Dow Jones closed, Europe closed, Do whatever with Nifty today.... 5080/5110 are the resistance zone on upside and on downside Nifty may find support at 5000/4970

Stock View: Noida Toll

The stock has been beaten down almost 20% from the levels of 33-34 to levels of 27 since last 2 months. The stock is taking good support @ 26.5 -27 levels due to previous bottoms around these levels. The worst for the stock may be over if it does not break 26.5 level. Buy Noidatoll at current level of 27.5 with a strict stoploss of 26.5 and look for targets 29.2/30.5 in short term.

Stock View: Nationalum

The stock has been trading in this rectangular box since last 2 months, whereas markets have corrected almost 10 % from the peak there has been no effect on the stock whatsoever. There may be accumulation going on in this stock on every decline or something must be cooking in the stock. Either a sharp rise or a sharp decline is not ruled out. Buy Nationalum only if it sustains above 421 with a stop loss of 405 on closing basis and look for targets of 435/448 in short term.

Have a nice trading day

Regards

Ankit

5085/5100 will be a hurdle for Bulls... A close above 5200-5230 will only confirm the possibility of seeing a new high

Stock View: ITC

The stock outperformed the markets after delivering gr8 results for the last quarter. A close above 275 has given some sort of confirmation of a breakout. Short term traders can look to Buy ITC at current levels of 275 with a stoploss of 269 on closing basis and wait for targets of 285/290 in short term. Patient players needed in this stock as stock may took longer than expected time frame to complete targets.

Have a nice trading day

Regards

Ankit

Nifty holds on to 4800 on closing basis, Highly oversold markets - A bounce not ruled out before any further fall ( if there is any ). 4865/4895 are the resistances on the upside

Stock View: Educomp

Have a nice trading day

Regards

Ankit

Comparisons between the fall in both Dow Jones & Nifty that took place on 24 th May 2010..... For today Nifty again will get huge support from 4800-4850 levels, any rise will face resistance around 4950/4975

Comparisons between the fall in both Dow Jones & Nifty that took place on 24 th May 2010:

The above two charts are the intraday charts for the date 24th May 2010 of Dow Jones  ( left one ) and Nifty ( Right One ).Sometimes it is difficult to tell who is following whom?. Is it Nifty that tries to preemt whats going to happen at the Dow Jones? or Is it DowJones that sometimes forms the exactly same pattern that Nifty made during its trading hours? The corelation sometimes gets so high ( 90 % ) that the charts appear to be manipulated or hand made/ art work by a III class student but I hope they are not. We all know that in the morning the first question a Day Trader/ Relationship Manager asks to his/her colleague is " Abe Dow Kal Raat Kaise Band Hua / How did the Dow Jones close yesterday?? ", sometimes this question has more relevance than  " How are you ? ". The corelation is such that the most of times almost all Asian Markets open in the same territory ( Green/ Red ) where Dow Jones closed. In the above 2 charts, the similarities are 1) Pattern of whole trading day is same 2) Exactly 1 pm selling starts 3) Pattern of fall in both markets is same 4) Top is made between 12-1pm. The only difference is that Nifty spent most of the trading day above the previous closing price ( in the green and at the end erased almost all the gains) whereas Dow Jones spent most of the day below the previous closing price ( in the red and at the end the fall exceeded to triple digit fall ). This is just an observation and nothing is meant to be proved here.



Have a nice trading day

Regards

Ankit

4885/4905 are the key supports on the downside... Nifty may face huge resistance @5000-5025

Stock view: Lupin

The stock has been consolidating between 1750-1820 for most part of the month. Now if it breaks 1820 u may see a spurt on the cards. Buy Lupin only if it sustains above 1820 for quick targets of 1860/1880 with a stoploss of 1790.

Stock View: IOC

The stock is facing huge resistance zone between 333-335 and is likely to breakout with factors like crude in favour of the stock. For a short term trade Buy IOC at current levels of 330 for quick targets of 345/360 in short term with a strict stoploss of 320. Keep a strict stoploss as stock has already moved 10% in few days.

Stock View: BalramChin

Some signs of bottom formation is visible on the charts for this sugar stock. If you see stock has been consolidating between 70-75 for a while and has multiple bottoms around 70. Buy Balramchin at current levels of 73 with a stoploss of 70 on closing basis and look for targets of 79/83 in short term.

Have a nice trading day

Regards

Ankit

4800/4850 are the key supports on downside and a bounce is expected not ruled out from these levels before any further downside ( if any ). Long term money should be invested in 4500-4800 zone

Nifty View:


As we see in the chart the medium trend was  turned down as the purple line was broken and green line around 4500 is very important as it is a long term trend decider, ( if buy any chance we give sustained closing below 4900 then pack ur bags and go home then we may consider this bull market over ). I have been consistently mentioning that 4800/4850 are very important supports and break/sustained close below these levels will mean we may be headed to 4500 ( green line ). As we all know sometimes there are over reactions to any news or panic is at peak level so there could be one more possibility may emerge that we may dip to last intermediate bottom around 4700 in intraday or stay there for 2-3 days and bounce back sharply to close above 4800. In that case neither Higher low pattern will be broken and u may also see a kind of double bottom formation. So watchout for this possibility and those who are waiting to deploy cash should do slowly now between 4500/4800 in a staggered manner.

Have a nice trading day

Regards

Ankit

4890/4850 are the short term supports and Nifty is likely to face stiff resistance around 4955/4970. Do u all remember this post --- Oct 2009, Jan 2010, Now May 2010....??? To see comparisons read this post.. If not read again

Nifty View :

Going by the earlier patterns we are likely to make a higher bottom if we want that the long term uptrend should be continued. If this has to be higher bottom then it should be above previous bottom of 4690 and I think it will lie somewhere around 4800-4850 as there we have trendline and channel supports there. SO ITS NOT THE TIME TO SELL AND PANIC, ITS TIME TO BUY STOCKS IN STAGGERED MANNER. Sustained closing below 4800 and breaking previous lows of 4690 will negate everything and every startegy has to be rethinked. Dont be overleverged.

PREVIOUS POST ABOUT NIFTY --- MUST READ.

Oct 2009, Jan 2010, Now May 2010....??? To see comparisons read this post..



Nifty View:

Now in May 2010 , yesterday Nifty has again broken the purple momentum line in the same fashion it did in Oct2009 and Jan2010. Assuming that this fall will also take care of  Higher top Higher Bottom, I am expecting that this fall will be less than 11.6% ( previous fall). Lets say this time around 10.5%(going by the trend of almost 1% decrease in each fall) which will correct Nifty upto 4830-4860. And going by the trend of the no. of  days Nifty took to complete each fall, 9( first fall Oct2009),23 (second fall, Jun2010).9+14=23+14=37days ( May 2010). Out of which we have already completed 18 days, so i predict around 19 days are there to make a bottom.


Oct 2009 ( Nifty made a new High).

2 MONTHS LATER.

Jan 2010( Nifty made a new high).

2 MONTHS LATER

APRIL 2010 ( Nifty made a new high ).

2 MONTHS LATER

July 2010 ( Will Nifty make a new High after completing the fall and finding a higher bottom in 37 days ????? )

Its only a sort of analysis I have attempted , the levels or days can vary a bit.

 

Have a nice trading day

Regards

Ankit

5020/4998 are the supports on downside, If Nifty stays above these two levels it may be headed to 5090/5110

Stock View: IDEA


The stock has outperformed its peers like Bharti Airtel in the recent fall in telecom stocks, but this outperfrmance will not last longer if it gives a sustained closing below 50-53. As you see in the chart if we take last 19 months in to consideration there is a head and shoulders pattern observed. Going by this pattern if it gives a sustained close below 50-53 it may correct by 15-20% and may be headed to around 40 odd levels. So wait for 40 around levels to invest in this stock if 50-53 is broken.

Stock View: Jet Airways

Buy JetAirways at current levels of 510 ( with a stop loss of 500 ) or wait above 524 to cross and look for targets of 538/542 in short term.


Stock View: National Aluminium

Buy Nation Alum if it sustains above 420 with a stop loss of 414 and look for targets of 435/440 in short term.


Have a nice trading day

Regards

Ankit

5015-5025 should act as a good support on Nifty, if broken expect a move to previous lows of around 4980.

Stock View: IDBI

Idbi has been consolidating in a tight range since last three months. The stock has strong support around 112.5 -115 which includes lower end of parallel channel and last two bottoms around 112.5. I recommend medium term players to Buy IDBI part qty in the range of 112-114 and the other part qty in the range of 105-107 and look for medium term targets of 130/145.

Stock View: Suntv

The stock gave a nice little breakout on Friday ( although on low volumes ) and is now looking good on charts. Buy Suntv on dips in the range of 430-435 with a stoploss of 420 and look for targets of 450/455 in short term.

Have a nice trading day.

Regards

Ankit

Nifty's major support is around 5145/5098. Nifty breaking 5098 will favour the Bears and close above 5185-5195 will favour the Bulls

Stock View: Neclife

The stock is trading in a parallel channel since last 2 months plus also trying to break previous highs. If breaks previous high than can give a good upmove. Buy Neclife if it sustains above 43-43.5 with a stoploss of 41.5 and look for targets of 47/49 in short term. Do check while stock is giving a breakout the vols are higher than previous days or not.

Have a nice trading day

Regards

Ankit

Nifty is likely to see range bound moves 5100 and 5200. 5135/5100 are the levels to watchout on downside. While upside resistances are placed 5185/5205

Stock View: OIL

The stock has given a nice little breakout on the charts and is looking good for the short term. The stock can be bought at current levels of 1160-1165 with a stoploss of 1130 and look for targets of 1195/1220.

Stock View: IFCI

Parallel channel ( stock sandwitched between red and purple line ) + Long term green support line indicates that stock is poised for a breakout, but the confirmation will be there when it sustains and give close above 54-55.
For Traders : Buy Ifci if it sustains above 54-55 with a stoploss of 51.5 and look for targets of 59/60 in short term.
For Short term players: Buy ifci at current levels of 52-53 with a stoploss of 49 and look for targets of 60 in short to medium term.

Have a nice trading day

Regards

Ankit

Nifty now looks weak below 5120-5125 and if breaks may head towards 5095-5080. On the upside momentum above 5282. Dont be overleveraged at these levels

Stock View: FDC

The stock is looking very good charts as it is a perfect candidate for Buy on dips because it is making Higher top Higher bottom since last 1 year. Now Buy FDC only if it sustains above 93.5-94 with a stop of 89 and look for targets of 99/102 in short term

Stock View: Neyveli Lignite

Perfect Triangle pattern with a strong base is being witnessed in Neyveli Lignite. The stock can be dealt in 2 ways:
For Risky Traders. Buy Neyveli Lignite at current levels of 148 with a stop of 143 on closing basis and look for targets of 154/163 in short term.
For Conservative Traders: Buy Neyveli Lignite if it sustains above 154-155 with a stop loss of 149 and look for targets of 163-165 in short term.

Have a nice trading day

Regards

Ankit

Bears trapped now in the market... On the upside Nifty has to close above 5300 to be in full control of Bulls, 5160/5180 are immediate supports on downside

Stock View: Maruti

The stock is trading in a downward sloping parallel channel since the last 6 months and now after touching and holding  the lower end of parallel channel during the recent fall in markets, the stock is poised for an upmove towards the upper end of channel. There are two scenarios to get into stock.
1) For Traders: Buy Maruti above 1300 with a stop of 1375 and look for targets 1326/1345.
2) For Short term players: Buy Maruti  at current levels of 1300 with a stop loss of 1250 on closing basis and look for targets of 1350/1380/1400/1440 in near term.

Stock View: Hoteleela

Even when markets were correcting sharply in the last few days, the stock stood its ground around 48-50 levels and now eventually is looking good for a breakout. Buy Hoteleela above 51 with a stoploss of 49 on closing basis and look for targets of 53/55.

Have a nice trading day

Regards

Ankit

FTSE, DAX & Nifty chart updates. World Markets are poised for a bounce back. Avoid shorting at lower levels

 Nifty View:

Nifty has fallen almost 200 points when it broke its crucial support of 5180/5200. Now the question is where is the next support for Nifty??. The answer is  It is placed at around 4950 and there are two reasons to defend my point of view:
1) 61.8% retracement level of the entire rally from 4675 to 5400 is placed at around 4950.
2) 200 day moving average which is seen as a good support is also placed at 4960.
Till we dont close below 4950 on a sustained basis we can see a bounce back till 5070/5125 in coming days. So people are requested to cut their short positions in the range of 4950-4970 and some long positions can also be created.

FTSE View:

The FTSE Index has fallen 700 points from the top ( 5800 to 5100 ) and is looking oversold if you look at Relative Strength Index which is going below to 20 to touch its historic lows. Major Support for FTSE id in the zone of 5000-5100. If you see at the expanding triangle the base line will provide strong support at the above levels.. So considering these 2 points a bounce back is definitely not ruled out and may happen anytime in next few days.

DAX View:

The DAX Index has also fallen almost 600 points from the top ( 6300 to 5700 ) and is looking oversold if you look at Relative Strength Index which is going below to 30 to touch its historic lows. Major Support for DAX id in the zone of 5600-5700. If you see at the almost parallel channel being formed on the charts, there is a strong support at 5600-5700 ( green line ) where the lower end of the channel is placed. So considering these 2 points a bounce back is definitely not ruled out and may happen anytime in next few days.

Stock view: Cipla

Looking at this Cipla's chart, a very beautiful inverted Head & Shoulder pattern is observed and it has taken almost 5 months to complete this formation. Cipla just needs to overcome some resistances near 355-360. Buy Cipla if it sustains above 357-360 band or closes above 360 for short term targets of 385/390/410.

Have a nice trading day

Regards

Ankit

6th May 2010 -The day when 1 trillion $ of market value was lost and how 6% returns could have been earned in almost 6 minutes

Add budding_entrepreneur1987 yahoo id for intraday support



The day when you don't want to be day trading at New York Stock Exchange ( NYSE ).

Nifty bounced back from 5250 as expected and posted yesterday, Now for Intraday watchout for 5270/5250 as supports on downside and 5160/5180 as resistances on the upside.

Add budding_entrepreneur1987 yahoo id for intraday support

Stock View: India Glycol

The stock is consolidating after giving a big breakout in first week of april. The stock is facing lot of resistance around 149-150. Buy India Glycols if it sustains or close above 149-150 with a strict stoploss of 140 and look for targets of 157/163/169.

Stock View: Uttamstl

Triangle formation on charts since last three months indicates breakout or breakodown on either side . The stock is looking good above 117.5. Buy Uttam Steel only if it sustains above 117-117.5 with a stoploss of 112 and look for targets of 123/129/135 in short term. Intraday also stock will show momentum above 117.5.

Have a nice trading day

Regards

Ankit

Oct 2009, Jan 2010, Now May 2010....??? To see comparisons read this post.. Nifty has good support around 5050/ 5010

Nifty View:

Now in May 2010 , yesterday Nifty has again broken the purple momentum line in the same fashion it did in Oct2009 and Jan2010. Assuming that this fall will also take care of  Higher top Higher Bottom, I am expecting that this fall will be less than 11.6% ( previous fall). Lets say this time around 10.5%(going by the trend of almost 1% decrease in each fall) which will correct Nifty upto 4830-4860. And going by the trend of the no. of  days Nifty took to complete each fall, 9( first fall Oct2009),23 (second fall, Jun2010).9+14=23+14=37days ( May 2010). Out of which we have already completed 18 days, so i predict around 19 days are there to make a bottom.


Oct 2009 ( Nifty made a new High).

2 MONTHS LATER.

Jan 2010( Nifty made a new high).

2 MONTHS LATER

APRIL 2010 ( Nifty made a new high ).

2 MONTHS LATER

July 2010 ( Will Nifty make a new High after completing the fall and finding a higher bottom in 37 days ????? )

Its only a sort of analysis I have attempted , the levels or days can vary a bit.


Open the chart to know how the analysis was done

Have a nice trading day

Regards

Ankit

5200-5220 holds on the NIfty.. Watchout for the resistance at 5270/5300. Only a sustained move or a close above 5350 can give Bulls the upper hand.

Stock View: KPIT

A perfect triangle formation and the stock seems to be a breakout candidate. Buy KPIT if it sustains above 125-126 with a stoploss of 120 and look for targets of 132/135/139. keep booking part profits at three given targets.

Stock View: Mukandltd

The stock is facing huge resistance near 72 zone and yesterday it was the fourth attempt. The stock is poised for a big monthlty breakoout if it closes above 72-73. Buy MukandLtd only if it sustains above 72-73 for quick targets of 79/83/87 and the stoploss for the above trade should be placed at 67. Volumes have also started to pick up.

Have a nice trading day

Regards

Ankit

5220-5200 is the zone where Bulls are likely to give good support, Below 5160 you can witness a sharp fall of 50-60 points

Stock View: Ivrcl Assets and Holdings

The stock is looking good very good on charts, there is a good support zone 172-174 where two supportlines are coinciding. Volumes are only a major concern. Buy IVRCLAH on dips to 180-182 with a stoploss of 173 and look for targets of 190/200 in short term.

Stock View: Tata Tea

Short term Traders: Buy Tata Tea on dips to 1040-1045 with a stoploss of 1000 and targets of 1120/1150 in short term.
Day-Traders: Buy Tata Tea only above 1075 for quick targets of 1100/1120 with a stopof 1050.

Have a nice trading day

Regards

Ankit