Daily Trading strategy
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Trading strategy for 27th April 2009
TRADING STRATEGY FOR 27TH APRIL 2009
(Based on technical by O P AGARWAL)
Markets close firm on growing optimism
Markets closed the week firm with the Sensex advancing by 2.78 % or 305 points at 11329 and the Nifty rose 2.84 % or 96 points on buying support from the FIIs and short covering ahead of April 09 derivative series expiry on Wednesday the 29th April 09. Q4 results of Corporates failed to act as dampener to the markets despite the fact that a number of macro factors appear discomforting with the industry complaining of lackluster demand. Market participants are wondering whether the current rally will be able to keep up its upward momentum since markets have already made solid gains with the Sensex surging by a whopping 3168 points or 39% since its recent low at 8160 made on 9th March 09. Market will be keenly watching the Q4 results of few more frontline companies like: JP associates, Sterlite, Reliance capital, Reliance comm., Bharti etc., this week. Further, market volatility may remain high this week in view of shortened week of merely 3 trading sessions and therefore, readers are advised to trade with caution.
NIFTY FUTURE (Last close 3482.05)
NF closed the week gaining 100 points amid high volatility and intra week swing of more than 200 points on strong buying during the week by FIIs and short covering by bears ahead of April 09 derivative expiry on Wednesday. NF may remain in the range of 3401-3567, break above NF may move up to 3594/3624, or else break below NF may slip to 3367/3337. For todays trading the counter may gain further strength once it remains and trades above 3513.75, whereby it may move up to 3537/3561. Strong support for NF exists at 3431.25, which if breached decisively NF may slide to 3392/3371.
IVRCL FUTURE (Last close 169.35)
The company undertakes contracts to execute civil engineering works. The company holds large pending orders to be executed during FY 09-10 thereby deriving better revenue for the year. Meantime, the stock closed the week gaining 10% over its previous close with good volumes. The stock remains positive on weekly charts and may move further to 177/182 once it trades and remains above 171.75. Strong support for the stock exists at 167.25.
GAIL FUTURE (Last close 252.20)
GAIL India is India's largest natural gas transmission company. In addition, it processes natural gas into LPG, apart from having a small presence in the petrochemicals and oil & gas exploration sectors. The stock after remaining range bound during the past few trading sessions closed the week flat with marginal loss. The stock appears positive on weekly charts and may move up to 259/265 once it trades and remains above 253.75. Strong support for the stock exists at 246.25.
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.
TRADING STRATEGY FOR 27TH APRIL 2009
(Based on technical by O P AGARWAL)
Markets close firm on growing optimism
Markets closed the week firm with the Sensex advancing by 2.78 % or 305 points at 11329 and the Nifty rose 2.84 % or 96 points on buying support from the FIIs and short covering ahead of April 09 derivative series expiry on Wednesday the 29th April 09. Q4 results of Corporates failed to act as dampener to the markets despite the fact that a number of macro factors appear discomforting with the industry complaining of lackluster demand. Market participants are wondering whether the current rally will be able to keep up its upward momentum since markets have already made solid gains with the Sensex surging by a whopping 3168 points or 39% since its recent low at 8160 made on 9th March 09. Market will be keenly watching the Q4 results of few more frontline companies like: JP associates, Sterlite, Reliance capital, Reliance comm., Bharti etc., this week. Further, market volatility may remain high this week in view of shortened week of merely 3 trading sessions and therefore, readers are advised to trade with caution.
NIFTY FUTURE (Last close 3482.05)
NF closed the week gaining 100 points amid high volatility and intra week swing of more than 200 points on strong buying during the week by FIIs and short covering by bears ahead of April 09 derivative expiry on Wednesday. NF may remain in the range of 3401-3567, break above NF may move up to 3594/3624, or else break below NF may slip to 3367/3337. For todays trading the counter may gain further strength once it remains and trades above 3513.75, whereby it may move up to 3537/3561. Strong support for NF exists at 3431.25, which if breached decisively NF may slide to 3392/3371.
IVRCL FUTURE (Last close 169.35)
The company undertakes contracts to execute civil engineering works. The company holds large pending orders to be executed during FY 09-10 thereby deriving better revenue for the year. Meantime, the stock closed the week gaining 10% over its previous close with good volumes. The stock remains positive on weekly charts and may move further to 177/182 once it trades and remains above 171.75. Strong support for the stock exists at 167.25.
GAIL FUTURE (Last close 252.20)
GAIL India is India's largest natural gas transmission company. In addition, it processes natural gas into LPG, apart from having a small presence in the petrochemicals and oil & gas exploration sectors. The stock after remaining range bound during the past few trading sessions closed the week flat with marginal loss. The stock appears positive on weekly charts and may move up to 259/265 once it trades and remains above 253.75. Strong support for the stock exists at 246.25.
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.
Trading strategy for 28th April 2009
TRADING STRATEGY FOR 28TH APRIL 2009
(Based on technical by O P AGARWAL)
Markets close flat with cautious optimism
Markets opened gap down yesterday taking cues from the weak Asian bourses following the outbreak of swine flu in North America. However, markets soon recovered from their lows on the back of short covering ahead of April derivative series expiry on Wednesday. Impressive Q4 results of few frontline companies further aided the sentiment and the Sensex moved in to the positive territory However, profit taking at higher levels pulled the market down once again and finally the Sensex closed the day with marginal gain of 42 points at 11371 after making a high of 11492 and a low of 11176 during the session. The Nifty, after touching a high of 3517 and a low of 3435 in morning trade finally closed the day at 3470 with marginal loss of 10 points. The markets showed a mixed trend yesterday with FMCG, realty and power sector stocks declining barring a few selected with oil and auto stocks trading mixed. The markets may remain volatile today ahead of April derivative series expiry tomorrow and readers are therefore advised to trade with caution.
NIFTY FUTURE (Last close 3466.15)
NF ended flat yesterday with marginal loss over its previous close on intermittent bouts of buying and selling. The counter saw high volatility with intra day swing of 100 points. NF took support yesterday at its short term weekly level and bounced back by 100 points but retraced on profit taking to close lower. The counter today may get upward momentum once it trades and remains above 3498.75, whereby it may move up to 3524/3547. Strong support for NF exists at 3415.25, which if breached decisively NF may slide to 3397/3378.
RELIANCE FUTURE (Last close 1779.95)
The stock is moving range bound for the past three trading sessions with positive bias. The stock closed flat yesterday with marginal loss. The stock remains positive on weekly charts and may move up to 1798/1818 once it trades and remains above 1785.75. Strong support for the stock exits at 1766.25.
UNITED SPIRITS FUTURE (Last close 736.90)
The stock after moving range bound during the past one week closed yesterday above its weekly buy signal with high volumes. The stock appears positive on weekly charts and may move up to 755/769 once it trades and remains above 741.75. Strong support for the stock exists at 729.25.
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.
.
TRADING STRATEGY FOR 28TH APRIL 2009
(Based on technical by O P AGARWAL)
Markets close flat with cautious optimism
Markets opened gap down yesterday taking cues from the weak Asian bourses following the outbreak of swine flu in North America. However, markets soon recovered from their lows on the back of short covering ahead of April derivative series expiry on Wednesday. Impressive Q4 results of few frontline companies further aided the sentiment and the Sensex moved in to the positive territory However, profit taking at higher levels pulled the market down once again and finally the Sensex closed the day with marginal gain of 42 points at 11371 after making a high of 11492 and a low of 11176 during the session. The Nifty, after touching a high of 3517 and a low of 3435 in morning trade finally closed the day at 3470 with marginal loss of 10 points. The markets showed a mixed trend yesterday with FMCG, realty and power sector stocks declining barring a few selected with oil and auto stocks trading mixed. The markets may remain volatile today ahead of April derivative series expiry tomorrow and readers are therefore advised to trade with caution.
NIFTY FUTURE (Last close 3466.15)
NF ended flat yesterday with marginal loss over its previous close on intermittent bouts of buying and selling. The counter saw high volatility with intra day swing of 100 points. NF took support yesterday at its short term weekly level and bounced back by 100 points but retraced on profit taking to close lower. The counter today may get upward momentum once it trades and remains above 3498.75, whereby it may move up to 3524/3547. Strong support for NF exists at 3415.25, which if breached decisively NF may slide to 3397/3378.
RELIANCE FUTURE (Last close 1779.95)
The stock is moving range bound for the past three trading sessions with positive bias. The stock closed flat yesterday with marginal loss. The stock remains positive on weekly charts and may move up to 1798/1818 once it trades and remains above 1785.75. Strong support for the stock exits at 1766.25.
UNITED SPIRITS FUTURE (Last close 736.90)
The stock after moving range bound during the past one week closed yesterday above its weekly buy signal with high volumes. The stock appears positive on weekly charts and may move up to 755/769 once it trades and remains above 741.75. Strong support for the stock exists at 729.25.
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.
.
Trading strategy for 29th April 2009
TRADING STRATEGY FOR 29TH APRIL 2009
(Based on technical by O P AGARWAL)
Market plummets on large scale sell off
Markets remained in the red through out the session yesterday except for a brief period on selective buying in front line stocks. Weak Asian and European markets together with outbreak of deadly swine flu weighed heavily on the market sentiment. The market remained choppy as market participants were busy in rolling over current positions to the next month. The market recovery from lower levels in afternoon trades proved short lived and markets again slipped into the red. As per reports, rollover of Nifty positions from April 2009 series to May 2009 series stood at 53% while those of stock futures were 42%. Market pundits attribute yesterdays sell off on reports that stress tests conducted by the U S regulators have told Citigroup and Bank of America Corp that they may need to raise more capital. The Sensex dipped to a low of 10961 yesterday on the back of across the board selling in stocks. The Sensex finally closed at 11001 losing a massive 370 points. The Nifty too lost a whopping 107 points and closed at 3362, a few points off the days low of 3351. Markets may remain highly volatile today in view of April F & O derivative series expiry today, and therefore, readers are advised to trade with caution.
NIFTY FUTURE (Last close 3354.95)
NF closed the session yesterday with a massive loss of 111 points slipping below its 200 DMA with narrow margin. The counter remained highly volatile and subdued through out the session witnessing heavy selling at higher levels on the back of weak global cues on reports of outbreak of deadly swine flu. The current series expires today and as per reports, roll over of Nifty futures to the next month is around 53%. NF today may remain in the range of 3319-3392, break above NF may move to 3411/3447 or else break below it may slip to 3297/3262.
SRF FUTURE (Last close 82.30)
The company is a major producer of various refrigerant gases and tyre cord. The companys net profit rose 9.33% to Rs 37.48 crore in the quarter ended December 2008 as against Rs 34.28 crore during the previous quarter ended December 2007. Meantime, the UN climate change body has approved an emission reduction project by the company that will fetch 1.78 milliion carbon credits to the company, thereby substantially boosting the bottom line. Meantime, the stock after remaining sideways closed flat yesterday with positive bias. The stock may move up to 87/91 once it trades and remains above 83.25. Strong support for the stock exists at 80.50.
BEL FUTURE (Last close 934.60)
The company is engaged in designing, developing and manufacturing state-of- the-art products in the field of radars, defense communications, telecommunications, sound and vision broadcasting, opto electronics, solar systems, IT products and electronic components. The government of India holds 75.86% stake in the company. The stock closed flat yesterday with marginal gain on good volumes. The stock appears positive on weekly charts and may move up to 949/963 once it trades and remains above 937.75. Strong support for the stock exists at 927.25.
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.
TRADING STRATEGY FOR 29TH APRIL 2009
(Based on technical by O P AGARWAL)
Market plummets on large scale sell off
Markets remained in the red through out the session yesterday except for a brief period on selective buying in front line stocks. Weak Asian and European markets together with outbreak of deadly swine flu weighed heavily on the market sentiment. The market remained choppy as market participants were busy in rolling over current positions to the next month. The market recovery from lower levels in afternoon trades proved short lived and markets again slipped into the red. As per reports, rollover of Nifty positions from April 2009 series to May 2009 series stood at 53% while those of stock futures were 42%. Market pundits attribute yesterdays sell off on reports that stress tests conducted by the U S regulators have told Citigroup and Bank of America Corp that they may need to raise more capital. The Sensex dipped to a low of 10961 yesterday on the back of across the board selling in stocks. The Sensex finally closed at 11001 losing a massive 370 points. The Nifty too lost a whopping 107 points and closed at 3362, a few points off the days low of 3351. Markets may remain highly volatile today in view of April F & O derivative series expiry today, and therefore, readers are advised to trade with caution.
NIFTY FUTURE (Last close 3354.95)
NF closed the session yesterday with a massive loss of 111 points slipping below its 200 DMA with narrow margin. The counter remained highly volatile and subdued through out the session witnessing heavy selling at higher levels on the back of weak global cues on reports of outbreak of deadly swine flu. The current series expires today and as per reports, roll over of Nifty futures to the next month is around 53%. NF today may remain in the range of 3319-3392, break above NF may move to 3411/3447 or else break below it may slip to 3297/3262.
SRF FUTURE (Last close 82.30)
The company is a major producer of various refrigerant gases and tyre cord. The companys net profit rose 9.33% to Rs 37.48 crore in the quarter ended December 2008 as against Rs 34.28 crore during the previous quarter ended December 2007. Meantime, the UN climate change body has approved an emission reduction project by the company that will fetch 1.78 milliion carbon credits to the company, thereby substantially boosting the bottom line. Meantime, the stock after remaining sideways closed flat yesterday with positive bias. The stock may move up to 87/91 once it trades and remains above 83.25. Strong support for the stock exists at 80.50.
BEL FUTURE (Last close 934.60)
The company is engaged in designing, developing and manufacturing state-of- the-art products in the field of radars, defense communications, telecommunications, sound and vision broadcasting, opto electronics, solar systems, IT products and electronic components. The government of India holds 75.86% stake in the company. The stock closed flat yesterday with marginal gain on good volumes. The stock appears positive on weekly charts and may move up to 949/963 once it trades and remains above 937.75. Strong support for the stock exists at 927.25.
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.
Trading strategy for 4th May 2009
TRADING STRATEGY FOR 4TH MAY 2009
(Based on technical by O P AGARWAL)
Markets close the week flat amid high volatility
Markets closed the week flat with the Sensex closing with marginal gain of 74 points at 11403 while the Nifty closed with a small loss of 6 points. The market had fared very poorly on Tuesday last with the Sensex losing around 370 points but a sharp recovery on Wednesday pared all the losses aiding the markets to close positive for the eighth successive week since markets remained closed on Thursday and Friday. The market sentiment appears to be positive on the forecast of normal monsoon, modest inflow of FII money during the past week. Market rollover of Nifty future being substantially higher the new F & O May 09 derivative series which opens today may remain in the positive in line with the global cues. However, with the general elections under way and poll estimates pointing towards a fractured mandate, the markets may be significantly impacted by any signs of instability of the new government. Meantime, readers are therefore, advised to trade with caution keeping in mind the poll forecast and high volatility in the market.
NIFTY FUTURE (Last close 3483.10)
The counter closed flat last week with marginal loss over its previous close amid high volatility and intra week swing of more than 175 points. The new F & O May series which opens today may remain this week in the range of 3385-3597, break above it may move up to 3631/3679, or else break below it may slip to 3350/3301.For todays trading NF may gain strength once it trades and remains above 3504.75, whereby it may move up to 3535/3567. Strong support for NF exists at 3437.25, which if breached decisively NF may slip to 3424/3403.
DIVIS LAB FUTURE (Last close 858.10)
The company is engaged in research and development of pharmaceuticals. The company is the largest manufacturer of some peptide reagents and protected amino acids worldwide. The stock of the company closed the previous week lower with average volumes but appears positive on daily charts. The stock may move up to 886/904 once it trades and remains above 866.75. Strong support for the stock exists at 850.25.
HCL TECH FUTURE (Last close 130.60)
The company is a global technology and software services company offering software services, business process outsourcing services and infrastructure management services. The company has recently signed new deals with world renowned entities thus assuring uninterrupted work for the company. The stock lost investors interest after it announced dismal Q4 results. However, the stock after moving range bound for the past three trading sessions closed with positive bias on the previous trading session and appears positive on charts. The stock may move up to 136/141 once it trades and remains above 132.00. Strong support for the stock exists at 128.25.
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.
TRADING STRATEGY FOR 4TH MAY 2009
(Based on technical by O P AGARWAL)
Markets close the week flat amid high volatility
Markets closed the week flat with the Sensex closing with marginal gain of 74 points at 11403 while the Nifty closed with a small loss of 6 points. The market had fared very poorly on Tuesday last with the Sensex losing around 370 points but a sharp recovery on Wednesday pared all the losses aiding the markets to close positive for the eighth successive week since markets remained closed on Thursday and Friday. The market sentiment appears to be positive on the forecast of normal monsoon, modest inflow of FII money during the past week. Market rollover of Nifty future being substantially higher the new F & O May 09 derivative series which opens today may remain in the positive in line with the global cues. However, with the general elections under way and poll estimates pointing towards a fractured mandate, the markets may be significantly impacted by any signs of instability of the new government. Meantime, readers are therefore, advised to trade with caution keeping in mind the poll forecast and high volatility in the market.
NIFTY FUTURE (Last close 3483.10)
The counter closed flat last week with marginal loss over its previous close amid high volatility and intra week swing of more than 175 points. The new F & O May series which opens today may remain this week in the range of 3385-3597, break above it may move up to 3631/3679, or else break below it may slip to 3350/3301.For todays trading NF may gain strength once it trades and remains above 3504.75, whereby it may move up to 3535/3567. Strong support for NF exists at 3437.25, which if breached decisively NF may slip to 3424/3403.
DIVIS LAB FUTURE (Last close 858.10)
The company is engaged in research and development of pharmaceuticals. The company is the largest manufacturer of some peptide reagents and protected amino acids worldwide. The stock of the company closed the previous week lower with average volumes but appears positive on daily charts. The stock may move up to 886/904 once it trades and remains above 866.75. Strong support for the stock exists at 850.25.
HCL TECH FUTURE (Last close 130.60)
The company is a global technology and software services company offering software services, business process outsourcing services and infrastructure management services. The company has recently signed new deals with world renowned entities thus assuring uninterrupted work for the company. The stock lost investors interest after it announced dismal Q4 results. However, the stock after moving range bound for the past three trading sessions closed with positive bias on the previous trading session and appears positive on charts. The stock may move up to 136/141 once it trades and remains above 132.00. Strong support for the stock exists at 128.25.
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.
Trading strategy for 5th May 2009
TRADING STRATEGY FOR 5TH MAY 2009
(Based on technical by O P AGARWAL)
Stock rally accelerates
Markets opened gap up yesterday with the Sensex higher by 232 points at 11635 on the back of strong Asian markets and positive global cues. Metal, IT, and bank stocks were in great demand throughout the session. FMCG, cement, infrastructure and PSU stocks too moved up sharply. The Sensex finally closed the day with a massive gain of 731 points at 12134 and the Nifty after rallying to a high of 3664 in late afternoon trades closed at 3654 gaining 180 points. Market participants appear to be betting on hopes that the global economy would soon be back on track as is evident with positive outlook during the course of past one week. The markets have crossed several of its resistances in a very short time span which makes one to believe whether the rally will be sustainable? The readers are therefore, advised to trade with caution and remain stock specific.
NIFTY FUTURE (Last close 3658.35)
The counter closed the session yesterday with a bang with NF gaining steadily a whopping 184 points on the back of strong Asian markets and positive cues from the European and the U S markets. The counter achieved with ease its weekly levels as were indicated in these columns yesterday and closed near the days high with high volumes. The counter to gain further strength needs to remain and trade above 3681.75 whereby it my move up to 3701/3733. Strong support for NF exists at 3612.25 which if breached decisively it may slide to 3589/3564.
ESCORTS FUTURE (Last close 43.45)
The company is engaged in manufacturing agri-machinery, telecommunications, healthcare, construction and material handling equipment, automotive and railway ancillaries. It also provides information technology and financial services. Meanwhile, the stock after moving range bound during the past one week surged past its weekly resistance yesterday with good volumes. The stock appears positive on weekly charts and may move further to 47/51 once it trades and remains above 44.25. Strong support for the stock exists at 41.75.
IRB INFRASTUCTURE FUTURE (Last close 98.60)
The company, which primarily works on road projects, plans to focus on road projects in western India and is also diversifying into real estate to augment its revenue. The company foresees a very good prospect in the near future with the Government emphasis on infrastructure projects. Meantime, the stock of the company after remaining range bound during the past one week gained around four percent yesterday. The stock appears positive on daily charts and may move up to 103/107 once it trades and remains above 99.25. Strong support for the stock exists at 97.25.
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.
TRADING STRATEGY FOR 5TH MAY 2009
(Based on technical by O P AGARWAL)
Stock rally accelerates
Markets opened gap up yesterday with the Sensex higher by 232 points at 11635 on the back of strong Asian markets and positive global cues. Metal, IT, and bank stocks were in great demand throughout the session. FMCG, cement, infrastructure and PSU stocks too moved up sharply. The Sensex finally closed the day with a massive gain of 731 points at 12134 and the Nifty after rallying to a high of 3664 in late afternoon trades closed at 3654 gaining 180 points. Market participants appear to be betting on hopes that the global economy would soon be back on track as is evident with positive outlook during the course of past one week. The markets have crossed several of its resistances in a very short time span which makes one to believe whether the rally will be sustainable? The readers are therefore, advised to trade with caution and remain stock specific.
NIFTY FUTURE (Last close 3658.35)
The counter closed the session yesterday with a bang with NF gaining steadily a whopping 184 points on the back of strong Asian markets and positive cues from the European and the U S markets. The counter achieved with ease its weekly levels as were indicated in these columns yesterday and closed near the days high with high volumes. The counter to gain further strength needs to remain and trade above 3681.75 whereby it my move up to 3701/3733. Strong support for NF exists at 3612.25 which if breached decisively it may slide to 3589/3564.
ESCORTS FUTURE (Last close 43.45)
The company is engaged in manufacturing agri-machinery, telecommunications, healthcare, construction and material handling equipment, automotive and railway ancillaries. It also provides information technology and financial services. Meanwhile, the stock after moving range bound during the past one week surged past its weekly resistance yesterday with good volumes. The stock appears positive on weekly charts and may move further to 47/51 once it trades and remains above 44.25. Strong support for the stock exists at 41.75.
IRB INFRASTUCTURE FUTURE (Last close 98.60)
The company, which primarily works on road projects, plans to focus on road projects in western India and is also diversifying into real estate to augment its revenue. The company foresees a very good prospect in the near future with the Government emphasis on infrastructure projects. Meantime, the stock of the company after remaining range bound during the past one week gained around four percent yesterday. The stock appears positive on daily charts and may move up to 103/107 once it trades and remains above 99.25. Strong support for the stock exists at 97.25.
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.
Trading strategy ffor 6th May 2009
TRADING STRATEGY FOR 6TH MAY 2009
(Based on technical by O P AGARWAL)
Markets take a breather
The market opened weak yesterday in the absence of any positive trigger and flat to mixed global cues. Market participants preferred to book profits rather than building fresh positions. However, markets despite a rebound around early noon remained choppy right through out the session due to lack of interest by the investors. Further, stocks from realty, banking, capital goods, metal, sugar etc., made sharp gains during the day while stocks from IT, Oil, FMCG and auto sector suffered. The Sensex, which touched a low of 11,985 and a high of 12197 in intra-day trades, closed the day at 12,131, losing marginally over its previous close. The Nifty which made a low of 3618 and a high of 3682 in intra -day trades finally closed the session with a marginal gain of seven points at 3661. The market breadth was strong as on BSE, 1615 shares rose as compared with 933 that declined. A total of 99 shares remained unchanged. Meantime, readers are advised to trade with caution and avoid making large positions.
NIFTY FUTURE (Last close 3665.20)
The counter after opening flat yesterday moved range bound through out the session and finally ended with a marginal gain over its previous close. The counter appears positive but will gain further strength once it trades and remains above 3701.75 whereby it may move up to 3723/3746. Strong support for NF exists at 3616.25 which if breached decisively it may slip to 3598/3576.
TITAN FUTURE (Last close 796.65)
The TATA Group enterprise engaged in retail of watches, jewellery and eyewear business has a network of more than 480 stores generating a turnover of more than 3300 crore annually. The Net profit for the year stood at Rs158.96 crore as compared to Rs150.27 crore in the previous year despite slowdown in several sectors. After considering the excellent performance of the company, the directors have recently recommended a dividend of 80 per cent and a special silver jubilee additional dividend of 20 per cent making a total dividend of 100 per cent. Meantime, the stock of the company closed yesterday above its weekly resistance with marginal gain. The stock appears positive on charts and may move further to 814/827 once it trades and remains above 803.75. Strong support for the stock exists at 789.25.
INDIA BULLS REAL ESTATE FUTURE (Last close 140.85)
The company is engaged in real estate and infrastructure business having development projects spread across residential projects, commercial offices, hotels, malls, and Special Economic Zones. The companys Board took a decision recently to raise US$600 million through a private placement to augment the capital requirement. Meantime, the stock of the company closed yesterday above its weekly resistance with high volumes gaining over 5%. The stock appears positive on charts and may move further to 146/149 once it trades and remains above 141.75. Strong support for the stock exists at 137.25.
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.
TRADING STRATEGY FOR 6TH MAY 2009
(Based on technical by O P AGARWAL)
Markets take a breather
The market opened weak yesterday in the absence of any positive trigger and flat to mixed global cues. Market participants preferred to book profits rather than building fresh positions. However, markets despite a rebound around early noon remained choppy right through out the session due to lack of interest by the investors. Further, stocks from realty, banking, capital goods, metal, sugar etc., made sharp gains during the day while stocks from IT, Oil, FMCG and auto sector suffered. The Sensex, which touched a low of 11,985 and a high of 12197 in intra-day trades, closed the day at 12,131, losing marginally over its previous close. The Nifty which made a low of 3618 and a high of 3682 in intra -day trades finally closed the session with a marginal gain of seven points at 3661. The market breadth was strong as on BSE, 1615 shares rose as compared with 933 that declined. A total of 99 shares remained unchanged. Meantime, readers are advised to trade with caution and avoid making large positions.
NIFTY FUTURE (Last close 3665.20)
The counter after opening flat yesterday moved range bound through out the session and finally ended with a marginal gain over its previous close. The counter appears positive but will gain further strength once it trades and remains above 3701.75 whereby it may move up to 3723/3746. Strong support for NF exists at 3616.25 which if breached decisively it may slip to 3598/3576.
TITAN FUTURE (Last close 796.65)
The TATA Group enterprise engaged in retail of watches, jewellery and eyewear business has a network of more than 480 stores generating a turnover of more than 3300 crore annually. The Net profit for the year stood at Rs158.96 crore as compared to Rs150.27 crore in the previous year despite slowdown in several sectors. After considering the excellent performance of the company, the directors have recently recommended a dividend of 80 per cent and a special silver jubilee additional dividend of 20 per cent making a total dividend of 100 per cent. Meantime, the stock of the company closed yesterday above its weekly resistance with marginal gain. The stock appears positive on charts and may move further to 814/827 once it trades and remains above 803.75. Strong support for the stock exists at 789.25.
INDIA BULLS REAL ESTATE FUTURE (Last close 140.85)
The company is engaged in real estate and infrastructure business having development projects spread across residential projects, commercial offices, hotels, malls, and Special Economic Zones. The companys Board took a decision recently to raise US$600 million through a private placement to augment the capital requirement. Meantime, the stock of the company closed yesterday above its weekly resistance with high volumes gaining over 5%. The stock appears positive on charts and may move further to 146/149 once it trades and remains above 141.75. Strong support for the stock exists at 137.25.
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.
Trading strategy for 7th May 2009
TRADING STRATEGY FOR 7TH May 2009
(Based on technical by O P AGARWAL)
Markets extend losses on profit taking
Markets opened flat yesterday despite mixed to positive global cues but a sharp rally on the back of some strong buying in power, oil, and capital goods led by the Reliance Group stocks around early noon turned the market sentiment highly positive taking the Sensex to days high at 12272. However, the rally proved short lived and fizzled out in late hour sell off which pushed the market in the red with the Sensex dipping to a low of 11899. Market participants remained wary of building fresh positions ahead of release of results of the stress tests the U.S. bank majors were subjected to by their regulators. Meanwhile, U S Stocks surged yesterday, with financial issues leading the way, after reports about the government's "stress tests" suggested that the major banks are better capitalized than some had thought. The positive announcement is seen a big relief for the economy and for the banking sector in particular. Back home, The Sensex finally closed at 11,952, losing 178 points whereas the Nifty closed 36.85 points or 1.01% down at 3625 after making a high of 3717 and a low of 3608 in intra day trades. Readers are advised to trade with caution with strict stops for every trade in view of high volatility seen in the markets.
NIFTY FUTURE (Last close 3631.65)
The counter after opening flat yesterday lost 33 points amid high volatility and intra day swing of more than 100 points. The counter surged to a high of 3728 in intra day trades but a late hour sell off pulled the NF to a low of 3615, absolutely near to the strong support level indicated in these columns yesterday. NF thereafter retraced and closed a bit higher off days low. The counter appears to be positive on charts and may move up to 3698/3723 once it trades and remains above 3669.75. Strong support for NF exists at 3593.25, which if breached decisively NF may slide to 3576/3547.
HDFC BANK FUTURE (Last close 1175.45)
The private sector banking stock closed marginally lower yesterday on selling pressure witnessed in financial/banking sector stocks. The stock appears and remains positive on weekly charts. The stock may move up to 1194/1209 once it trades and remains above 1183.75. Strong support for the stock exists at 1166.75.
ZEE ENTERTAINMENT FUTURE (Last close 121.60)
The company runs and operates channels Zee TV, Zee Cafe and Zee Cinema among others. Zee TV is positioned as No. 3 player among its competitors. Revenues of the company got impacted with increased competition in the industry during the second half of F Y 2009, which may see a sharp recovery with the current turn around in the economy. Meanwhile, the stock after remaining range bound during the past two trading sessions closed three percent higher yesterday with good volumes. The stock appears to be consolidating at the current levels and may spurt to 125/129 once it trades and remains above 122.25. Strong support for the stock exists at 118.75.
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.
TRADING STRATEGY FOR 7TH May 2009
(Based on technical by O P AGARWAL)
Markets extend losses on profit taking
Markets opened flat yesterday despite mixed to positive global cues but a sharp rally on the back of some strong buying in power, oil, and capital goods led by the Reliance Group stocks around early noon turned the market sentiment highly positive taking the Sensex to days high at 12272. However, the rally proved short lived and fizzled out in late hour sell off which pushed the market in the red with the Sensex dipping to a low of 11899. Market participants remained wary of building fresh positions ahead of release of results of the stress tests the U.S. bank majors were subjected to by their regulators. Meanwhile, U S Stocks surged yesterday, with financial issues leading the way, after reports about the government's "stress tests" suggested that the major banks are better capitalized than some had thought. The positive announcement is seen a big relief for the economy and for the banking sector in particular. Back home, The Sensex finally closed at 11,952, losing 178 points whereas the Nifty closed 36.85 points or 1.01% down at 3625 after making a high of 3717 and a low of 3608 in intra day trades. Readers are advised to trade with caution with strict stops for every trade in view of high volatility seen in the markets.
NIFTY FUTURE (Last close 3631.65)
The counter after opening flat yesterday lost 33 points amid high volatility and intra day swing of more than 100 points. The counter surged to a high of 3728 in intra day trades but a late hour sell off pulled the NF to a low of 3615, absolutely near to the strong support level indicated in these columns yesterday. NF thereafter retraced and closed a bit higher off days low. The counter appears to be positive on charts and may move up to 3698/3723 once it trades and remains above 3669.75. Strong support for NF exists at 3593.25, which if breached decisively NF may slide to 3576/3547.
HDFC BANK FUTURE (Last close 1175.45)
The private sector banking stock closed marginally lower yesterday on selling pressure witnessed in financial/banking sector stocks. The stock appears and remains positive on weekly charts. The stock may move up to 1194/1209 once it trades and remains above 1183.75. Strong support for the stock exists at 1166.75.
ZEE ENTERTAINMENT FUTURE (Last close 121.60)
The company runs and operates channels Zee TV, Zee Cafe and Zee Cinema among others. Zee TV is positioned as No. 3 player among its competitors. Revenues of the company got impacted with increased competition in the industry during the second half of F Y 2009, which may see a sharp recovery with the current turn around in the economy. Meanwhile, the stock after remaining range bound during the past two trading sessions closed three percent higher yesterday with good volumes. The stock appears to be consolidating at the current levels and may spurt to 125/129 once it trades and remains above 122.25. Strong support for the stock exists at 118.75.
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.
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