Daily Trading strategy

[opagarwal]

Trading strategy for 31st March 2009

TRADING STRATEGY FOR 31ST MARCH 2009
(Based on technical by O P AGARWAL)


Markets close sharply lower


Markets opened gap down yesterday on weak Asian markets and sell off by funds. Market participants preferred to lighten their commitments ahead of year end and avoided fresh build up instead pressed sales to book profit. The Sensex, which had risen by more than 1000 points, or 12.00 per cent in the past week, plunged by 251 points, in opening trade yesterday. The Sensex finally closed the session losing 480 points at 9568, whereas Nifty ended losing 130 points. Meantime, global markets worldwide dipped sharply yesterday with DOW shedding 254 points on investor worries about the fragile financial market which requires fresh infusion of capital. Back home, markets may remain volatile and could consolidate at lower levels, however, readers are advised to wait till markets stabilize.

NIFTY FUTURE (Last close 2988.10)
NF after a huge run up last week opened sharply lower yesterday on weak global cues and slower than expected recovery in the financial markets. NF lost a massive 136 points yesterday dipping near its weekly support but managed to close above the same. The counter may weaken further once NF trades and remains below 2956.25, whereby it may slide to 2919/2886. Strong resistance for NF exists at 3019.75, which if crossed decisively NF may move up to 3057/3071.

TATA COMMUNICATION FUTURE (Last close 522.45)
The telecom stock has risen more than 40% since the beginning of this month on sustained buying. However, the stock lost around 3% yesterday on profit taking and may slide further down to 513/507 once it trades and remains below 518.75. Strong resistance for the stock exists at 526.75.

KINGFISHER AIRLINSES FUTURE (Last close 33.60)
The stock after making a high of 36 during the past two trading sessions witnessed profit taking yesterday and lost around 5%. The company is hopeful of getting a big line of credit from SBI to fulfil its capex plans and to meet other urgent expenses. The company is hopeful of posting good results in FY 09-10. Further, with easing of crude prices the recurring expenses of the airline may come down substantially thereby improving the bottom line. Meantime the stock may move up to 36/39 once it trades and remains above 33.85. Strong support for the stock exists at 32.50.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.


DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.

Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades



Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.

 

[opagarwal]

Trading strategy for 1st April 2009

TRADING STRATEGY FOR 1ST APRIL 2009
(Based on technical by O P AGARWAL)


Markets rebound on sustained buying



After a buoyant start yesterday markets pulled back from yesterday's steep fall on selective value-based buying by some local funds ahead of the fourth-quarter results. Market participants too were hectic buyers on the hope of further rate cut by the apex bank. However, the sentiment turned subdued after initial hours trading yesterday and the Sensex slipped into red. However, the market bounced back shortly thereafter on hectic buying in realty, capital goods, metal and I T stocks. Positive European opening and bargain hunting by local institutions, banking and FMCG stocks flared up pushing the Sensex to 9826.22, gaining more than 250 points. Finally, despite sell off in some front line stocks during the closing hours the Sensex ended with a sharp gain of 140 points at 9708.50.The Nifty, which rallied to 3054.30 in afternoon trade, closed at 3020.95, gaining 42.80 points. Market sentiment may remain firm based on global cues.


NIFTY FUTURE (Last close 3015.25)
NF closed yesterday gaining around one percent over its previous close amid high volatility and intra day swing of more than 60 points. NF after touching a high of 3057 yesterday, exactly at the level indicated in these columns, retraced thereafter to close at 3015.The counter to gain further needs to trade and remain above 3037.75, whereby it may move further up to 3059/3087. Strong short term support for NF exists at 2981.25, which if breached decisively NF may slide to 2956/2941.


RANBAXY FUTURE (Last close 166.30)
The company after moving range bound during the past one week closed up by 4.58% yesterday on the news that a licensing agreement authorizing Ranbaxy to promote and market the drug Olvance in India originally discovered by Daiichi Sankyo which may boost the bottom line of the company. The stock appears positive on weekly charts and may move up to 171/176 once it trades and remains above 167.75. Strong support for the stock exists at 163.25.


TV 18 FUTURE (Last close 70.40)
The company is is engaged in content production and broadcasting and operates India's leading business news television channels, CNBC-TV18 and CNBC Awaaz. It also runs one of India's largest Internet players - Web18, as well as one of India's leading real time financial information and news terminals - Newswire18. TV18 has recently expanded into print with the acquisition of Info media, India's leading player in the special interest publishing and printing operations space, and announced collaboration with Forbes media for the launch of a business magazine in India. The stock of the company after remaining range bound for the past one week closed yesterday 5% higher with high volumes. The stock appears positive on weekly charts and may move up to 76/79 once it trades and remains above 71.75. Strong support for the stock exists at 69.25.



Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.


DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.

Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades



Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.

 

[opagarwal]

Trading strategy for 2nd April 2009

TRADING STRATEGY FOR 2ND April 2009
(Based on technical by O P AGARWAL)


Markets close on strong note


Markets opened flat yesterday on mixed cues from the global markets but soon sentiment turned negative and prices across board declined sharply taking the Sensex down to 9546 and the Nifty to 2965. The market witnessed high volatility during the intra day trading but a trend reversal was seen soon after findings of a survey which showed an improvement in Indian manufacturing sector in March 2009 offsetting dismal exports data for February 2009. Market participants are hopeful that the apex bank may act sooner than later for further easing of the monetary policy. Investors in late afternoon trade bought heavily in index heavy weight stocks resulting in surge in prices leading to a higher close of indices. The Sensex, which rose to 9921 during the closing hours of the session, closed with a gain of 193 points at 9902 while the Nifty ended at 3060.35 with a gain of 39.40 points or 1.3% at 3060. In intra-day trades, the Nifty touched a high of 3069. Meanwhile, European and U S markets closed in the positive yesterday on better-than-expected economic reports. Back home, markets may remain firm today but readers are cautioned against building large positions in view of ensuing holidays.

NIFTY FUTURE (Last close 3061.50)
NF opened flat yesterday on the back of mixed cues from the global markets. A late hour surge aided the NF to close with a gain of 46 points. Markets remained highly volatile with NF swinging more than 120 points intra day. NF finally closed near its days high suggesting that it may gain further momentum once it trades and remains above 3076.75, whereby it may move further to 3107/3141. Strong support for NF exists at 3022.25 which if breached decisively NF may slide to 2991/2969.

NALCO FUTURE (Last close 214.30)
Nalco manufactures and distributes aluminum products where Government of India holds more than 85% of equity. The stock after a steep surge of 40% from its low of 175 made on 3rd March 09 to a high of 242 made on 24th March 09 corrected substantially thereafter and dipped to a low of 206 before recovering yesterday to close with marginal gain over its previous close. The stock may move up to 221/225 once it trades and remains above 216.50. Strong support for the stock exists at 211.25.

GITANJALI GEMS FUTURE (Last close 45.75)
The company manufactures, exports and markets diamonds and jewelllery. It operates in three main lines of business diamonds and jewellery, the nascent lifestyle products and SEZs. It owns a number of jewellery brands, including Ddamas, Nakshatra, Sangini and Asmi. The stock has lost substantial value during the past six months but its movement shows signs of positive bias during the past one week. The stock closed yesterday above its weekly resistance with good volumes. The stock appears attractive on weekly charts and may move up to 49/53 once it trades and remains above 46.25. Strong support for the stock exists at 44.50.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.


DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.

Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades



Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.

 

[opagarwal]

Trading strategy for 6th April 2009

TRADING STRATEGY FOR 6TH APRIL 2009
(Based on technical by O P AGARWAL)



Markets close the week buoyant amid high volatility


Market last week closed upbeat on the back of strong global cues emanating from the G20 meeting in London wherein a sum of $1 trillion was committed to revive the world economies. Back home, market participants appeared convinced that the world economy appears to be recovering and were also hopeful that the apex bank may announce rate cuts sooner than later on the back of falling inflation to further stimulate the economy. While the Sensex, which surged past the 10K mark once again to a new 5-month high, closed the week at 10,348 gaining 300 points or 2.98%, the Nifty settled at 3211.05 gaining102 points or 3.29%. However, profit taking at higher levels is not ruled out this week in view of announcement of Q4 results of corporate houses and truncated trading week. Readers are therefore, advised to open fresh positions with caution with strict stop for every trade.

NIFTY FUTURE (Last close 3222.60)
NF closed the week buoyant near its weekly high aided by short covering and positive global cues with high volatility and intra week swing of more than 290 points making a high of 3242 and a low of 2951. NF may remain this week in the range of 3114-3319, break above, it may move up to 3371/3427, or else break below NF may slide to 3076/3029. For today’s trading, the counter will gain strength once it trades and remains above 3253.75, whereby it may move up to 3271/3298. Strong support for NF exists at 3189.25, which if breached decisively NF may slide to 3169/3144.

UTV SOFTWARE FUTURE (Last close 206.40)
The company a TV broadcaster produces television programs and feature films, commercials, animation programs, corporate documentaries and in-flight programs. The company posted a 29 percent rise in quarterly net profit, led by gains in television content and gaming, but its broadcast division continued to make losses, pressuring margins. However, the company, which has invested 4.1 billion rupees into motion pictures, expects the benefits of a strong movie library, including Hollywood ones, to accrue in coming quarters. The company has recently tied up into an exclusive distribution partner for Disney Theatrical release in India. The prospects of the company appear bright. Meantime, the stock of the company took a hit after its announcement about pledging of promoters' stake. Meantime, the stock is moving range bound for the past two weeks and appears with positive bias despite negative closing during the week. The stock appears positive on weekly charts and may move up to 215/223 once it trades with volumes and remains above 208.75. Strong support for the stock exists at 199.75.

EVERONN SYSTEMS FUTURE (Last close 142.65)
The company is a knowledge management, education and training company offering a range of services. These services include creating educational and training content, designing and executing learning initiatives and setting up the needed infrastructure for learning and training. The Company is engaged in setting up virtual and interactive learning classroom networks across India. It also develops and integrates content for Indian and global audience at schools, colleges, corporates and retail segments. The stock after a volatile trading during the week ended 20th March 09, recovered sharply and appears to be consolidating thereafter at current levels. The stock appears positive on weekly charts and may move up to 151/159 once it trades with volumes and remains above 144.75. Strong support for the stock exists at 139.25.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.


DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.

Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades



Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.

 

[Ganesh543]

Re: Trading strategy for 6th April 2009

TRADING STRATEGY FOR 6TH APRIL 2009
(Based on technical by O P AGARWAL)



Markets close the week buoyant amid high volatility


Market last week closed upbeat on the back of strong global cues emanating from the G20 meeting in London wherein a sum of $1 trillion was committed to revive the world economies. Back home, market participants appeared convinced that the world economy appears to be recovering and were also hopeful that the apex bank may announce rate cuts sooner than later on the back of falling inflation to further stimulate the economy. While the Sensex, which surged past the 10K mark once again to a new 5-month high, closed the week at 10,348 gaining 300 points or 2.98%, the Nifty settled at 3211.05 gaining102 points or 3.29%. However, profit taking at higher levels is not ruled out this week in view of announcement of Q4 results of corporate houses and truncated trading week. Readers are therefore, advised to open fresh positions with caution with strict stop for every trade.

NIFTY FUTURE (Last close 3222.60)
NF closed the week buoyant near its weekly high aided by short covering and positive global cues with high volatility and intra week swing of more than 290 points making a high of 3242 and a low of 2951. NF may remain this week in the range of 3114-3319, break above, it may move up to 3371/3427, or else break below NF may slide to 3076/3029. For today’s trading, the counter will gain strength once it trades and remains above 3253.75, whereby it may move up to 3271/3298. Strong support for NF exists at 3189.25, which if breached decisively NF may slide to 3169/3144.

UTV SOFTWARE FUTURE (Last close 206.40)
The company a TV broadcaster produces television programs and feature films, commercials, animation programs, corporate documentaries and in-flight programs. The company posted a 29 percent rise in quarterly net profit, led by gains in television content and gaming, but its broadcast division continued to make losses, pressuring margins. However, the company, which has invested 4.1 billion rupees into motion pictures, expects the benefits of a strong movie library, including Hollywood ones, to accrue in coming quarters. The company has recently tied up into an exclusive distribution partner for Disney Theatrical release in India. The prospects of the company appear bright. Meantime, the stock of the company took a hit after its announcement about pledging of promoters' stake. Meantime, the stock is moving range bound for the past two weeks and appears with positive bias despite negative closing during the week. The stock appears positive on weekly charts and may move up to 215/223 once it trades with volumes and remains above 208.75. Strong support for the stock exists at 199.75.

EVERONN SYSTEMS FUTURE (Last close 142.65)
The company is a knowledge management, education and training company offering a range of services. These services include creating educational and training content, designing and executing learning initiatives and setting up the needed infrastructure for learning and training. The Company is engaged in setting up virtual and interactive learning classroom networks across India. It also develops and integrates content for Indian and global audience at schools, colleges, corporates and retail segments. The stock after a volatile trading during the week ended 20th March 09, recovered sharply and appears to be consolidating thereafter at current levels. The stock appears positive on weekly charts and may move up to 151/159 once it trades with volumes and remains above 144.75. Strong support for the stock exists at 139.25.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.


DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.

Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades



Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.

I think that 6th April will have high volatility offcourse markets can move up with all the reasons to move down as it has done recently , but more important is market crash is very much possible if panic selling comes as DII and FII has lot of ammunition to pump into crashing markets to make good money

My opinion is the best strategy is to short weak stocks at days high and make good money

DO Safe trading
Hare Krishna
Ganesh

 

[Samindal]

Re: Trading strategy for 6th April 2009

Market will be volatile on 6th, i think so too

 

[rajatheroyal]

Re: Trading strategy for 6th April 2009

Sir why dont u post all ur analyis in a same thread instead of opeing new theards every day.

 

[opagarwal]

Trading strategy for 8th April 2009

TRADING STRATEGY FOR 8TH APRIL 2009
(Based on technical by O P AGARWAL)


Markets close higher with cautious optimism


Markets opened higher on Monday on the back of positive global cues but the market pared gains in mid morning session and lost further ground in early afternoon trades on declining Asian markets. However, the market regained strength thereafter upon positive opening of European bourses. In a volatile session, markets further lost sharply in mid afternoon trades but a sharp reversal was again witnessed in late trade. The entire session on Monday saw high volatility with the Sensex finally closing decisively above the 10500 mark at 10534.87. The Sensex touched an intra-day high of 10654.89 and a low of 10410.44. Nifty ended at 3256, up 1.42 per cent or 45.55 points. Nifty touched a high of 3303.90 and a low of 3211.35 during the day on Monday. Market sentiment remained firm on the back of expectations of easing of monetary policy by the apex bank. Readers are however, advised to trade with caution in view of unabated surge in the market during the past one month to the tune of around 30%, and therefore, profit taking is not ruled out at higher levels.


NIFTY FUTURE (Last close 3260.25)
NF closed on Monday gaining 37 points amid high volatility and intra day swing of more than 75 points. The counter has seen a sharp rise of more than 30% in a short span of less than one month from a low of 2531 made on 9th March 2009 leaving gaps in between and therefore, one needs a cautious approach as profit taking at higher levels is not ruled out. However, the counter to gain further strength needs to remain above 3288.75, whereby it may move up to 3314/3348. Strong immediate support for NF exists at 3234.25, which if breached decisively NF may slip to 3205/3187.


DIVIS LABS FUTURE (Last close 926.40)
The company is engaged in research and development of pharmaceuticals and is the largest manufacturer of some peptide reagents and protected amino acids worldwide. However, on a consolidated basis, the company reported a 19.72% fall in net profit to Rs 79.53 crore on 6.82% drop in net sales to Rs 264.75 crore in Q3 December 2008 over Q3 December 2007. Meantime, the stock after moving range bound during the past week closed 3% lower on Monday on profit taking. The stock may witness further profit taking at current levels and may slide to 900/889 once it trades and remains below 916.25. Strong resistance for the stock exists at 937.75.


WOCKHARDT PHARMA FUTURE (Last close 74.05)
The company saw its stock valuations declining sharply during the past few months on severe cash crunch since the company is saddled with a total debt of Rs 3,700 crore and may have to incur an additional forex loss estimated around Rs 1,200 crore. The company is reported to have received around Rs 175 crore through loans from State Bank of India and another private bank, and is looking to infuse some fresh cash through the sale of its veterinary division. This is one of the many businesses the company is trying to sell to overcome its financial crisis. Meantime, the stock appears to be consolidating on sustained buying at current levels and may move up to 79/83 once it trades with volumes and remains above 75.75. Strong support for the stock exists at 72.25.



Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.


DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.

Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades

Visit : www.bazarbhavishya.com regularly
Email: [email protected]

Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.

 

[opagarwal]

Trading strategy for 9th April 2009

TRADING STRATEGY FOR 9TH APRIL 2009
(Based on technical by O P AGARWAL)


Markets recover in late rally


Markets opened yesterday sharply lower on the back of weak U S markets overnight and negative opening of Asian markets. Stocks cutting across sectors were dumped and the Sensex nosedived by around 365 points within the first few minutes of opening. Majority of frontline stocks slid in deep red and remained so till noon. But then, around mid afternoon, stocks, led by those from realty, FMCG and consumer durables sectors rallied led by bellwether Reliance, which contributed to the sharp pull back. FIIs participation aided the sentiment whereby auto, metal, IT and power stocks posted impressive gains. The Sensex, which had dipped to 10,171 in early morning trade, rallied to a high of 10,778 around late afternoon and finally closed the session at 10,742, gaining 207 points. The Nifty which had dropped to a low of 3149 in early trade ended with a gain of 86 points or 2.65% at 3342, a few points down from its intra-day high of 3357. In view of high volatility in the market, readers are advised to trade with caution.


NIFTY FUTURE (Last close 3355.50)
NF closed yesterday gaining in late trade 95 points amid high volatility and intra day swing of more than 200 points. The counter will gain further strength once it trades and remains above 3373.75, whereby it may move up to 3401/3458. Strong support for NF exists at 3315.25, which if breached decisively NF may slide to 3287/3249.


TATA TEA FUTURE (Last close 596.55)
The company is the largest Tea manufacturing company in India with operations in over 40 countries. The company managed to enhance its sales and net profit in Q3 despite economic meltdown worldwide. Net profit rose 10.32% to Rs 48.30 crore in the quarter ended December 2008 as against Rs 43.78 crore during the previous quarter ended December 2007. The company announced in March 09 that it is set to acquire 51% in Grand, Russia's tea and coffee major, through one of its overseas subsidiaries thereby increasing its strength in overseas markets. Meantime, according to the research conducted by one of the brokerage firm, the company is expected to register 9.7% growth in March sales to Rs 1291.4 crore on Y-o-Y basis. In addition, the company's net profit is also predicted to go up by 18.6% to Rs 80.8 crore on Y-o-Y basis. Further, the company hopes to realize better price for its products this year in view of drop in production across world with the other major producers, Kenya which has been reeling under a spell of drought in parts of tea-growing areas and Sri Lanka, having so far reported lower production. During the first two months. Sri Lankan production has fallen by around 40%. Meantime, the stock of the company after moving range bound for the past one week closed yesterday above its short term trend line with high volumes. The stock appears attractive on weekly charts and may move up to 609/618 once it trades and remains above 598.25. Strong support for the stock exists at 591.25.


IOB FUTURE (Last close 50.50)
The mid size PSU bank having 1000 branches across the country provides banking and other financial services to corporate and private customers including personal banking, cash management, retail loans and other financial services. The government of India holds 61.23% stake in the bank (as on 31 December 2008). Life Insurance Corporation (LIC) of India has hiked its stake in the bank to 10.01% from 9.95% after acquiring 2.91 lakh shares from open market on 19 March 2009. The banks net profit rose 26% to Rs 388.44 crore on 39.6% increase in operating income to Rs 3204.90 crore in Q3 December 2008 over Q3 December 2007. Meantime, the bank has received the nod from Reserve Bank of India to acquire the assets and liabilities of Pune based Shree Suvarna Sahakari Bank (SSSB), thereby increasing its customer base by a whopping three lakh helping the bank to increase the business to Rs 10,000 crore in 09-10 fiscal as per banks GM. The stock of the bank meantime is moving sideways for the past one week and may move up to 54/57 once it trades and remains above 50.80. Strong support for the stock exists at 47.75.



Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.


DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.

Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades



Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.

 

[opagarwal]

Trading strategy for 13th April 2009

TRADING STRATEGY FOR 13TH APRIL 2009
(Based on technical by O P AGARWAL)


Markets close the week strong


Markets maintained their upward momentum during the past week despite having just three trading sessions owing to holidays. The Sensex ended higher by around 4.4% over its previous close on account of strong buying activity by FIIs wherein they bought stocks worth about 13.5 bn. during the week. The Sensex has ended higher for the fifth week in a row, and is now up nearly 30% (2,478 points). Market sentiment remained buoyant during the week as domestic institutional investors had absorbed heavy selling by foreign funds witnessed in first two months of calendar year 2009. Market sentiment improved further dramatically on signs of improvement in the economy with inflation nearing the zero level and sharp rally in global equities on hopes that the worst of the global economic recession may be over. Banking stock rallied higher during the week on hopes that the apex bank may sooner than later revise the interest rates to further give impetus to the economy. Meantime, Q4 results by the corporates will set the trend for the markets this week onwards as investors will be closely monitoring the same. Infosys will announce their results on 15th April 09. Readers are therefore, advised to trade with caution as correction in the market is not ruled out at higher levels.


NIFTY FUTURE (Last close 3355.40)
NF closed the week gaining 132 points amid high volatility and intra week swing of more than 250 points on strong buying in index heavy weight stocks led by Reliance Group. The counter may remain in the range of 3257-3481 this week, break above may take NF to 3529/3559 or else break below NF may slide to 3229/3181. for todays trading NF will gain strength once it trades an remains above 3387.75, whereby it may move up to 3413/3436.Strong support for NF exists at 3305.25, which if breached decisively NF may slip to 3286/3247.


INDIAN BANK FUTURE (Last close 91.50)
Indian Bank is a full service bank, in which the Government of India holds 80% stake. The bank offers a wide range of services including a foreign currency banking unit at Colombo and specialized overseas branches at Chennai, Bangalore, and Mumbai exclusively for handling foreign exchange transactions arising out of export, import, remittances and non resident Indian business. The bank has recently figured in the list of world's biggest 2,000 companies by US magazine Forbes. Net profit of the bank rose 14.05% to Rs 350.70 crore in the quarter ended December 2008 as against Rs 307.50 crore during the previous quarter ended December 2007. The stock of the bank after moving range bound during the past week closed marginally higher above its short term trend line and looks positive on weekly charts. The stock may move to 95/101 once it trades and remains above 92.50. Strong support for the stock exists at 88.25.


CROMPTON GREAVES FUTURE (Last close 138.50)
The companys shares plunged more than 20% in two sessions during the last week of March 09 on dumping of shares by both FIIs and Domestic institutions on its plan to buy 41 percent in group firm Avantha Power & Infrastructure Ltd (APIL), on concerns about the investment. However, company spokesperson meantime, clarified and assured the investors that power generation is being viewed as a long-term business opportunity as well as forward integration of its core business and will prove a good investment in the long run. The stock thereafter, moved range bound and recovered from its lows and appears to be consolidating at current levels. The stock closed the week above its short term trend line gaining 5% over its previous close with average volumes. The stock appears positive on weekly charts and may move up to 147/151 once it trades and remains above 141.25. Strong support for the stock exists at 136.25.



Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.


DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.

Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades


Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.