Monthly Archives: June 2011

#21 Nifty Update

NIFTY back on track. NIFTY opened in red on global cues but recovered at the end. It bounced back from crucial level of 5475. Now we could see uptrend for short term till 5619. If it crosses 5619 level then it will validate inverted head and shoulder and we could see level of 5700 there on. LT and Infosys are best buy at these levels. Baba Ramdev is the focus in the media these days.  Govt. is in dilemma what action to take because it may affect its image.  So still strategy is to buy NIFTY with SL-5442.
NIFTY levels for 7th June:-
R-5571  S-5475
R-5609  S-5442
R-5650  S-5400
R-5700  S-5378

#8 Stock Update: Weekly picks (6th-10th June)

Stocks
Remarks
BIOCON
A dragon fly Doji on weekly chart was confirmed by a strong bull candle last week. Stock Price crossed 100 and 200 DEMA last week and closed a way above it. RSI crossed 50 level mark suggesting a strong buy. Whereas stochastic is suggesting to Buy stock on dips.
CMP
363.50
Buy on dips
Stop Loss
350,335
Targets
377,392
ANANTRAJ
A Bullish Engulfing pattern on preceding week chart was confirmed by a bullish candle last week. Daily chart have witnessed price closing above short term moving averages. MACD has shown a some bullishness and suggesting to  buy on dips.
CMP
70.95

Buy on dips
Stop Loss
69.50,65.90
Targets
77.70,81.20
APTECH
A bullish Hammer on the weekly chart was confirmed by a bull candle last week. Price on daily chart closed above all the short term moving averages. MACD together with RSI at 50 is suggesting a buy for the stock for short term as well as long term holdings
CMP
98.45
Buy
Stop loss
97.50,94.50
Targets
102,107.50
INGVYSYABK
Bullish Tweezers bottom was confirmed buy a bull candle on the weekly chart. On Daily chart price crossed and closed above all the moving averages including 100 and 200 DEMA last week. MACD crossed 0 line signaling buy with RSI still at 63 suggesting a strong Buy.
CMP

347
Buy
Stop loss
340,330
Targets
356,373
ADVANTA
Bullish Tweezers bottom in the bearish trend on weekly chart is suggesting a reversal in trend for the stock. On a daily chart a small dragon fly doji was witnessed to support the bull run. Price closed above all the short term moving averages while RSI was at 51 suggesting a bull phase.
CMP
239.30
Buy
Stop Loss
228,216
Targets
257,269
BOMBAY DYEING
A bullish hammer in down trend was confirmed by bullish tweezers bott
om pattern on weekly chart for the bullish trend of the stock. On daily chart price closed above all the short term moving averages while MACD is about to cross 0 line to suggest a strong buy. RSI is strong at 54.
CMP 
363.80
Buy on Dips
Stop loss
352,338
Targets
377,393
AMBUJACEM
A bullish piercing pattern on weekly chart was confirmed by a long bull candle for the reversal. On a daily chart Inverted head and shoulder was confirmed by price closing above the neckline being at 140 level for 3 days. MACD is about to cross 0 line while RSI is at 55 suggesting a buy.
CMP
 143
Buy
Stop loss
140,136
Targets
148,153

#20 Nifty Update

AS expected NIFTY opened positive and resisted near 5600 level which was also mentioned in my last report. SGX Nifty was almost flat at the opening. NIFTY was in red which was some profit booking. Now it seems that market may test the levels of 5442 to confirm our inverted head and shoulder pattern. ADAG was rocking as Anil Ambani was out of the 2G Scam. All its scripts were up by around 5%. Today we also had an AGM of Reliance Industries, but nothing exceptional was mentioned by Mukesh Ambani. Investors were expecting news regarding the telecom sector company which they acquired last year. On Monday we might see some upward movement initially but on downside we may see levels of 5442 if it isn’t closed above 5613.
Nifty levels for 6th June
R-5567                  S-5507
R-5600                  S-5492
R-5617                  S-5442
R-5629                  S-5400

#19 Nifty Update

NIFTY today opened almost 72 points down to 5521 as expected. People who got PUTS yesterday might have been partying tonight special those who got Put of SUNTV which was almost down by 30%. On the global market’s weakness NIFTY was showing some downtrend. SUNTV owners brother was mentioned in 2G scam which dragged down the stock almost 30% but later on after the market it was discovered that he isn’t involved and him together with Anil Ambani and TATA got a clean chit from CBI. Market is expected to have resistance at 200 DEMA 5615. Still strategy is buying on dips for long term.
NIFTY levels for 3rd June:-
R-5572                  S-5521
R-5612                  S-5492
R-5650                  S-5442
R-5700                  S-5400

#18 Nifty Update

NIFTY opened with positive mark and remained in green today with the close at 5592. Today it was not able to break the neckline for inverted head shoulder and also the 200 DEMA at 5610. We expect some profit booking tomorrow. Good news for Gujarat as Maruti is planning its 7th Factory in Sanand. Gujarat government has also invited companies like Ferrari Spa, Hyundai and Ford India. If Narendra Modi’s dream is successful in getting all the companies in Gujarat then we can be the automobile hub of India. NIFTY tomorrow is with some mixed bias but for the long term investors BUY NIFTY on dips with the SL of 5442.
NIFTY levels for 2cd June:
R-5613                  S-5564
R-5640                  S-5517
R-5698                  S-5491
R-5722                  S-5442