Below 6060, 5950 was not achieved as markets retraced from 5987. I do not want to say that i predicted close but would like to make a point to all my friends. Targets are likely points that an analyst thinks are achievable but when your money is at stake you need to follow these levels as directions. Incase the advised turn was closed for any reason (the level did not achieve) you need to act accordingly and take the next turn that will lead you to your destination or ask a passerby for new instructions (go back to your analyst). While categorizing between a good or bad analysis we as traders need to learn that trading is an If else statement. If levels achieve then take your profits else go back to your analyst to get new action plan.
NIFTY - Week ahead
Why am i not being bullish with the market moves is a million dollar question on my mind. So this week thought of finding answers for the same.
Reason1 : The rise of 900+ points from 5356 on 31st Aug to 6248 the first top needs to be consolidated and 20 days of resting is not enough for it to make its momentum move
Reason2 : 2 confirmed failed tops at 6248 & 6317 indicating good resistance at higher levels
Reason3 : Volatility is at a high and Momentum is falling signaling a change in trend
Finally this pattern is not the characteristic of a bullish market. So does it mean bear trend will start. NO, i am not trying to advocate the bearish theory either. Various concepts of analysis are indicating a fall which can be termed as a correction, a 5-10 day fall whatever term we use it points to a fact MANDI KHATAM NAHI HUI MERE DOST........ so lets tread these waters carefully
VERDICT NIFTY - Week ahead
Why am i not being bullish with the market moves is a million dollar question on my mind. So this week thought of finding answers for the same.
Reason1 : The rise of 900+ points from 5356 on 31st Aug to 6248 the first top needs to be consolidated and 20 days of resting is not enough for it to make its momentum move
Reason2 : 2 confirmed failed tops at 6248 & 6317 indicating good resistance at higher levels
Reason3 : Volatility is at a high and Momentum is falling signaling a change in trend
Finally this pattern is not the characteristic of a bullish market. So does it mean bear trend will start. NO, i am not trying to advocate the bearish theory either. Various concepts of analysis are indicating a fall which can be termed as a correction, a 5-10 day fall whatever term we use it points to a fact MANDI KHATAM NAHI HUI MERE DOST........ so lets tread these waters carefully
If You are a Bull : only and only above 6225 that to sustained trading above the same.
If You are a Bear : Confirmed shorts can be created below 5985 but aggressive shorts can be built with 6225 as SL
(Levels Mentioned are Nifty Current Month Futures)
NIFTY STOCKS TO WATCH
Reliance - We have exited the long positions at 1095. fresh longs above 1100 again
ONGC - 1335 achieved. Both side trading opportunities exist, we will create longs above 1385 and shorts below 1325
SBIN - Short positions created at 3205, remain short with sl of 3250 for a target of 3050
TCS - Spectacular bullish move with good volumes were witnessed. Since the stock was not on our radar we have no positions and do not advise building any at these levels
Infosys - No positions, look to create shorts in this up-move
NTPC - Similar to ONGC 203 - 209 are 2 levels where positions can be build
HindLever - Create fresh shorts below 290. The stock will face resistance on the upper side
(Levels Mentioned are Stock Current Month Futures)
(Levels Mentioned are Stock Current Month Futures)
TRADING SETUPS - HVR/NR4-IB
This setup finds stocks which are at historically low momentum and in the last few days are totally silent. These stocks present potential candidates for swing moves ahead(Levels Mentioned are Cash market prices)
| NSE SCRIPS | BUY ABV | SELL BLW |
| HERCULES HOI. LTD. | 326 | 316 |
| NESCO LTD. | 600 | 574 |
| V-GUARD IND LTD. | 197 | 191 |
| KALYANI STEELS LIMITED | 131 | 127 |
| JKUMAR INFR.LTD. | 254 | 246 |
| VIP INDUSTRIES LTD | 645 | 620 |
| KEC INTL. LIMITED | 504 | 492 |
| BASF INDIA LTD | 700 | 680 |
| CREST ANIMATION STUDIOS L | 103.5 | 98 |
| KOUTONS RETAIL (I) LTD | 118 | 111 |
| KAMAT HOTELS (I) LTD | 141 | 135 |
| BOMBAY DYEING MFG. CO L | 625 | 612 |
| ENTERTAIN NET. IND. LTD. | 241 | 233 |
| NATCO PHARMA LTD. | 285 | 279 |
| DCM SHRIRAM CONSOLIDATED | 50 | 48 |
| KPIT CUMMINS INFOSYSTEMS | 166 | 160 |
| SURYA PHARMACEUTICAL LTD. | 276 | 271 |
TRADING SETUPS -Candlesticks
Bearish Reversal Pattern : A list of stocks which have been rising for the last 4-5 days and the stock has given a bearish reversal for eg. Engulfing Bear, Spinning Top, Long legged Doji etc..
(Levels Mentioned are Cash market prices)
We use classic candle patterns which are formed by not a single days move but a combination of 8-10 days
Bearish Reversal Pattern : A list of stocks which have been rising for the last 4-5 days and the stock has given a bearish reversal for eg. Engulfing Bear, Spinning Top, Long legged Doji etc..
(Levels Mentioned are Cash market prices)
Bearish Reversal Pattern : A list of stocks which have been rising for the last 4-5 days and the stock has given a bearish reversal for eg. Engulfing Bear, Spinning Top, Long legged Doji etc..
(Levels Mentioned are Cash market prices)
NO SCRIPS TO REPORT
Bearish Reversal Pattern : A list of stocks which have been rising for the last 4-5 days and the stock has given a bearish reversal for eg. Engulfing Bear, Spinning Top, Long legged Doji etc..
(Levels Mentioned are Cash market prices)
| Reversal from the Bottom | Remarks |
| Hyderbad Industries Ltd | Buy ard 560-70 with SL 550 |
Happy Trading .........................
