Sensex Technical View :
Although the index bounced back from the lows of yesterday but this has led to a much tighter range in the last 2-3 sessions which is 14700-15150 approximately or around 4350-4520 on Nifty.
On the upside resistances are placed at 15550.
Continue to be stock specific as the major action has shifted
Stocks to watchout for :
yuken has moved from 76-78 to 88 book part. Tata Elexsi needs to sustain above 176 for further move.IFCI wait for 54 cross.Omnitech and Helios gave a spurt.Godawari BGR wait for crossover. Take soln stop 37.
Aditya Birla Nuvo looks good for short term tgt of 1035-1050.Buy on declines to 950 stop 930.
LIC housing continues to stay strong with sideways consolidation. Buy if stays above 645 tgt 680/730 in short term. Stock has moved a lot so keep a stop of 3 % .
Investors can have a look on Easun Reyrolle for medium term with a stop of 68. Do ur research.
MAN inds could give a breakout if closes above 54.
High risk trade for short term -- Buy GHCL above 42 stop of 39.5 tgt 47.
IOn exchange a smart 7% move today. Maintain bullish view for tgt of 125.Even Hikal , Bombay burmah and ITD cementation good too for investors.
ORG informatics could be another ckt hitter like earlier speculative picks like Om Metals,Camson ..........Only for penny lovers.
Extremely Short term pick Took a very good support at 203-205 levels
Buy only above 212 for a tgt of 217 219 sl 204
Grasim Chart - Hourly:
Grasim formed a bullish ABCD pattern. Long trade is already triggered, one can go long on dips tomorrow.
Ranbaxy Intraday Chart - 5 mins:
Update on Bullish Gartley in Ranbaxy, it opened at 305.2 and started falling down, so no trade is triggered on Ranbaxy. If tomorrow we take trade above 305.2 + filter then risk/reward would be too high. Hence only high risk trades can take the trade. Above is the updated chart.
BUY : WELGUJ CMP 212 (DONT MISS )
- 5 ema is at 4453;
- Overbought level is 4576, & Oversold is 4330;
- Nifty still stuck in a range;
- 14 day RSI is at 49, ATR is 123;
- 20 SMA is 4541, 20 EMA is 4482.
- Nifty would try to touch the Overbought levels, although it's just not seeing any real buying.
Extremely Short term pick Took a very good support at 203-205 levels
Buy only above 212 for a tgt of 217 219 sl 204
Grasim Chart - Hourly:
Ranbaxy Intraday Chart - 5 mins:
BUY : WELGUJ CMP 212 (DONT MISS )
Nifty (Spot) :- Closing - 4453.45. Sell nifty below 4425 with sl 4455 for tgt 4390-4375-4360.Below 4350 heavy panic selling will see. Buy nifty above 4495 with sl 4455 for tgt 4530-4550-4570. |
buy nifty- above 3597 sl- 3569 tar- 3616/3654 sell nifty - below 3520 sl- 3547 tar- 3470/3434. nifty range for d week - 3520-3750 ( break n tarde any side will deciede future trend)
KPIT Infosys made a 52 week high yesterday. Both these charts are daily. The IT sector is showing a good relative strength and parking some of your funds in this sector can be a good idea.
For the past three days, the Nifty has compressed its action between a range - 4500 to 4380. This is good news, because such a narrow range is not likely to be sustained. Therefore, a breakout / breakdown is imminent. What will be the direction? Why not let the market tell us this.
wildeazoscar writes in comments - "And what is the big move target if 4730 is broken on upside? At least an amount equivalent of the trading range? That should guarantee 5660 at least!!"
Here is a valid point, and the I have thought about it, without reaching a conclusion. The Nifty is in a large trading zone between 3930 - 4730 approximately. A breakout should see an 800 point move (width of the trading range) which gives 5530. On the downside we have a target of 3130. For most of us, 3130 is easier to accept since we did see these levels just six months ago, but 5530?
Well, among numerous posibilities - (1) The upside target is reached in many months, with lot of volatility, (2) The target is not touched at all, (3) The Nifty creates the mother of all bubbles, taking itself to 7200 (target for the inverted head and shoulderwhich gets confirmed around 4760).
For 3930 to breakdown, we will enter a bear market. Why not? If the two reliance siblings keep on fighting, the Govt could one day announce gas a a national resource (put the gas under govt control) and that will bring the market down to 3100.
So, take one step at a time. Currently, we are looking at a narrow range. That breakout / breakdown will give a trending move.
KPIT Infosys made a 52 week high yesterday. Both these charts are daily. The IT sector is showing a good relative strength and parking some of your funds in this sector can be a good idea.
For the past three days, the Nifty has compressed its action between a range - 4500 to 4380. This is good news, because such a narrow range is not likely to be sustained. Therefore, a breakout / breakdown is imminent. What will be the direction? Why not let the market tell us this.
wildeazoscar writes in comments - "And what is the big move target if 4730 is broken on upside? At least an amount equivalent of the trading range? That should guarantee 5660 at least!!"
Here is a valid point, and the I have thought about it, without reaching a conclusion. The Nifty is in a large trading zone between 3930 - 4730 approximately. A breakout should see an 800 point move (width of the trading range) which gives 5530. On the downside we have a target of 3130. For most of us, 3130 is easier to accept since we did see these levels just six months ago, but 5530?
Well, among numerous posibilities - (1) The upside target is reached in many months, with lot of volatility, (2) The target is not touched at all, (3) The Nifty creates the mother of all bubbles, taking itself to 7200 (target for the inverted head and shoulderwhich gets confirmed around 4760).
For 3930 to breakdown, we will enter a bear market. Why not? If the two reliance siblings keep on fighting, the Govt could one day announce gas a a national resource (put the gas under govt control) and that will bring the market down to 3100.
So, take one step at a time. Currently, we are looking at a narrow range. That breakout / breakdown will give a trending move.
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