newsletter

(Nooresh Merani)

Sensex Technical View :

Sensex has been struggling around the 17k mark and technically this is a difficult resistance band which makes it a little dicy as the risk-reward is shifting from further fresh longs.

Ranges of importance 16900-17200 and 17700. On down side 16400 is an important level for near term.

The dilemma now is the broader market looks very interesting compared to the index heavies. So it seem the solution is Short Nifty futures/or buy 4800/4900 puts as a hedge to short term longs in Midcap/Large cap stocks.

Sharyans : Interesting bet on fundas also for long term investors.

Nilkamal Plastics : Earlier recommended to clients from 75 to 90 and then 90 to 150. Possibly a fresh move on sustaining 157.

Mercator Lines : Wait for confirmatory moves with volumes.
Alok Inds : Short term traders can keep track for coming weeks.

Stocks to watchout for :

Petronet LNG if crosses 78.5 expect a move to 82-88 in extreme short term.

GAIL is firming up on charts if continues to close above 365-370 expect a quick move above 400.

Pure fundamental Investors can look towards Indian Metals and ferro / Saraswati Industrial Syndicate /Revathi Equipments /Karur Vysya Bank for long term safe returns over 1 yr.

Small Cap risky ideas with 1 month view for a tgt of 30% stop 8% frm cmp :

Hanung Toys

D S Kulkarni

Mudra Lifestyle 

 

MY CHART

Nifty :: Once again an green candle with low volume.. Face strong resistance before aggressive trader short stop loss 5036.. Short term chart structure confusing in side way distribution pattern..Be careful at higher level from bottom Nifty constantly made an a-b-c zigzag pattern in each leg.. And in last leg final C wave may be over or near to end. Still intermediate bullish structure intact as far as stay above 4900/4882 .. Use this stop loss strictly for mid term buying ..For 30th Sep watch two strong resistance 5020/5036.. Our strategy for 30th Sep up to 5036 sell at high (S.L 5036) buy in deep (S.L 4882). Resistance for up move at 5020/5036/5046/5070/5101.. Supports at 4985/4960/4931/ 4900/4882..
(If Nifty break 4959 without crossing 5020 then chances of breakdown is increasing in coming days..)

 

 FOR DATE 30-9-2009
SCRIP = CHENNAI PETROLEUM CORPORATION LIMITED (NSE),
SCRIP CODE = CHENNPETRO,
PREVIOUS CLOSE = 262.85,
STOP LOSS = 254,
TARGET = 325.
FOR INTRADAY MOVEMENT OF THE STOCKFILTER PLEASE Click Here!
(OR CLICK THE LINK ABOVE LIVE SENSEX WATCH.)

CHART AS ON 29-9-2009

WITH A CONSIDERABLE RISE IN VOLUMES, THE STOCK HAS GIVEN A FRESH BREAKOUT IN THE LAST TRADING SESSION. THE STOCK WAS IN A SUSTAINED SWING SINCE SEPTEMBER AND IS IN A STRONG UPTREND SINCE JULY.
THE STOCHASTICS AND RSI HAVE GIVEN A POSITIVE CROSSOVER.
TECHNICAL ANALYSIS  AND PORTFOLIO MANAGEMENT INDICATE THIS COUNTER GOOD FOR A SHORT TO MEDIUM TERM RANGE.
STRICTLY MAINTAIN AND FOLLOW THE STOP LOSS.

 

NEWSLETTER

(A K Prabhakar)

Keynes economist or a Investor

Which is the best investment method?

There are many method of investment Fundamental, Technical, insider news, investing using economical cycles, investment based on greed and fear( investing when Sensex was below10,000 after 50% correction from peak), investment based on dividend yield, investing based on bottoming of industry cycle(Hotel & Textile in worst phase now) and even being a contrarian investor  George Soros has excelled.

So it is not in one method of investing the best investors have used multiple combination legendary investor Warren Buffet even waited for years to invest in panic of 2008-09 so he waited for fear in market to invest with greed.

History says John Maynard Keynes British economist as one of the best speculator and investor who lived during Great Depression and World War I & II.

After Sub-Prime crisis the global economy is following Keynesian economics among various policy makers from the world's industrialized economies. This included discussion and implementation of economic policies in accordance with the recommendations made by John Maynard Keynes in response to the Great Depression—such as fiscal stimulus and expansionary monetary policy.

http://en.wikipedia.org/wiki/2008%E2%80%932009_Keynesian_resurgence

John Maynard Keynes,  (5 June 1883 – 21 April 1946) was a British economist whose ideas have been a central influence on modern macroeconomics, both in theory and practice. He advocated interventionist government policy, by which governments would use fiscal and monetary measures to mitigate the adverse effects of business cycles, economic recessions, and depressions. His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots.

http://en.wikipedia.org/wiki/John_Maynard_Keynes

Keynes economist or a Investor

Keynes was an economist; he was an investor; he was a patron of the arts and a lover of ballet. He was a speculator. He was also confidant of prime ministers. He had a civil service career. So he lived a very full life in all those ways.” Keynes speculated with his personal account, invested on behalf of various investment and insurance trusts and even ran a college endowment, each of which had different goals, time horizons, and product mandates.

Upon his death, he left a substantial personal fortune primarily a result of his financial market activities. Evidence of Keynes’ investing acumen can be found in the returns of the King’s College Cambridge endowment, the College Chest, for which he had total discretion as the First Bursar. A publicly available track record shows he returned an average of 13.2% per annum from 1928 to 1945, a time when the broad UK equity index lost an average of 0.5% per annum.

This was quite a feat considering the 1929 stock market crash, the Great Depression, and World War II occurred over that time frame. But, like all great investors, Keynes first had to learn some difficult lessons. He was not immune to blowups in spite of his superior intellect and understanding of global markets. In the early 1900s, he successfully speculated in global currencies on margin before switching to the commodity markets. Then, during the commodity slump of 1929, his personal account was completely wiped out by a margin call. After the 1929 setback, his greatest successes came from investing globally in equities but he continued to speculate in bonds and commodities.

His investment philosophy . . . changed in line with his evolving economic theories. He learned a lot of his theory from his experience as an investor and this theory in turn modified his practice as an investor.”

 

Sesa Goa : Promoters have increased their stake: Target price is Rs. 300

HCL Info : Strong bidder Unique ID Card contract

Stride Arco. : Investors fancy to increase with launch of medicine of Swine Flu

Piramal Healthcare : Investors fancy to increase with the company in take over list of Glaxo-Smithcline

HDFC : Reputed brokerage house has recommended investment

Zee Enter : Volume and price to move up

LIC Housing : Invest with target price of Rs. 950

Patel Engg. : safe bet as Rs. 7300 crores order on hand

Rolta India : Analysts have started taking interest on the counter

Hindustan Zinc : Invest at every dip in price

Apar Ind. : Attractive financial performance expected in FY 2009-10

Dalmia Cement : Make it a portfolio choice

IBN 18 : Current expected with positive decision about right issue

Cairn India : Worth investing at lower price level

Bhusan Steel : Stock price to move up by Rs. 40 to 50

Swaraj Engg. : Stake of M & M to boost the scrip price

Spice Comm. : Green signal for merger with Idea

K.S. Oil : Increasing flow of FII

Uco Bank : FPO of Rs. 135 crores planned

J.P. Hydro : Collect 25o million through FCCB/GDRs

Gujarat NRE Coke : Scrip may turn out to be dark horse as company is freely distributing bonus

Mahindra Satyam : Scrip in limelight with probability of new orders after huge contract with GE

FAME India : Price on the rise with volume under the effect of huge block deals

Meghmani Organics : Huge rise in income-profit with Dahej project of the company

Sical Logistics : Expected to get advantage of expansion

 

Rohit Ferro Tech (Rs.42.45), which reported profit of around Rs.5 cr. in Q1FY10, is likely to post Rs.10/12 cr. profit in Q2FY10 and Rs.20/22 cr. in Q3FY10 in view of the benefit of firm prices that become effective Q3FY10 onwards. Stock is likely to show a good upmove.

* After good consolidation, it is possible that Kalpena Industries (Rs.138) may now move up for the next target of Rs.200 over the next few months.

* Lancor Holdings (Rs.103.25) was recommended between Rs.32-40 levels a few weeks back from where it has moved up sharply. There is promoter buying in this stock. Investors can continue to hold for a target price of Rs.125 level.

* Atul Ltd. (Rs.81.55) was recommended from lower levels in this column. With recovery in the global economy, the company is expected to do well since 50% of its sales are from exports. Investors can continue to hold this stock for the next target of Rs.125.

* Although Suzlon Energy (Rs.92) moved up well from its low, it has underperformed the capital goods sector. The company has initiated a cost reduction programme to reduce overheads by Rs.500 cr. annually. Moreover, in view of the expected improvement in the global economy, the company should do well over the long run. Investors can keep a watch on this stock for buying on dips.

* Kalpataru Power (Rs.835) had bagged some orders at fixed rates when raw material costs were at their peak last year. The company will benefit now and earn better margins in view of the fall in raw material prices. The outlook of the company is encouraging and it is likely to benefit from expansion in future. Investors can stay invested for target price of Rs.1500 over the next one year.

* After a long consolidation, Indian Hume Pipes (Rs.679.30) has closed well at Rs.681. Investors can continue to hold this stock for a target of Rs.900 level where it can be reviewed.

* Godrej Industries (Rs.198.90) is strongly advised by some knowledgeable investors for an upmove. Investors can buy as a momentum call on a stop loss basis.

* After a long wait, GTL Infra (Rs.41.35) has closed well. Investors can continue to hold the same.

* Revathi Equipments (Rs.599) is said to be doing well and is likely to report an encouraging performance in H2FY10. Its Construction Equipment Division is also likely to get good orders the second half. The stock is likely to touch Rs.1000 mark over the next 6 months.

* Supreme Industries (Rs.316.50) has consolidated well over the last 3 months between Rs.290 to Rs.325 levels and may see a breakout in the near future. Investors can continue to hold for good growth over the next one year.

The market did open flat to negative led by global cues and It was a negative closing for the market on the first day of new series and again seen profit booking from higher side due to long weekend.Market took support from 4931 which is its very immediate support ( 78.6 Per ) and almost closed above its immediate support too which is placed near 4955 (7 DEMA ).Going forward market seems to be mature now in the higher side and as long as it not provide a breakout in the upside above 5035-55 the selling on rise may continue but it will not fall drastically as long as we are maintain above 4950-4935 zone for the short term.Any dip if comes in the market that can slide nifty to kiss the support levels of 4950 and then 4860 but from these levels we may see again buying in the market.if we fail to hold these levels then the healthy correction is not ruled out.





NIFTY (4958.95)
Resistance : 4965 / 4995 / 5025 / 5085
Support : 4925 / 4895 / 4830


SENSEX (16693)
Resistance : 16710 / 16800 / 16910
Support : 16600 / 16500 / 16385


NIFTY FUT (4967.25)
Resistance : 4970 / 5005 / 5045 / 5080
Support : 4930 / 4890 / 4845


BANK NIFTY (8467.35)
Resistance : 8485 / 8540 / 8615
Support : 8405 / 8350






MKT COMMENTS
NIFTY FUT OI marginal up with increasing volumes indicating unwinding of long positions plus forming of fresh short positions.
We expect NIFTY FUT to trade volatile.






On Tuesday,Opening Is Flat To Down,
Buy NIFTY Above 4985,Sl Below 4965,Tgt 5010/5035/5060/5085
Sell NIFTY Below 4965,Sl Above 4985,Tgt 4940/4915/4890/4865




Heavy Risk Traders
Buy NIFTY Around 4905/4915,Sl 4865,Tgt 4980/5020






BUY (Delivery)


BBL@ 950/1000,Tgt 1500/1600/1700
PANTALOON@320/340,Tgt 390/410






INTRA




KFA@ 55/56,Sl 52,Tgt 60/62/64
JETAIR Above 320,Sl 315,Tgt 330/35/40/45
DISHTV@ 44/45,Sl 43,Tgt 47/48


CIPLA,Sl 260,Tgt 275
RELINFRA,Sl 1180,Tgt 1230






FUTURES




BUY


BHARTI@ 420,Sl 410,Tgt 430/40/45
IDBI Above 126,Sl 124,Tgt 128/130/132
AXISBANK Above 925,Sl 915,Tgt 935/40/45




SELL


SAIL Below 170,Sl 173,Tgt 167/65/64
SBIN Below 2140,Sl 2155,Tgt 2120/10

 

  

NEWSLETTER

Nooresh Merani)

Sensex Technical View :

Among all the technical charts of various indices Sensex seems to be showing lot of resilience but it needs to be seen whether 16900-17200 can be crossed or it starts closing below 16600.

The downside support trendline is placed around 16000-16200 till that level is not broken there can be no technical confirmation of a major correction but testing closer or below those levels is highly possible.

On the upside two ranges are 16900-17200 and 17700-18000 but the risk-reward is slowly shifting away from long side to the short side on the index.

Stock specific View :

The major dilemma now is that the stock specific charts do look interesting with lots of fresh breakouts ! at the same time the comfort on the index is reducing !

At this juncture there is lot of indecision so i would prefer to watchout the next few sessions. Sometimes its not necessary to be part of the every upmove on stock specific side or downmove on the index.

Traders should look to hedge their longs by shorting Nifty futures in small qty or buying 4800 puts as a hedge only !!

So would prefer to avoid any stock specific calls for next few sessions !!! ..... Relax enjoy the long weekend ahead with Navratri celebrations and Dashera. 

 

(Nooresh Merani)

GOLD :

Previous life highs at 1035 and 1020-1025 from the upper trendline is a difficult resistance zone.

Short term triangle breakout levels of 950/980 could be tested in days to come. Could be a nice place to get back in to it.

A move above 1040 could only lead to a major turn on upside till then corrective decline possible.

HANG SENG :

The most closely co-related market to Sensex is showing caution signals as its coming close to testing the lower trendline.

Sustained closing below 20500 could lead to a deeper correction till then the trend remains bullish but caution is advised.

Only a move beyond 21600 could give a continuation of a stronger upmove. Risk-reward is tilting towards shorts.

DOW JONES :

The index has not been able to cross the upper trendline as shown by the green arrows.

It might possibly be making a rising wedge /triangle pattern. Sustained closing below 9650 could lead to a deeper correction to 9200/9500 zones in short term.

Only a move beyond current highs could lead a turnaround to 10300 which is ruled out as of now ! !

CRUDE :

Earlier had posted about a possibility of a major move if crude sustains above 74 which it could not.

The support line as seen through green arrows has been broken finally giving caution signals. Sustained closing below 66.5 can take it to 62-60 zones in short term.

Only a move beyond 71.5 could take a turnaround which is ruled out as of now ! !

MY CHART

Nifty :: As per our yesterday post Nifty sharply move up for support zone on fno expire day and made High wave, Harmi Black, Thrusting Line, bullish candle with strong volume.. After an two strong support 4971/4930 break, overall bullish structure slightly damage.. Be careful at higher level, aggressive short term sell stop loss at 5036 or maximum up to 5070..(Mid term buying stop loss just below 4885).. Up to 5036 our strategy remain same as yesterday for 25th Sep. sell at high (S.L 5036) buy in deep (S.L 4885).. Resistance for up move at 5002/5019/5036/5070.. Supports at 4941/4911/4890/4885/ 4845…

 

FOR DATE 25-9-2009
SCRIP = CESC LTD (NSE),
SCRIP CODE = CESC,
PREVIOUS CLOSE = 385.55,
STOP LOSS = 377,
TARGET = 462.
FOR INTRADAY MOVEMENT OF THE STOCKFILTER PLEASE Click Here!
(OR, CLICK THE LINK ABOVE LIVE SENSEX WATCH.)

CHART AS ON 24-9-2009

WITH A GOOD RISE IN VOLUMES, THIS COUNTER HAS GIVEN A FRESH BREAKOUT IN THE LAST TRADING SESSION. THE STOCK WAS RANGE BOUND SINCE SEPTEMBER.

THE STOCHASTICS AND RSI HAVE GIVEN A POSITIVE CROSSOVER, WHICH SUGGESTS THAT DEMAND HAS OVER POWERED SUPPLY.

TECHNICAL ANALYSIS AND PORTFOLIO MANAGEMENT INDICATE THIS COUNTER GOOD FOR A SHORT TO MEDIUM TERM RANGE.

STRICTLY MAINTAIN AND FOLLOW THE STOP LOSS.

 

 

 

NEWSLETTER

OR DATE 24-9-2009
SCRIP = JAYSHREE TEA & INDUSTRIES LTD. (NSE),
SCRIP CODE = JAYSREETEA,
PREVIOUS CLOSE = 295.15,
STOP LOSS = 286,
TARGET = 372.
FOR INTRADAY MOVEMENT OF THE STOCKFILTER PLEASE Click Here!
(OR, CLICK THE LINK ABOVE LIVE SENSEX WATCH.)

CHART AS ON 23-9-2009

WITH  A CONSIDERABLE RISE IN VOLUMES, THE STOCK HAS GIVEN A FRESH BREAKOUT IN THE LAST TRADING SESSION. THE STOCK WAS IN CONSOLIDATION SINCE SEPTEMBER.
THE STOCHASTICS AND RSI HAVE GIVEN A POSITIVE CROSSOVER.
TECHNICAL ANALYSIS AND PORTFOLIO MANAGEMENT INDICATE THIS COUNTER GOOD FOR A SHORT TO MEDIUM TERM RANGE.
STRICTLY MAINTAIN AND FOLLOW THE STOP LOSS.

Unitech
Holding 500 shares at an average price of Rs 83. Closing price on 23 Sep 09 was 109
6 mnth tgt- 160, 1yr tgt- 200
Since you are sitting on profit and market correction is expected soon, you may like to sell 50% of your holding at about 120 and release your capital. After the correction you may like to pick up Unitech at 75/80 level. Then hold your position for one year's target of 200.

Suzlon
Holding 500 shares at an average price of Rs 96. Closing price on 23 Sep 09 was 94.6
6 mnth tgt- 180, 1yr tgt- 320
Suzlon should be bought at every dip. So be ready to add to your holding in small packets till level of 80. Such accumulation in the scrip will pay you handsome dividends in one year. Sell your complete position once the scrip reaches the price target of Rs 320.

DLF
Holding 90 shares at an average price of Rs 343. Closing price on 23 Sep 09 was 423.6
6 mnth tgt- 700, 1yr tgt- 900
DLF may correct till 300 and may on extreme conditions go down as much as 250. You can keep a stop loss of 385 and keep holding your position. You may then re-enter the scrip at 300 for the price target of 900 in one year or so.

Bhartiartl
Holding 50 shares at an average price of Rs 612. Closing price on 23 Sep 09 was 413.5
6 mnth tgt- 550, 1yr tgt- 750
Hold your position in this scrip and plan to add to your position during the correction. Fall below 390 can take the scrip to 340/350. Buy 50 additional shares at 350. Hold the scrip for one year's target of 750.

Mundra Port
Holding 50 shares at an average price of Rs 610. Closing price on 23 Sep 09 was 537.5
6 mnth tgt- 800, 1yr tgt- 1100
Mundra port can slide down to 400 if it closes below 520. Double your holding if the scrip touches 400. Hold your position for one year's target of 1100.

RNRL
Holding 200 shares at an average price of Rs 140. Closing price on 23 Sep 09 was 88.15
6 mnth tgt- 145, 1yr tgt- 190, 2 yr tgt- 250
RNRL can correct to 70 once it closes below 83. Keep accumulating the scrip from 70 downwards till 60. Hold your position till one year's target of 190.

Alok Industries
Holding 1000 shares at an average price of Rs 22.45. Closing price on 23 Sep 09 was 22.7
6 mnth tgt- 33, 1yr tgt- 42
Alok Industries can fall to 15 level but you should keep holding your position. You should start accumulating at dips right from 19 till 15. You can then sell your positions comfortably at one year's target of 42.

SBI
Holding 60 shares at an average price of Rs 343. Closing price on 23 Sep 09 was 2142
6 mnth tgt- 2300, 1yr tgt- 3200
You have SBI at IPO price so just keep holding it till its one year target of 3200.

GMR Infra
Holding 100 shares at an average price of Rs 143. Closing price on 23 Sep 09 was 140.7
6 mnth tgt- 200, 1yr tgt- 260
GMR Infra may correct to 110. You may start building up your position from 110 downwards. Hold the scrip for one year's target of 260.

RPL
Holding 160 shares at an average price of Rs 146. Closing price on 23 Sep 09 was 130.4
6 mnth tgt- 200, 1yr tgt- 235, 2 yr tgt 290
RPL can move down to 110 during the coming market correction. But you should only think of adding to your present position. Sell only when the scrip touches 290.

NTPC
Holding 260 shares at an average price of Rs 198. Closing price on 23 Sep 09 was 208.8
1yr tgt- 300
NTPC looks quite dicey below 200. You have a choice to move out of this scrip at current market price and re-enter at 170. It may go down to even 150 level, but over one year it will surely touch 300.

GVK Power
Holding 2700 shares at an average price of Rs 46. Closing price on 22 Sep 09 was 46.6
6 mnth tgt- 65, 1 yr tgt- 100
You may consider exiting from 50 % of total holding of the scrip at current market price. This will be on a no-profit-no-loss basis, and will give you the capital to re-enter at lower level. This is because GVK power may test 27/30 level in the coming correction. Buy back your shares at 30 and hold for one year's target of 100. Exit complete position once target is achieved.

JP Associate
Holding 500 shares at an average price of Rs 220. Closing price on 22 Sep 09 was 249.8
6 mnth tgt- 390, 1 yr tgt- 500
JP Associate can correct to 170 level. If that happens then pick up 500 additional shares at around 170 and hold your total position of 1000 shares. Sell your complete position at the target price of 500.

Suzlon
Holding 200 shares at an average price of Rs 90. Closing price on 22 Sep 09 was 100.8
6 mnth tgt- 180, 1 yr tgt- 320
Suzlon is a bright candidate to be in any portfolio for the next one year. Hold the scrip and keep adding to your position in small tranches at every dip till 80. Accumulate at least 1000 shares in your portfolio for next one year. Exit your complete position at target price of 320.

MY CHART

Nifty :: Correct sharply form target zone and close below important support 4971 with high volume.. Its mean aggressive trader buying stop loss already hit.. Now mid term trader watch buying stop loss 4931/4885.. Once Nifty break 4885 and given close below it, Nifty enter in mid term corrective face. May be bulls try to hold this support on fno expire day.. Till then avoid shorting at low or near highlighted support level.. Safe shorting at high or below 4885.. Our strategy same as yesterday sell at high (S.L 5004) buy in deep (S.L 4885).. Resistance for up move at 4976/5004/5025/5036.. Supports 4930/4885/4826/4816/4782/4755..

  NIFTY/ SENSEX !
Nifty - Moving up in Bearish Pattern - Breakout may Target 4850 in 1-2 Sessions
Be Highly Scrip Specific - Both Bullish & Bearish Opportunities Available

* HINDALCO !
Overbought in hourly charts-Corrective decline to 125 likely

* R COMM. !
Bearish pattern with support at 290-Breakout may target 265-270 in near term


* NAGARJUNA FERT. !
 EST support at 32-Breakout may target 28 in coming days

* ICICI BANK !
Short term charts favor decline to 830 & below-Book profit on every rise

* ORCHID CHEM. !
Fails to move above 172-Medium term charts favor decline to 140 & below

* REL. CAPITAL !
Short term support at 894-Bearish breakout will target 840 in coming sessions

* TATA MOTORS !
All indicators in favor of decline to 575-580/Use every rise for profit booking

* JP HYDRO !
Short term support at 80-Break of support may target 75 in coming sessions

* SUZLON ENERGY !
EST support at 93-94/Bearish breakout may target 85-86 in near future

* UNITECH LTD. !
On verge of bearish breakout-Close below 108 may target 95 in near future

* DLF LTD. !
Mildly bearish in hourly charts-Likely to go below 410 in coming days

* UCO BANK !
Bullish target of 55+ maintained-Pullback to 47 likely

* HDIL !
Bearish pattern with support at 319-Breakout may target 300 in near future

* TATA STEEL !
Bearish target of 500 maintained-Use every rise for short term profit booking

* IDBI !
EST support at 111-Breakout may wipe off Rs.6/- in near term


* SESA GOA !
Indicators favor decline to 267-268/Use higher levels for profit booking

* TCS !
Overbought in hourly charts-Corrective decline to 572 likely

* LIC HOUS. FIN. !
Extremely overbought-Ripe for decline to 765

* SBI !
Mildly bearish in hourly charts-Likely to go below 2090 in near future

* BALAJI TELE !
All indicators favor rise to 80-Buy on declines with SL

* CENTURY TEXTILE !
Bearish pattern with support at 484-Breakout may target 460 in near future

* HCL TECH. !
Hourly charts favor decline to 320-Use higher levels for profit booking

* NDTV !
Bearish breakout-Likely to go below 150 in near term

(NOORESH)

Sensex Technical View :

First red candle after slow upmoves ! ... Though no signs of reversal as of now but sustained closing below 16600-16700 could take it to 16000 levels in near term. Continue to wait and watch.

Stocks to watchout for :

Moser keep a stop of 94 ( disclosure booked half at 102 and trailing got hit at 97 ) , WWIL stop 20.3, Genus stop 200.

No stock specific updates as from here on it would be difficult to take trades as risk is increasing and in many cases decisions have to be taken in the day. Little uncomfortable on the index for near term.

So take a break relax over the long weekend :) research more , learn more :)

Investment pick :

J K Agri Genetics

Investment value of 160-190 crs against a mkt cap of 50-60 crs. Debts of 40-45 crs.

Into Agro based business so does deserve a better price in 6 mths to 1 yr. Buy on declines from 165-145 only with long term view.

Do your research as stock is illiquid and dont expect movements in near term although possible.

NEWSLETTER

(NOORESH)

Sensex Technical View :

Sensex has crossed the rising wedge level of 16300 odd and its difficult to say whether this should be termed a breakout or a false move to the one similarly seen in January 2008.

In either case the risk-reward is slowly shifting away from index on the long side. So one can continue to book profits slowly or keep trailing stoplosses. A significant technical resistance is only at 17700 ( previous tops ).

Continue to be stock specific till index doesnt show reversal signals. From here on expect moves to be very selective and stock specific then broad based.

Stocks to watchout for :

Havells and Jupiter Bio charts and view posted.

Medium term investors can look into following stocks to buy in pyramid manner. Have not performed in the current bounce so downside risk is lower.

Cranes Software

KEI Inds

Sharyans Resources

J K Agri Genetics

Please do your fundamental research as the above stocks do look interesting on a quick research.

Genus Power buy arnd 207-212 stop of 201 tgt 225-240 in short to medium term.

(ritesh)

FSL :THE ABOVE WEEKLY CHART OF FSL HAS TOUCHED TREND LINE AT 37.50 IF IT CROSSES 38.5 WITH GOOD VOLUMES THEN NEXT TGT CAN BE 47 IN COMING DAYS

 

(Archana)

Here in this portfolio analysis we have a case of Mr Hussain who wants a three year horizon for his portfolio. However my recommendation to him will be to watch for one year targets and take profit there. After that he will have plenty of opportunity to pick up the shares again at a lower price since those targets are at supply zones. Lets begin the exercise.

DLF
Holding134 shares at an average price of Rs 358. Closing price on 22 Sep 09 was 430.1
6 mnth tgt- 700, 1 yr tgt- 900
You should keep holding the share for a target of 900. It may also trade at 1200 around two years down the line.

GMR Infra
Holding 287 shares at an average price of 76. Closing price on 22 Sep 09 was 142.8
6 mnth tgt- 200, 1yr tgt 260
You have a profitable position to hold. At the most GMR may come down to 110 in near future expected correction. Hold till target of 260 is achieved.

BPL
Holding1000 shares at an average price of Rs 24.15. Closing price on 22 Sep 09 was 36.85
6 mnth tgt- 45, 1 yr tgt- 65
Currently BPL may come down to the zone of 25 to 30. Since you will not be in any loss, therefore keep holding till target of 65.

BHEL
Holding 14 shares at an average price of Rs 1504. Closing price on 22 Sep 09 was Rs 2285.
6 mnth tgt- 2800, 1 yr tgt- 3900.
BHEL may come down to 1700 level in the foreseeable correction. It will be very weak if it closes below 2200. However you do not have to worry since your position will not give you any loss even if the correction does take place. Hence keep on holding it till 1 year's target of 3900.

GSPL
Holding 590 shares at an average price of Rs 59. Closing price on 22 Sep 09 was Rs 79.4
6 mnth tgt- 95, 1 yr tgt- 110
GSPL may correct to 50 level in near term. You may like to add to your position if it does come down to 50. What ever be the case, exit position only at 1 year's target of 110.

Rcom
Holding 90 shares at an average price of Rs 359. Closing price on 22 Sep 09 was 307.5
6 mnth tgt- 500, 1 yr tgt- 600, 2 yr tgt- 810
Rcom may come down to 250 level if the markets correct now, of which there is high probability. You can plan to add to your position at 260 and off load your complete position at two year's target of 810.

 

MY CHART

Nifty :: Once again an high wave bullish candle.. Nifty moving up and up without any correction with low volume.. Danger sign.. Nifty already in target zone.. Once again we repeat please avoid buy at high..Go with trend but buy only in deep with strictly S.L for intraday only.. For further up move Nifty required to close above 5030 and next strong hurdle 5065/5070.. Now aggressive trader long buying stop loss move higher at 4971, and max up to 4932/4888.. Still our strategy same as yesterday sell at high if you get chance near 5065/5070 (S.L 5115) buy in deep (S.L 4971).. Resistance for up move 5036/5065/5070/5091/5115/5163/5167… Supports at 4971/4958/4932/4888..

REL INFRA - RISING TRIANGLE BREAKOUT TARGET 1550

Nice little breakout and volumes picking up.
Target 1 = 1365
Target 2 = 1550-75
Stop = 1145
 

 

 FOR DATE 23-9-2009
SCRIP = MOSER BAER (I) (NSE),
SCRIP CODE = MOSERBAER,
PREVIOUS CLOSE = 99.4,
STOP LOSS = 94,
TARGET = 121.
FOR INTRADAY MOVEMENT OF THE STOCKFILTER PLEASE Click Here!
(OR, CLICK THE LINK ABOVE LIVE SENSEX WATCH.)

CHART AS ON 22-9-2009

WITH A CONSIDERABLE RISE IN VOLUMES, THE STOCK HAS GIVEN A FRESH BREAKOUT IN THE LAST TRADING SESSION. THE STOCK WAS RANGE BOUND SINCE AUGUST.

THE RSI AND MACD HAVE GIVEN A POSITIVE CROSSOVER.

TECHNICAL ANALYSIS AND PORTFOLIO MANAGEMENT INDIACATE THIS COUNTER GOOD FOR A SHORT TO MEDIUM TERM RANGE.

STRICTLY MAINTAIN AND FOLLOW THE STOP LOSS.

 

 

NEWSLETTER

(ritesh)

As per my earlier post tata sponge faced resistance at 244 which was 61.8% retracement which it has broken with big volumes and closed at 256.25


Please check my earlier post from link given below
http://ritesh-researchreports.blogspot.com/search/label/Tata%20Sponge

Tata Sponge: Tata Sponge has given break out from Inverted Head and Shoulders Pattern and closed at 256.25 with good volumes of about 4 lac shares traded.

The immediate tgt are 290 and after that it is 310

 

FOR DATE 22-9-2009

SCRIP = APTECH LTD (BSE),

SCRIP CODE = 532475,

PREVIOUS CLOSE = 282.75,

STOP LOSS = 275,

TARGET = 375.

FOR INTRADAY MOVEMENT OF THE STOCKFILTER PLEASE Click Here!

(OR, CLICK THE LINK ABOVE LIVE SENSEX WATCH.)

CHART AS ON 18-9-2009

WITH A CONSIDERABLE RISE IN VOLUMES, THIS STOCK HAS GIVEN A FRESH BREAKOUT IN THE LAST TRADING SESSION. THE STOCK WAS IN CONSOLIDATION SINCE SEPTEMBER.

THE STOCHASTICS AND RSI HAVE GIVEN A POSITIVE CROSSOVER, ALSO THE CANDLESTICK PATTERN IS BULLISH.

TECHNICAL ANALYSIS AND PORTFOLIO MANAGEMENT INDICATE THIS STOCK GOOD FOR A SHORT TERM RANGE.

STRICTLY MAINTAIN AND FOLLOW THE STOP LOSS.

A K Prabhakar)

RELIANCE raises Rs 3,188 crore from treasury stock sale
On  Sept 10 2009 RELIANCE IND sold up to 210,000 tonnes of gasoline for October 2009-March 2010 lifting to Western trader Trafigura at a premium of 80 cents to Singapore's spot quotes on a free-on-board (FOB) basis.    http://in.reuters.com/article/domesticNews/idINSP52211220090910

Why did Reliance do both deal within short span and why are analyst who are familiar with RIL worried?
There have been many instances where RIL has set bench mark and most of the top and bottom has been formed after few actions taken by this company.

1)      During 2002 when Crude was trading near $16, RIL made a forward contract for 1year and @ a premium to the prevailing market prices that time and within weeks that had become bottom till today.

2)      RIL sells 4.01% of RPL's equity for Rs.4,023 crore Reported on 27 November 2007 and month of November2007 highest ever for the stock till now.

 http://www.domain-b.com/companies/companies_r/Reliance_Industries/20071124_equity.html  

Monthly Graph of RPL from listing till date and November2007 has seen highest ever price and volume.

3)RIL sold refined products for one year forward @ discount when crude was around $130 around mid of 2008 and within month crude crashed.

The forward contracts for crude oil were placed by a Dubai-based company which handles this part of RIL’s business. The company had booked at least three contracts at $120 a barrel, $100 a barrel and $80 a barrel, respectively, in the middle of 2008, an oil industry analyst said.
http://economictimes.indiatimes.com/articleshow/3910761.cms

On 22^nd January 2009 In evening(6.P.M) after RIL announced results below mail was send to my mailing list:

Reliance announces result Rs.3501crs profit for the 3^rd quarter which is above market estimate with GRM (Gross refinery Margin) $10 highest in the industry.

·         Cash & cash equivalent in hand Rs.28, 500crs ($5.9Billion), over 95% in bank.

·         Jamnagar refinery 98% capacity utilization

There where many rumor about hedging loss and Forex losses, 4month back when crude was $140 they sold 6month forward contract there entire production which I gave importance to say crude has seen peak- but I can’t find the link.  The company performance has been good above market expectation.
Reliance didn’t break Rs.1080 and with that as stop the stock can target Rs.1400 & 1575 target given few days before.

Our view in morning report at that time: ( On 22^nd Jan 2009 Morning report)

Reliance: During the quarter ended December 2007, the company had reported a net profit of Rs 8,079 crore, which included Rs 4,733 crore of extraordinary profit on sale of stake in Reliance Petroleum. Many reports talk about $1 bn loss on hedging of crude contracts. NP above Rs.2400crs would be excellent performance by the company if Rs.2800 above profit is reported then huge short covering possible.

Reliance Industries Ltd has informed BSE regarding a Media Release dated January 22, 2009 titled "Revenue and Earnings Growth in Challenging Times; RPL Refinery started on Schedule; KG D6 Oil Production Commenced in September 2008; KG D6 Gas Production Scheduled in This Quarter".
So bottomline is that whenever RELIANCE enters into some major contract or some major deal (like RPL stake sale or forward contract) they have normally made very good judgment or the best judgment. This time they have entered into short term forward contract in Refined product do they see short term Crude prices topping out and they have sold RIL 1% stake I don’t want to read much into the transaction, will this make History again.

 

1) Genus Power Infrastructures Ltd.
Genus Power Infrastructure Ltd (GPIL) is an enabler in the power sector. GPIL is in the business of providing various solutions that revolve around the power theme. GPIL provides metering solution, commissions electric substations, manufactures inverters, UPS and batteries, and also builds some integrated circuit based applications.

For the past few years, GPIL was also one of the beneficiary of the overall growth in the power sector. The company was able to grow its revenues by 5 times and profits by 13 times in last four years (till financial year March 2008).

Going forward, the company’s growth will slow down, but as long term power story in India remains intact, growth rates will still be healthy. The competitive pressures on all the company’s business divisions are likely to intensify.

The market for inverters and UPS is cluttered with various players and to some extent is seasonal. Also the brand intensity in inverter and UPS business is not there resulting in poor product differentiation. Similarly batteries business has better players like HBL Power Systems. The metering solutions business is again cluttered with few big players like BHEL which generally garner most of the government contracts. The software solutions in T&D control and monitoring has also become competitive with ICSA emerging as one of the key player. The commissioning of electric substations and other ancillary infrastructure building in power space is dependent on government spending on future power projects. This sub-sector to power is going to witness entry of more players and margins will be under pressure.

Having said all these, the company is expected to do good business in almost all of its segments as power deficit is going to remain wide in near to medium future (5-10 years). Also, the company is expecting some growth from African and other developing countries.

The market has so far given reasonable, but a little bit subdued valuation to the company so far. The reason which we believe could be the not so enthusing reputation of the promoters. The share price has recently increased with some handsome gains in line with overall market upsurge.

The current P/E multiple of 6 at which the share is available seems to be reasonable, albeit on a bit lower side. Though some purchases can be made at current market price, a better proposition would be to make purchases at dips. We believe, if overall markets correct from the existing levels, this share will correct more, and that could be the good entry level. The company is likely to generate decent to high returns over medium term. If the power story still remains buzzing at that stage, investment horizon should be elongated to long term. Overall, a good buy at dips.

2) Micro Technologies Ltd.
Micro Technologies (MTL) is engaged in manufacturing and marketing of security devices. The company’s security segment is involved in manufacturing products such as access control systems, bike security systems, disaster management system, fleet monitoring systems, home security systems, intelligent black box, intelligent surveillance system, office security systems, shop security systems, vehicle security and tracking and video door phones. Its messaging segment is engaged in manufacturing messaging products such as micro buddy tracking system, micro cyber activity remote monitoring system, micro life line, micro lost mobile tracking system, micro lost notebook tracking system, micro mobile controller system and micro security system. In addition, the company markets exhibitor visitor participant management system, micro power sinewave home, micro professional placements and micro student attendance management system. The company was able to grow its revenues by almost 15 times and profits by 13 times in last five years (till financial year March 2009). Going forward, though the revenue growth would sublime, the profit growth is likely to surge relatively.

The market size estimates for various security solutions in India are not very clear. Even the forecasts are little bit confusing. However, looking at the kind of growth, the company has shown the size of the market either seems to be growing or not yet adequately penetrated. The company seems to grow most likely from fleet and bike (other mobile devices) trackers and security solutions. In home security systems, Zicom is acting as a big competitor. The company’s foray into Energy and Health systems will be growth accretive. The client base of the company seems impressive with a likelihood of repeat business. The exports can also be revenue booster in future.

Prima facie, the valuations of the company looks tempting. We couldn’t find any plausible reason for such a low P/E multiple the company is commanding (there is one article posted by our associate Arun Gopalan at HBJ Capital which talks abt possible reason for Micro Tech low valuation, pls refer link), despite the fact that the promoters have issued a large chunk of warrants to themselves. They have also reduced the dividend percent to 10% from the 20% earlier. It could be looked in different ways. One way is that management is confident in the long term possibilities of their business and wants to plough more money in the business. The other way is that by issuing more warrants to themselves, they might wish to garner more chunk of current profits to themselves. While Zicom is trading at a multiple of 12, the multiple of about 2.5 for the company remains unjustified. Even in normal circumstances (though market has surged) the company deserved a better multiple, say at least 5-6, unless there is an inside story, which we are not aware of but the market is. However, if nothing of such exists, and looking at pure fundamentals, this seems to be a little bit ignored scrip with a potential to explode. The downside risk appears very low. In the first look it seems to be a good buy for medium term perspective but we suggest avoiding this stock due to its product profile.

3) Vivimed Laboratories
Vivimed Labs is involved in the manufacturing and marketing of specialty chemicals. The company supplies active pharmaceutical ingredients, generics and specialty for personal care manufacturers and pharmaceuticals.

The company offers various specialty chemicals for manufacturers of anti-microbial, oral care, sun care, hair care, preservatives and anti-oxidant products through its H & PC Actives division. It provides Triclosan and Calcium Glycerophospate to oral care product preparations and offers Octocrylene, Benzophenone-4, Benzophenone-3, Octyl Methoxy Cinnamate and Avo Benzone for sun care preparations.

For the producers of skin care products the company offers Ndga and 4n-butyl Resorcinol. It also offers Zinc Pyrithione, Climbazole, Ketoconazole and Pdpo that are used under for the Hair care application. Additionally, the company produces preservatives such as Chlorphenesin and further offers Trichloro Carbanilide and Para Chloro Meta Xylenol that are applied for the production of homecare and industrial care products.

Vivimed Labs also offers contract manufacturing services from less than 1 MT level to more than 100 MT level through its contract manufacturing division. Under this division the company offers services such as determining and evaluating the right synthesis route, environmental factors, project commercialization, finalisation of layouts and production requirements, monitoring and reporting structure established, and ready for use project plans.

Vivimed Labs through its UK based subsidiary James Robinson develops innovative photochromic dyes which are marketed under the brand name Reversacol. This company primarily manufactures chemicals in the hair dyes and intermediate segments. Additionally, it produces specialty chemicals for photographic and fluoroscents.

Additionally, the company offers shipment, warehousing, re-distribution and door delivery services for its products to major producers.

The company’s revenues and profit grew by almost 3 times in last four years (till 2008). The growth rate in revenues and profits off late has slowed down. Going forward also, the growth rates are likely to get stabilized.

Overall, the company is in beautification and grooming business, with other businesses being dyes and pigments along with contract manufacturing for some API. Though the company appears to be a pharma & chemical company, its character is that of a consumer company.
The beauty and other related products are in brand intensive business. The products of the company seem to be good, but they are yet to build their brand strength. The similar products from other companies like Fem Care, HUL, Zydus etc enjoys considerable brand recognition. The beautification market in India is growing at a stable rate. However, to grow fast in this segment, the company has to build brand strength (advertising and marketing focus) and at the same time attack market share of its competitors.

The company’s valuation seems to be reasonable looking at its competitiveness in its business. The company’s fortune can change if its R&D facility turns out with some innovative and good consumer care products. At a multiple of five, and looking at the surge in price along with the upward movement in the overall market, further upside potential looks limited. It looks like a good play for stable, safe and steady returns with medium to long term perspective. Buying suggested at dips only.

4) Blue Bird (India) Ltd.
Blue Bird is in stationery, commercial printing and publication (primarily school books) business. Though the demographic profile of India (more and growing number of schools and school going students) is favourable for the company’s business, it can not be considered as a big bet on the education story of India.

The businesses in which the company operates are matured, competitive and with low barriers to entry. Its competitors like Navneet (in stationery), Macmillan (in publishing), Repro and Micro Inks (in printing) appears more established. The growth has stabilized, and it would be surprising if the company registers double digit growth going forward. The margins are also getting shrunk. However, the business remains stable. If the company is able to maintain and grow its dividend, it can be a good investment as a dividend play.

Realizing the limitations to grow organically in its businesses, the company has planned to diversify into construction activities, where it has apparently no business expertise. This foray appears risky to the overall business model of the company. This alone can change the outlook of the investors from stable to cautious.

Though the company can provide moderate or even above average returns over medium to long term, the likelihood of which remains low, as no positive and convincing clue is available to make any long term investment case out of it.

The current pricing of the company also seems to be reasonable with limited upward potential, unless the overall market rises. Can be avoided, as better alternatives are available. (If buying, take small exposure with a disciplined stop loss!)

IGL (INDRAPRASTHA GAS LTD) CMP Rs 165:-

http://www.iglonline.net/

EPS Rs 12.32 Book Value Rs 48.81

About the company:

Incorporated in 1998, IGL took over Delhi City Gas Distribution Project in 1999 from GAIL (India) Limited (Formerly Gas Authority of India Limited ). The project was started to lay the network for the distribution of natural gas in the National Capital Territory of Delhi to consumers in the domestic, transport, and commercial sectors. With the backing of strong promoters – GAIL (India) Ltd. and Bharat Petroleum Corporation Ltd. (BPCL) – IGL plans to provide natural gas in the entire capital region.

The transport sector uses natural gas as Compressed Natural Gas (CNG) , while the domestic and commercial sectors use it as Piped Naural Gas (PNG).

CNG:- The next generation auto fuel:-

Compressed Natural Gas (CNG) is a fossil fuel substitute for gasoline (petrol), diesel, or propane fuel. Although its combustion does produce greenhouse gases, it is a more environmentally clean alternative to those fuels, and it is much safer than other fuels in the event of a spill (natural gas is lighter than air, and disperses quickly when released).

IGL has more than 130 stations in NCR and its network is distributed between Motherstations, Mega stations, Daughter Booster Stations and Online Stations which are conveniently made to avoid as much rush as possible at busy hours.

 

PNG - The most convenient next generation kitchen fuel:-

PNG or Piped Natural Gas is natural gas that is piped to homes and establishments. It is considered as a safe fuel as it reduces possibility of leakage, it is lighter than air. With its narrower range of ignition there is in-built safety in PNG installation and round-the-clock customer support which is necessary in case of unfortunate accidents. The billing is made based on meter reading of gas consumed and natural gas can also be used for water heating, space heating and air conditioning. 

Further catalysts:-

IGL is spreading fast as it now has 10 CNG outlets outside Delhi (6 in Noida, 2 each in Ghaziabad and Greater Noida). IGL’s sales volume CAGR has been impressive at 13% over FY05-09, led by 3.5x growth in CNG vehicles and 5x increase in domestic PNG customers. However, a large portion of the market is untapped and offers huge growth potential for IGL. Key growth drivers for CNG within National Capital Territory (NCT) would be new buses specially sourced for the Commonwealth Games, private vehicles, taxis, callcentre SUVs, LCVs and replacement of existing fleet. PNG growth is likely to be on account of a huge untapped domestic market. The conversion to CNG in NCR has been just around 15% so far and as government becomes more aware of environmental cleanliness, more and more vehicles are going to be converted which can be a major booster for IGL.

From where the gas can come?

As IGL is tapping other cities like Ghaziabad, Noida, Greater Noida, it is going to need more and more gas to comply with the rising demand of CNG. The demand will rise more in case IGL bids for authorization in Gurgaon and Faridabad also. The recent contract with RIL wherein the company can draw additional 0.3-2.1mmscmd from RIL’s KG-D6 block, will help sustain incremental growth beyond APM gas allocation of 2mmscmd at present.

Three-wheelers, Four-wheelers and Six-wheelers are already running on CNG but now IGL is testing using CNG in Railways to run diesel locomotives which, if successful, can be a major business winner for IGL. Strong promoter background like GAIL and BPCL is a special combination as GAIL is experienced in laying pipelines and BPCL has a big network for marketing, both being government companies, the growth potential is very high for IGL.

Technical Outlook:-

INDRAPRASTHA GAS stock shows a rounding bottom pattern but given current overstretched valuations in overall market the stock may see some downside of 10-15% also if broader markets start correcting. The stock should be accumulated from 1-2 year point of view with targets above Rs 250 in mind.

http://www.4shared.com/file/134012968/796762a3/IGL_June_2009.html IGL Investor Presentation

http://www.iglonline.net/pollution.asp Pollution Watch

http://timesofindia.indiatimes.com/news/city/ludhiana/Autos-to-replace-kits-with-CNG/articleshow/5019391.cms Autos to replace kits with CNG in Ludhiana

http://www.blonnet.com/2009/08/25/stories/2009082551880200.htm IGL looking for a pact with Reliance for city gas distribution

 

BUY BPCL SL 535 TGT 565
BUY DLF SL 420 TGT 485
BUY HPCL SL 375 TGT 392
BUY LARSEN SL 1595 TGT 1849
BUY SUZLON SL 95 TGT 124

(SVShah)

NIFTY (4976.05)
Resistance : 4990 / 5015 / 5060
Support : 4960 / 4945 / 4910 / 4865


SENSEX (16741.11)
Resistance : 16800 / 16860
Support : 16705 / 16645 / 16550


NIFTY FUT (4978.05)
Resistance : 4995 / 5020 / 5050
Support : 4950 / 4925 / 4885


BANK NIFTY (8379.15)
Resistance : 8445 / 8505
Support : 8370 / 8305 / 8235






MKT COMMENTS
NIFTY FUT OI (both series) down with decreasing volumes indicating unwinding of long positions.
We expect profit booking will emerge on every rise.







On Tuesday,Opening Is Flat To Positive,
Buy NIFTY Above 4950,Sl Below 4930,Tgt 4975/95/5015/5040+
Sell NIFTY Below 4930,Sl Above 4950,Tgt 4905/4885/65/40+






BUY




BHARATFORGE@ 285,Sl 280,Tgt 290/95/300
ESCORTS@ 92/93,Sl 90,Tgt 95/97/99
HCC@ 127/28,Sl 124,Tgt 130/33/35


SBIN (2148), Sl Below 2130,Tgt 2175/85/95
SUZLON@ 100/101,Sl 98,Tgt 103/04/05






SELL




STER,Sl 785,Tgt 750/45/40
ZEE Below 205,Sl 210,Tgt 200/195/90+






FUTURES




Buy REL (1243)@ 1230,Sl 1215,Tgt 1260/70/80 (Close Above 1270,Hold Longs As BTST)




Sell STERLITE (762)@ 765/75,Sl 785,Tgt 755/45/35 (Close Below 740,Hold Shorts As STBT)




RIL (2099)
Buy@ 2085,Sl 2065,Tgt 2115/25
Sell@ 2140,Sl 2170,Tgt 2115/05




RNRL Above 92,Sl 90,Tgt 94/95/96
DLF Above 430,Sl 425,Tgt 435/40/45
KSOIL Above 63,Sl 61,Tgt 65/66/67
RPOWER Above 175,Sl 170,Tgt 178/80/83/85

MY CHART

Nifty ::High wave bullish candle with Hanging Man bearish candle... In sequence third day Nifty made an selling pressure bar.. Still too many support in down side but now onward consternate in selling at higher level and avoid buy at high.. Conformation of healthy correction only below 4788/4774.. Till then go with trend buy at support and watch strong resistance for selling with strictly stop loss either side.. Watch one level 4958 above 4958 momentum seems up, below 4958 momentum turns down…Our strategy for 22nd Sep. same as yesterday sell at high (S.L 5048) buy in deep (S.L 4900/4874).. Resistance for up move at 5003/5030/5048/5135.. Supports at 4958/4932/4900/4888/4874/4840..