Today being a triple witching day, Be cautious and Expect the Unexpected.

Stock View: City Union Bank

A perfect flag pattern is visible on the charts of CUB, it has been long time since the stock is consolidating between 45-50 odd levels. Buy CUB only if it sustains above 48.5-49 with stoploss of 47 on closing basis and targets 54/57 in short term.

Have a nice trading day

Regards

Ankit

Paul - The Octopus which could have been a boon for stock markets is no more. May his soul rest in peace.

 
Stock View: Century Enka

The stock has been consolidating between 230-260 for almost 2 months now, break on either side can give a 10-20 % move. Buy Century Enka only if it sustains above 261-263 with stoploss of 254 on closing basis and targets 290/300 in short term. Watchout for vols when it breaks about above 260, if vols are low then it may be a fake out rather than a breakout.

Have a nice trading day

Regards

Ankit

Watchout for MLL, MTNL in coming days. Limit for Max Retail subscription to IPOs increased to 2 lakhs.

 
Stock View: Ajanta Pharma

The stock has been consolidating between 240 and 260 for weeks now, and is poised for a breakout if it sustains above 260. Buy Ajanta Pharma only if it sustains above 260-261 with stoploss of 255 on closing basis and targets 275/280 in short term.

Have a nice trading day

Regards

Ankit

5965-6125 seems to be the range as of now. Stock specific moves likely to continue.

 
Stock View: BASF

A nice flag pattern formation on the charts of this stock, a move will 703-705 will considered as a breakout. Its a low volume stock and gives good moves in a single day but watchout for the vols, it should be greater than normal days then only it would be confirmed as a breakout otherwise it would be a trap. Buy Basf only if it sustains above 703-705 with stoploss of 685 on closing basis and targets 745/760 in short term.

Have a nice trading day

Regards

Ankit

Nifty to remain rangebound. Coal India bumper subscription closed yesterday, Retail shows that they are also cash rich. :P

Stock View: Cipla

The one year long channel may come to an end for this stock, as the stock has been showing signs of a breakout. There has been huge volume -price action yesterday, considering all this the stock will zoom to 400 odd levels if it gives a sustained move above 353-355. Two ways of buying the stock are:
1) Buy Cipla half qty @ current levels of 345-347 and add on dips to 330-335 with stoploss of 326 on closing basis and targets 390/400 in short term.
2) Buy Cipla only if it sustains above 353-355 with stoploss of 342 on closing basis and targets 380/400 in short term.

Have a nice trading day

Regards

Ankit

5925/5950 NIfty spot levels will act as a major support.... Will retail portion of Coal India get oversubscribed ? I doubt so.

 
Stock View: Gmr Infra

The stock broke a major trendline support day before yesterday, this breakdown has come up with huge vols too. The stock is certainly looking weak and may head to 50-51 odd levels where there is a minor support, if breaks that then next major support zone is @ 45-47. So people who are willing to do bottom fishing should wait for 50-51 levels to come, High risk traders can go short also at current levels.

Have a nice trading day

Regards

Ankit

Missed by 35 points... We Predicted NIfty to bounce back from 5950 while it made a low of 5985.

 
Stock view: Kiri Dyes

This is a daily chart of Kiri Dyes, the stock after consolidating between 560 and 620 has given a good breakout with huge vols. The stock has not only given a breakout but also closed above the resistance zone of 618-620. Buy Kiri Dyes half qty @ 635-637 and add on dips to 618-620 with stoploss of 608 and targets 665/680 in short term.

Have a nice trading day

Regards

Ankit

People sitting on cash can invest slowly on dips to 5950/5650 in a staggered Manner. On upside Nifty Spot is likely to face resistance around 6110/6150.

 
Nifty View: 

The index for the first time ever may give a sell signal if it stays below 6050 on a sustained basis. Enormous rally from 5350 to almost 6300 in record time needed a much needed breather to scale up new highs. Nifty has broken a major trendline support and for the first time since 1st week of Sept tried to go below red line ( 18 ema ) --> see chart. If Nifty stays below 6050 on a sustained basis then i expect levels of 5950/5925 in coming days which should act as a major support for the index.

Have a Nice trading day

Regards

Ankit

Medium term trend down if Nifty closes below 5925-5950 zone.

Stock View: DPTL

This stock has been consolidating for a few time now between 10 point range. Yesterday it tried to breakout and close above previous resistance of 195 with good vols. Buy DPTL at curent levels of 195 with stoploss of 190 and targets 205/210 in short term.

Have a nice trading day

Regards

Ankit

Happy Birthday OptionsTech....... :)

 
365 days,215 posts ( almost every trading day ) and total 5686 visitors ( and still counting.... ). Its been full 1 year since I started blogging in later part of 2009. I thank all the regular/ one time visitors on the blog for taking out precious time from their busy schedule. In this 2nd year of blogging I pledge to analyse more and more to pick good quality stocks for you all which would generate high returns in future.

On this auspicious occasion, I would like to donate small amount of 4500/- to Prime Minister Relief Fund as a CSR ( Corporate Social Resposnsibility ) initiative. I would like to thank all the following contributors who participated in this intiative:

1) Soniya Khubchandani
2) Sunaya Kalungutkar
3) Vikas Arora
4) Deepak Mittal
5) Gokul
6) Jigar Joshi
7) Rajesh Kantharia
8) Raju Ranjan

Regards

Ankit

Nifty futures 6090/6105 are strong support levels to watch out fr. Be cautious and avoid leverage

Stocl View: Bombay Dyeing
 
This is a daily chart of Bomdyeing, and a clear triangle formation is visible on charts plus there is also a convergence of moving averages which is a good sign. Buy Bomdyeing only if it sustains above  670-675 with stoploss of 645 and targts 720/750/775 in  medium term. Watch out for huge vols before the breakout.

Have a nice trading day

Regards

Ankit

After Large Caps the next few days spotlight on Mid Caps / Small Caps.. Watchout for 10-15% move in many stocks..

 
Stock View: Tata Metaliks

This is a daily chart of Tata Metaliks and there are 3 reasons visible on charts which make it a Strong Buy:
1) Inverted Head and Shoulder pattern is clearly visible on charts.
2) Multiple tops on Falling Trendline/Neckline which if crossed on closing basis then it would be considered as a breakout
3) Hot Convergence of 4 Moving Averages
The only concern in this stock are vols to support above three arguments, the wait continues....
Buy Tata Metali only if it sustains / preferably closes above 155-156 with stoploss of 145 ( agressive traders ) or 140 ( conservative traders ) with targets 175/185/200 in short to medium term.

Have a nice trading day

Regards

Ankit

Garden Silk Mills & BHEL given last week, both gave a good move. Now watch out for AnantRaj & Geojit Bnpp

 
Stock View: GeoJitBnpp
  
GeoJitBnpp is looking interesting on daily charts, if you see on the charts there are many intraday highs around 37.5-38 zone which may act as a resistance zone. Plus falling and flat trendline are also placed at 37.5-38 zone and need to be crossed for the stock to move higher from current levels. Buy GeojitBnpp only if it sustains above 37.75-38 with stoploss of 35.5 on closing basis for medium term targets of 42.5/45. Vols are also giving an encouraging sign.

Have a nice trading day

Regards

Ankit

New month may not be as hunky dory as the previous one. Trade Safe and with no leverage..

 
Stock View: Dynamatic Tech

The stock after giving a breakout from channel became overbought and was consolidating between a 50 pointer range. Yesterday's move with vols shows that stock has once again given a breakout and is expected to move higher. Buy Dynamatic Technologies part qty at current price of 1295-1305 and add on dips to 1270-1275 with stoploss of 1250 on closing basis and look for targets 1400 /1550 in short term.

Have a nice trading day

Regards

Ankit