Daily Trading strategy

[hindlevernet]

Re: Trading strategy for 20th April 2009

Hi,

Most of skilled investos know what you are saying about the support and resistance levels. Question remains whether the trend is bullish or bearish. will Nifty fall below 3350 or not. My analysis indicates that if Nifty opens above 3390 on Monday, primary trend will remain positive

 

[opagarwal]

Trading strategy for 21st April 2009

TRADING STRATEGY FOR 21ST APRIL 2009
(Based on technical by O P AGARWAL)


Market takes a breather ahead of RBI meet


Market opened positive yesterday and after rallying higher remained firm till mid afternoon. Market participants remained hopeful about the outcome of RBIs meet today on rate cut and in return fairly good buying support was lent to interest rate sensitive automobile, bank and reality stocks. However, markets witnessed heavy unwinding of positions at late hour trade in front line stocks led by Reliance pack, which pulled the Sensex to the negative territory. Market sentiment got further subdued on weak European and U S futures market with the result that investors dumped stocks and turned cautious and preferred to book profit at current levels. The Sensex, after hitting a high of 11209 in mid morning session dipped to a low of 10863 in late afternoon trades finally closed at 10979, losing 43 points. The Nifty ended with marginal loss at 3377. The Nifty made a high of 3441 and a low of 3339 yesterday. Market volatility and profit taking at higher levels by the investors are not ruled out and readers are therefore, advised to trade with caution.


NIFTY FUTURE (Last close 3370.70)
NF closed flat yesterday amid high volatility and intra day swing of more than 110 points. Chart indictors for the counter are drifting towards negative bias with NF making lower tops and lower bottoms for the past three trading sessions. Profit taking at current levels is not ruled out. NF may slip to 3278/3249 once it trades and remains below 3320.25. NF may face resistance at 3407.75 which if crossed decisively it may move up to 3434/3455.


IOC FUTURE (Last close 432.00)
The PSU oil stock closed yesterday above its weekly resistance gaining rupees six over its previous close. The stock appears positive on weekly charts and may move up to 438/445 once it trades and remains above 433.25. Strong support for the stock exists at 426.25. Meantime, the company will post a profit in the year ended March 31 after crude oil prices slumped from a record, Oil Secretary R.S. Pandey said in New Delhi on April 16. Further, with crude falling over 9% yesterday and the outlook remaining weak, the company hopes to benefit immensely.


HPCL FUTURE (Last close 268.05)
The stock after remaining range bound for the past two trading sessions closed yesterday with marginal gain but above its short term trend line.
The stock appears positive on weekly charts and may move up to 277/284 once it trades and remains above 271.25. Strong support for the stock exists at 264.50. Meantime, the company will post a profit in the year ended March 31 after crude oil prices slumped from a record, Oil Secretary R.S. Pandey said in New Delhi on April 16. Further, with world crude falling over 9% yesterday and the outlook remaining weak, the company hopes to benefit immensely during the current as well as in the FY09-10.



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 22nd April 2009

TRADING STRATEGY FOR 22ND APRIL 2009
(Based on technical by O P AGARWAL)


Markets close lower despite rate cut by RBI

Markets opened lower yesterday on weak global cues and the Sensex dipped to a low of 10764 amid high volatility at one time. However, markets bounced back after the announcement of 25 basis points cut in Repo and Reverse Repo rates by the RBI around noon with buying seen in interest sensitive sectors like realty, FMCG and telecom stocks. Select bank, IT and pharma stocks too participated in the rally. However, market sentiment remained subdued despite the rate cut by the apex bank and investors preferred to lighten their commitments and avoided adding fresh positions thereby forcing the market to decline once again in late afternoon trades and finally the Sensex, which had shot up to 11,068 from a low of 10,764, ended the day at 10,898 with a loss of 81 points. The Nifty closed 11 points lower at 3365.30. In intra-day trades, the Nifty touched a high of 3414.70 and a low of 3309.35. Readers are advised to trade with caution in view of high volatility seen in the market during the past few weeks.

NIFTY FUTURE (Last close 3365.85)
NF closed flat yet again after opening lower around its weekly support as was indicated in these columns yesterday. The counter appears to be getting support at lower levels despite profit taking at higher rates. However, NF to gain further strength needs to trade and remain above 3399.75, whereby it may move up to 3434/3453. Strong support for NF exists at 3319.25, which if breached decisively NF may decline to 3301/3280.

HCL TECH FUTURE (Last close 136.20)
The company is a global technology and software services company offering software services, business process outsourcing services and infrastructure management services. The company announced a rise in net profit of 56.83% to Rs 398 crore on 10.98% increase in net sales to Rs 1305 crore in Q2 December 2008 over Q1 September 2008. The company has large pending orders from firms of international repute and hopes to continue getting their patronage in future too. The stock of the company is moving range bound for the past one week and closed yesterday flat with high volumes. The stock appears positive on weekly charts and may move up to 142/147 once it remains and trades above 137.50. Strong support for the stock exists at 132.75.

HDIL FUTURE (Last close 137.00)
The company is a real estate development company. The company's services include residential, commercial, and retail real estate development. HDIL is one of the largest players in slum redevelopment and is reportedly expected to generate 10 million sq ft of TDR from the Mumbai international airport project by March 2010 and a total of 50 million sq ft in the next four-five years, from rehabilitating 85,000 slum dwellers from 276 acres of land. TDR sales currently comprise 15% of HDIL's revenues. The stock of the company after moving range bound for the past one week closed yesterday above its short term trend line gaining around 6%. The stock will move up to 144/149 once it trades and remains above 138.75. Strong support exists at 133.25.

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.

,

 

[sudha_rani_agarwal]

Re: Trading strategy for 22nd April 2009

:thanx: THANKS A LOTTTTTTTTTTTT SIR FOR YOUR SUCH VALUABLE DETAILED FUTURE STOCKS & NIFTY LEVELS HELP.SIR IF POSSIBLE PLEASE GIVE US MORE STOCKS FUTURE MAY BE AT LEAST 5 SHARES FOR TRADING.
SIR I AM REALLY IMPRESSED WITH YOUR SUCH DETAILED EXPLANATION.
ONCE AGAIN THANKS A LOT FOR YOUR SUCH VALUABLE HELP TO US.PLEASE KEEP POSTING YOUR HELP TO US.:thanx:
WITH REGARDS
SUDHA RANI

 

[HEM]

Re: Trading strategy for 22nd April 2009

opagarwal ji ,
I request you that please don't open new thread for every day.
you can do it in one thread every day instead of opening new thread everyday.
please post your everyday Trading strategy in " Daily Trading strategy " thread.

Thanks & Regards
Hemant

 

[opagarwal]

Trading strategy for 23rd April 2009

TRADING STRATEGY FOR 23RD APRIL 2009
(Based on technical by O P AGARWAL)


Markets drift lower amid high volatility


The market opened firm yesterday on positive overnight cues from the U S but after remaining range bound for the first two hours slipped into the red in early afternoon on mixed global cues and subdued investor interest ahead of Q4 results of Reliance Group today. Market participants turned cautious and unwound their positions and pressed sales across index heavy weight stocks. Banking stocks despite rate cuts announced by the apex bank yesterday were volatile and lost ground gradually on profit booking. Stocks across board from realty, capital goods, telecom, auto, power and metal bore the brunt of selling and ended the session with substantial losses. The Sensex, after making a high of 11036 in early trades dipped to a low of 10715 intra day before closing the session losing 80 points at 10817. The Nifty after touching a high of 3401 and a low of 3296 finally closed with a marginal loss of one percent at 3330. Readers are advised to trade with caution in view of Q4 results by the market leader Reliance Group today.


NIFTY FUTURE (Last close 3323.40)
NF closed yesterday losing 42 points amid high volatility and intra day swing of more than 100 points. The counter failed to cross over the level of 3999 indicated in these columns yesterday and dipped to a low of 3288 intra day near its days support level. The counter is making lower bottoms for the past three trading sessions suggesting weakness which is evident from selling at higher levels. The counter may witness more selling at higher levels today and may slip to 3268/3235 once NF trades and remains below 3301.25. Strong resistance for NF exists at 3358.75, which if crossed NF may move up to 3378/3411.


HINDUSTAN ZINC FUTURE (Last close 481.95)
The company is engaged in mining and smelting of zinc and lead. The products include zinc ingots, lead ingots, silver, sulphuric acid, cadmium ingots, copper cathode and others. Net profit of the company declined 53.35% to Rs 551.47 crore in the quarter ended March 2009 as against Rs 1182.20 crore during the previous quarter ended March 2008 as announced yesterday. Meantime, the stock has surged a whopping 60% in a short span of 27 trading sessions from a low of 329 to a high of 510 made on 17th April 2009. The stock closed yesterday 3% lower on profit booking and dismal Q4 results. The stock may further slide to 469/458 once it trades and remains below 477.25. Strong resistance for the stock exists at 486.75.


FINANCIAL TECHNOLOGY FUTURE (Last close 658.00)
The company is primarily engaged in developing software solutions used in online trading. The company posted a dismal Q3 results whereby net profit fell 43.94% to Rs 43.19 crore on a 47.76% decline in sales to Rs 62.40 crore in Q3 December 2008 over Q2 September 2008. The stock saw a massive jump of more than 75% since the beginning of March 2009 on various expansion projects. However, the stock closed yesterday losing 2% over its previous close on profit taking. The stock may further slip to 638/627 once it trades and remains below 653.25. Strong resistance for the stock exists at 667.75.



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.

 

[raaghux]

Re: Trading strategy for 23rd April 2009

cross over level is 3399, not 3999. is ti right?

 

[kirtibas]

Re: Trading strategy for 23rd April 2009

TRADING STRATEGY FOR 23RD APRIL 2009
(Based on technical by O P AGARWAL)


WHAT technology ur using sir

 

[bjnaikhot]

Re: Trading strategy for 23rd April 2009

crucial days ahead

for nifty 3309 is stll working as a support,,though breached for a while intraday yesterday,but still holds true as ,somehow nifty managed to close above it.for the upside now a close above 3376 should be enough to resume the uptrend.
on 29th march, i mentioned about a probable head and shoulder pattern developing on dow chart...at that point of time there was no right shoulder at all,so i wrote that ,it will be crucial how a few weeks time passes on ,,,http://www.bestfreecharts.com/?emai...028dcb611cf6&gclid=CPTq86iJ0pkCFRcJbwodjDcQvA open this link and one can easily see right shoulder on dow chart ,,,now !!.
a word of caution here......though it seems that inverted h&s is developing on dow,,,,it needs a break-out of the neckline...approx. recent high.....and another look on dow daily chart also suggests that ,,may be a rounding top pattern is forming on the daily charts....so if dow cant break out of its recent highs in a few days time,,,,the whole rally may fizzle out...this is all technical analysis is all about..in any case though a big trading opportunity is on the cards on either side.
nifty has supports at around 3300,,,and 3128 levels ,so watch these levels.
......jai sai nath....

 

[opagarwal]

Trading strategy for 24th April 2009

TRADING STRATEGY FOR 24TH APRIL 2009
(Based on technical by O P AGARWAL)


Markets surge in late rally


Markets opened with modest gains yesterday on the back of mixed to flat global cues. The Sensex however, after dipping to a low of 10758 in early trades made a sharp reversal soon. Q4 results of some of the front line companies too aided the market sentiment. IT stocks staged a smart recovery and remained firm throughout the session. Automobile, Capital goods, oil and power stocks held firm on demand by the market participants. Banking stocks which, failed to cheer previously after the rate cut by the apex bank rebounded sharply yesterday on hopes of good credit demand by the industry. Meantime, inflation rose 0.26% in the year through 11 April 2009, higher than previous week's 0.18% rise. The Sensex, which had dipped to a low of 10,758 after opening with a modest gain, surged past 11,000 and then to a high of 11,203 during the fag end of the session before finally closing at 11,134, up 317 points. The Nifty closed with a gain of 93 points or 2.8% at 3423. The Nifty had made a low of 3310 in morning trade and a high of 3439.90 yesterday. Readers are advised to trade with caution in view of high volatility in the market.


NIFTY FUTURE (Last close 3426.05)
NF closed yesterday above its weekly resistance crossing above 200 DMA. NF gained 102 points yesterday amid high volatility and intra day swing of more than 130 points. The counter may gain further momentum once it trades and remains above its near term resistance at 3442.75, whereby it may move up to 3475/3511. Strong support for NF exists at 3382.25 which if breached decisively NF may slip to 3352/3330.


ITC FUTURE (Last close 190.30)
The company is the largest manufacturer of cigarettes in India and is a member of BAT Group of UK. ITC is rated among the World's Best Big Companies, The Company has plans for huge capital expenditure in coming years to drive its future earnings. The company will benefit immensely on expectation of good monsoon this year since FMCG firms derive substantial revenue from rural market. Meantime, the stock of the company after moving range bound for the past one week closed yesterday above its weekly resistance with good volumes. The stock may move up to 194/197 once it trades and remains above 190.55. Strong support for the stock exists at 189.25.


KINGFISHER AIRLINES FUTURE (Last close 39.10)
The private airline belongs to UB Group which hopes to turn round during FY 09-10 with lower crude prices and cost cutting measures. The company is targeting an equity infusion of around 20 billion rupees through strategic and financial investors and may even monetize aircraft order book over time as per company spokesperson in February 2009.Meantime Air France-KLM has initiated discussions with the company to serve up to the expanding domestic market which in turm may prove beneficial to the company. Further, a leading brokerage firm of Mumbai has maintained a BUY rating for the stock with a target of Rs. 47.50 with in 1-5 days. The stock of the company after remaining range bound for the past one week closed yesterday above its weekly resistance. The stock once trades and remains above 39.55 will move up to 42/44. Strong support for the stock exists at 38.25.



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.