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| HAPPY NEW YEAR 2011 |
Friday, December 31, 2010
Tuesday, November 30, 2010
Is another round of selling coming ?
Today price has risen to the 34 ema and placed just over it. We need a 30 min candle close below 34 ema and below the low of previous candle.
One can go short if we get a 30 min candle close below 5815 with SL 5836 as of now. All the indicators are approaching overbought levels, indicative of -'soon coming to an end' of the counter trend rally. (We are not into prediction, wait for the signal!)
Please note all the levels are Nifty Spot.
RainMaker
NB: Post was created in the night. As I post this at 10:30 in the morning market is already trading down let us see how it pans out.
Friday, November 19, 2010
Nifty Down Trend Begins
Nifty has finally closed below the pivot. Halting the intermediate up trend, formation of Lower high will confirm the down trend. Trend for Nifty remains down until it gives closing above 6340. 5746, 5562, 5379 are the levels to watch from here on, if the intermediate down trend is confirmed. On every rise sell Nifty.
TRADING IS AN ART
Once, there were two farmers who lived in the desert. Both desperately needed to acquire water so they could survive the desert and support their families. After working together to search the area, they concluded there was water somewhere in the area but they were not sure where. So, they set out to find a water well. They started digging in similar locations between their properties. After they both dug for several days, the second farmer finally struck water. As soon as this happened, the first farmer could see it from a distance and ran over to the second farmer. Seeing that he had stuck a huge water well, he asked the farmer, “You and I had the same tools for digging and have been digging in similar locations. How did you find water and I did not?”
The second farmer asked him, “How did you dig for water?”
The first farmer responded, “I went and dug 50 holes 1 foot deep trying to get maximum coverage of my area. What did you end up doing?”
The second farmer replies, “Oh! That is very interesting. I dug one hole, 50 feet deep.”
Many traders set out on the path of trading and do exactly what the first farmer did – they dig 50 holes 1 foot deep. If you are going to strike water, gold or oil, you will have to dig one hole, 50 feet deep. The reason for this is a matter of mastery. To be a master at anything, you have to become so familiar with it, know how it works inside and out to the point you understand every aspect of what you are doing.
Happy Trading !
Happy Trading !
Cracked Pot.
A water bearer in India had two large pots, each hung on each end of a pole which he carried across his neck. One of the pots had a crack in it, and while the other pot was perfect and always delivered a full portion of water at the end of the long walk from the stream to the master's house, the cracked pot arrived only half full.
For a full two years this went on daily, with the bearer delivering only one and a half pots full of water to his master's house. Of course, the perfect pot was proud of its accomplishments, perfect to the end for which it was made. But the poor cracked pot was ashamed of its own imperfection, and miserable that it was able to accomplish only half of what it had been made to do.
After two years of what it perceived to be a bitter failure, it spoke to the water bearer one day by the stream. I am ashamed of myself, and I want to apologize to you." "Why?" asked the bearer.
"What are you ashamed of?" "I have been able, for these past two years, to deliver only half my load because this crack in my side causes water to leak out all the way back to your master's house. Because of my flaws, you have to do all of this work, and you don't get full value from your efforts," the pot said. The water bearer felt sorry for the old cracked pot, and in his compassion he said, "As we return to the master's house, I want you to notice the beautiful flowers along the path." Indeed, as they went up the hill, the old cracked pot took notice of the sun warming the beautiful wild flowers on the side of the path, and this cheered it some. But at the end of the trail, it still felt bad because it had leaked out half its load, and so again it apologized to the bearer for its failure. The bearer said to the pot, "Did you notice that there were flowers only on your side of your path, but not on the other pot's side? That's because I have always known about your flaw, and I took advantage of it. I planted flower seeds on your side of the path, and every day while we walk back from the stream, you've watered them. For two years I have been able to pick these beautiful flowers to decorate my master's table. Without you being just the way you are, he would not have this beauty to grace his house."
Each of us has our own unique flaws. We're all cracked pots. But if we will allow it, God will use our flaws to grace this Universe. So, as we seek ways to minister together, and as God calls you to the tasks He has appointed for you, don't be afraid of your flaws.
For a full two years this went on daily, with the bearer delivering only one and a half pots full of water to his master's house. Of course, the perfect pot was proud of its accomplishments, perfect to the end for which it was made. But the poor cracked pot was ashamed of its own imperfection, and miserable that it was able to accomplish only half of what it had been made to do.
After two years of what it perceived to be a bitter failure, it spoke to the water bearer one day by the stream. I am ashamed of myself, and I want to apologize to you." "Why?" asked the bearer.
"What are you ashamed of?" "I have been able, for these past two years, to deliver only half my load because this crack in my side causes water to leak out all the way back to your master's house. Because of my flaws, you have to do all of this work, and you don't get full value from your efforts," the pot said. The water bearer felt sorry for the old cracked pot, and in his compassion he said, "As we return to the master's house, I want you to notice the beautiful flowers along the path." Indeed, as they went up the hill, the old cracked pot took notice of the sun warming the beautiful wild flowers on the side of the path, and this cheered it some. But at the end of the trail, it still felt bad because it had leaked out half its load, and so again it apologized to the bearer for its failure. The bearer said to the pot, "Did you notice that there were flowers only on your side of your path, but not on the other pot's side? That's because I have always known about your flaw, and I took advantage of it. I planted flower seeds on your side of the path, and every day while we walk back from the stream, you've watered them. For two years I have been able to pick these beautiful flowers to decorate my master's table. Without you being just the way you are, he would not have this beauty to grace his house."
Each of us has our own unique flaws. We're all cracked pots. But if we will allow it, God will use our flaws to grace this Universe. So, as we seek ways to minister together, and as God calls you to the tasks He has appointed for you, don't be afraid of your flaws.
Friday, November 5, 2010
Saturday, October 23, 2010
BREAK OUT STOCK: ESSAROIL
Also on weekly charts it has given a decent break out with good volumes one can hold the position with a deeper SL below 136 for possible higher targets.
Nifty is quite volatile these days, one should avoid short positions in nifty for the time being.
Happy Trading !
RainMaker
Saturday, September 25, 2010
BREAKOUT STOCK: MARUTI
MARUTI has given a BO on weekly charts after being in consolidation phase for about a year. Formation on the charts looks like a breakout from Flag. Approx height of the flag is 1300 and long term investor / trader can buy here with price TGT of 2700 approx. keeping SL of 1126 on closing basis. There was also an opportunity for short term traders as per daily charts when it broke out of 1400 range, it is likely to see a sharp run up from here, one should buy if it comes into trading range somewhere closer to 1400 with SL of 1380. TGT : 1580>1715>all the way to 2700
Nifty and Bank Nifty has given a nice run up after the breakout. Nifty is now all set for new highs. Off-course we may see minor correction in coming days, but the trend is up for sure.
Happy Trading !
Life will never take away something without giving you something better
The cheerful girl with bouncy golden curls was almost five. Waiting with her mother at the checkout stand, she saw them: a circle of glistening white pearls in a pink foil box.
"Oh please, Mommy. Can I have them? Please, Mommy, please?" Quickly the mother checked the back of the little foil box and then looked back into the pleading blue eyes of her little girl's upturned face. "A dollar ninety-five. That's almost $2.00. If you really want them, I'll think of some extra chores for you and in no time you can save enough money to buy them for yourself. Your birthday's only a week away and you might get another crisp dollar bill from Grandma."
As soon as Jenny got home, she emptied her penny bank and counted out 17 pennies. After dinner, she did more than her share of chores and she went to the neighbor and asked Mrs. McJames if she could pick dandelions for ten cents.
On her birthday, Grandma did give her another new dollar bill and at last she had enough money to buy the necklace.
Jenny loved her pearls. They made her feel dressed up and grown up. She wore them everywhere - Sunday school, kindergarten, even to bed. The only time she took them off was when she went swimming or had a bubble bath. Mother said if they got wet, they might turn her neck green.
Jenny had a very loving daddy and every night when she was ready for bed, he would stop whatever he was doing and come upstairs to read her a story. One night when he finished the story, he asked Jenny, "Do you love me?" "Oh yes, Daddy. You know that I love you." "Then give me your pearls." "Oh, Daddy, not my pearls. But you can have Princess - the white horse from my collection. The one with the pink tail. Remember, Daddy? The one you gave me. She's my favorite." "That's okay, Honey. Daddy loves you. Good night." And he brushed her cheek with a kiss.
About a week later, after the story time, Jenny's daddy asked again, "Do you love me?" "Daddy, you know I love you." "Then give me your pearls." "Oh Daddy, not my pearls. But you can have my baby doll. The brand new one I got for my birthday. She is so beautiful and you can have the yellow blanket that matches her sleeper." "That's okay. Sleep well. God bless you, little one. Daddy loves you" And as always, he brushed her cheek with a gentle kiss.
A few nights later when her daddy came in, Jenny was sitting on her bed with her legs crossed Indian-style. As he came close, he noticed her chin was trembling and one silent tear rolled down her cheek. "What is it, Jenny? What's the matter?" Jenny didn't say anything but lifted her little hand up to her daddy. And when she opened it, there was her little pearl necklace. With a little quiver, she finally said, "Here, Daddy. It's for you."
With tears gathering in his own eyes, Jenny's kind daddy reached out with one hand to take the dime-store necklace, and with the other hand he reached into his pocket and pulled out a blue velvet case with a strand of genuine pearls and gave them to Jenny. He had them all the time. He was just waiting for her to give up the dime-store stuff so he could give her genuine treasure.
Are you holding onto things that you should let go off. Are you holding on to harmful relationships, habits and activities which you have come so attached to that it seems impossible to let go? Sometimes it is so hard to see what is in the other hand but do believe this one thing.............
Life will never take away something without giving you something better in its place.
-Author Unknown
"Oh please, Mommy. Can I have them? Please, Mommy, please?" Quickly the mother checked the back of the little foil box and then looked back into the pleading blue eyes of her little girl's upturned face. "A dollar ninety-five. That's almost $2.00. If you really want them, I'll think of some extra chores for you and in no time you can save enough money to buy them for yourself. Your birthday's only a week away and you might get another crisp dollar bill from Grandma."
As soon as Jenny got home, she emptied her penny bank and counted out 17 pennies. After dinner, she did more than her share of chores and she went to the neighbor and asked Mrs. McJames if she could pick dandelions for ten cents.
On her birthday, Grandma did give her another new dollar bill and at last she had enough money to buy the necklace.
Jenny loved her pearls. They made her feel dressed up and grown up. She wore them everywhere - Sunday school, kindergarten, even to bed. The only time she took them off was when she went swimming or had a bubble bath. Mother said if they got wet, they might turn her neck green.
Jenny had a very loving daddy and every night when she was ready for bed, he would stop whatever he was doing and come upstairs to read her a story. One night when he finished the story, he asked Jenny, "Do you love me?" "Oh yes, Daddy. You know that I love you." "Then give me your pearls." "Oh, Daddy, not my pearls. But you can have Princess - the white horse from my collection. The one with the pink tail. Remember, Daddy? The one you gave me. She's my favorite." "That's okay, Honey. Daddy loves you. Good night." And he brushed her cheek with a kiss.
About a week later, after the story time, Jenny's daddy asked again, "Do you love me?" "Daddy, you know I love you." "Then give me your pearls." "Oh Daddy, not my pearls. But you can have my baby doll. The brand new one I got for my birthday. She is so beautiful and you can have the yellow blanket that matches her sleeper." "That's okay. Sleep well. God bless you, little one. Daddy loves you" And as always, he brushed her cheek with a gentle kiss.
A few nights later when her daddy came in, Jenny was sitting on her bed with her legs crossed Indian-style. As he came close, he noticed her chin was trembling and one silent tear rolled down her cheek. "What is it, Jenny? What's the matter?" Jenny didn't say anything but lifted her little hand up to her daddy. And when she opened it, there was her little pearl necklace. With a little quiver, she finally said, "Here, Daddy. It's for you."
With tears gathering in his own eyes, Jenny's kind daddy reached out with one hand to take the dime-store necklace, and with the other hand he reached into his pocket and pulled out a blue velvet case with a strand of genuine pearls and gave them to Jenny. He had them all the time. He was just waiting for her to give up the dime-store stuff so he could give her genuine treasure.
Are you holding onto things that you should let go off. Are you holding on to harmful relationships, habits and activities which you have come so attached to that it seems impossible to let go? Sometimes it is so hard to see what is in the other hand but do believe this one thing.............
Life will never take away something without giving you something better in its place.
-Author Unknown
Friday, August 27, 2010
Warning Signs on BANK NIFTY
Bank Nifty has made an all time High of 11110.95 (Futures) and is now down to 10741. Price candle has formed a Dark Cloud Cover RSI is over bought and STS is giving a sell in the OB region.
Although the BNF is in uptrend but all this reminds you to be on your guards. 10250-10200 is the key level to watch. If Bank Nifty fails to take support at these levels and drops further down we can see the formation of Wolve Wave on the weekly charts point 5 & 6 are marked on the charts we can see levels as low as 8000 approx.
The above view holds if we happen to close below 10200. The chart posted is weekly chart for Bank Nifty.
Happy Trading !
Monday, August 23, 2010
BREAKOUT STOCK
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It can TGT 56.75 > 60.40>62.75>72.10
Short Term SL 52.20
Mid Term SL 49.60
As I write this it is trading at 54.55 with 1.1 million shares already traded. Suggestive of positive closing at the end of the day.
Happy Trading !
Friday, August 13, 2010
JESSE LIVERMORE ON TRADING
Speculating
If somebody had told me my method would not work I nevertheless would have tried it out to make sure for myself, for when I am wrong only one thing convinces me of it, and that is, to lose money. And I am only right when I make money. That is speculating.
Entry
When I’m bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying, the reverse is true. I must buy on a rising scale. I don’t buy long stocks on a scale down, I buy on a scale up.
Loss
A loss never bothers me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does damage to the pocketbook and to the soul.
Risk
If all I have is ten dollars and I risk it, I am much braver than when I risk a million if I have another million salted away.
Personality
Every stock is like a human being : it has a personality – a distinctive personality – aggressive, reserved, hyper, high-strung, volatile, boring, direct, logical, predictable, unpredictable. I often studied stocks like I would study people; after a while their reactions to certain circumstances become more predictable.
If somebody had told me my method would not work I nevertheless would have tried it out to make sure for myself, for when I am wrong only one thing convinces me of it, and that is, to lose money. And I am only right when I make money. That is speculating.
Entry
When I’m bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying, the reverse is true. I must buy on a rising scale. I don’t buy long stocks on a scale down, I buy on a scale up.
Loss
A loss never bothers me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does damage to the pocketbook and to the soul.
Risk
If all I have is ten dollars and I risk it, I am much braver than when I risk a million if I have another million salted away.
Personality
Every stock is like a human being : it has a personality – a distinctive personality – aggressive, reserved, hyper, high-strung, volatile, boring, direct, logical, predictable, unpredictable. I often studied stocks like I would study people; after a while their reactions to certain circumstances become more predictable.
Tuesday, August 3, 2010
Saturday, July 31, 2010
BREAKOUT IN M&M
Breakout in M&M.
One can buy now with SL of 636 EOD basis.
Short term TGTs can be 690 > 735.
It is now at all time highs can go higher if NIFTY supports.
Tuesday, July 27, 2010
BREAKOUT IN BAJAJ AUTO
Bajaj auto has give a BO one can buy here with SL of 2463 immediate TGT is 2600 It may also do 2900 with the support of NIFTY.
Friday, July 23, 2010
BREAKOUT IN ANGIND
ANGIND has given a BO from Cup & Handle formation it may TGT approx 75-80. Buy with a SL of 57
Just have a look this is an EOD chart.
Wednesday, July 14, 2010
DIVERGENCE ON NIFTY
Here is a divergence on Nifty.
Chart is nifty spot EOD
Take entry only after STS crossover with SL
TGTs can be 5200>5120>5040
Chart is nifty spot EOD
Take entry only after STS crossover with SL
TGTs can be 5200>5120>5040
Saturday, July 3, 2010
MEN & WOMEN
Men
1. All men are extremely busy.
2. Although they are so busy, they still have time for women.
3. Although they have time for women, they don’t really care for them.
4. Although they don’t really care for them, they always have one around.
5. Although they always have one around them, they always try their luck with others.
Women
1. The most important thing for a woman is financial security.
2. Although this is so important, they still go out and buy expensive clothes and stuff.
3. Although they always buy expensive clothes, they never have something to wear.
4. Although they never have something to wear, they always dress beautifully.
5. Although they always dress beautifully, their clothes are always just “an old rag”.
6. Although their clothes are always “just an old rag”, they still expect you to compliment them.
7. Although they expect you to compliment them, when you do, they don’t believe you
1. All men are extremely busy.
2. Although they are so busy, they still have time for women.
3. Although they have time for women, they don’t really care for them.
4. Although they don’t really care for them, they always have one around.
5. Although they always have one around them, they always try their luck with others.
Women
1. The most important thing for a woman is financial security.
2. Although this is so important, they still go out and buy expensive clothes and stuff.
3. Although they always buy expensive clothes, they never have something to wear.
4. Although they never have something to wear, they always dress beautifully.
5. Although they always dress beautifully, their clothes are always just “an old rag”.
6. Although their clothes are always “just an old rag”, they still expect you to compliment them.
7. Although they expect you to compliment them, when you do, they don’t believe you
Friday, July 2, 2010
Sunday, June 27, 2010
INTRADAY TRADING LEVELS
Posted above are Intraday Trading levels for June 28, based on Friday's Price movement of Nifty and Bank Nifty
Happy Trading !
Saturday, June 26, 2010
Thursday, June 24, 2010
INTRADAY TRADING LEVELS
Wednesday, June 23, 2010
INTRADAY TRADING LEVELS
Posted above are Intraday Trading levels for June 24, based on today's Price movement of Nifty and Bank NiftyHappy Trading !
Wednesday, June 16, 2010
INSTALLING HUSBAND
A woman writes to the IT Technical support Guy
Dear Tech Support,
Last year I upgraded from Boyfriend 5.0 to Husband 1.0 and I noticed a distinct slowdown in the overall system performance, particularly in the flower and jewellery applications, which operated flawlessly under Boyfriend 5.0..
In addition, Husband 1.0 uninstalled many other valuable programs, such as
Romance 9.5 and Personal Attention 6.5, and then installed undesirable programs such as NEWS 5..0, MONEY 3.0 and CRICKET 4.1.
Conversation 8.0 no longer runs, and House cleaning 2.6 simply crashes the system..
Please note that I have tried running Nagging 5..3 to fix these problems, but to no avail.
What can I do?
Signed,
Reply
DEAR Madam,
First, keep in mind, Boyfriend 5.0 is an Entertainment Package, while Husband 1.0 is an operating system.
Please enter command: ithoughtyoulovedme. html and try to download Tears 6.2 and do not forget to install the Guilt 3.0 update.
If that application works as designed, Husband1..0 should then automatically run the applications Jewellery 2.0 and Flowers 3.5..
However, remember, overuse of the above application can cause Husband 1.0 to default to Silence 2.5 or Beer 6.1.
Please note that Beer 6.1 is a very bad program that will download the Snoring Loudly Beta.
Whatever you do, DO NOT under any circumstances install Mother-In-Law 1.0 (it runs a virus in the background that will eventually seize control of all your system resources.)
In addition, please do not attempt to reinstall the Boyfriend 5.0 program. These are unsupported applications and will crash Husband 1.0.
In summary, Husband 1.0 is a great program, but it does have limited memory and cannot learn new applications quickly.
You might consider buying additional software to improve memory and performance.
We recommend: Cooking 3.0 and Hot Looks 7.7.
Good Luck Madam!
Tuesday, June 8, 2010
Behind Every Man There is a Smart Woman
Barbara Walters, did a story on gender roles in Kabul, Afghanistan, several years before the Afghan conflict.
She noted that women customarily walked five paces behind their husbands. She recently returned to Kabul and observed that women still walk behind their husbands.
Despite the overthrow of the oppressive Taliban regime, the women now seem to, and are happy to, maintain the old custom.
Ms. Walters approached one of the Afghani women and asked, ‘Why do you now seem happy with an old custom that you once tried so desperately to change?’
The woman looked Ms. Walters straight in the eyes, and without hesitation said, ‘Land Mines.’
She noted that women customarily walked five paces behind their husbands. She recently returned to Kabul and observed that women still walk behind their husbands.
Despite the overthrow of the oppressive Taliban regime, the women now seem to, and are happy to, maintain the old custom.
Ms. Walters approached one of the Afghani women and asked, ‘Why do you now seem happy with an old custom that you once tried so desperately to change?’
The woman looked Ms. Walters straight in the eyes, and without hesitation said, ‘Land Mines.’
Saturday, June 5, 2010
Friday, May 21, 2010
INTRADAY LEVELS
Posted above are Intraday trading levels for NIFTY and BANK-NIFTY for Monday, May 24
Saturday, May 15, 2010
TRADING WISDOM
Ed Seykota – Quotes
Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.
To avoid whipsaw losses, stop trading.
Risk no more than you can afford to lose and also risk enough so that a win is meaningful.
Trend following is an exercise in observing and responding to the ever-present moment of now.
Fundamentalists and anticipators may have difficulties with risk control because a trade keeps looking ‘better’ the more it goes against them.
Until you master the basic literature and spend some time with successful traders, you might consider confining your trading to the supermarket.
I don’t predict a non existing future
It can be very expensive to try to convince the markets you are right.
Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.
To avoid whipsaw losses, stop trading.
Risk no more than you can afford to lose and also risk enough so that a win is meaningful.
Trend following is an exercise in observing and responding to the ever-present moment of now.
Fundamentalists and anticipators may have difficulties with risk control because a trade keeps looking ‘better’ the more it goes against them.
Until you master the basic literature and spend some time with successful traders, you might consider confining your trading to the supermarket.
I don’t predict a non existing future
It can be very expensive to try to convince the markets you are right.
Thursday, May 13, 2010
JAGRAN PRAKSHAN
Jagran Prakashan has recently acquried Mid-Day, it will add to the foot prints of Jagran in Gujrati and Urdu markets. It's stock price has fallen from 142 levels and now very close to its support of 104, if it sustains here, one can start buying here with trading stop loss of 101 and final stop loss of 91. Below 91 it can see 79 also, which again is a crucial support, where one can initiate fresh buy with a long term view.CALL : BUY
STOP LOSS: 91
TGT: 152, 164
Wednesday, May 12, 2010
BAJAJHIND IN WOLFE WAVE
Yesterday, Bajajhind hit the SL . But see the hourly charts it has formed a WW here, if it moves as per this we can still meet the targets as posted earlier.
Here is the call as per WW formation.
CALL: BUY
STOP LOSS : 104.80
TGT: 120-125
Tuesday, May 11, 2010
BAJAJHIND READY FOR A BOUNCE
After a consistent fall bajajhind is now ready for a small bounce. One can take a long position here with short term view.
CALL : BUY
STOP LOSS : 110
TGT: 122.6, 130.30, 142.90
DABUR INDIA
Dabur is relatively better placed FMCG and operates in niche market. It plans to open 30-35 new stores. Buy in dips with a long term view.
CALL : BUY
STOP LOSS : 157
TARGET : 224 , 236
Sunday, May 9, 2010
TRADING WISDOM
"The trading rules I live by are: (a) Cut losses, (b) Ride Winners, (c) Keep bets small, (d) Follow the rules without question, and (e) Know when to break the rules." - Rules are important, but following them blindly does not necessarily lead to success. Know which conditions produced those rules in the first place, so that when the conditions change, the rules can too.
"Amateurs Focus On Rewards. Professionals Focus on Risk." - Experienced traders think first about how much they can lose on a trade, base their calculations on that, and then see if they are happy with the potential reward the trade offers. Novices usually do the opposite, blinded by the allure of quick riches.
"Amateurs Focus On Rewards. Professionals Focus on Risk." - Experienced traders think first about how much they can lose on a trade, base their calculations on that, and then see if they are happy with the potential reward the trade offers. Novices usually do the opposite, blinded by the allure of quick riches.
Sunday, May 2, 2010
INTRA DAY LEVELS
Posting below Levels for intraday trading on Monday.
NIFTY
LONG: 5273.3
SL: 5256.65
TGT :5279.7 >5296.4>5306.7>5323.4
SHORT: 5258
SL: 5265.6
TGT: 5256.2>5249.4>5245.2>5238.4
BANK NIFTY
LONG: 9861
SL: 9829.7
TGT: 9874>9906>9926.1>9958.2
SHORT:9827.4
SL:9851
TGT: 9818>9795>9780>9757.
NIFTY
LONG: 5273.3
SL: 5256.65
TGT :5279.7 >5296.4>5306.7>5323.4
SHORT: 5258
SL: 5265.6
TGT: 5256.2>5249.4>5245.2>5238.4
BANK NIFTY
LONG: 9861
SL: 9829.7
TGT: 9874>9906>9926.1>9958.2
SHORT:9827.4
SL:9851
TGT: 9818>9795>9780>9757.
Friday, April 30, 2010
ABB
ABB has broken a major support. One can start shorting it add on the pullbacks
SYMBOL: ABB
CALL: SHORT
STOP LOSS: 830
TARGET-1 : 758
TARGET-2 : 680
Thursday, April 29, 2010
NECTAR LIFESCIENCES
Nectar Lifesciences is an integrated pharma firm engaged in developing, manufacturing and marketing of specialized drugs. It has been doing consistently well.On charts it has started showing a bit of weakness. One can take advantage and start accumulating in dips up to the level of 32-33 with a long term view.
SYMBOL: NECLIFE
CALL: BUY
TARGET: 55-58
STOP LOSS: 31
EDUCOMP
Educomp has broken a major support. It can see a sharp correction from here onwards. One should add shorts on every rise till 710-715.
SYMBOL : EDUCOMP
CALL : SHORT
STOP LOSS : 720
TARGET 1 : 653
TARGET 2 : 625
Wednesday, April 28, 2010
JAGRAN PRAKASHAN
Jagran Prakashan is a Mid Term Buy.
SYMBOL : JAGRAN
CALL : BUY
STOP LOSS : 110
TGT-1 : 142
TGT-2 : 165
NIFTY READY FOR A BREAKOUT
Have a look on 30 min charts. Nifty has formed a nice symmetrical triangle and almost reached it apex. As per the height of the triangle it can give a fast move of about 210 points on either side as per the BO.
Buy above 5336 TGT 5536
SELL below 5265 TGT 5103
Tuesday, April 27, 2010
TRADING WISDOM
You have only three choices when you are in a bad position and it is not hard to figure out what to do ?
1. Get out of it.
2. Double your position.
3. Spread your risk.
It is always better to get out of the loosing position.
1. Get out of it.
2. Double your position.
3. Spread your risk.
It is always better to get out of the loosing position.
HEIDELBERG CEMENT
Buy Heidelberg Cement with a Medium Term veiw.
Company plans to double it capacity in coming 3-4 quarters.
SYMBOL: HEIDELBERG
CALL : BUY
TARGET: 71
STOP LOSS: 51
STERLITE INDUSTRIES
Sterlite Industies is a short term pick.
One can Buy half qty here and rest on declines to 820-830 region.
SYMBOL: STER
CALL : BUY
TARGET: 880
STOP LOSS: 815
Saturday, April 24, 2010
Nifty in a Wolfe Wave
Is it WW in making ? Or we have already started the downtrend ?
Going by the symmetry of the wave structure we are still to reach point 5.
In coming days price many shoot beyond the upper trendline and might make high near about 5450-5500 and retrace that will confirm a WW.
Please note that at the same point it will be forming a divergence - marked by RED lines on price and RSI and we might get STS giving a sell signal in OB region again marked in RED.
As of now keep any eye on the structure formation. Nothing else to do.
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