NIFTY - Followup of Last Week
Breach of 6225 created longs in the market, But 6225 could not sustain beyond a day. This is not a good signal for Bulls. Though scrip level action prevailed and we could make some money.
NIFTY - Week ahead
This week Nifty is going to be no different from last week. We have 2 confirmed failed tops in the range of 6250-6300 indicating clearly that Nifty needs time to rest. This oscillation also depicts the impatience of the Bulls to get out. And each attempt is being hammered severely. We expect the market to be range bound again this week between the levels of 5950 - 6250. the only concern this week is that after 8 days of resting Nifty tried to create a momentum which failed, this pattern cannot result in resting again, the volatility should increase thereby we should be extra careful in this week and be double sure of understanding a trend and then trading the same. In simple words what i am trying to explain is : The markets would touch both sides of the range and the actions n reactions will be very fast. So our assumption and actions have to be equally fast. In-spite of the visible candle reversal on the charts we should look to buy the nifty if it remains above 6150 and short it immediately if it remains below 5950 even for 15 mins. Lets play the stocks again this week. Which all seem to be bearish. YEH MANDI KAB AYGI !!!!! we are getting the first signals but apart from signals we need confirmations too. lets wait for them
VERDICT Breach of 6225 created longs in the market, But 6225 could not sustain beyond a day. This is not a good signal for Bulls. Though scrip level action prevailed and we could make some money.
NIFTY - Week ahead
If You are a Bull : Keep a SL of 5950 for all your longs. (better to exit incase you have created longs ard 6225)
If You are a Bear : High risk low profit shorts can be build below 6060 with target of 5950
(Levels Mentioned are Nifty Current Month Futures)
NIFTY STOCKS TO WATCH
Reliance - We are long in Reliance @ 1020 with revised SL of 1025 and target of 1100. The stock touched a high of 1085 and did not hit our target. Lets remain long
ONGC - We are short on ONGC with a revised SL of 1375 for a target of 1335. It touched a low of 1339. We can still remain short and wait for 1335
SBIN - We out of our longs and now shorts can be build at 3205 levels for a target of 3050. SL yet to far. will post the SL during the course of the week
TCS - The Infosys effect helped scrip breach 970 and touch 1017. If anyone is long above 970 and could not get out we suggest to exit at the first move back
Infosys - A complete and perfect engulfing pattern which indicates a short term downward trend till 2900. Build shorts once infosys pull backs to 3125-50 only
NTPC - The downward fall has culminated and 203 will hold as short term support. 210 seems achievable in the short term on bounce back
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)
| Scrip | High | Low |
| VINATI ORGANICS LTD | 81.00 | 78.25 |
| GLAXOSMITHKLINE PHARMA LT | 2335.00 | 2260.00 |
| RAIN COMM LTD | 168.00 | 165.00 |
| SHREE CEMENTS LTD | 2048.00 | 2020.00 |
| BANCO PRODUCTS (I) LTD | 113.50 | 110.50 |
| BHAGWATI BANQUETS HOTELS | 173.00 | 168.50 |
| GENESYS INTL CORPN LTD | 296.00 | 281.00 |
| HIMATSINGKA SEIDE LTD | 47.00 | 45.00 |
| CnC CONST. LTD. | 262.00 | 257.00 |
| LANCO INFRATECH LTD. | 68.40 | 67.10 |
| ARIES AGRO LTD. | 180.00 | 173.50 |
| TECHNOCRAFT IND LTD | 88.25 | 84.25 |
| GLAXOSMITHKLINE CONSUMER | 2120.00 | 2085.00 |
| D B REALTY LIMITED | 440.00 | 429.00 |
TRADING SETUPS -Candlesticks
We use classic candle patterns which are formed by not a single days move but a combination of 8-10 days (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)
Bullish Reversal Pattern : A list of stocks which have been falling for the last 4-5 days and the stock has given a bullish reversal for eg. Engulfing Bull, Long legged Doji etc..
(Levels Mentioned are Cash market prices)
| Reversal from the Top | Remarks |
| TATA CONSULTANCY SERV | Look to sell around 975-980 |
| TAINWALA CHEMICAL | Sell ard 27 |
| SPICE MOBILITY LIMITED | Sell ard 106.8 |
| NAHAR INVST & HOLDING LTD | Sell ard 50 |
| CONSO. FIN. HOLD. LTD. | Sell ard 149.5 |
Bullish Reversal Pattern : A list of stocks which have been falling for the last 4-5 days and the stock has given a bullish reversal for eg. Engulfing Bull, Long legged Doji etc..
(Levels Mentioned are Cash market prices)
| Reversal from the Top | Remarks |
| EIH Hotels | Buy with a SL of 196 |
Our Trades : 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 .........................
"One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man................. Elbert Hubbard
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