Expect levels of 5550- 5600 if last week's low of 5700 is broken.. On upside Nifty has huge resistance around 5930-5950 levels

 
Stock View: Infosys Technologies

Infosys Technologies has remained rangebound since it announced its not-so-stellar results in October 2010. The stock has been consolidating between 2960-3110 levels. The stock can give a move of 100-150 points if it breaks either side of the range. Buy Infosys Technologies only if it sustains above 3110-3125 with stoploss of 2975 and targets 3230/3270 in short term..

Have a nice trading day

Regards

Ankit

Nifty gives a strong bounce back from our second buy level around 5750-5800.. For more about this check previous days' charts

 
Stock View: Orchid Chemicals


Buy Orchid Chemicals at 318-320 and on further dips to 303-306 with stoploss of 290 on closing basis and targets 350/380 in short to medium term...

Have a nice trading day

Regards

Ankit

As expected Nifty made a low of 5917 and closed at around 6000. It bounces back from our range of 5920-5940

 
Stock View:  Jet Airways

Jet Airways has outperformed the benchmark indices for past few days, this strength has come in after few days of a big breakout from ascending triangle. The stock has been consolidating between 850-920, but it seems breakout will occur from this consolidation very soon and it may head to 1000 odd levels. Buy Jet Airways only if it sustains above 918-920 with stoploss of 900 and targets 975/1000 in short term.

Have a nice day

Regards

Ankit

Nifty detailed View updated

Nifty View:

As you see this chart, I have drawn 4 momentum lines which have been deciding factor in past 12-18 months. In the past whenever Nifty has broken these momentum lines it has corrected anywhere between 10-12 %, as you see currently we are trading above the 4 th momentum line which is around 5750-5800 mark. Nifty has corrected almost 5% from the top since last few days, this sharp fall may halt around 5920-5940 as it has multiple supports/bottoms ( see shaded region on chart) around this region, break and close below this 5920-5940 support may lead to Test NO. 3 of our 4 th momentum line which is around 5750-5800. Fibonnaci retracements also point out that 5750 -5800 will act as a good support. It is advisable for investors ( especially those who missed entire rally from 5350 to 6350) sitting on cash to deploy atleast 20% cash @ 5920-5940 and 30% cash @ 5750-5800.

Nifty Detailed View

Have a nice day

Regards

Ankit

Rangebound NIfty futures between 6260- 6345, A move above 6345 can give anoher 50 odd points.

 
Stock View: Ruchi Soya

Perfect flag pattern and good consolidation between 140 and 125 odd levels, now a sustained move above 138-140 would give a confirmation of a breakout. Buy Ruchi Soya only if it sustains above 139-140 with stoploss of 135 on closing basis and targets 153/155 in near term and may do 180 odd levels is long term...

Have a nice trading day

Regards

Ankit

Increase cash in range of 6350-6500, Apply for Power Grid FPO to get good 1st day gains.

Stock View: OCL

The stock broke almost a year long triangle pattern and closed above multiple tops near 144-145. In Short term stock looks good if it still sustains above 145. Buy OCL half qty @ current levels of 145-146 and keep cash to add on dips to 138-140 with stoploss of 135 on closing basis and targets 155/165 in short term..

Have a nice trading day

Regards

Ankit

Stock Specific moves are likely to continue, NIfty Spot has major support around 6180-6200.

Stock View: Hindunilvr

The stock after consolidating between 290 and 310 is ready to move out from this range, a sustained move above 310-312 would be a confirmation of the same. Buy Hindunilvr above 310-312 with stoploss of 303 on closing basis and targets 325/330 in short term.

Have a nice trading day

Regards

Ankit

Keep booking profits in range of 6350-6500 and increase cash to deploy at lower levels..

  
Stock View: Ranbaxy

The stock has been consolidating between 575-615 for a long time now, it needs to sustain above 618-620 to give a clear breakout. The only problem for the stock is the lack of good vols. Buy Ranbaxy only of it sustains above 618-620 with stoploss of 605 and targets 650/670 in short term..

Have a nice trading day

Regards

Ankit