- Cairn India :- Insync is moving up in Cairn. Buy with stop loss below 335.
- Renuka Sugar :- NR7 bar pattern in Renuka. Buy above 74, Sell below 70.50.
Monday, February 28, 2011
Stock To Trade 1 03 2011
Two consecutive DOJI pattern.
Nifty Watch:- Today Nifty opened at 5335. As budget is coming today the Nifty consolidate in staring period. During the day Nifty made a high of 5498 with a gain of 163 points to its open. From this level nifty falls quickly and made a low at 5310 with a decline of 188 points to its day high. Finally nifty closed at 5343 with a gain of 8 points to its today’s open.
Nifty made another Doji today. This means that the uncertainty is still there in the mind of the bears.
Trend:- The short term trend remains up. The Intermediate trend remains down, with the Nifty trading below its 200 days and 50 days moving average. TA Insync(55-5) is above the level of -45 and moving down. This indicator is suggesting a downside momentum.
Summary:- Today’s market saw a volatility in the trading. Market trading between the ranges of 180 points and closed near to its open. This suggests that the market is in uncertainty. This also indicate that a big move about to come.
Nifty made another Doji today. This means that the uncertainty is still there in the mind of the bears.
Trend:- The short term trend remains up. The Intermediate trend remains down, with the Nifty trading below its 200 days and 50 days moving average. TA Insync(55-5) is above the level of -45 and moving down. This indicator is suggesting a downside momentum.
Summary:- Today’s market saw a volatility in the trading. Market trading between the ranges of 180 points and closed near to its open. This suggests that the market is in uncertainty. This also indicate that a big move about to come.
Market Outlook FOR 1 03 2011
Union Budget was presented in the Parliament and the markets witnessed a see-saw movement post Budget. It rallied sharply immediately after the Budget speech and Nifty was up more than 3% at one point of time. As the current Budget was low on expectations it seemed more like a relief rally. But, as the Budget lacked any big bang announcements, the higher levels once again attracted selling and Nifty lost almost all its post speech gains in the last 60 minutes to close with a marginal gain of only 30 points. The stocks or sectors that gained post Budget were the ones that were expecting some negative announcements and the absence of such negative measures provided a leg up to these sectors. Cases in point are Auto stocks and tobacco stocks. The banking or financial stocks were also amongst the gainers as FM pegged the fiscal deficit at just
around 4.6%. So, the prominent gainers were ITC, IDFC, TVS Motors, IOB, Central Bank, Reliance Cap, Canara Bank, Federal Bank, M&M and Maruti. Coal India was the biggest gainer as the Coal prices were increased 30%. But this measure had a negative fallout on the user sectors and power and cement stocks reacted negatively. There were some measures to boost infra spending but nothing much to enthuse the markets. Sesa Goa was impacted negatively as 20% duty was imposed on iron ore exports. So, the list of losers had stocks like BGR Energy, Patel Engg., Sesa Goa, Jain Irrigation, Mundra Ports, Pantaloon, Educomp, Reliance Infra, Ambuja Cement, TV18, Ranbaxy and JP Industries. So, the Budget has come and gone and has largely failed to have much of impacts on markets. We are back to looking at Global cues and Crude oil movement. But, since there were no or muted expectations market is unlikely to react much on the lower side. We could see a drop in volatility and perhaps a sideways movement between 5200 and 5600 for the short term. Some base building is likely in certain banking/financial stocks. The Auto counters too could consolidate around current levels before moving higher. But, broadly nothing much seems to have changed technically for the overall markets and the bigger sectors. Nifty must trade above 5375-85 consistently to be in the neutral territory, at least 5250-60 is likely to provide support in the near term.
around 4.6%. So, the prominent gainers were ITC, IDFC, TVS Motors, IOB, Central Bank, Reliance Cap, Canara Bank, Federal Bank, M&M and Maruti. Coal India was the biggest gainer as the Coal prices were increased 30%. But this measure had a negative fallout on the user sectors and power and cement stocks reacted negatively. There were some measures to boost infra spending but nothing much to enthuse the markets. Sesa Goa was impacted negatively as 20% duty was imposed on iron ore exports. So, the list of losers had stocks like BGR Energy, Patel Engg., Sesa Goa, Jain Irrigation, Mundra Ports, Pantaloon, Educomp, Reliance Infra, Ambuja Cement, TV18, Ranbaxy and JP Industries. So, the Budget has come and gone and has largely failed to have much of impacts on markets. We are back to looking at Global cues and Crude oil movement. But, since there were no or muted expectations market is unlikely to react much on the lower side. We could see a drop in volatility and perhaps a sideways movement between 5200 and 5600 for the short term. Some base building is likely in certain banking/financial stocks. The Auto counters too could consolidate around current levels before moving higher. But, broadly nothing much seems to have changed technically for the overall markets and the bigger sectors. Nifty must trade above 5375-85 consistently to be in the neutral territory, at least 5250-60 is likely to provide support in the near term.
Sunday, February 27, 2011
Stock To Trade 28 02 2011
- Hexaware :- Hexaware corrected to its support and TA Insync is moving up. Buy with stop loss below 52.
- LIC Hsg Finance :- NR7 bar pattern in LIC Housing Finance. Buy above 186, Sell below 180.
- PFC :- TA Turtle upside breakout in PFC 30 mins chart. Buy with stop loss below 240.
Market Outlook FOR 28 02 2011
The Arab States are in a conflict between the rulers and the masses who are the ruled. Demands for an open society and democracy have gained strength to such an extent that the resulting upheavel has caused a conflict in the stock markets, with the bears and bulls battling it out while the market remains volatile. The Nifty has retarced almost its entire up move from 5175 to 5600. I say almost since the low of 5175 did hold on Friday when the Nifty fell a 100 points suddenly, then equally suddenly rallied a 100 points to close the day with gains. But, the week ended with a net loss.
The Nifty made a DOJI today, where the open and the close are roughly equal. The DOJI is a sign of uncertainty. Since we have seen sahrp declines over the past few days, the uncertainty can be in the minds of the bears. After all, they were in full control, then, suddenly on Friday, inspite of lower levels intraday, the DOJi came about. This small pattern suggests that the bears may be apprehensie of further declines in the short term. his matches with the big event that is coming about on Monday – the union budget. Every year, traders enjoy a traditional budget rally. This year, the markets have fallen a 1000 points before the budget. Therefore, we are entering a big news event with declines in the market, and, quite possible, large short positions among traders. This is a strange situation just before the annual poilicy statement by the government. It is uite possible that all sorts of bad news relating to the budget has been discounted y the market. Even the slightest feel good can trigger a rally.
If you are an investor, the markets offer nothing for the time being. In case you have trading positions, a post bugdet rally (if it comes about) should be used to get out of problem positions.
If you are a trader, then the slightest sign of a rally should be used to take long positions. mrkets can surprise us, both on the downside and the upside. In recent days, we have seen many surprises on the downside. We may now be seeing surprises on the upside. When we enter a big news day, there are no valid support and resistance levels. The best way to trade such days is to either take options positions or wait for the news to be over then take a position.
The Nifty made a DOJI today, where the open and the close are roughly equal. The DOJI is a sign of uncertainty. Since we have seen sahrp declines over the past few days, the uncertainty can be in the minds of the bears. After all, they were in full control, then, suddenly on Friday, inspite of lower levels intraday, the DOJi came about. This small pattern suggests that the bears may be apprehensie of further declines in the short term. his matches with the big event that is coming about on Monday – the union budget. Every year, traders enjoy a traditional budget rally. This year, the markets have fallen a 1000 points before the budget. Therefore, we are entering a big news event with declines in the market, and, quite possible, large short positions among traders. This is a strange situation just before the annual poilicy statement by the government. It is uite possible that all sorts of bad news relating to the budget has been discounted y the market. Even the slightest feel good can trigger a rally.
If you are an investor, the markets offer nothing for the time being. In case you have trading positions, a post bugdet rally (if it comes about) should be used to get out of problem positions.
If you are a trader, then the slightest sign of a rally should be used to take long positions. mrkets can surprise us, both on the downside and the upside. In recent days, we have seen many surprises on the downside. We may now be seeing surprises on the upside. When we enter a big news day, there are no valid support and resistance levels. The best way to trade such days is to either take options positions or wait for the news to be over then take a position.
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