Keep a stoploss of 5490 ( spot ) for those who didnt cover their shorts on Friday or those who are willing to take fresh short positions.

Stock View: Venus Remedies

There is a beautiful cup and handle structure that is being witnessed in this chart which took 21 months to complete. This constitutes of a Larger cup and a Larger Handle( constituting 3 small handles ). The stock is facing stiff resistance near 305-310 zone which needs to be broken to confirm a big breakout. Buy Venus Remedies only if it sustains and closes above 305-310 with a stoploss of 280 on closing basis and look for targets of 350/377/395/450 in short to medium term.

The chart was analysed in 1 st week of July --->>> The view remains the same as of now...

Check Link : http://optionstech.blogspot.com/2010/07/finally-markets-did-something-now.html.
  
  
  

Have a wonderful trading day

Regards

Ankit

5440/5450 remains a good support for NIfty. If this support zone is broken then expect levels of 5400/5380/5350. Keep stoploss to all your trading positions.

  

Stock View: Reliance Infra


This is a 18-month chart of RelInfra and on the face of it stock is looking weak, but there are many points to discuss about:
1) Important Trendline: This trendline is a major trend decider for the stock. Above this trendline the stock is a buy on dips and it is transformed into sell on rise below this trendline. Right now its trading below Important trendline ( Bearish Signal 1 )
2) The stock is trading below its all short term as well as long term moving averages. This convergence (almost)---> 1080-1100 will act as a resistance for the stock. ( Bearish Signal 2)
3) The stock has multiple bottoms around 945-950 zone and ideally stock should atleast give a bounce back from these levels. But if stock breaks/closes below 945-950 zone on sustained/weekly closing basis then expect levels of 840, if broken then,730/640 ( long term support). If it breaks 945-950 then it wud be Bearish Signal 3.
4) RSI (oversold -below 30) is placed at good trendline support and may bounce back from multiple bottom support zone of 950. but if 950 is broken you can expect a sharp fall in RSI as it did in Nov 2009.
945-950 level is a good short term support zone for the stock, the stock can be bought near 970-980 with a strict stoploss of 950 on a sustained/ weekly closing basis and you may get to see levels of 1050/1100 levels. And if it does break 950 then the stock should be bought by investors in a staggered manner only at major support levels of 840/730/640.

Have a nice trading day

Regards

Ankit

Keep stoploss below 5440 for all your trading positions. Volatility levels would continue to remain high from now onwards.

 
Stock View: TCS

Consolidation phase going on for Tcs, needs vols to make the next upward move. Buy Tcs only if it sustains above 884-886 with stoploss of 870 on closing basis and look for targets 915/930 in extreme short term..

Nifty spot has good support around 5460/5440. Keep a stop of 5555 on your Short positions.

 
Stock View: Sterlite

Sterlite after breaking a triangle pattern on the downside few days ago is now nearing very important support zone of around 150 ( see shaded portions ). It has been a one side move from 180 to 150 ( with some consolidation in between) in last few days. The stock is looking weak but some bounce can be expected from 150 odd levels. Short Sterlite only if it sustains below 148-150 with stoploss of 157 on closing basis and look for targets of 135/124 in short term.

Have a nice trading day

Regards

Ankit

5560 - 5600 now becomes the next ressistance zone as slowly range is shifting upwards. A blow out rally or a sharp correction should be coming your way in next few days.

 
Stock View: Jindal South West Holdings

The stock has broken out from 8 month long triangle pattern with huge vols and is looking gr8 on charts. In this up move it should face some resistance around 1970 levels. Buy JindalSWHL at current levels around 1855-1865 with stoploss of 1800 on closing basis and look for targets of 1970/2100 in short term.

 


Stock View: West Coast Paper

The stock has broken out with huge vols from an upward flag pattern and is looking good on charts. The closing above 100 ( last 3 tops ) for the stock is also a good sign. Buy westcoast paper at current levels of 102 with stoploss of 97 on closing basis and look for targets of 115/120 in short term.

 
Have a nice trading day

Regards

Ankit

Range is moving upwards so is the stoploss for short position. Dont do leverage buying at these levels till it gives a breakout.

  
Stock View: Marg

This is a 2 year daily chart of Marg Limited and if you see clearly there is a triangle pattern visible on charts. On Thursday stock gave a breakout with huge vols which is a good sign. Stock also give a breakout from the trendline which joins last 4 major resistance areas on charts ( shown as shaded oval portions ) which is an added plus point. Buy Marg at curret levels of 190-192 with stoploss of 180 on closing basis and look for targets of 220/235 in medium term.

Have a nice trading day

Regards

Ankit

Nifty spot has good support around 5475/5450. Volatility levels are going to increase, Intraday traders be cautious.

   
Stock View: Elgie Equip

Since August 2010, the stock has been consolidating between 125-135 odd range. Yesterday the stock did give a breakout from this range and that too with huge vols which is a good sign. Buy Elgiequip at current levels 135-136 with stoploss of 130 on closing basis and look for targets of 145/150 in 1-2 weeks.

  
Have a nice trading day

Regards

Ankit

Reliance new 52 week low, Nifty new 52 week high. Strange ?? Short Nifty near 5520-5525 with stoploss of 5555 on closing basis. Keep booking profits and dont be leveraged. This might be a trap.

 
Stock View: Ds Kulkarni

The Stock has been consolidating between 70-77 odd levels since last month and is expected to break this range soon. Buy Ds Kulkarni at current levels of 76 with stoploss of 72 on closing basis and look for targets 80/82. Real Momentum will come only if stock crosses/closes above 80-82 range then new buying can also be intiated for revised target of 90.

Have a nice trading  day

Regards

Ankit

Boring Markets, moving in a tight range. Stock picking has become difficult in past few days.

    
  
Stock View: Hind Motors

Hind Motors stock has been consolidating between 18-28 levels since slighlty more than 12 months. The stock gave a closing at the upper end of channel and that too with huge vols which is a very good sign. The stock will gain momentum once it sustains above 29. Buy HindMotors part qty at current levels of 27.5-28 and add on dips to 25.5-26 with stoploss of 24 on closing basis and look for targets of 33/35 in near term..

Stock View:  Larsen & Toubro

The stock is looking weak below 1775-1770 as you can see the neckline of Head and Shoulder Pattern is placed at 1775. Sell Larsen and Toubro below 1775-1770 with stoploss of 1800 on closing basis and look for targets 1710/1680 in short term.. Momentum only below 1750.

Have a nice trading day

Regards

Ankit

Attention Free Yahoo Messenger Service Users !!!

On this 64th Independence day that has just gone past by, as a responsible Citizen of this country a thought came to my mind, to help victims and families of  those killed in natural calamities. This help would be financial in nature by contributing my part of it to Prime Minister’s National Relief Fund (PMNRF). The Fund renders assistance to individuals facing distress situations. Its resources are utilised for the provision of immediate relief to the families of those killed in natural calamities like floods, cyclones and earthquakes. It also grants assistance to families affected by major disturbances, riots and accidents.Besides, the Fund extends assistance to indigent persons to partially defray the cost of expensive medical treatment like heart surgery, kidney transplantation and cancer treatment.

The recent cloudburst ( above pic ) in Leh that created havoc by claiming 179 lives and leaving several injured .

So I thought of giving my bit of help to the nation by contributing directly and urging all of you to contribute a nominal amount in lieu of my services on Yahoo Messenger.

" Good Things don't come for free ". Going by this motto, Yahoo Messenger support service will no longer be free from Next Week as I have planned to give recommendations on Yahoo Messenger for nominal charges.

1. You can contribute minimum 500/- per month and maximum any amount ( as Charity has no limits ).

2. Send me your contact details and specifying the amount you want to contribute on my e-mail address -    buddingentrepreneur1987@gmail.com and the last date to send me your details is Sun 22nd August 2010.

3. As soon as I get your details I will mail you my Bank A/c No.

4. No free recommendations would be provided from Mon 23rd August 2010

5. The scan copy of cheque issued to " PM Relief Fund " would be mailed to all interested people

6. The names of contributors would be posted on the blog too.

7. Any recommendations/comments regarding this can be mailed to my email id mentioned above.

8. The daily recommendations on the blog would be continued as a free service

Have a nice day

Regards

Ankit

5480/5495 are levels to watchout for on upside and support exits around 5410. Please trade cautiously at these levels.

Stock View: PVR

This is a daily chart of PVR Limited and as you see on the charts this stock has been consolidating between 150-165 odd range since last 2 months. The stock moved up on friday on slightly good vols and it seems the stock is poised for a breakout. There is also a good support in range of 148-150 now. Buy PVR part qty @ 160-161 and another part qty on dips @ 153-155 with stoploss of 148 on closing basis and look for targets of 170/185 in short term.

Have a nice trading day

Regards

Ankit

Happy Independence Day !!! Jai Hind

"Long years ago we made a tryst with destiny, and now the time comes when we will redeem our pledge, not wholly or in full measure, but very substantially. At the stroke of the midnight hour, when the world sleeps, India will awake to life and freedom. A moment comes, which comes but rarely in history, when we step out from the old to the new, when an age ends and when the soul of a nation, long suppressed, finds utterance.... We end today a period of ill fortune, and India discovers herself again."

- Pandit Jawaharlal Nehru
(Speech on Indian Independence Day, 1947)

Today being a weekly close, Bulls should ensure that it closes above 5350 so that momentum remains in the Index

Stock View: Asahi India

This is a daily chart of Asahi India and you can see that there are multiple tops ( 3 tops ) since Sept 2009 in the zone of 78-80. Plus the stock has managed to make higher lows since April 2010 so there is a trendline support zone of 70-72 also. The stock gave a nice breakout yesterday and that too with huge vols which is a good sign. Buy Asahi India 81-82 with stoploss of 77 on closing basis and look for targets 89/95 in short term.

Have a nice trading day

Regards

Ankit

Since how many days We are telling you to be cautious and go short in zone of 5470-5530 ??

Nifty View:

As you see in the chart, there is a rising wedge pattern formed which is likely to be broken today by a gap down opening. The first floor/minor support for this fall comes around  5320-5350 zone ( see shaded portion ) and the ground floor/major support ( 61.8 % retracement ) comes around 5200-5240. Those who are short can cover 50 % of their position at first floor and next 50 % at ground floor. Investors waiting on sidelines can deploy some of their cash at ground floor ( 5200-5240 ).

Have a nice trading day

Regards

Ankit

Again Nifty falls from cautious zone of 5470-5530. There is no conviction in buying at higher levels. Keep Stoploss to all your long trading positons.

Stock View: Hinduja Ventures

The stock again seems to be approaching the resistance zone of 400-405 zone as it did in Jan '10 and Sept '09. Yesterday it tried to give a breakout but could not sustain at higher levels though the vols were pretty good. Sustained move/closing above 400/405 will give us a clear breakout. Buy HInduja Ventures part qty (50%) at current levels of 395-400 and rest qty ( 50 % ) on dips to 375-380 with stoploss of 355 on closing and look for targets of 450/480 in short term..

Have a nice trading day

Regards

Ankit

5470-5530 is a cautious zone. For fresh Long Positions risk-reward may not be favourable at this point of time. Use stoplosses Exit if it gets triggered.

Stock View: Mukand Ltd

The stock has been consolidating between 55-72 zone since last seven months and as you can see on the charts 72-73 zone is acting as a good resistance zone for the stock. The stock has witnessed some accumulation in the last few days too as it happens before a breakout. Buy Mukand Ltd only and only if its sustains (preferably closes ) above 72.5-73 with stoploss of 68 on closing basis and look for targets of 82/85 in short term.

Have a nice trading day

Regards

Ankit

Short Nifty as a hedge position and Long Stocks (with trailing StopLoss) should be the ideal position one may take in the current market scenario.

Stock View: Batliboi

The Stock after giving a big breakout last month, it has been consolidating between 35-41 range for the last 3 weeks. The stock needs to give a breakout from this range to move ahead to previous highs made in Jan 2010. Buy Batliboi above 42-42.5 with stoploss of 40 on closing basis and look for targets of 46/48 in extreme short term.

Have a nice trading day

Regards

Ankit

Short Nifty in the zone of 5470-5500 with stoploss of 5555 on closing basis, Stock specific moves to continue.

 Stock View: ACC

A falling wedge pattern is being observed on the daily charts of ACC. The stock has been underperforming the benchmark Index since Mar 2010 but now it may give a bullish breakout from this pattern. Buy Acc only if it sustains above 850 with stoploss of 837 and look for targets of 868/880 in short term. Another wave of Strong momentum can be expected in this stock above 885/895 which can lead the stock to much higher levels of 930/950.

Stock View: Kotak Mahindra Bank

The stock has good trendline support around 760 and is consistently making higher lows since moneth of May which is a good sign but stock also has overhead resistance around 800-805 zone which needs to be cleared out to confirm a breakout. Buy Kotak Bank only if it sustains above 800-805 with stoploss of 785 on closing basis and look for targets 850/875 in short term.

Have a nice trading day

Regards

Ankit

5350-5450 remains a clear range as of now, Breaking either side will give a move of atleast 50-100 points. But for long positions risk reward is less here. So trade safe

Stock View: Reliance Inds

This is a 12 month daily chart of Reliance - this stock is of so much importance as it has power to drift the markets in any given way single handedly. Stock is precariously poised at long term (1 year ) support trend line which has given support to the stock in every major fall plus there are multilple supports around 970-990 zone. Buy Reliance Inds part qty at current levels 1005-1010 and other part in 975-985 zone with stoploss of 960 on closing basis and look for targets of 1090/1145 in medium term.

Stock View: Petronet

This is a weekly chart of Petronet and the stock is looking good as it has given a nice breakout from upward flag pattern and that too with huge vols. Buy Petronet at current levels of 90 with stoploss of 80 on closing basis and look for targets of 115/130 in medium term of around 3-6 months This stock is recommended for only those investors who have patience.

Have a nice trading day

Regards

Ankit