Indian Financial Markets: Nifty

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Monday, August 13, 2012

Nifty has strong support at 5240-5250: Aditya Birla Money

Mon, Aug 13, 2012 at 09:26

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Nifty has strong support at 5240-5250: Aditya Birla MoneyThe Indian market has been rangebound over the last couple of sessions. In an interview to CNBC-TV18, Hemant Thukral of Aditya Birla Money says, 5,240-5,250 are strong support base for the Nifty. Share . Email . Print . A+A- Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money

Book profits around 5,380-5,400.Hemant Thukral

National Head-Derivative Desk Aditya Birla Money

The Indian market has been rangebound over the last couple of sessions. In an interview to CNBC-TV18, Hemant Thukral of Aditya Birla Money says, 5,240-5,250 are strong support base for the Nifty. "On the higher side, real challenge will start from 5,380, till 5,450," he adds.

According to him, traders should utilise opportunities towards 5,280-5,300 to get into the market and book profits around 5,380-5,400.

Also read: Expect Nifty to be rangebound this week, says Udayan

Below is the edited transcript of his interview with Udayan Mukherjee and Sonia Shenoy.

Q: What is the range that you are foreseeing for the Nifty now?

A: If we plot the Put and the Call writers, the way the positions are being placed currently, it is signaling that last week, week-on-week, 5,300 Put was the highest where addition was seen; 41 lakh shares were added up. So, if you adjust the premium, 5,240-5,250 form a strong support base for the Nifty.

On the higher side, real challenge will start from 5,380, till 5,450. So, now, after moving sharply, you have got a range where the Nifty can consolidate for some more time. So, traders should utilise opportunities towards 5,280-5,300 to get into the market and book profits around 5,380-5,400. I think this range may continue for atleast three-four more trading sessions.

Q: How are you approaching PSU banks like State Bank of India (SBI) or Bank of Baroda (BoB)?

A: If you check the bank index chart and the PSU bank index chart, it is giving a huge divergence. I think this divergence will continue. Aggressive short positions continue in these stocks, whether it’s SBI, Punjab National Bank.

If you check out Bank of Baroda, on Friday, it has seen very aggressive short positions. It was trying to form a very strong base around Rs 635-640 mark. Now, it has broken below that. So, I have a feeling that it will retest its three months low of Rs 615. I will be worried, if it goes below Rs 615. So, I would recommend going short, keep a stop loss of Rs 635 from where it has given a breakdown now. The first target should be Rs 615 and then they can trail the target further.

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

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Friday, August 10, 2012

Nifty may see 5400 post consolidation: Edelweiss Sec

Thu, Aug 09, 2012 at 09:59

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Nifty may see 5400 post consolidation: Edelweiss SecThe Indian market has been strong over the last few sessions. In an interview to CNBC-TV18, Atul Badkar of Edelweiss Securities says, it doesn't look like the Nifty is in a hurry to stop. "I think there is some consolidation. We may probably taper back towards 5,300. It looks like we will go towards the 5,400 sooner or later," he adds. . Share . Email . Print . A+A-

It is very evident that the current rally is liquidity driven.Atul Badkar

Analyst Edelweiss Securities

The Indian market has been strong over the last few sessions. In an interview to CNBC-TV18, Atul Badkar of Edelweiss Securities says, it doesn't look like the Nifty is in a hurry to stop. "I think there is some consolidation. We may probably taper back towards 5,300. It looks like we will go towards the 5,400 sooner or later," he adds.

Also read: Bullish on Bharti Airtel; avoid I'Bulls group, says PN Vijay

Below is the edited transcript of his interview with Udayan Mukherjee and Sonia Shenoy.

Q: Would you take your profits off the table now, get a little cautious, after the movements that you have seen so far?

A: Judging by the last nine days, where we have seen the index move up close to 6% from the expiry of the last month, it doesn’t look like we are in a hurry to stop. I think there is some consolidation. We may probably taper back towards 5,300. It looks like we will go towards the 5,400 sooner or later.

It is very evident that this is liquidity driven. If you look at the open interest across sectors, since expiry day, there has been short covering with price rises. So, at this point in time, I do not know whether you want to jump in to catch the next leg, but you definitely do not want to take any shorts around here.

If you have any long positions, you might as well ride the rally and stay long. But if you want to get into the market, right now, you need to be very selective. Within every sector, you need to choose your stocks very selectively over the next few trading sessions.

Q: You are bullish on Tata Motors for the near-term, right?

A: Based on charts, it has already moved up substantially. I think the stock is up about close to 17% from the last settlement day. The open interest has come off by about 25%. So, this is short covering.

It has given a good pattern on charts. From here, if it breaks out, it can move close to 10% quite easily. What remains to be seen in whether this liquidity flow continues? Within the entire auto space, from a short-term trading perceptive, with a slightly stronger heart, Tata Motors looks well for the next move of about 10%.

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

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Thursday, August 9, 2012

Nifty may see a fresh breakout above 5370: Anil Manghnani

Wed, Aug 08, 2012 at 09:37

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Nifty may see a fresh breakout above 5370: Anil ManghnaniAnil Manghnani, Modern Shares & Stock Brokers says, the Nifty has crossed the first important level at 5,300. "Now, a very important trend line is coming up at 5,370. If that gets taken out then it will be a fresh breakout," he adds. . Share . Email . Print . A+A- Anil Manghnani, Analyst, Modern Shares & Stock Brokers

Anil Manghnani, Analyst, Modern Shares & Stock Brokers

The Nifty has been on a strong wicket over the last couple of days. In an interview to CNBC-TV18, Anil Manghnani, Modern Shares & Stock Brokers says, the Nifty has crossed the first important level at 5,300. "Now, a very important trend line is coming up at 5,370. If that gets taken out then it will be a fresh breakout," he adds.

Also read: Nifty may go to 5600, if global momentum continues, says Udayan

Below is the edited transcript of his interview with Udayan Mukherjee and Sonia Shenoy.

Q: What is your view on the Nifty?

A: It has crossed the first important level at 5,300. We had a gap down couple of weeks back. That has been filled up. Now, a very important trend line is coming up at 5,370. If you connect the 6,300 top to the 5,630 top of January-February, it comes exactly at 5,370. So, if that gets taken out then it will be a sort of fresh breakout because that will be like a two-year trendline being taken out. So, it will be very significant, if we can close above 5,370 because that means a fresh breakout.

The one disappointment is lack of momentum. When I mean momentum, I mean participation across the board. If you compare 5,348 about a month back and if you look at midcap and smallcap stocks, they have still not completely recovered from the damage that happened on the last three days of July expiry where a lot of these midcaps fell 20-25% at a time. So, the midcap index is also reflecting the same, it’s about 3-4% lower than what it was last month at 5,348. So, maybe momentum and participation is not there. But if it closes above 5,370 you, will have to consider it as a fresh breakout on the Nifty.

Q: A very interesting stock that you have picked from the broader market is PVR, could you tell us about that?

A: It is an odd one. But I am hoping that if the market does close above 5,370 then even midcaps and momentum should start to pick up again. Although it is an illiquid stock, four-five days back it made a major move with huge breakouts in volumes. It has gone a little sideways. But whoever bought that four-five days ago will come back. So, Rs 169-170 could be a stop and a move back to Rs 195-203 is possible.

Q: What is your gut feeling is the Nifty going to cross over into a fresh breakout or do you think it might falter at this crucial juncture?

A: I hope it does, but the one thing that worries me is momentum. The pace at which it has bounced back form 5,050 levels has caught a lot of people on the back foot. When we were closing expiry in July, there was massive selling and it was a lowest point we had been in July. So, a lot of longs were unwinding, there were no shorts in the system. So, a lot of pain was seen on the last three days that it became difficult jus to come back and buy right again on a breakout the next day.

So, many people may have missed out on the rally. That is why the momentum is not picking up. I wouldn’t mind buying above 5,370, but I think I will keep an eye for a false breakout because of the lack of momentum. So, I wouldn’t ignore the 5,370, if it were to breakout. But I will be a little sceptical because of momentum.

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

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Wednesday, August 8, 2012

Liquidity may push Nifty higher to 5450-5500 says Baliga

In case we see those levels of 5450-5500 which I don't really rule out because of the liquidity, I'll be in cash to the extent of about 25-30%Ambareesh Baliga

Market Analyst

The market has kept the momentum going. It's been a solid run on Dalal Street today. What started out as a flat day, ended in strength. Large caps led the rally. The Nifty gained 54 points to fall just short of the 5,350 level. The S ensex too shut shop with a 188 point gain.

Experts feel that the market has shown strength and is likely to continue the run for sometime. Newly-appointed P Chidambaram’s assurance of getting Indian economy back on track and solving tax disputes seem to have worked well with investors.

"It has moved beyond based on the intent of what's been announced by Chidambaram and in case again you don't have the policy action following this, we are back to square one," warns Ambareesh Baliga, market analyst.

As an investment strategy, he suggests booking out to a certain extent. "In case we see those levels of 5450-5500 which I don't really rule out because of the liquidity, I'll be in cash to the extent of about 25-30%," he advises.

Below is the edited Transcript

Q: You were talking about this 5350 level on the index in the morning. We have come to that point. What does the next hurdle look like for the market?

Sukhani: Last week I said there is no direction so, buy puts and calls. Anyone who bought puts and calls is making money, in spite of the loss on puts. Yesterday morning before the market opened I said just buy, that was at 5250. So, the Nifty was almost 100 points up before the buy suggestion was given.

Sometimes the trend is very clear. At this point we are in a complete momentum market, fundamentals don't matter much in this type of market. The first resting point for the Nifty is 5350. However I don't think this is going to act as resistance. It means that we maybe seeing a market that surprises all of us on the upside. Every dip is a buying opportunity. So, we buy every breakout and not make the mistake of going short. We will see these 50-70 point intraday dips coming and that should be bought into.

Q: Would you buy any of the aviation stocks at these levels?

Baliga: I would not buy at these levels. The best quarter is the one which has passed by. The passenger load factor is elastic to the fares, which are already quite high and I don't think these companies can really cut costs any further. Going forward, margins would still be under pressure and what we are seeing now could be the high for the aviation sector. The only trigger could be FDI in aviation which might come in the next couple of months and could take the stocks up a bit further, but till then I think this is the top.

View the original article here

Tuesday, August 7, 2012

Sudarshan Sukhani bullish on Nifty, says time to go long

We saw Reliance move up yesterday and this is going to happen to a number of defense stocks.Sudarshan Sukhani

s2analytics.com

Technical analyst Sudarshan Sukhani of s2analytics.com is upbeat and bullish on indices since the Nifty has decisively broken a long trading range.

He suggests that this is not the time to short and one should go long. "Also look for intraday trades on long side," he added.

Below is the edited transcript of Sukhani’s interview with CNBC-TV18.

Q: What is your sense on index this morning?

A: My sense on the index remains upbeat and bullish. We had a decisive breakout from a long trading range and that is always to be respected. So the trade is to remain long, not necessarily getting out in a hurry. Also look for intraday trades on long side. This is not a time to go short.

Any day the market can go up and catch the short sellers by their neck, so the trade is almost very clear. We saw Reliance move up yesterday and this is going to happen to a number of defense stocks.

We cannot name them now because we do not know which one will pickup or be picked up and pushed on the upside. But, that is going to happen.

Q: What kind of targets do you see on Biocon ?

A: Biocon’s immediate intraday short-term target is Rs 260. Biocon, after a significant rally from Rs 200 reached Rs 260 and then consolidated. That consolidation should be resolved on the upside. Yesterday it saw big gains and that suggests that this is a consolidation and not a distribution.

In any case most stocks in this market are following the Nifty and if that is so then it’s not the immediate target. Once it crosses Rs 260-265 threshold then Biocon has the potential to add significant momentum on the upside. So, day trader should look for further gains today or build a position and maintain it.

Q: You would look for further gains in DLF after the 2% up move yesterday?

A: Yes, although I heard you say that DLF has been downgraded to Rs 165, at least in the short-term the charts are mimicking the Nifty. The Nifty has made a bullish pattern and broken out and DLF did the same.

So, I would be upbeat on DLF. I would look at Rs 225 and say it could go even higher. Once momentum builds in the market a lot of things are just brushed aside.

Q: What about Coal India ? Is that a weak looking chart to you?

A: Coal India should have been a good chart. It has made a distribution and it is not going up. Yesterday it should have gone up but it did not. It has already broken down from distribution. I have already explained that this is not a good time to go short.

So, the message here is that you short Coal India only if you want to create a hedge of some kind to your long positions or simply avoid it till it reaches Rs 320-325 where it would become an excellent buy again.

Q: You have a buy on Axis Bank for the day?

A: ICICI Bank and Axis Bank have been favourites. Now, I am adding HDFC Bank to that list. Axis Bank is on the verge of a breakout on the upside. The Bank Nifty has not done that. Bank Nifty was usually leading and we heard Udayan say that it’s not done it this time. But that doesn’t mean it cannot do it.

Axis Bank above Rs 1,060 then moves into un-chartered territory for this uptrend. I would be upbeat today. I am assuming that the banks will catch-up and also lead at least for the short-term period in the next few days.

Q: You think L&T is headed above Rs 1,400?

A: I think so. It made a narrow range yesterday. It did not participated in as much of the Nifty rally as it could have but that should change. In any case if the Nifty suggesting signs of bullishness then a lot of the heavyweights will eventually do their breakouts, do their momentum driven upswings.

L&T is well suited for that. Now at this point L&T is a better buy for short-term traders than BHEL.

Q: You have a sell on HPCL ?

A: The oil marketing companies do their own thing. I sometimes have confusion about what is going on and whether they have any relationship with the broad market and it doesn’t appear that they have. This is a short sell even today which means its one of the rare short sells in a rising market.

The charts of HCPL, BPCL and IOC have broken down from their tops. There is an intermediate decline that they are going into and we should be able to sell it.

Q: How would you trade Wockhardt today?

A: One can still trade it and go long in it but not necessarily today but whenever one see some kind of a consolidation. These stocks are telling that they are not stopping at this level. They are likely to go much higher. So, the trade is on the long side but avoid it for the day.

Q: You track Bombay Dyeing closely?

A: Bombay Dyeing has completed its correction. That correction has led to big gains yesterday. Once a pattern is seen of higher highs-higher lows which is what Bombay Dyeing has done then one can assume that it’s in a bull market of its own.

So, the trade here is to buy - rather than go for day trade in Bombay Dyeing. People who want to take positions for few weeks would be much better rewarded.

Q: What about Balrampur Chini from the sugar space?

A: The trade is still to go up. We have been upbeat on sugar since last week and that’s paying off. Even now on any dip, consolidations buy Balrampur Chini and Shree Renuka Sugar .

Q: What kind of targets would you have on Reliance Industries ?

A: Reliance target is about Rs 850. That is quite good because that means there is much more headroom still left here.

Q: You expect more traction in Sun TV ?

A: It does appear so, although it’s not a favourite. So, given the choice I would not buy Sun TV. But on the charts it shows that there is probably more traction.

Q: Would you buy Reliance Capital ?

A: I would. Reliance Capital seems to have made its bear market low around Rs 270-280 levels. Now this stock is likely to move up. It is going to be choppy, the first initial leg is always difficult but I would be a buyer in Reliance Capital.

Q: As a strategy would you advice naked long position in the market now or do you think some protection is prudent at this level?

A: Futures position is what you are refereeing to is good enough or deep in the money call, which is what I have is like a Futures position with some minor inbuilt protection, that is also as good.

I would advise people to go headlong in the long positions rather than try to hedge. This market would go 200-300 points higher. There is no sense in trying to hedge and reduce your gains.

Q: Where would you keep a stop loss on that long trade?

A: That is still 5,200. That is now an important level. If the Nifty were to slide below that I would say the charts are wrong or my interpretation is wrong.

View the original article here

Monday, August 6, 2012

Nifty to end above 5250, take long positions: Sukhani

The trade is that at 5,250 a close above that tells us that this market momentum has turned to up. A close below 5,200 would have told us the opposite. Sudarshan Sukhani

s2analytics.com

Technical analyst Sudarshan Sukhani of s2analytics.com expects Nifty to close above 5,250 today, so he suggests taking some long positions from the start of trade today.

Nifty's close above this level would be indicative of a bullish pattern and an upside trend, he added.

Below is the edited transcript of Sukhani’s interview with CNBC-TV18.

Q: What's the outlook on the Nifty this morning?

A: The outlook was a little muddied last week when we said that you buy calls and buy puts, the market could go anywhere. The important point was that it will go somewhere. If somebody has followed that advice and taken only intraday trades in the direction then today we should be owning some calls and some puts, which are likely to lose value.

But the trade is that at 5,250 a close above that tells us that this market momentum has turned to up. A close below 5,200 would have told us the opposite. That below close hasn’t happened. Chances are that we might well close above 5,250 today. If that happens then we should be long. The trend is then on the upside. It will also confirm a mildly bullish pattern.

So, we have to take this a day at a time. Since we have to go with the trend, the trend is expected to change to up today on a close above 5,250. Some long positions should be taken from the start of the day.

Q: Does chart of Divis Labs also look good?

A: The charts look fantastic. Divi’s Lab has been making new highs and then consistently doing it, not just going up and then eventually retracing. So, here is a chart and here is a stock that says ‘I am willing to go up and the market is willing to support that rally.’

There is a lot more buying here. Today, there will be a gap open of some kind. But then on intraday dips, on intraday rests it is a buying opportunity. It is not likely to stop where it opens.

Q: Which stock would you buy from the banking space?

A: I have been favouring ICICI Bank and in all fairness it has rallied the best in the large cap banks. That remains a favourite. On Friday it closed lower. The chances are that that was some kind of a correction that’s coming to an end. Today it should close higher, open higher.

At the open after the first cooling off period of 15-20 minutes or later in the day, the stock becomes a buying opportunity. The chances are that it will cross Rs 1,000 and go up. If the Nifty moves up, ICICI will outperform.

Q: What about Bata ? Do you think the pull back post result is over?

A: Bata made those new highs which it has been doing on Friday. That was when the markets were a little confused. Those new highs also confirmed a bullish pattern, some kind of a continuation of the uptrend and that gives a target of Rs 1,050 now. That’s fairly ambitious, that’s 15% up. But Bata has been doing the right things. Bata is now still on a roll and there is much more upside.

Q: You have a buy on Jain Irrigation this morning?

A: If this market is going up and it could well be, so we are just following the momentum. If it doesn’t go up we’ll have to suffer that setback. But if it is going up then midcap stocks are going to go with it and certainly probably outperform.

Jain Irrigation has completed its bear market. It made a double bottom, rallied, then it went through a very sever and sharp correction after the rally. That’s good news because we can buy it lower.

So, around Rs 75 where it stands now, Jain Irrigation has completed a correction and it is probably going to resume its uptrend. This could be a significant up move. So it is not just a day trade. If the trade goes in our favour, we should carry it on.

Q: You have a sell on Reliance Power ?

A: It is a miserable chart. It shows nothing. It keeps on rallying, the rallies are small, they are very intermittent. Even in terms of time the rallies are not sustained and keep on falling.

The reason why I still have sell is that assuming that the market will open up, there will be some opportunities of selling in that strength and Reliance Power is almost the perfect opportunity.

So, once the stock stalls, it is possible to take a short position even as the broad market goes up.

Q: You also have a sell on BPCL ?

A: That’s a very disappointing chart. It had a straight line decline, didn’t stop at all. And now after that decline it is on the verge of a major breakdown on the downside.

Whether that happens or not, the trade again is that if there is a gap up, if there is some strength in the stock, that strength should be used to go short in it.

Q: What would you do with Shree Renuka now?

A: Shree Renuka is a buy. It has been referred to as a buying opportunity earlier also and that holds. So, there are modest smaller short-term targets of Rs 35-36 and an eventual target of Rs 40. That applies to most sugar stocks.

Q: What is the chart of Glenmark telling you?

A: Glenmark is telling us that the bear market in the stock is over. It is now moving up. It has been moving up consistently and it is almost doubled itself. At current levels there is again a buying opportunity. There was a big move on Friday, it is probably a continuation. So, we should expect higher levels to come. Buy on any intraday dip.

Q: What about Dishman Pharma ?

A: Surprisingly Dishman Pharma is also in the same league as Glenmark. Apparently the bear markets in a lot of these midcap pharma companies is done with, it has been making higher highs, higher lows, made a very big gain on Friday. Those gains are going to be built upon.

It does appear that the Nifty is going to close above 5250 for all we know. If that happens, a lot of stocks will move up.

Q: How is the chart of REC ? That looked weak on Friday?

A: Yes it did but I would assume that this is a minor correction in an ongoing uptrend. REC has a very decent chart as does PFC . So Friday’s correction should be bought into. Here is a stock that’s actually corrected. I wouldn’t worry about that dip.

Both these stocks are likely to move up. REC has a very immediate target of Rs 205-210. But eventually I think it will go back to its Rs 250 levels.

Q: Would you buy Marico on dips?

A: No I would not. Marico has seen a very decent rally. At some point Marico becomes a buying opportunity. Fortunately we can't short sell it. I say fortunately because that would be an unwise act. We wait patiently.

Marico for somebody who is a short-term trader is a sell. It should slide further till it finds support somewhere around Rs 180.

Q: How would you approach the opening at 5260? Would you open up a fresh long here?

A: Yes, I would open up a fresh long looking at a target of 5400 and a stop loss at 5200.

Q: What do you think of Mahindra Satyam ?

A: The charts are saying it is going up. So, that’s fine. But I wouldn’t trade in it. There are so many other midcaps available which are more attractive in the IT sector.

View the original article here

FO cues: Nifty will test 5300-5320, says Hemant Thukral

Mon, Aug 06, 2012 at 09:59

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F&O cues: Nifty will test 5300-5320, says Hemant ThukralHemant Thukral of Aditya Birla Money is hopeful that Nifty will test the levels of 5,300 to 5,320 going ahead. He suggested that one should start booking profits once this level is reached.Share . Email . Print . A+A- Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money

I would not be trading shorts straight away. Whatever longs we have initiated from 5,100 or around 5,080 mark, if it reaches, then it will be a gap up opening around 5,260 cash level.Hemant Thukral

National Head-Derivative Desk Aditya Birla Money

Hemant Thukral of Aditya Birla Money is hopeful that Nifty will test the levels of 5,300 to 5,320 going ahead. He suggested that one should start booking profits once this level is reached.

However, for Nifty breach levels of 5,400 one should see open interest being built up in largecap stocks, he said in an interview to CNBC-TV18. "As per last one week’s data the maximum run-up in largecaps is seen because of short covering. There is no fresh open interest being build-up on the long side."

Below is the edited transcript Thukral’s interview with CNBC-TV18.

Q: Do you think the Nifty can get back to 5,350 levels, are you starting longs right now or would you be looking to take profits or even initiate shorts at higher levels? What is your trading orientation?

A: I would not be trading shorts straight away. Whatever longs we have initiated from 5,100 or around 5,080 mark, if it reaches today it will be a gap up opening around 5,260 cash level. Then we will raise the stop losses to 5,190.

Nifty ultimately will reach that target of 5,300 to 5,320, but beyond that I would want some serious open interest to be build-up on long side to get a justification that Nifty can move beyond 5,400. I would start booking my profits around 5,300-5,320 mark.

I am saying about open interest is because as per last one week’s data - the first week of August series, the maximum run-up in largecaps is seen because of short covering.

There is no fresh open interest being build-up on the long side especially in a largecaps, the long buying interest is seen more in the midcap front. For me, you can reach till 5,300 but beyond that one have to see the open interest coming back in these largecaps to stretch this rally beyond that level.

Q: You have a buy on IVRCL Infra today?

A: The midcap side of every sector has seen more build-up. On Friday IVRCL has seen fresh open interest being build-up and that has come with a higher cost. This tells that somebody has started buying or accumulating the stock from lower levels. IVRCL has managed to cross Rs 45.50-46 mark, which was proving to be a slight bit of resistance for it.

In immediate short-term, I do see this stock going up back to Rs 49-49.50 levels. But traders who are going long today should keep a very strict stop loss around Rs 44 mark because that has been a basic support for IVRCL Infra. If it breaks below that, then one should cut or come out of all long positions.

Q: Which stock will you pick from the frontline metal space?

A: All have seen huge short build-ups. If one is looking for a short covering rally on upside in metals for obvious reasons because global markets has moved up, one can rank on the short-term basis the way the shorts have build-up. Tata Steel has the maximum shorts so that will move up, followed by Sesa Goa, Sterlite Industries and Jindal Steel and Power.

These four stocks have the maximum shorts, so they should see maximum rally. JSW Steel was a complete surprise for me because that has seen long positions in last one week. If one is looking for a stronger counter then it’s JSW Steel, but if one is looking for a very short-term rally, Tata Steel should be kept as the main target because there are maximum number of shorts.

From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'

The latest earning numbers FIRST on CNBC-TV18

View the original article here

Nifty to end above 5250, take long positions: Sukhani

The trade is that at 5,250 a close above that tells us that this market momentum has turned to up. A close below 5,200 would have told us the opposite. Sudarshan Sukhani

s2analytics.com

Technical analyst Sudarshan Sukhani of s2analytics.com expects Nifty to close above 5,250 today, so he suggests taking some long positions from the start of trade today.

Nifty's close above this level would be indicative of a bullish pattern and an upside trend, he added.

Below is the edited transcript of Sukhani’s interview with CNBC-TV18.

Q: What's the outlook on the Nifty this morning?

Q: Does chart of Divis Labs also look good?

There is a lot more buying here. Today, there will be a gap open of some kind. But then on intraday dips, on intraday rests it is a buying opportunity. It is not likely to stop where it opens.

Q: Which stock would you buy from the banking space?

Q: What about Bata ? Do you think the pull back post result is over?

Q: You have a buy on Jain Irrigation this morning?

Q: You have a sell on Reliance Power ?

A: It is a miserable chart. It shows nothing. It keeps on rallying, the rallies are small, they are very intermittent. Even in terms of time the rallies are not sustained and keep on falling.

The reason why I still have sell is that assuming that the market will open up, there will be some opportunities of selling in that strength and Reliance Power is almost the perfect opportunity.

So, once the stock stalls, it is possible to take a short position even as the broad market goes up.

Q: You also have a sell on BPCL ?

A: That’s a very disappointing chart. It had a straight line decline, didn’t stop at all. And now after that decline it is on the verge of a major breakdown on the downside.

Whether that happens or not, the trade again is that if there is a gap up, if there is some strength in the stock, that strength should be used to go short in it.

Q: What would you do with Shree Renuka now?

Q: What is the chart of Glenmark telling you?

Q: What about Dishman Pharma ?

It does appear that the Nifty is going to close above 5250 for all we know. If that happens, a lot of stocks will move up.

Q: How is the chart of REC ? That looked weak on Friday?

Both these stocks are likely to move up. REC has a very immediate target of Rs 205-210. But eventually I think it will go back to its Rs 250 levels.

Q: Would you buy Marico on dips?

Marico for somebody who is a short-term trader is a sell. It should slide further till it finds support somewhere around Rs 180.

Q: How would you approach the opening at 5260? Would you open up a fresh long here?

A: Yes, I would open up a fresh long looking at a target of 5400 and a stop loss at 5200.

Q: What do you think of Mahindra Satyam ?

A: The charts are saying it is going up. So, that’s fine. But I wouldn’t trade in it. There are so many other midcaps available which are more attractive in the IT sector.

View the original article here

Monday, November 14, 2011

Nifty Points to watch for 14 nov

5382 5139 5104 5082 4978

Tuesday, November 8, 2011

Nifty Points to watch for 8 November

5090

5165

5255

5395

5430

Tuesday, November 1, 2011

Nifty Points to watch for 1 November

5160

5192

5379

5386

5409

5413

5436

5496

Tuesday, October 25, 2011

Nifty Points to watch for 25 October 2011

5210

5135-5150

5100

5071

5058-5062

4993-4999

Wednesday, October 19, 2011

Nifty Points to watch for 20th October 2011

Nifty Points to watch for 20th October 2011 -

Support-

5101-5109

5015

5005

4997

Resistance-

5145

5198

5214

Saniel Golechha

Nifty Points for 19th October

Nifty Points to watch for 19th October 2011 -

Support-

5020-5000 - strong support

4933

Resistance-

5105-5110

5142

5182-5190

Wednesday, April 20, 2011

Nifty Points for 21 April 2011

Nifty might face ressistance in the 5900-5915 range.

Nifty support will be at 5820 then 5760.

We maintain our buy T-5900.

Tuesday, April 19, 2011

Nifty Points for 20th April 2011

Nifty might face ressistance in the 5750-5760 range.

Nifty will have support in the 5690-5700 range.

Buy nifty for 3-4 days above 5765 SL=5700 T-5900.

Monday, April 18, 2011

Nifty Points for 18th April 2011

Nifty might face ressistance in the 5750-5760 range.

Nifty will have support in the 5690-5710 range.

Saturday, April 16, 2011

Nifty Points for 18th April 2011

Nifty is likely to face ressistance at 5860 and 5912.
Nifty will have support around the 5750-65.

Wednesday, April 13, 2011

Nifty Points for 14th April 2011

Nifty might face ressistance around 5930.

Nifty will have support at 5880 and 5830.

We maintain our buy on nifty target 5960.

Monday, August 13, 2012

Friday, August 10, 2012

Thursday, August 9, 2012

Wednesday, August 8, 2012

Tuesday, August 7, 2012

Monday, August 6, 2012

Monday, November 14, 2011

Tuesday, November 8, 2011

Nifty Points to watch for 8 November

Tuesday, November 1, 2011

Nifty Points to watch for 1 November

Tuesday, October 25, 2011

Nifty Points to watch for 25 October 2011

Wednesday, October 19, 2011

Wednesday, April 20, 2011

Tuesday, April 19, 2011

Monday, April 18, 2011

Saturday, April 16, 2011

Wednesday, April 13, 2011

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