* NIFTY/ SENSEX !
Nifty - Targets of Technical Rally NOT Achieved - Use Intraday Declines to Buy for 1-2 Days
Select Banks and Mid-Cap IT Stocks ready for Another Upmove in coming Days
* IFCI !
Bulllish braeakout in short term charts -Use corrective decline towards 58 for buying with target 69+
* LANCO INFRA !
Strong resistance around 264-Move above this resistance will target 300 in coming weeks
* GMR INFRA !
Likely to face resistance around 850 -Book part profit to re-enter at lower levels
* RELIANCE INDS !
Strong support around 1798-Bearish breakout with volumes will target 1740-1751
* ORBIT CORP !
Bullish pattern in making-Another colse above 370 will target 425 in few sessions
* STATE BANK !
Moves above the crucial resistance 1625-Another close above 1625 will target 1700 in short term
* TATA MOTORS !
Over slold in extreme short term charts-Technical recovery to 695+ in few days
* RANBEXY LAB .!
Bearish pattern in short term charts-Close below 365 will target 340 in few days
* KOTAK BANK .!
Short term charts in favor of decline to 740-Use pull back towards 765 for profit booking
* POLARIS SOFTWARE !
Highly oversold in daily cahrts technical reocvery targets of 135 maintained
* MARUTI UDYOG!
Short terrm resistance at 855 -Buy on bullish crosssover with SLof target of 890
* INFOSYS !
Heading for 1980 in few days -Buy on every decline with SL of 1980
* WWIL !
Mildly bullish in hourly charts -Another close above 58 will target 62-63 in few days
* ESSCORTS !
Technical recovery target of 100+ maintanied-Use decline to buy with SL
* MAH & MAH !
Over sold in extreme short term charts-Buy gradually with SL for taget of 700+
* CUMMINS INDIA !
Bullish breakout in daily charts -All set to cross 485 in few sessions
* SUN TV !
Extreme short term charts in favor of rise to 398 -400 -Buy with SL of 375
* SRF LTD !
All indicators favor rise to 154+in coming sessions-Buy gradually on declines with SL *HIND OIL !
Short term indicators in favor of rise to 115-Buy on every decline with SL
* ADANI ENTERPRISES !
Bullish braeakout in daily charts -All indicators favor rise to 360 in few sessions
* A BIRLA NUVO !
Bullish pattern in making another -Close abvoe 1485 will target 1625 in few days
* TECH MAH !
Highly oversold in short term charts- Buy on every decline for target of 1404
* HEXAWARE !
Hourly charts in favor of rise to 135 -Buy on decline with SL of 115
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Nifty/ Sensex: Anticipated High-Lows for the Week
Nifty: High -4,426 .44 – 4,428 .10 (optimistic 4,464 .12): Low -4,289 .95 – 4,295 .80 (pessimistic 4,275 .35)
Sensex: High - 15,224 .00 – 15,235 .51 (optimistic 15,353 .62): Low - 14,829 .55 – 14,850 .27 (pessimistic 14,731 .22)
PRESENT STATUS OF THE MARKET AND FUTURE ANTICIPATION: Last week indices behaved almost perfectly as far as anticipated highs – lows of the week were concerned – actual lows (4,327 .00 & 14,896 .77) hit almost BULLS EYE (or should we call it Bears Eye) as anticipated lows were 4,330 .81 & 14,842 .54 while highs were approx 0 .75 % higher than our anticipated booking levels; now indices should proceed towards 4,289 .95 – 4,295 .80 & 14,829 .55 – 14,850 .27 (pessimistic 4,275 .35 & 14,731 .22) and on rally up targets are 4,426 .44 – 4,428 .10 & 15,224 .00 – 15235 .51 & if indices do not go to pessimistic down levels (mentioned herein above) by Wednesday then rally targets might become 4,464 .12 & 15,353 .62.
Going further it is to be mentioned here that indices have not yet entered “INTERMEDIATE SELL MODE” & only if Sensex closes this week below 14,850 .27 with black candle while closing in lower half of the weekly candle, only then further lower levels (mentioned in last week’s weekly writeup) will become valid.
Other side of the story is that there are couple of leading indicators (numbers of which are not in majority) like RSI which before start of present fall did not give any negative divergences either in daily charts or in weekly charts giving indication that if indices do not enter into ‘intermediate sell mode’ in near future then these may make double / higher tops before these start final downward journey to targets mentioned in last week’s weekly writeup.
TODAY'S TREND: Full Day Down.
2) MEDIUM TERM TREND (INTERMEDIATE) :
It Continues Sideway.
Last week 150 scrips have closed lower as compared to 188 scrips in the preceding week (av. fall per scrip at 3 .72% is also lower than the av. fall per scrip of 5. 25% in the preceding week) & 78 scrips have closed higher as compared to 41 scrips in the preceding week (av. rise per scrip at 4 .60 % is also higher than the av. rise per scrip of 3 .99% in the preceding week) out of 250 scrips we follow regularly;
Last week’s A-D data is indicating that down move continues although at a slower pace
3) LONG TERM TREND (MAJOR) :
It continues up
4) REVIEW OF OUR 'ON - LINE RECOMMENDATIONS' OF LAST WEEK:
Last week on the buy side 24 trades were recommended involving positions equivalent to 55 .00 % of the capital (30 .00 % on delivery basis) and profit / loss booking was recommended in 18 trades (which included 1 trade of earlier weeks) involving positions equivalent to 26 .63 % of the capital (22.40 % on delivery basis).
In addition under the policy of ‘Sell First Buy Later’ 2 trades were recommended in ‘Nifty August Futures’ involving positions equivalent to 15 .00% of the capital & covering was recommended in both of the same trade involving positions equivalent to 13 .35 % of the capital
AVE POSITION PER BOOKED DEAL WORKS OUT TO BE = 2.72 % of the capital (our target is 5. 00%).
AVE PROFIT PER BOOKED DEAL WORKS OUT TO BE = 01.41% (our target is 3. 00 %).
BOOKED PROFIT ON THE CAPITAL = 00.77 % (our target is 2. 50%). |
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