA
Buy above 77 with Stop Loss of 75
For Target 79 –81

If Nifty Trades below 4446 then Sell

STERLING
Sell below 602 with Stop Loss of 610
For Target 586—578

SUZLON
Sell below 90 with Stop Loss of 92
For Target 88—87

GAIL
Sell below 325 with Stop Loss of 329
For Target 319—316