5240 is the stop loss for day traders... Sustaining below 5240 we may head to 5190-5200.. Broader Market outperforms, closes in green

Nifty View:

As you see in chart Break of purple trendline ( 5240 ) will lead to a short term weakness in the index and it will head towards green line (5190-5200) which will act as a strong support for Index. One can Buy Nifty near 5200 with a stop loss of 5180 for a bounce upto 5250.




Stock View: Arogranite

As you see in the chart there is a triangle formation plus there are huge volumes. The stock is looking good for short term. The stock has strong support around 40-42 levels. Buy Arogranite at current levels of 45-46 for targets of 55/60 with a stop loss of 39. Please make sure its a short term and dont buy it is a trading pick.




Have a nice trading day

Regards

Ankit

Breakout above 5310 ( if at all it happens) should be a huge price volume breakout to achieve next targets of 5450-5500. Supports are at 5190/5140

Stock View: Siyaram Silk Mills

This stock is trying to breakout from red resistance line plus there is a purple trendline which is giving support since 2009. The stock is in good shape till it stays above this purple trendline. Buy Siysil at current levels around 155-157 with a stop loss 150 on closing basis for targets of 165/172. Trade in small qty as vols are usually low in the stock.





Stock View: Elgi Equip

Elgi Equipments is looking good on charts, it needs to cross this red line convincingly to give a breakout. The stock can be bought at current levels of 88-89 with a stop loss of 84.5. A move above 92-93 will bring momentum to this stock and may take it to targets of 100/107. Watchout for higher volumes while its breaking out.




Have a nice trading day

Regards

Ankit

5160-5180 will act as good support... Any dips upto these levels should be used as buying opportunity. Short only closer to 5280-5300 or below 5090

Nifty View:

Today being a triple witching day, markets would be highly volatile so trade cautiously. On the Downside it seems that 5160-5180 will act as good support. And on the upside 5250/5270 will act as good resistance. The expiry of March future contracts may occur between these two levels, so there is a lot to play for the option players this expiry.



Stock View: TVS Motors


As you see in the chart, the green lines here are termed as momentum lines, from which the stock have always tried to bounce back. And Red line is acting as a huge resistance for the stock. So buy Tvs Motors if and only if it sustains above 80 - 81 with a stop loss of 75 with targets of 87/90/100 in short to medium term.

Please watch out for 2 things for a breakout in this stock:

1) Huge vols in the stock
2) Sustained move above 80-81.




Stock View: Alembic Ltd


If you see the chart closely there is a red resistance line from which the stock has retraced back 5 times and a purple support line from which the stock has bounced back 4 times. This indicates these 2 lines are very important lines in the stock's history, now the future lies in the fact that breakout above the red line may fetch very good returns. So Buy Alembic at current levels of 50 with targets of 55/ 62/65 in short to medium term with a stop loss of 44 on closing basis. The long term targets remain at 75/90.



Stock View: Den Networks


Being a very recent listing it doesnt have enough data to analyse it deeply. But just buy looking at the chart it seems that it is facing a lot of resistance in 200-205 zone and the support seems to be in the range of 170-175. So Buy Den Networks if it sustains above 200-205 for quick targets of 220/230 with a stop loss of 190. This is a very short term pick and people should sell if stop loss gets triggered.




Have a nice trading day

Regards

Ankit

RBI hikes repo & reverse repo to curb Sky-rocketing Inflation... Nifty Strong support @ 5140-5160

Nifty View:

It is inevitable that there will be a gap down opening but Nifty has strong support @ 5140-5160 ( red line ). So rather shorting at these levels buy around these levels for some dead cat bounce. The next support comes in around 5085-5095 ( triple bottom at 5090 + 20 ema at 5096 ). Before 5085 there is no worry for Bulls and Below 5085 there is no worry for Bears.




Stock View: DCHL

On friday stock closed at month's high ( near the breakout level ) with higher volumes, so technically its looking very good. Buy on dips in the range of 167-170 with a stop loss of 160 on closing basis for targets of 185/190


Have a nice trading day!!

Regards

Ankit

Leave Nifty and other Indices... Focus Smallcaps / Midcaps

Nifty View:

The view remains the same. 5250-5300 will act as resistance & 5200/5160 will act as supports on downside.


Stock View: Greaves Cotton

For extreme short term/ momentum players: Buy if sustains above 298 for targets of 315/320.

For short term players: Buy at current levels of290 with a stop loss of 280 for targets of 320/ 340.




StocK View: Greenply

Range bound for a long time, now may be ready for breakout. Buy if sustains above 205 with a stop loss of 190 for targets of 220/230




Stock View: BRFL



Have a nice day

Regards

Ankit

Nifty falls back from 5250-5300 as expected, Chennai Petro targets achieved.... Now keep a trailing stoploss at 5100 for longs

Nifty View:


As you see in chart, these 3 dark red resistance lines will act as barriers for any upmove in Nifty in future, these are placed at 5300, 5500 and 5750. Once 5300 ( previous high ) is crossed with convincing vols then u can expect a move to 5500. In each case please look for larger vols and market wide rally to confirm that its a breakout not a FAKEOUT!!!






Stock View: EverestInds


The stock is witnessing a triangle chart pattern and is making higher lows in last one and half month. EverestInds need to sustain and close above 185-187 for targets of 205/220 in short term. But make sure that you buy only if it sustains above 185-187.




Have a nice trading day

Regards

Ankit

Emotional Atayachaar ends, Nifty finally wakes up.... Series of Resistances seen between 5250-5300, Dont b overleveraged and trade cautiously

Nifty View:

Straight upmove from 4850 to 5200 with no major dips, this rally will stop anywhere between 5250-5300. To take out the previous high Nifty needs to correct from this resistance band, consolidate and start a fresh upmove with much higher volumes. I advise people not to be overleveraged at current levels and keep booking profits at higher levels. Support for Nifty Future now is 5160/5143.





Stock View: Vakrangee Soft

As you see in the chart, there is a red line which is acting as a huge resistance for Vakransoft since June 2009 ( 5 th attempt to cross the line was made yesterday, will it cross this time??? ) plus there is a triangle formation on the charts as well. Stock if sustains above 87-88 can give a sharp move to 100/120 or you can buy this stock at current levels of 84 with a stop loss of 78 with above mentioned targets of 100/120 in short to medium term.




Have a rocking day

Regards

Ankit

Emotional Atyachaar continues for 8th consecutive day for Day traders & ( most importantly ) RMs while Nifty takes its time to decide where to go :P

Yes, its Mental torture or you can say Emotional Atyachaar for any day trader as day traders need atleast 1-2% moves to play but Nifty for the past few days has passed the duration of 6 hours 30 minutes alotted in a day by the exchanges ( which can be increased also :(, if this goes on for a long period of time ) moving in a range of 30 points which is very irritating for any day trader

Nifty View:

Nothing has changed in Nifty since last 24 hours, so the view remains the same. 5090 on the Downside and 5180-5200 on the upside are the two important levels to watch out for.



Stock View: MSK Projects

Perfect triangle breakout, if and only if MSK Project sustains above 130. The green line has been the life line for the stock since November 2009, everytime the stock has come closer to this line it has bounced back sharply. So Buy MSK Proj at current levels ( for high risk traders ) or buy if it sustains above 130 ( for conservative traders ) for targets of 140/148 with a stop loss of 118.




Have a nice trading day

Regards

Ankit

No doctor says that it is necessary to trade everyday. 5090 on downside and 5190 on the upside are the two important levels

Nifty View:


Very short term traders move your trailing stoplosses to 5090 whereas short term traders with a high risk apettite can put their stoplosses at 5000. Right now we are in a No- Trade Zone, so wait for the breakout above 5200 or a breakdown below 5090. Any upmove with low volumes can be a huge trap for retail investors, so watch out closely for volumes.



Stock View: Chennai Petro


The stock was unable to cross 250-255 range since last 2 months but on Friday it closed at 254 giving a weekly breakout and that too with higher vols. Buy Chennai Petro at 254-256 with stop loss of 245 and target of 275 in short term.




Due to health realted problems i was not able to post on the blog during whole of the last week, so sincere apologies to those who came during this period.

Have a nice trading day

Regards

Ankit

NIfty crosses 5060-5080 but on very low volumes, Markets looking overbought & may see a correction before further upmove. Next resistance at 5150

Nifty View:

Markets looking overbought as it was 3rd straight day when Nifty closed up in the green, investors are advised to book profits at regular intervals because there would be a dip before any further upmove.

Stock View: Dalmia Cement

As you can see in charts, there is a cup & handle formation. If Dalmia Cem gives a sustained close above 220-230 then you can expect short term targets of 270 & long term targets of 300 and 370. Keep it your portfolio once it gives a breakout, good company & great teachnicals.





Have a nice day

Regards

Ankit

Book Profits if u bought at lower levels, Avoid fresh longs in Index at these levels. Midcaps/Smallcaps to play catchup

After the bounce back of more than 300 points on Nifty from the low of around 4700 it is advisable to square off your positions if u got a chance and had cash to enter at lower levels. Now try finding out stocks/sectors which have underperformed the markets & are likely to play the catch up game for the coming days.


Nifty View:

As we see on the charts there is a higher low formation everytime Nifty corrects and this pattern is being observed since August 2009, once this pattern gets voilated then we may get to see a larger type correction. Meanwhile this bounce back is likely to stop at 5060-5080 as 5060 is 61.8% retracement of the entire fall from 5300 to 4675. On the downside 4970/4950/4920 will act as supports. Avoid fresh longs in the index at current levels.




Stock View: Gtlinfra

Gtl Infra stock is witnessing a triangle like formation since past 2 months and is likely to breakout in near future. The stock can be bought above 44 with a stop loss of 41.5 for targets of 47/49 OR the stock can be accumulated between 41-43 with a stop loss of 39.5 for targets of 45.5/47. Do exit the position if stoploss in any case gets triggered.




Have a nice trading day

Regards

Ankit