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| Nifty Daily Chart upto 3rd Sep 2010 |
NIFTY - Followup of Last Week
As expected nifty remained bearish in the first half of the week and touched our support level of 5350. Though i must admit the rise was really fast and has trapped many bears.
NIFTY - Week ahead
Inspite of the impressive rise 1st Sep 2010 the trading in the range of 5480 - 5515 is yet not convincing. The market this week is not going to be any mood to break any levels on both sides. With the coming week marred by holidays we will witness a lackluster trading over all. Inspite of our anticipation we should always be prepared unexpected moves. 5350 is a very good support and 5550 a very good resistance. Look to buy nifty in-case it trades above 5550 for a good upmove.
There is another setup that might be reflected after Tuesdays trading. In-case Nifty remains between the levels of 5470 - 5510, expect a momentum move on the violations of any level.
STOCKS TO WATCH
Reliance - Profitable positions can be build on the breakout of 915 - 950 for a target of 35 rupees which ever side it breaks
SBIN - We are short on it at 2765 with a stoploss of 2805 where we will cut our shorts and build longs too
HindLever - Incase NIFTY violates 5500-5550 then this is the stock to buy first. Any move above 275 will take the stock to 290 levels very quickly
TataMotors - Good Consolidation happening at current levels, Trading between 980 - 1040 any violations of these levels will take the scrip one way which ever level it breaks
As expected nifty remained bearish in the first half of the week and touched our support level of 5350. Though i must admit the rise was really fast and has trapped many bears.
NIFTY - Week ahead
Inspite of the impressive rise 1st Sep 2010 the trading in the range of 5480 - 5515 is yet not convincing. The market this week is not going to be any mood to break any levels on both sides. With the coming week marred by holidays we will witness a lackluster trading over all. Inspite of our anticipation we should always be prepared unexpected moves. 5350 is a very good support and 5550 a very good resistance. Look to buy nifty in-case it trades above 5550 for a good upmove.
There is another setup that might be reflected after Tuesdays trading. In-case Nifty remains between the levels of 5470 - 5510, expect a momentum move on the violations of any level.
STOCKS TO WATCH
Reliance - Profitable positions can be build on the breakout of 915 - 950 for a target of 35 rupees which ever side it breaks
SBIN - We are short on it at 2765 with a stoploss of 2805 where we will cut our shorts and build longs too
HindLever - Incase NIFTY violates 5500-5550 then this is the stock to buy first. Any move above 275 will take the stock to 290 levels very quickly
TataMotors - Good Consolidation happening at current levels, Trading between 980 - 1040 any violations of these levels will take the scrip one way which ever level it breaks
TRADING SETUPS
This section will cover lists of various technical setups under formations and levels where action can be taken. These are time tested and profitable systems which Technical analysts have been using for the last hundreds of years
HVR-NR4/IB setup
A system that gurantees highest probability of being profitable. A very simple setup to understand and trade. I invite your feedback on the pros and cons you have witnessed during your observations
| Scrip | High | Low |
| STATE BANK OF INDIA | 2789.00 | 2751.35 |
| LIC HOUSING FINANCE LTD | 1222.40 | 1206.35 |
| CANARA BANK | 536.80 | 526.35 |
| LUPIN LIMITED | 369.50 | 360.00 |
| J & K BANK LTD. | 766.00 | 756.50 |
| PATNI COMPUTER SYST LTD | 457.90 | 449.10 |
| ZEE ENTERTAINMENT ENT LTD | 289.40 | 285.25 |
| THE INDIA CEMENTS LIMITED | 107.50 | 105.90 |
| SPECTACLE INDUSTRIES LTD | 152.85 | 152.00 |
| PIPAVAV SHIPYARD LTD | 108.50 | 106.50 |
| VOLTAMP TRANSFORMERS LTD | 1024.00 | 1001.10 |
| VARUN INDUS. LTD. | 174.35 | 170.15 |
| TUBE INVESTMENTS OF INDIA | 131.40 | 127.60 |
| ATUL LTD | 145.00 | 141.15 |
| V-GUARD IND LTD. | 164.60 | 161.50 |
| TORRENT PHARMACEUTICALS L | 543.95 | 535.00 |
| TULIP TELECOM LIMITED | 173.10 | 171.00 |
http://bit.ly/dwF0SS : You are welcome to post your comments on each trade that i take based on the above newsletter and do not forget to rate me and follow my trades.
Happy Trading, Happy Labours Day, Happy ID............ Lets see next week its going to be happy or lackluster. Being a technical analyst we hate lackluster days. I leave you with a thought to ponder on.
If you know the enemy and know yourself you need not fear the results of a hundred battles. ---- Sun tzu
Bye, take care and have a profitable trading week
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