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#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

#6 Stock Update: Monthly picks


Stock
CMP
T1
T2
SL
Review
ACC
1027
1054
1136
980
Rectangular Breakout at 1015
AMBUJA CEMENT
138.75
143
153
132
Inverted Head and Shoulder Pattern..neckline at 140
AXISBANK
1282
1350
1450

1227
Moving average and MACD crossovers
BAJAJ-AUTO
1344
1377
1464
1288
Rectangular Breakout at 1338
HDFC BANK
2399
2550


2320
buy on dips
HINDALCO
190
205
224
183
buy on dips
ICICIBANK
1086
1155
1202
1053
Keep Strict stop loss
INFOSYS
2785
2980
3150
2730
Long term Investment
PNB
1099
1135
1189
1050
Accumulate on dips for long term
SBIN
2297
2585
2790
2165
Accumulate on dips for long term

TATASTEEL
589
630
650
560
Accumulate on dips for long term

#17 Nifty Update

NIFTY today was like KKR in IPL 4, came out with surprises from right to the bottom level to almost 100 points up but as KKR was not able to make up to the finals so did NIFTY couldn’t reach out 200 DEMA i.e., 5612. NIFTY broke out at 5517 level which indeed made our probable inverted head and shoulder a false sign. Now NIFTY is looking strong towards upside move. GDP data were out today but it didn’t affect the index to larger extent. India’s GDP grows at 8.5% in FY-2011, Q4 growth at 7.8%.Eye catchers in frontline today were JPA, HDFCBANK,ACC, DLF and SBIN with almost 3% up. SBIN still looks strong to buy for longer holding period i.e., around 6 months. Now a major resistance for NIFTY is 5612 and major support at 5442 level.  Now we could figure out another “inverted head and Shoulder” with neckline of 5609. We might see a bounce back upto the level of 5442 once from 5609
NIFTY levels for 1st June:
R-5600                  S-5517
R-5623                  S-5482
R-5650                  S-5442
R-5700                  S-5400

#16 Nifty Update

Today NIFTY showed up the emotions for the Friday released hangover 2 i.e., it was interesting but not to keep peoples attention all the way. It opened with some positive woes and as expected didn’t crossed 5517 and came back to almost a flat level. Now we might see some correction towards 5400 level which will be good level to go long on NIFTY with the target of 5700 in coming 2 months. Some of the frontline stocks are at gud price to go long such as SBIN, BHEL and TCS. Wait for some more dip in  TATA MOTORS to go long. Educomp has came out with good numbers showing a upside upto 530. Therefore we might see some down side tomorrow with the support of 5442 and 5400.
NIFTY levels for 31st May
R- 5500                  S-5442
R-5517                  S-5400
R-5541                  S-5367
R-5575                  S-5328

#5 Stock Update: Weekly picks

ABGSHIP
CMP
372.85
Recommendation
Buy
Support
365,356
Resist.
380,400
ANANTRAJ
CMP
69.90
Recommendation
Buy on dips
Support
65.60,62.90
Resist.
75.90,81
ALBK
CMP
197.20
Recommendation
Buy on dips
Support
192,183
Resist.
205,214
EDUCOMP
CMP
471.65
Recommendation
Buy
Support
463,445
Resist.
506,530
CROMPGREAV
CMP
257.80
Recommendation
Buy on dips
Support
252,245
Resist.
270,285
FORTIS
CMP 
160.90
Recommendation
Buy on Dips

Support
158,153
Resist.
165,175
GNFC
CMP
100.85
Recommendation
Buy
Support
99.70,95.80
Resist.
105,109

#15 Nifty Update

M back!!!! Had a long break and was out of touch for NIFTY but now I have been back on track….IPL results have been disappointing me but the Corporate results for last quarters are just outstanding and most are beating up street expectations. TATA Group and ADAG Group of companies has been most out performed in the Stock market which has shown some futuristic bull run for the NIFTY index. We could witness a small “Inverted head Shoulder Pattern” in NIFTY as indicated in the graph. If it got to validate the formation then we could see NIFTY resistance at 5517 and then bounce back to around 5400 from where we could buy it for long term. Long Term traders can start buying NIFTY on dips from very levels.
NIFTY levels for 30th May:
R-5500                  S-5445
R-5517                  S-5400
R-5541                  S-5367
R-5613                  S-5328

#14 Nifty Update

NIFTY today was too volatile on the downside. It closed at 5749 at our first support and made low at 5700 which was my second support. NIFTY is forming a pennant pattern, breakout of which will bring the uptrend. Breakout of formation is expected at 5900 which will decide the bull run. It made a high at 5805 which was also a resistance point. Daily RSI and Stochastic are below 50 indicating a bear run for the index. IF on the down side 5730 level is broken on closing basis then we might see down trend but current formation suggests the uptrend. Today Reliance was the stock which brought up the market from the day’s low. Yet the strategy will be buy NIFTY on dips with the stop loss of 5700.

NIFTY levels for 2cd May:

S-5731                   R-5788
S-5700                   R-5822
S-5674                   R-5900

S-5634                   R-5937

#13 Nifty Update

NIFTY closed in red as expected due to the Expiry pressure. NIFTY closed at 5785 near my second support of 5790. NIFTY daily RSI has crossed 50 from upside signaling a bear strength while stochastic and MACD is also signaling a bear strength. Prices closed below 5/10 DEMA and exactly at 20 DEMA average. Two consecutive bullish wide candles are strengthening down trend. Even monthly and weekly Indicators have started showing weakness for the Index. NIFTY daily chart is forming a upper wedge formation. NIFTY on overall has started looking weak.
NIFTY levels for 29th April:
S-5750   R-5819
S-5700   R-5856
S-5689   R-5907
S- 5633  R-5937

#4 Stock Update: BANKBARODA

Buy BankBaroda at current levels..It is out with good results and a dragonfly doji is detected on the graph with Positive indications frm daily and monthly charts…T-1045 SL-980