* NIFTY/ SENSEX !
Nifty - Volatile Week Ahead - Strong Resistance @ 4605-2625/ EST Support at 4533 -4505
Be Very Much Scrip & Sector Soecific - Many Sectors to move in opposite direction
* PETRONET!
All indicator in favor of rise to 75+ - Use corrective delcine towards 60 for buying with SL
* ZEE NEWS!
Highly overbought in daily charts -Corrective delcine to 66 -60 likely
* VOLTAS LTD!
Target of 175 maintained- Buy on every declijne with SL
* RELIANCE COMMUNICATION !
Short term cahrts in favor of rise to 600+ / Buy on decline till 580 with SL
* MRPL!
Bullish breakout in daily charts- Likely to cross 52-53 in next few days
* EXIDE INDS!
Moves out of long consolidation pattern- Likely to cross 62 in near future
* TATA STEEL!
Bullish indication in daily charts -Another close above 710 is-Llikely to target 750 in few sessions
* SATYAM COMPUTER.!
On verge of bearish breakout -Another close below 476 may wipe of Rs20./-
* RELIANCE INDS.!
Bullish but overbought extreme short term charts -In favor of decline to 1865
* BONGAIGAON REF!
On verge of highly bullish breakout -2 close above 55 will target 80+ in near future
* NOIDA TOLL BRIDG!
Short term charts in favor of rise to 37-38 in coming days -Buy on every decline with SL
* RELIANCE CAPITAL!
Short term indicator in favor of rise to 1240 -Buy between 1180 -1190 with SL
* GITANJLI GEMS!
Bearish breakout but oversold -Use technical rally to book profit to re-enter below 240
* TATA CHEMICAL!
Extreme short term charts in favor of rise to 280 -Buy on pull back around 260 with SL
* GTL LTD!
Short term resistance around 235 bullish breakout with volumes to target 250+ in few sessions
* NITIN FIRE !
Break out frorm bearish pattern -Likely to decline to 425 in next few days
* GESCO CORP!
Bullish breakout in hourly charts -Indicators favor rise to 630 in next few days
* KOTAK BANK!
Target of 755+ maintained -Buy on delcine towards 720 with SL of 715
* MTNL!
Bearish breakout for rising channle -Use pull back to book profit to re-enter 151-152
* ROLTA INDIA!
Short term resistance around 475 -Bullish corssover with volumes with target 500+ in near future
* PANTALOON RETAIL!
Breakout from bullish pattern -Charts in favor of rise to580
* NDTV!
Enter overslod zone in hourly charts technical rally to 489 -Likely in 2-3 days
* SUZLON ENERGY!
On verge of bullish breakout close above 1400 will target 1460 in next few days * MPHASIS!
Continues to be in oversold zone -Buy on every delcine for short term target of 290-308 * TRIVANI ENGG!
Corrective decline from 61-62ripe for technical recovery to 55-56
*TULIP
Extreme short term charts favor of technical recovery from oversold zone -Buy grudallyon declines with SL for target of 750
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Nifty/ Sensex: Anticipated High-Lows for the Week
Nifty: High -4600 .80 : Low -4509 .38 – 4,521 .85 (optimistic 4544 .02)
Sensex: High - 15,683 .03: Low - 15,341 .38 – 15,359 .96 (optimistic 15,483 .34) PRESENT STATUS OF THE MARKET AND FUTURE ANTICIPATION: Indices behaved quite nicely last week while being slightly more bullish than our anticipation just like the preceeding week – from the closing levels of preceedingweek (4,504 .55 & 15,272 .72) initially these went up to 4,550 .25 & 15,440 .20 (while our anticipation was 4540 .62 & 15,395 .00) and then these corrected sharply intra week (as was anticipated by us) to lows of the week 4,452 .85 & 15,160 .27 (while our anticipation was 4,457 .27 & 15,112 .22) then these rose very sharply to 4,600 .80 & 15,683 .03 crossing our weekly anticipated highs by an average of 0 .55 % and in the process these achieved our anticipated high ranges which were anticipated to reach by 1st week Aug 2007 showing good speed of rise –
Now since indices have achieved our initial anticipated up targets bulls should play on lower volumes and expect jerky upward movement in present and the next week (from where we are anticipating starting of an intermediate down trend or a good downward move minimum down targets of which should be 4,275 .35 - 4,321 .35 & 14,526 .45 - 14,663 .25 as per prevailing negative divergences in daily /weekly charts) , bullish point is that present ‘intermediate up wave’ should pass some more time if it has to relate to duration of ‘intermediate up waves’ which have existed within present ‘major up wave’ which is continuing since 28th April 2003 (please refer to detailed analysis mentioned in weekly writeup dtd 9th July 2007);
Coming to this weeks anticipation – indices should initially react downward for first 0 .75 to 1 .25 days till support ranges of 4,509 .38 – 4,521 .85 & 15,341 .38 – 15,359 .96 (optimistic 4544 .02 & 15,483 .34) are reached and then these should take a rally to reach / cross highs of last week which were 4,600 .80 & 15,683 .03.
Under present setup optimistic anticipation for up levels are 4645 .00 & 15,720 .00 & on the other hand if indices at any day end during this week breakdown immediate short term support lines (joining lows of 11th July 2007 & 18th July 2007) and close below these lines with black candles then Nifty & Sensex will further fall by 98 points and 280 points respectively from breakdown levels which for Monday are 4517 .74 & 15,358 .69 & these rise by 21 .63 points & 66 .14 points each day for Nifty & Sensex respectively.
TODAY'S TREND: Support in Second Half.
2) MEDIUM TERM TREND (INTERMEDIATE) :
It continues Up.
Last week 131 scrips have closed lower as compared to only 78 scripsin the preceding week (av. fall per scrip at 4 .00% is higher than the av. fall per scrip of 2. 08% in the preceding week) & only 97 scrips have closed higher as compared to 166 scrips in the preceding week (av. rise per scrip at 4 .58 % is also lower than the av. rise per scrip of 5 .19% in the preceding week) out of 250 scrips we follow regularly;
Last week’s A-D data is indicating that within rising market lot of profit booking has started.
3) LONG TERM TREND (MAJOR) :
It continues up
4) REVIEW OF OUR 'ON - LINE RECOMMENDATIONS' OF LAST WEEK:
Last week on the buy side 22 trades were recommended involving positions equivalent to 71 .25 % of the capital (42 .50 % on delivery basis) and profit / loss booking was recommended in 21 trades (which included 4 trades of earlier weeks) involving positions equivalent to 58 .79 % of the capital (33.85 % on delivery basis).
AVE POSITION PER BOOKED DEAL WORKS OUT TO BE = 2.80 % of the capital (our target is 5. 00%).
AVE PROFIT PER BOOKED DEAL WORKS OUT TO BE = 01.70% (our target is 3. 00 %).
BOOKED PROFIT ON THE CAPITAL = 01.00 % (our target is 2. 50%). |
