Sensex

Thursday, July 05, 2007

$$ DreamGains !! $$ Index Stocks Status

 

Index Stocks Status

Introduction - The report captures the current status of index stocks and points to you where the best opportunities are. The newsletter can help you decide on futures strategy. 

Stock

CMP

Comments

Action

ABB

1121

The stock is in strong uptrend with ADX > 40, and +DI > -DI. The stock should correct or trade sideways. The upsides capped at 1150. It is overbought

PASS

ACC

1022

yesterday it made a mega move

PASS

Bajaj Auto

2119

The stock should be looked from attractive buying opportunity. The stock is currently rangebound between 2100 and 2200. The momentum in the stock will come above 2200.

BUY > 2200

Bharti

860

There is strong resistance at 880. The stock has been trading sideways between 800 and 880. The upside seems capped at 880.

BUY > 880

BHEL

1545

The stock is in strong uptrend. Currently it is consolidating sideways between 1510 and 1560

BUY > 1560

 

Stock

CMP

Comments

Action

BPCL

340

The stock is finding strong support at 330 but upside seems capped at 370.

PASS

Cipla

218

There is resistance near 100 day moving average near 225

PASS

Dabur

102.4

The stock is trading sideways between 102 and 105.

PASS

Dr Reddy

663

Stop Loss = 650. The stock is seeing buying in oversold zone. The stock can inch up to 735. But the problem is of lack of momentum.

BUY

GAIL

308.5

It is a difficult stock to trade. There is considerable resistance at 315-320.

PASS

 

Stock

CMP

Comments

Action

Glaxo

1260

It is a low risk buy. The stock has a tendency to be all over all the place. It can reach 1320. But there is no momentum

PASS

Grasim

2739

2900 looks achievable on charts

Buy on declines

Guj Ambuja

130

There is momentum in cement sector

Buy on declines

HCL Tech

332

Rangebound between 320 and 350

PASS

HDFC

1982

Support may come at 1950 - still overbought

PASS

 

Stock

CMP

Comments

Action

HDFC Bank

1151

Sideways consolidation above 1150 - still overbought

PASS

Hero Honda

686

All over the place between 650 and 720

PASS

Hindalco

156

Slipped below 200 day moving average - now 100 day ma of 146 on cards

SHORT @ 160

HLL

197.5

Target = 205 on cards after breakout above 195

BUY

HPCL

265

Strong Support at 260 - upside capped at 280

PASS

 

Stock

CMP

Comments

Action

ICICI Bank

986

Upside resistance at 1000 - stock is overbought

PASS

Infosys

1931

Strong support at 1900 - upside capped at 2100

PASS

IPCL

342

Rangebound between 330 and 350

PASS

ITC

158

The stock is in buy zone but no momentum - Resistance = 160

PASS

L&T

2293

Overbought - Buy on declines near 2100

PASS

 

Stock

CMP

Comments

Action

M&M

749

The stock is sideways between 700 and 800. Momentum is expected above 750

BUY > 750

Maruti

2739

The upside is capped at 840 - currently overbought

PASS

MTNL

163

Sideways between 130 and 170

PASS

NALCO

261

Rangebound between 255 and 265. There is no strength

PASS

ONGC

872

Strong resistance at 940 but strong support at 850-860

BUY at 850-860

 

Stock

CMP

Comments

Action

PNB

1260

Sideways between 520 and 560 - there is no strength

PASS

Ranbaxy

367

The upside seems capped at 380 - there is no momentum

PASS

RCOM

542

BUY on declines near 530 - TARGET = 580

Buy on declines

Reliance Energy

613

Difficult to trade

PASS

Reliance

1718

Target = 1750 and then 1800

BUY near 1700

 

Stock

CMP

Comments

Action

RPL

114

Overbought consolidating at higher end of the band

PASS

SAIL

132

It seems today this stock may see strong buying - Target = 140

BUY

Satyam

471

Sideways trading with support at 456

PASS

SBI

1564

Buy on declines

PASS

Siemens

1412

Formation of shooting star - can fall to 1376

PASS

 

Stock

CMP

Comments

Action

Sterlite Ind

600

Support should come at 580

PASS

Sun Pharma

1022

Trading sideways to down

PASS

Suzlon

1478

Strong Uptrend - should be bought at current levels - still overbought

BUY

Tata Motors

701

The stock can move to 750 - breakout above 700

BUY

Tata Power

656

There is strong resistance at 680 -trading sideways

PASS

 

Stock

CMP

Comments

Action

Tata Steel

616

A move above 620 can attract momentum buying for target of 660

BUY > 620

TCS

1118

There is strong resistance at 1150

PASS

VSNL

490

Strong resistance at 510

PASS

Wipro

508

Strong support at 500 - BUY > 520

PASS

Zee

299

There can be strong buying > 300

BUY > 300

Observations -

·         There is no momentum in Pharma companies but there is buying interest visible in Cipla, Ranbaxy and Dr Reddy. Dr Reddy looks the best. A long position can be taken with stop loss below 650.

·         Steel and Autos look best for today. The picks are - M&M, Tata Motors in Autos and TISCO and SAIL in steel.

·         In side counters - HLL and Zee looks best

·         On dips, Suzlon looks best.

·         ONGC should find support at 850-860 - 200 day moving average

·         Breakout Play - RCOM

·         Reliance also looks good above 1700

·         Keep an eye on Bajaj Auto for move above 2200

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Regards

BigGains !!
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