Sensex Technical View :
The market did open flat to positive and It was again a slightly positive closing for the market. As expected by me that profit booking can emerge near 5010 range we seen sharp and good profit booking from higher side but nifty closed again above its major weekly support of 4920.It seems that now a correction is round the corner and all the long positions should have a tight stop loss placed below 4930 for very short term and 4870 for short term.Its still buy on dip market as long as nifty sustains abv 4770.Higher side it seems that it will take a breath before making and significant move but until we are not having any bad news from global markets or from anywhere else, its not to worry to bulls and they will be dominant.
NIFTY (4965.55)
Resistance : 4995 / 5030
Support : 4935 / 4910 / 4850
SENSEX (16711.11)
Resistance : 16810 / 16905
Support : 16625 / 16540
NIFTY FUT (4962)
Resistance : 4985 / 5005 / 5035
Support : 4945 / 4920 / 4890
MKT COMMENTS
NIFTY FUT OI flat with 16% decreasing volumes indicating unwinding of long positions at higher levels.
We expect NIFTY FUT to trade rangebound with possibility of profit booking at higher levels.
On Friday,Opening Is Flat To Positive,
Buy NIFTY Above 4970,Sl Below 4950,Tgt 4995/5015/5030/5055
Sell NIFTY Below 4950,Sl Above 4970,Tgt 4925/4905/4890/4865
BUY
APIL Above 550,Sl 540
HDFC Above 2600,Sl 2575,Tgt 2645/2670
SBIN (2102),Sl Below 2085,Tgt 2120/30/40
RELINFRA Above 1190,Sl 1175,Tgt 1200/1210+
Positional Buy
DIVISLABS Above 550,Sl 535,Tgt 565/75/80+
BALRAMCHINI Above 128,Sl 128,Tgt 131/35/38+
plz check post below. View is to book profits /wait and watch/trade with lower volumes with short term view and strict stops.
Its not necessary to be part of every market move !!!
Updates will be restricted to few lines for this and next week - ( lil tired , festivals and more work )
Stocks to watchout for :
Essar Oil buy arnd 160-162 for the day stop of 158 tgt 172
Divis Labs maintain investment hold can expect 600 in short term.Buy on declines.
Moser Baer buy if closes above 95
Small cap cements stocks like OCL India , Heidelberg , Prism Cements look good for 1-2 weeks. Traders can keep watch for momentum.
Wire Wireless buy above 22 in momentum
B L Kashyap can book part or trail for medium term.
Nifty :: Made a Spinning top candle in between Ending Diagonal target zone.. In sequence second 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 4786/4773.. Till then go with trend buy at support and watch strong resistance for selling with strictly stop loss either side.. Our strategy for 18th Sep. same as yesterday sell at high (S.L 5039) buy in deep (S.L 4905/4890).. Resistance for up move at 4993/5003/5023/5039/5062.. Supports at 4924/ 4905/4890/4840/4786..
Resistance @ 4980-5000
Support @ 4920 4880 4840
Negative Divergence observed that RSI
Can fall till trend line which is around 4720
Support @ 4920 4880 4840
Negative Divergence observed that RSI
Can fall till trend line which is around 4720
The market did open flat to positive and It was again a slightly positive closing for the market. As expected by me that profit booking can emerge near 5010 range we seen sharp and good profit booking from higher side but nifty closed again above its major weekly support of 4920.It seems that now a correction is round the corner and all the long positions should have a tight stop loss placed below 4930 for very short term and 4870 for short term.Its still buy on dip market as long as nifty sustains abv 4770.Higher side it seems that it will take a breath before making and significant move but until we are not having any bad news from global markets or from anywhere else, its not to worry to bulls and they will be dominant.
NIFTY (4965.55)
Resistance : 4995 / 5030
Support : 4935 / 4910 / 4850
SENSEX (16711.11)
Resistance : 16810 / 16905
Support : 16625 / 16540
NIFTY FUT (4962)
Resistance : 4985 / 5005 / 5035
Support : 4945 / 4920 / 4890
MKT COMMENTS
NIFTY FUT OI flat with 16% decreasing volumes indicating unwinding of long positions at higher levels.
We expect NIFTY FUT to trade rangebound with possibility of profit booking at higher levels.
On Friday,Opening Is Flat To Positive,
Buy NIFTY Above 4970,Sl Below 4950,Tgt 4995/5015/5030/5055
Sell NIFTY Below 4950,Sl Above 4970,Tgt 4925/4905/4890/4865
BUY
APIL Above 550,Sl 540
HDFC Above 2600,Sl 2575,Tgt 2645/2670
SBIN (2102),Sl Below 2085,Tgt 2120/30/40
RELINFRA Above 1190,Sl 1175,Tgt 1200/1210+
Positional Buy
DIVISLABS Above 550,Sl 535,Tgt 565/75/80+
BALRAMCHINI Above 128,Sl 128,Tgt 131/35/38+
buy Patel Engineering tgt 494
FOR DATE 18-9-2009,
SCRIP = DIVI’S LABORATORY (NSE),
SCRIP CODE = DIVISLAB,
PREVIOUS CLOSE = 541.15,
STOP LOSS = 528,
TARGET = 602.
FOR INTRADAY MOVEMENT OF THE STOCKFILTER PLEASE Click Here!
(OR, CLICK THE LINK ABOVE LIVE SENSEX WATCH.)
CHART AS ON 17-9-2009,WITH A CONSIDERABLE RISE IN VOLUMES, THIS STOCK HAS GIVEN A FRESH BREAKOUT IN THE LAST TRADING SESSION. THIS STOCK WAS IN CONSOLIDATION SINCE SEPTEMBER, EARLIER THIS STOCK SAW A SELL OUT, BUT RECENTLY, ALL THE VARIATION HAS PAST AND THE STOCK GAVE A FRESH BREAKOUT TO A TRIANGULAR PRICE PATTERN.
THE STOCHASTICS AND RSI HAVE GIVEN A POSITIVE CROSSOVER.
TECHNICAL ANALYSIS AND PORTFOLIO MANAGEMENT RULES INDICATE THIS COUNTER GOOD FOR A SHORT TERM RANGE.
STRICTLY MAINTAIN AND FOLLOW THE STOP LOSS.
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Tata Metaliks Ltd.
513434 TATAMETALI Group (B)
CMP 102.45
I recommend a buy in Tata Metaliks from a short-tem perspective.In mid-August the stock took support at Rs 80 and resumed its intermediate-term up trend.This trend has been in place since March low of Rs 44.5.
While trending upward,it penetrated its 21 and 50-day moving averages in late August and is trading way above them.On September 17,the stock surpassed a medium-term resistance around Rs 95 by surging 5% with good volumes.
Both daily and weekly moving average convergence and divergence indicators are in
the positive territory.The short-term outlook on the stock is bullish.
It may hits Rs 113 in the approaching sessions.Traders with a short-term perspective can buy the stock while maintaining a stop-loss at Rs 96.5.
SCRIP = DIVI’S LABORATORY (NSE),
SCRIP CODE = DIVISLAB,
PREVIOUS CLOSE = 541.15,
STOP LOSS = 528,
TARGET = 602.
FOR INTRADAY MOVEMENT OF THE STOCKFILTER PLEASE Click Here!
(OR, CLICK THE LINK ABOVE LIVE SENSEX WATCH.)
CHART AS ON 17-9-2009,THE STOCHASTICS AND RSI HAVE GIVEN A POSITIVE CROSSOVER.
TECHNICAL ANALYSIS AND PORTFOLIO MANAGEMENT RULES INDICATE THIS COUNTER GOOD FOR A SHORT TERM RANGE.
STRICTLY MAINTAIN AND FOLLOW THE STOP LOSS.
513434 TATAMETALI Group (B)
CMP 102.45
I recommend a buy in Tata Metaliks from a short-tem perspective.In mid-August the stock took support at Rs 80 and resumed its intermediate-term up trend.This trend has been in place since March low of Rs 44.5.
While trending upward,it penetrated its 21 and 50-day moving averages in late August and is trading way above them.On September 17,the stock surpassed a medium-term resistance around Rs 95 by surging 5% with good volumes.
Both daily and weekly moving average convergence and divergence indicators are in
the positive territory.The short-term outlook on the stock is bullish.
It may hits Rs 113 in the approaching sessions.Traders with a short-term perspective can buy the stock while maintaining a stop-loss at Rs 96.5.
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