Sensex Technical View :
Sensex has given the first little weak signal by breaking the recent bottoms around 15200 in the day but managed to recover back close to those levels. On the downside important supports are placed around 14750 which is a decider for the short trend till then continue to trade with positive bias on specific stocks.
Till it doesnot cross 15600 i would continue to stick to the cautious line of not being leveraged !!
Stocks to watchout for :
Have been consistently mentioning about booking partial profits and keeping strict stoplosses to conserve gains . This strategy helped us to clean our trading positions little early as well as clearing the trading positions to minimal helps taking a fresh perspective.
So the crack in the day actually makes lot of leverage traders cautious which is a good thing to take in ur stride.
Welspun,Unitech,NTPC gave good gains. Got stopped out in Neyvyeli, Nagar const. Henkel,Emami maintain bullish stance.
Some of the super client trades: Welspun 205 to 220/230. NTPC 205 to 220. Rico Auto 18 to 30, Satyam 80 to 100-110. Unitech 77 to 92 .... the list goes on ..............
Report for the month of July will be posted in 1st week.
CROMPTON GREAVES
Stock has multiple tops around 310. Buy if stays above 310 for a tgt of 330-350 in extreme short term. Stop of 299.
Power Finance
Day trading buy above 232 stop of 225 tgt 245. or buy around 225 stop of 220 tgt 232.
Kingfisher Airlines 55.5 and Tech Mahindra 834 are levels above which quick traders can look for momentum move.
Investment Picks which fundamental people can have a look i am still to look in deeper. Technical Bias as of now.
ION Exchange
Hindustan Tin works
Ganesh Housing
Dow Jones is nearing for GANN Resistance trendline near 9200-9250 Zone. Trend reversal is nearing for Dow Jones
However breakout above 9300 will target 11000-11500 in Dow Jones
Nifty :: And finally Engulfing bear candle pattern work.. Nifty move down sharply from supply zone.. Still midterm momentum is up and that’s why buying seen in every decline.. But short term momentum turns negative after today’s candle.. Slowly-slowly as we say volume increase, and its good sign for our long bullish Inverted H&S pattern as far as Nifty stay above 4150.. Till then for short term our strategy for 30th July Sell at high (S.L 4625) buy in deep (S.L 4420).. Resistance for up move at 4529/4548/4594/ 4600/4625.. Supports at 4462/4420/4390/4338…
The Indian market opened on weak note on weak global weak cues and close with negative zone .As we had mention below 4529 rising wedge will crack and kiss low 4410 levels .For coming session 4542-4560 zone will act resistances and if nifty trade below 4463 it likely to test 4427-4342 zones .
Tata chemicals is now at a zone where previous support has now become a resistance.
260-275 is a uncertain zone.Once that is crossed it could go past 300.
NIFTY VIEW :- ABOVE : 4615.80 - 4655.55 - 4707.70BELOW : 4541.00 - 4508.80 - 4481.00
RIL IND VIEW :- ABOVE 1955 - 1988 - 2023 - 2079 SUP 1919 - 1881 - 1818 - 1777
GSPL ABOVE 71.20 - 77 - 84 ONE WAY MOVE BIG BLAST
JP HYDRO RADY FOR BIG BLAST ABOVE 86.60 - 92.20 - 99.80 - 110
MAHINDRA HOLIDAY ABOVE 394 - 418 - 455 WHO IS BUYINGG ??? DID U KNOW
Nifty Intraday Chart - 5 mins:
Nifty clearly formed a trading range from 27th July till yesterday, demonstrating price distribution. It gave a break down from the range giving hints to the change in the short term trend. Now 4527 - 4533 may act as good resistance.
Nifty - Hourly Chart:
On the higher side 4527 - 4533 may give initial resistance. Nifty has to cross this range decisively to give some strength to bulls. If this range is taken out with confirming volumes then the chances of reaching the top line (4608 levels) is prominent. 4680 may act as next major resistance.
At present Nifty is looking weak, it has to move up with good volumes or gap up above the resistance levels (which is unlikely for tomorrow) to resume the up move. On the lower side it may face resistance at 4460 levels. Below that it may reach up to yesterday's low. 4390, 4340 may act as next support levels.
The Indian market opened on weak note on weak global weak cues and close with negative zone .As we had mention below 4529 rising wedge will crack and kiss low 4410 levels .For coming session 4542-4560 zone will act resistances and if nifty trade below 4463 it likely to test 4427-4342 zones .
Tata chemicals is now at a zone where previous support has now become a resistance.
260-275 is a uncertain zone.Once that is crossed it could go past 300.
NIFTY VIEW :- ABOVE : 4615.80 - 4655.55 - 4707.70BELOW : 4541.00 - 4508.80 - 4481.00
RIL IND VIEW :- ABOVE 1955 - 1988 - 2023 - 2079 SUP 1919 - 1881 - 1818 - 1777
GSPL ABOVE 71.20 - 77 - 84 ONE WAY MOVE BIG BLAST
JP HYDRO RADY FOR BIG BLAST ABOVE 86.60 - 92.20 - 99.80 - 110
MAHINDRA HOLIDAY ABOVE 394 - 418 - 455 WHO IS BUYINGG ??? DID U KNOW
Nifty Intraday Chart - 5 mins:
Nifty - Hourly Chart:
At present Nifty is looking weak, it has to move up with good volumes or gap up above the resistance levels (which is unlikely for tomorrow) to resume the up move. On the lower side it may face resistance at 4460 levels. Below that it may reach up to yesterday's low. 4390, 4340 may act as next support levels.
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