Daily Trading strategy

[opagarwal]

Trading strategy for 21st May 2009

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


Markets take a breather


The market after opening weak yesterday soon bounced back to positive territory but sustained profit booking at higher levels in index heavy weight stocks pulled the market down once again. Market volatility was high with the Sensex gyrating more than 400 points, it touched a high of 14,405 and a low of 13,976 yesterday and finally closed losing a massive 241 points at 14060. The Nifty closed lower by 48 points at 4270 moving in the range of 4244 and 4362 yesterday. Meantime, the prime minister in a statement assured that his coalition would pursue reforms in agriculture, industry and the wider economy to push growth and make it even more inclusive. Market participants are hopeful that with the installation of new government at the centre tomorrow, the pace of reforms will be speeded up. It is further hoped that major concessions may be given in the budget which may be presented next month.

NIFTY FUTURE (Last close 4290.05)
The counter after gap down opening yesterday bounced back within minutes in to positive territory but sustained profit taking at higher levels in index heavy weight stocks pulled down the same into red. The counter moved range bound thereafter but dipped to a low of 4260, absolutely near the support level indicated in these columns yesterday and retraced. NF finally closed the session yesterday losing 52 points. The counter may gain strength once it trades and remains above 4331.75, whereby it may move up to 4359/4384. Strong support for NF exists at 4248.25, which if breached decisively NF may slip to 4222/4192.

GUJARAT STATE PETRONET FUTURE (Last close 55.10)
The company connects various supply sources and users of natural gas in Gujarat through gas pipeline network. It involves transportation of natural gas from sources of supply to the end customers. The stock of the company after remaining range bound during the past three sessions closed yesterday above its short term trend. The stock appears positive on weekly charts and may move further to 58/61 once it trades and remains above 55.50. Strong support for the stock exists at 53.25.

RNRL FUTURE (Last close 74.55)
The company is engaged in the business of sourcing, supply and transportation of gas, coal and liquid fuels. The company is concentrating on building a strong foundation for the business of fuel management and has already established itself as a contending player in the Indian market. The company is actively pursuing business opportunities in the supply management of coal and natural gas. The stock after remaining range bound during the past three trading sessions closed yesterday way above its weekly resistance with high volumes. The stock may further move to 79/82 once it trades 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



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 May 2009

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


Markets close weak on profit taking


Market opened gap down yesterday on the back of weak global cues and remained subdued through out the session except around mid noon when a rebound was noticed which too could not sustain under selling pressure and the Sensex finally closed the day amid high volatility at 13736 losing a massive 324 points making a low of 13704 and a high of 14089 during the day. The Nifty too lost 59 points and ended the session at 4210 after making a low of 4199 and a high of 4319. Stocks from banking, capital goods, auto and FMCG were the big losers while oil and selected IT shares remained firm. Market participants will be keenly watching the new incumbent for the finance and commerce ministries. Meantime, in view of market volatility, readers are advised to trade with caution and avoid taking large positions.


NIFTY FUTURE (Last close 4219.95)
The counter after gap down opening yesterday remained under pressure through out the session except at mid noon when it rebounded to a high of 4328 but could not cross the resistance level of 4331 indicated in these columns yesterday and slipped back. The counter finally closed the day losing 70 points amid high volatility and intra day swing of more than 120 points. The counter is witnessing profit booking at higher levels and may slip further to 4167/4134 once it trades and remains below 4196.25. Strong resistance for NF exists at 4263.75, which if crossed decisively it may move up to 4282/4309.


JINDAL SAW FUTURE (Last close 362.05)
The stock of the company may remain under pressure amid multiple concerns one among slowing order flow impacting significantly companys future revenues. As per reports, the company has outstanding derivative contracts, where the bankers have estimated MTM loss from all outstanding contracts at approximately $103 million, but the same has been neither charged to the Profit & Loss Account nor considered in the Balance Sheet. The gain or loss on the same is being accounted on settlement, which is different from the standard accounting practices and may weigh on the stocks valuations. Meantime, the stock has surged a hefty 80% during this month from a low of 218 to a high of 393. However, the stock is moving range bound during the past three trading session but is not able to sustain at higher levels and may therefore, witness profit booking which may take the stock down to 349/343 once it trades and remains below 356.25. Strong resistance for the stock exists at 369.75.


TITAN FUTURE (Last close 1076.25)
The company has decided to close down its two branded jewellery stores, Tanishq, in the US which had resulted in a charge of Rs 29.02 crore to the profit and loss account of Titan, according to the announcement made on BSE last week. The company is planning to cut costs on several counts to survive in these challenging times. Meantime, the stock of the company has surged a whopping 60% during the past 14 trading sessions from a low of 719 on 28th April 09 to a high of 1149 made yesterday. The stock may witness profit taking at current market price and may slip to 1053/1034 once it trades and remains below 1069.25. Strong resistance for the stock exists at 1085.75.



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 25th May 2009

TRADING STRATEGY FOR 25TH MAY 2009
(Based on technical by O P AGARWAL)

Markets appear buoyant ahead of F & O expiry

The previous week had a brilliant start with the Sensex making history by surging a record 2000 points forcing the market regulator to halt trading for the day following the Congress-led UPA front winning a strong mandate in general elections 2009. The sentiment remained buoyant throughout the week except some profit booking seen in between. While the Sensex shot up by 1,713 points or over 14% to 13,887, the Nifty rose 566 points or 15.44% to 4238.50. Markets are expected to remain firm this week, following positive global cues and optimism that the new government will accelerate economic reforms. Further, investors are relieved that key portfolios have been allocated to old hands. However, readers are cautioned that with the F & O expiry this Thursday, markets may witness high volatility and hence, one needs to trade with caution with strict stops.


NIFTY FUTURE (Last close 4252.75)
The counter after huge gap up opening last Monday following the Congress-led UPA win closed the week with a massive gain of 567 points making a high of 4620 and a low of 4052.The counter witnessed profit booking at higher levels during the week but market sentiment remains upbeat. NF may oscillate between 4143-4412 this week, break above NF may move up to 4531/4619 or else break below NF may slip to 4078/4010. For todays trading the counter will gain strength once it trades and remains above 4302.75 whereby it may move up to 4339/4361. Strong support for NF exists at 4197.25 which if breached decisively NF may slide to 4163/4141.


TATA POWER FUTURE (Last close 1046.65)
The Company generates and supplies electricity in Mumbai and its suburbs. The company also constructs and operates independent power plants as well as captive power plants for industrial concerns and also provides various services related to electricity distribution, erection and commissioning of transmission lines. The company recently commissioned 1x120 MW - power house 6 at Jamshedpur for Tata Steel. The board meeting of the Company will be held on 28 May 2009 to consider the final accounts and recommendation of dividend (if any) for the year ended 31 March 2009. Meantime, the stock in line with the euphoria in the market surged around 14% during the last week. The stock still appears positive on charts and may move up to 1062/1069 once it trades and remains above 1053.75. Strong support for the stock exists at 1043.25.


INFOSYS FUTURE (Last close 1527.25)
The company is India's second largest software outsourcer by sales which provides information technology services to a host of enterprises worldwide. The stock of the company suffered during the past week owing to sharp appreciation of Rupee against US dollar since the company gets most of their revenue in dollars and every 1% rupee movement against the dollar impacts operating margins by 40 to 50 basis points. Further, the company is reported to be eyeing an acquisition of about $200-$300 million in the healthcare or lifestyle segment to augment its presence in the sector. Meantime, the stock closed on Friday with marginal gain and appears to be consolidating at current levels. The stock may move further up to 1549/1562 once it trades and remains above 1536.75. Strong support for the stock exists at 1523.25.



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 26th May 2009

TRADING STRATEGY FOR 26TH MAY 2009
(Based on technical by O P AGARWAL)


Markets close flat amid choppy trade


Markets opened with positive gap yesterday but soon pared all its initial gains and turned negative. However, markets managed to recover around mid noon and moved range bound in a choppy trade thereafter. However, markets could not sustain at higher levels since investors remained wary of holding positions ahead of F & O expiry on Thursday. The Sensex finally closed the session with marginal gain of 26 points at 13913 while the Nifty closed flat at 4237. The market breadth however, remained quite strong right through the session. On BSE, 2470 stocks ended with gains while 316 stocks declined and 30 stocks ended flat. Readers are advised to trade with caution in view of high volatility in the markets ahead of derivative expiry.


NIFTY FUTURE (Last close 4241.80)
The counter closed flat yesterday with marginal loss amid moderate volatility. NF appears to be consolidating at current levels waiting for some fresh trigger. Market participants remained busy rolling over positions to new series. However, the counter to gain strength needs to trade and remain above 4279.75, whereby NF may move up to 4319/4356. Short term support for NF exists at 4216.25 which if breached decisively NF may slide to 4191/4163.


TATA COMMUNICATIONS FUTURE (Last close 585.90)
The stock after remaining range bound during the past two sessions closed flat yesterday with high volumes. The stock remains positive on weekly charts and may move up to 596/604 once it trades and remains above 589.25. Strong support for the stock exists at 579.25.


TATA MOTORS (Last close 346.35)
The stock after remaining range bound during the past two sessions closed flat yesterday with positive bias. The stock appears positive on weekly charts. The stock may move up to 352/357 once it trades and remains above 347.75. Strong support for the stock exists at 339.25.



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 27th May 2009

TRADING STRATEGY FOR 27TH MAY 2009
(Based on technical by O P AGARWAL)


Markets witness heavy profit booking


Markets opened flat yesterday and remained range bound till noon when heavy selling in index heavy weight stocks pulled down the indices sharply lower. Market participants opined that a correction appeared due as the markets had huge run up after the election results. Profit booking was seen across the sectors in telecom, power, oil & gas, banking, realty, metal and capital goods while select IT stocks witnessed buying interest owing to strong dollar. The Sensex dipped below 13600 while the Nifty slipped below 4100 under heavy selling pressure ahead of F & O expiry tomorrow. The Nifty touched an intraday low of 4092, before closing at 4116, down 2.85% or 120 points. The Sensex shed 323 points or 2.33%, to close at 13,589. A section of investors are of the opinion that nothing much has changed during the previous quarter which justify such huge spike in the market except the sentiment and expectation that the new government will speed up the economic reforms. Markets today may however, take cues from the positive global markets and see a pull back on short covering.


NIFTY FUTURE (Last close 4114.25)
The counter after opening flat yesterday remained subdued till early noon when a spate of selling in frontline stocks pulled down NF to its days low at 4090. NF finally ended with a loss of 127 points over its previous close. The counter however, may witness pull back on positive global cues and short covering ahead of F & O expiry tomorrow. NF will gain strength once it trades and remains above 4147.75 whereby it may move up to 4189/4226. Strong short term support for NF exists at 4078.25 which if breached decisively it may slide to 4046/4019.


TATA TEA FUTURE (Last close 697.70)
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 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, 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. The company will declare its 2008-09 results before 30th June 09. 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 during the past four trading sessions closed flat yesterday with high volumes. The stock appears positive on weekly charts and may move up to 709/719 once it trades and remains above 699.75. Strong support for the stock exists at 687.25.


HINDALCO FUTURE (Last close 80.25)
The company is an integrated aluminum manufacturer which mines bauxite and refines it into alumina. The company's other operations include the smelting of alumina into aluminum, the manufacture of semi-fabricated rolled and extruded products. The company's products include aluminum ingots, steel rods and rolled flat steel products. The company has suffered during 2008 owing to global economic meltdown but hopes to do better in F Y 2009-10 with the recovery seen in the world markets. Meantime, the stock after remaining range bound since last week closed yesterday with high volumes above its weekly resistance gaining 4% over its previous close. The stock appears positive on weekly charts and may move up to 83/86 once it trades and remains above 80.75. Strong support for the stock exists at 78.25.



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 28th May 2009

TRADING STRATEGY FOR 28TH MAY 2009
(Based on technical by O P AGARWAL)


Markets zoom on strong global cues


Markets opened gap up yesterday on strong global cues and remained steady through out the session except instances of profit taking in early afternoon trades. Speculation about reports that the government is considering a proposal to do away with fringe benefit tax also aided the rally to hold on. Meantime, FM in a statement said that a sustained stimulus to economic growth is possible by next round of reforms. He further said reviving growth momentum is a top priority for the government adding that fiscal prudence will also be kept in mind. Meantime, in view of F & O expiry today, markets may witness high volatility. Further, Nifty rollover is reported to be around 48% from May 2009 to June 2009 series. Markets may look towards global cues to sustain momentum further. And finally the Sensex, which had opened gap up of nearly 200 points yesterday surged to 14,122 in late afternoon trade and ended the session at 14,109 with an impressive gain of 520 points. The Nifty ended 159 points up at 4276, a few points down from the day's high of 4286.


NIFTY FUTURE (Last close 4284.25)
The counter after opening gap up yesterday on strong global cues finally closed strong gaining an impressive 170 points over its previous close. Meantime, Nifty rollover to new series is reported to be around 48% and today being the expiry for May F & O derivative contracts the markets may witness high volatility with investors shifting their positions. Further, the counter to gain upward momentum needs to trade and remain above 4323.75, whereby it may move up to 4347/4375. Strong support for NF exists at 4242.25 which if breached decisively, NF may slide to 4213/4178.


ABB FUTURE (Last close 611.00)
The stock after sharp run up during the past week is moving range bound since three trading sessions and witnessing profit taking at higher levels. The stock has lost more than 3% during this week and may further slide to 592/584 once it trades and remains below 605.75. Strong resistance for the stock exists at 614.75.


BEL FUTURE (Last close 1321.85)
The stock has witnessed huge up surge during the past one month on sustained buying from interested quarters. However, the stock is moving range bound during the past three trading sessions and witnessing profit booking at higher levels. The stock may slide further to 1301/1286 once it trades and remains below 1311.25. Strong resistance for the stock exists at 1328.75.



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.

 

[lacktasid]

Re: Trading strategy for 28th May 2009

Thanks a lot

:thumb:

 

[opagarwal]

Trading strategy for 29th May 2009

TRADING STRATEGY FOR 29TH MAY 2009
(Based on technical by O P AGARWAL)



Markets close higher despite weak global cues


Markets opened marginally lower yesterday on the back of weak overnight cues from the U S markets but with in minutes of opening trades markets turned positive and remained firm till the end of the session on expectations the government will push forward speedily the economic reforms. A few good quarterly results announced yesterday too aided the market to keep up the upward momentum. Further, the expired May series proved to be one of the best ever Nifty future series with gains of close to 20% since May 1st but the Nifty June future saw thin rollovers of just 58 per cent only, which is very low compared with previous months. The Sensex, despite remaining range bound during the major part of the session ended the day with an impressive gain of 186 points at 14,296. The Nifty, which moved in a range of 100 points yesterday, closed 61 points higher at 4337. Even as scores of large cap stocks ended with sharp gains, buying remained highly stock specific. The market breadth was strong right through the session with 2812 stocks traded on BSE, 1738 stocks closed on a positive note. 1020 stocks declined and 54 stocks ended flat. Markets in general appear with positive bias and are waiting for fresh trigger to move further up.


NIFTY FUTURE (Last close 4336.25)
The counter after opening flat yesterday soon turned positive and remained steady thereafter through out the session amid high volatility and intra day swing of more than 90 points. NF closed the day gaining 42 points with positive bias. The counter will gain further strength once it trades and remains above 4369.75 whereby it may move up to 4393/4419. Strong short term support for NF exists at 4299.25 which if breached decisively NF may slip to 4271/4242.


GAIL FUTURE (Last close 287.95)
The company is India's largest natural gas transmission enterprise which also processes natural gas into LPG, apart from having a small presence in the petrochemicals and oil & gas exploration sectors. The government of India holds 57.34% stake in GAIL India (as on 31 December 2008). The stock after remaining range bound during the past four trading sessions closed yesterday marginally higher with heavy volumes. The stock appears positive on weekly charts and may flare up to 293/297 once it trades and remains above 288.75. Strong support for the stock exists at 283.25.


TATA STEEL FUTURE (Last close 381.75)
The stock after moving range bound during the past week closed yesterday surging past its intermediate trend line with high volumes. The stock appears positive on weekly charts and may move further up to 389/396 once it trades and remains above 384.25. Strong support for the stock exists at 378.25.



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 1st June 2009

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



Markets likely to extend rally on positive global cues


Markets closed the week with solid gain and may extend a pre-budget rally on hopes that the newly installed Congress led government at the center will push forward the economic reforms speedily. The Sensex has moved more than 50% during this year with massive inflow of funds by the FIIs. Market participants are hopeful that the earlier pending reforms related to the Insurance, banking and other sectors will get top priority on governments agenda and put to suitable legislation sooner. The disinvestment program of the government will also add to the positive market sentiment. Meantime, newly convened Lok Sabha will meet today with the Presidents address on the 4th June, a keenly watched event by the investors, which will unveil the new agenda of the government. Further, a near normal monsoon is expected this year which may have direct bearing on major crops which may influence the economic activity and financial markets. Readers are advised to approach the market with caution as short term profit booking at higher levels is not ruled out.


NIFTY FUTURE (Last close 4453.50)
The counter closed the week gaining an impressive 200 points amid high volatility and intra week swing of more than 400 points. The counter appears positive on weekly charts and may remain in the range of 4328-4579 this week, break above may take NF to 4612/4661 or else break below NF may slide to 4279/4248. For todays trading the counter will gain strength once it trades and remains above 4475.75 whereby it may move up to 4524/4559. Strong support for NF exists at 4407.25 which if breached decisively it may slide to 4375/4348.


WIPRO FUTURE (Last close 383.85)
The stock after remaining range bound closed the week gaining 4% over its previous close with high volumes. The stock appears positive on weekly charts and may move up to 393/399 once it trades and remains above 387.50. Strong support for the stock exists at 379.50.


IDFC FUTURE (Last close 125.30)
The company provides infrastructure-financing services. It provides financing products and fee based services to infrastructure projects and asset management. The group also provides advisory services on energy, telecommunications and transportation sectors to the Government and corporate clients. The companys net profit rose 20.10% to Rs 148.08 crore on 27.20% rise in total income to Rs 867.96 crore in Q4 March 2009 over Q4 March 2008. The company is of the opinion that there is a clear case for increasing infrastructure investment as the capacity is grossly inadequate and a growing economy would drive up demand for infrastructure services further thereby boosting companys revenues. Meantime, the stock after remaining range bound since last week closed the week flat with moderate volumes but with positive bias. The stock appears to be consolidating at current levels and may move up to 131/136 once it trades and remains above 126.75. Strong support for the stock exists at 123.50.


INDIAN BANK FUTURE (Last close 135.30)
The banking stock after moving sideways during the past six trading sessions closed the week with marginal gain. The stock appears positive on weekly charts and may move up to 141/145 once it trades and remains above 136.75. Strong support for the stock exists at 131.50.


POWER GRID CORP FUTURE (Last close 115.35)
The company owns and operates most of India's inter-state and inter-regional electric power transmission system. The Government of India holds 86.36% stake in the firm. The company has secured an order from Punjab State Electricity Board (PSEB) for turnkey execution of 400 circuit Kms of 400 kV D/C transmission lines and four 400 kV/220kV substations at an estimated cost of Rs 1,033 crore and expects to sign another agreement with PSEB under Phase-II for turnkey execution of transmission system for evacuation of power from its Rajpura Thermal Power Station. The prospects of the company appear very bright with the governments push on power and telecom sector. Meantime, the stock after declining to a low of 105 recently steadily moved up and closed with positive bias o Friday last. The stock appears positive on charts and may move up to 120/125 once it trades and remains above 116.50. Strong support for the stock exists at 113.25.




N.B: The site may not be updated on Tuesday as the author will be
away attending some very important conference on markets



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.

 

[rkjain2266]

Re: Trading strategy for 1st June 2009

good strategy as pointed out by you.
I also saw the fate of 1st june as enumerated by you.

thanks.

rkjain gwa