EXIDE BREAKOUT TARGET 125
EXIDE brokeout today with very high volumes and what is more heartening is that while most other stocks sulked in the volatile market and closed substantially lower than the day high, this stock maintained the breakout in the close. The medium term momentum has been very impressive.
Keep a close eye for next couple of days and if it sustains above 110 then it should head for targets of 125 and 140.
Nifty :: As we say in yesterday post V shape rally not possible after V shape down fall and it is.. Last candle made incomplete Dark Cloud Cover bearish candle pattern.. Now farther up move required to break 4948.. Till then momentum looks side way or down.. May be Nifty consolidate in between 4764 to 4948 level.. Now buying S.L at 4764 and sell S.L at 4948.. Our strategy for 11th Nov. up to 4948 sell at high (S.L 4948) buy in deep (S.L 4831).. Resistance for up move at 4905/4930/4948/4968/4990.. Supports at 4860/ 4840/4831/4790/4764…
M&M Stock is making a new High and institutional are quiet bullish on it.Looking technically at this stock is taking support at its trend line (Shown as green color in the chart)Stock is an ideal candidate to be bought on dips.
But one point of concern is Negative divergence which is observed in RSI and MACD.But to bring to user note that indicator can remain in negative divergence for a long period of time.
On upside the stock can touch 1150 touching the upper band of trend line,
The market did open flat to positive with seen a very volatile session since morning and ended with marginal loss and also closed below 4905 which is its weekly support. Market again taken a very good support from 4855 level which was 3 DEMA and then a strong short recovery helped market to close above its immediate hurdle of 4868 which is its 20 DEMA.Going forward if global cues remains positive we can have still good chance to see the upper side rally as long as nifty is trading above 4855-4820 range and as long as it holds this zone we do expect this rally to continue. A profit booking expected near 4971-5000 range again as of now.and then fresh selling is expected also if these levels are not being taken by the bulls.
Quiet global cues and a lackluster day of trade saw the market end in the negative. The market lost all its morning gains to profit booking by the day end. Experts feel the market could consolidate for a few days now. While metals outperformed, realty stocks continued to get pounded. Sensex shut shop at 16440, down 58 points and Nifty at 4881, down 16 points the previous close. CNX Midcap index was up 0.32% and BSE Smallcap index was down 0.38%. The market breadth was negative with advances at 559 against declines of 714 on the NSE. Top Nifty gainers included Tata Motors, Ambuja Cement and Cipla while losers were Hero Honda, Bharti Airtel and DLF.
NIFTY (4881.7)
Resistance : 4920 / 4945 / 5010
Support : 4840 / 4760 / 4730
SENSEX (16440.56)
Resistance : 16620 / 16810
Support : 16325 / 16200 / 15800
NIFTY FUT (4874.7)
Resistance : 4930 / 4990
Support : 4835 / 4795 / 4745
MKT COMMENTS
NIFTY FUT OI down 5.34% with 13% increasing volumes indicating unwinding of long positions.
We expect selling will emerge on every rise. NIFTY FUT to trade volatile.
On Tuesday,Opening Is Flat To Down,
Buy NIFTY Above 4910,Sl Below 4890,Tgt 4935/4955/4970/4990
Sell NIFTY Below 4890,Sl Above 4910,Tgt 4865/4845/4830/4810
BUY
JSWSTEEL, Sl 810,Tgt 880/890/900
SBIN (2369),Sl Below 2355,Tgt 2380/2390+
POLARIS Above 165,Sl 160,Tgt 170/175
Sell ACC Below 715,Sl 725,Tgt 700/690
Honeywell Automation India Limited - HAIL is a leading provider of integrated automation and software solutions that looks at increasing productivity, enhancing comfort and ensuring safety and security. The company has around 2500 employees in India and is headquartered in Pune. It was setup in 1987 as a JV between TATA and Honeywell with manufacturing, design and engineering facility in Pune. In 2004, the parent company bought the stake of TATA. The company is today a leader in many of the business segments in which it operates in India.
The company has shown constant growth over the years in both topline and bottom line and stands far ahead of the other automation players in the country. It has a very strong footing in the hydrocarbons and processing industries space and the company is almost debt free. The company usually funds its expansion plans out of its internal accruals.
The company has presence in five major segments - in building solutions, environmental and combustion control, sensing and control systems, export divisions and processing solutions. The process solutions forms the major chunk of the revenues for the company and it accounts for more than 60% to the revenues. Honeywell has more than 20% market share in this space followed by ABB and Siemens.
However, companies like ABB and Siemens have a strong presence in power automation space and they are leaders in their own rights in equipments manufacture for power transmission and distribution. It is not that Honeywell will not be able to do them. Its just that it does not bids for contracts from power utilities and has been selective in taking up orders. However, with more and more private players jumping into the power generation space, Honeywell is expected to aggressively look into these segments.
In the hydrocarbon sector, the company has strong relationships with the majors like BPCL or IOC. Hydrocarbon industry is a key customer for various automation needs. Honeywell, apart from carrying out development and installation projects, plays an active role in maintenance as well.
One most well known category, when anybody thinks of Honeywell is the building solutions space, where has provided many successful products. The offering include fire automation, security solutions, energy conservation and building management systems. With the rebound in the real estate segment and with the growth of more and more office premises and Out of home gathering places, these products are expected to witnessed robust growth in the years to come.
The company has grown its revenues at a CAGR of around 25% over the last 3 years, while the net earnings grew at a CAGR of around 82 crore in the same period. For the first 9 months ending Sep 2009, the company has grown its earnings by more than 70% compared to the year ago period.
The company has shown constant growth over the years in both topline and bottom line and stands far ahead of the other automation players in the country. It has a very strong footing in the hydrocarbons and processing industries space and the company is almost debt free. The company usually funds its expansion plans out of its internal accruals.
The company has presence in five major segments - in building solutions, environmental and combustion control, sensing and control systems, export divisions and processing solutions. The process solutions forms the major chunk of the revenues for the company and it accounts for more than 60% to the revenues. Honeywell has more than 20% market share in this space followed by ABB and Siemens.
However, companies like ABB and Siemens have a strong presence in power automation space and they are leaders in their own rights in equipments manufacture for power transmission and distribution. It is not that Honeywell will not be able to do them. Its just that it does not bids for contracts from power utilities and has been selective in taking up orders. However, with more and more private players jumping into the power generation space, Honeywell is expected to aggressively look into these segments.
In the hydrocarbon sector, the company has strong relationships with the majors like BPCL or IOC. Hydrocarbon industry is a key customer for various automation needs. Honeywell, apart from carrying out development and installation projects, plays an active role in maintenance as well.
One most well known category, when anybody thinks of Honeywell is the building solutions space, where has provided many successful products. The offering include fire automation, security solutions, energy conservation and building management systems. With the rebound in the real estate segment and with the growth of more and more office premises and Out of home gathering places, these products are expected to witnessed robust growth in the years to come.
The company has grown its revenues at a CAGR of around 25% over the last 3 years, while the net earnings grew at a CAGR of around 82 crore in the same period. For the first 9 months ending Sep 2009, the company has grown its earnings by more than 70% compared to the year ago period.
With the Dow back above 10,000 (as of Thursday's close, at least), the message from many on Wall Street is: Hurry! The recovery train is leaving the station! Don't miss out on the next phase of the bull market!
Not so fast, says Robert Prechter, president of Elliott Wave International and author of Conquer the Crash.
"Everybody who's saying ‘buy stocks' today or ‘buy real estate' is, I think, setting up people to get really hurt," says Prechter, who believes the bear market rally is reaching a major top.
"We had a great opportunity at [S&P] 667 - that was the big opportunity," says Prechter, who did make a bullish call last February. "The market is up 60% [from the March lows]. There's no way the S&P is going up 60% from here."
Prechter's advice for most investors, as described in the recently released second edition of his book, is fairly simple:
Play it Safe: Keep as much of your assets as possible in cash and cash equivalents, Prechter recommends, stressing not all money market funds and bank CDs are created equal -- or equally safe. (Prechter also advocates exposure to gold but isn't as bullish on it today as he was in 2002, as discussed here.)
Patience Is a Virtue: "Sit back, relax. Be as safe as you can [and] in safe institutions," he says. "There's a great buying opportunity coming up around 2014, 2016."
Return Of Capital Is Key: "Be very careful," he says. "Don't lose the money you have saved in the markets that are likely to come down in 2010 a long way."
From Prechter's perspective, "there's no negative to getting safe." The worst thing that happens is the market keeps rallying and "you can't brag at cocktail parties," he says. "But at least you won't be crying because you lost half" of your assets.
(Web Link and video: http://finance.yahoo.com/tech-ticker/article/367381/Wall-Street-Is-Setting-Investors-Up-for-Another-Hurting,-Robert-Prechter-Warns)
More About Robert Prechter:- http://en.wikipedia.org/wiki/Robert_Prechter
Robert R. Prechter, Jr. (born 1949) is known for his financial forecasts using the Elliott wave principle. Prechter has authored or edited 14 books, including Conquer the Crash, a New York Times bestseller. He has also published monthly financial commentary in The Elliott Wave Theorist since 1979, and is the founder of Elliott Wave International and New Classics Library.
Nobody can be perfect all the time:- While Prechter has his admirers, he has been criticised by media and pundits. His long-term track record from his newsletter calls has been poor. Using data from newsletter tracker Mark Hulbert, syndicated columnist Eric Tyson showed that Prechter has underperformed the broad market averages by 25 percent per year since 1985
Videos on YouTube about his interviews http://www.youtube.com/profile?user=elliottwaveintl&annotation_id=annotation_752964&feature=iv
Today (10-11-09) Nifty high was 4948 ie. 12 point short of centre of Anthara Gandharam at 4960, though same swaram (Madhyamam in 19x scale)was touched. Nifty closed the day at 4882 with a loss of 16 points, just below the Agni level for the day at 4887. As tomorrow's Agni level is at 4953 and Surya level at 4938, Nifty is likely to attempt again to touch the centre of Anthara Gandharam tomorrow. However, avoid going long now, since Nifty is below the Agni level.
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