Trading strategy for 4th August 2010

#1
Trading strategy for 12th April 2010

TRADING STRATEGY FOR 12TH APRIL 2010
(Based on technical by O P AGARWAL)



Markets close on buoyant note

The Sensex continued it’s up move for the ninth straight week, gaining another 240 points to close the week at 17933 after hitting and crossing the 18K level for the first time after more than two years primarily on sustained buying by foreign funds. The Nifty too remained north bound adding 71 points, to close at 5,361 from last weekend's close. Expectations of good fourth quarter corporate results kept the market sentiment in good spirit throughout the previous week. The overall sentiment indicates buoyancy although a definite trend would emerge by the major Q4 results that will start rolling out from this week onwards. The cues from the global markets and the crisis at Greece may also play a key role in deciding the future market trend. Further, FIIs have pumped in more than Rs 24,000 crore in the equity market during the current year mainly post Budget, according to SEBI's data. Meantime, food inflation rose to 17.70 per cent for the week ended March 27, fuelling expectations that the apex bank may further tighten rates in its annual monetary policy next week on April 20. Readers are advised to remain vigil and watch the trend carefully before building fresh positions.

NIFTY FUTURE (Last close 5364.90)
The counter closed the week gaining about one percent amid moderate volatility and intra week swing of over 100 points. The counter has maintained it’s up move for the ninth straight week. The counter appears overbought and hence profit taking at higher levels is not ruled out. The NF this week may remain in the range of 5305-5419, break above may take NF to 5446/5477, or else break below NF may slip to 5269/5234. For today’s trading the NF to maintain it’s up move needs to trade and remain above 5382.75 whereby it may further move up to 5406/5429. Strong support for the NF exists at 5337.25 which if breached decisively with volumes then NF may slide to 5316/5289.


DCHL FUTURE (Last close 160.55)
The company is a media company but with IPL franchisee purchased around 500 crores in 2008, the valuation of which has increased more than three fold with the last auction of Pune and Cochin teams between Rs 1500 and Rs 1700 crores. Moreover, IPL appears an attractive opportunity for the franchises owing to its proven ability to attract significant advertising revenue. Further, the company’s net profit rose 202 % to Rs 77.67 crore in the quarter ended December 2009 as against Rs 25.67 crore during the previous quarter ended December 2008. Meantime, the stock after consolidation during the previous week closed with about 4% gain amid high volumes. The stock appears positive on charts and may move up to 165/167 once it trades and remains above 161.50. Strong support for the stock exists at 158.50.

FORTIS HEALTH FUTURE (Last close 170.60)
The company is engaged in healthcare services having network of hospitals which includes multi-specialty as well as super-specialty centers. The company reported net profit of Rs 12.40 crore in the quarter ended December 2009 as against net loss of Rs 1.67 crore during the previous quarter ended December 2008. The company besides other acquisitions in the past recently acquired nearly 23.9% strategic stake in Singapore-based healthcare group, Parkway Holdings from TPG Capital (formerly Texas Pacific Group), in an off-market deal, estimated to be around USD 685.3 million. The company holds a bright future. Meanwhile, the stock of the company after slipping more than 10% during the past six trading sessions appears to be consolidating at current levels and appears positive. The stock may move up to 175/178 once it trades and remains above 171.50. Strong support for the stock exists at 167.50.

BPCL FUTURE (Last close 508.25)
The stock of the company is languishing in the past owing to delay in commissioning of the Bina refinery, slower completion of captive power plant and decline in net profit for the quarter ended December 2009. The stock however, after remaining subdued during the past one week appears to be consolidating at current levels. The stock shows a positive formation on charts and may move up to 515/519 once it trades and remains above 509.75. Strong support for the stock exists at 505.50.

DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades


Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
 
#2
Trading strategy for 13th April 2010

TRADING STRATEGY FOR 13TH APRIL 2010
(Based on technical by O P AGARWAL)


Markets close lower on profit taking

The market opened flat yesterday but slipped to days low in early trades itself on concerns about the spat between regulators SEBI and IRDA on the ULIP issue. The markets however, thereafter recovered around early noon on buying in front line stocks but failed to sustain at higher levels and slipped back again in the red. The market showed a modest recovery during the closing hours but finally wound up the session in the negative. PSU stocks together with capital goods, auto, banking and power stocks remained subdued and closed weak. The Sensex, after declining to 17,816 in late afternoon trade, closed the day at 17,853, losing 80 points, while the Nifty closed at 5339 with a loss of 22 points after touching a low of 5324 in intra day trades. The market breadth remained positive as out of 2968 stocks traded on BSE, 1583 stocks moved higher. 1302 stocks declined and 83 stocks ended flat. Meantime, according to the data released yesterday by the government, industrial output rose 15% in February from a year earlier whereas January industrial output remained unchanged at 16.7%. Capital goods rose 44.4% on year, while consumer durable goods output grew by an annual 29.9%. Manufacturing production rose 16% in February from a year earlier, while mining output was up 12.2% and power generation rose 6.7%. Growth of the six key infrastructure sectors slowed to 4.5% in February against a robust 9.4% in January, prompting market participants to think over the continuity of higher economic growth. The industrial output which grew slower than expected in February may further decline following moves to withdraw any economic stimulus. Readers are therefore advised to trade with caution and avoid taking fresh position until clear trend emerges.

NIFTY FUTURE (Last close 5343.80)
The counter after flat opening yesterday failed to sustain at higher levels and slipped to days low in early morning trades. The counter, however, in subsequent trades recovered to move in to the positive territory which too remained short lived and the NF again slipped on selling pressure. The counter finally closed the session losing 21 points with negative bias. The NF may slide further to 5305/5280 once it trades and remains below 5326.25. Strong resistance for the NF exists at 5362.75 which if crossed decisively with volumes then NF may move up to 5382/5397.



PIRAMAL HEALTHCARE FUTRE (Last close 465.50)
The company is one among the top ten pharmaceutical contract-manufacturing firms in the world deriving major revenue from its contract research and manufacturing services (CRAMS), followed by healthcare solutions and diagnostics. Over the past years, it has been on an acquisition spree. The company holds a bright future in the pharma segment. Meantime, the stock after surging more than 13% in a short span of six trading sessions witnessed profit taking yesterday and closed in the red losing over its previous close. The stock may slip further to 457/452 on profit booking at current levels once it trades and remains below 463.75. Strong resistance for the stock exists at 471.75.

MOSER BAER FUTURE (Last close 76.30)
The company manufactures storage media for data applications and audio/video applications. The company reported net profit of Rs 3.23 crore in Q3 December 2009 compared to net loss of Rs 25.65 crore in Q3 December 2008. Meantime, the company is expanding in other related areas too and the recent contract for solar farm awarded by Mahagenco, a government of Maharashtra power generation company is one example of such endeavour. Meantime, the stock of the company, after consolidation during the previous week closed flat yesterday with positive bias. The stock appears positive on charts and may move up to 78/81 once it trades and remains above 76.90. Strong support for the stock exists at 75.00.

NAGARJUNA FERTILSERS FUTURE (Last close 32.05)
The stock is moving sideways for the past one week with good volumes. The stock closed flat yesterday with positive bias. The stock appears positive on charts and may move up to 34/36 once it trades and remains above 32.25. Strong support for the stocks exists at 31.25.

DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades


Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
 
#3
Trading strategy for 15th April 2010

TRADING STRATEGY FOR 15TH APRIL 2010
(Based on technical by O P AGARWAL)



Markets close flat

The market after opening weak on Tuesday last remained subdued throughout the session moving in a narrow band with low volatility. The market saw a jump in IT stocks after the release of Infosys results in the opening hours of Tuesday. The index too recovered shedding some of its earlier losses as IT stocks traded positive. .Power stocks made handsome gains along with IT stocks whereas auto, banking and oil & gas stocks edged lower. Finally, the Sensex settled at 17,821after touching a low of 17,736. The Nifty too ended with minor loss of 16 points at 5322. IT bellwether, Infosys Technologies posted a consolidated net profit after tax and minority interest of Rs 16,170 million for the quarter ended March 31, 2010 as compared to Rs 16,130 million for the quarter ended March 31, 2009, decline of 0.25%. Meantime, the market breadth remained negative with 1,372 advances against 1,550 declines. The market trend appears undecided and hence, investors are advised to trade with caution.

NIFTY FUTURE (Last close 5329.60)
The counter after weak opening on Tuesday last moved subdued throughout the session in a narrow band with low volatility. The counter finally closed in the negative with marginal loss. The counter to make an up move needs to trade and remain above 5344.75 whereby it may move further up to 5363/5384. Strong support for the NF exists at 5305.25 which if breached decisively with volumes then NF may decline to 5286/5268.


PANTALOON RETAIL FUTURE (Last close 411.70)
The company owns and operates retail stores throughout India that cater to a wide cross-section of the Indian society. It operates Big Bazaar, Food Bazaar, Central and Pantaloons. The companys net profit rose 51.1% to Rs 50.67 crore on a 25.4% rise in sales to Rs 1912.84 crore in Q3 December 2009 over Q3 December 2008. Meantime, recently Fitch upgraded Pantaloon's rating which reflects PRIL's improved liquidity position following its Rs 500 crore equity infusion in November 2009, a part of which has been used to reduce debt." It further said despite a challenging operating environment PRIL continues to report higher sales growth and better operating profits, relative to its peers. Meantime, the stock after consolidation closed on Tuesday last with positive bias gaining marginally. The stock appears positive on charts and may move to 416/419 once it trades and remains above 412.75. Strong support for the stock exists at 409.75.

RENUKA SUGAR FUTURE (Last close 70.55)
The company is a fully integrated manufacturer of sugar, power and ethanol. It produces refined sugar for direct consumption and industrial usage in Europe and Africa. The companys net profit jumped 1827.7% to Rs 194.70 crore on 270.4% surge in net sales to Rs 1253 crore in Q1 December 2009 over Q1 December 2008. Meantime, the stock after consolidation during the past week closed on Tuesday last with positive bias with marginal gain. The stock appears positive on charts and may move up to 74/77 once it trades and remains above 71.00. Strong support for the stock exists at 69.75.

BEL FUTURE (Last close 1944.30)
The company is a major defense PSU enterprise whose turnover increased 13.2 per cent to cross over Rs 5,000 crore in the 2009-10 fiscal as compared to Rs 4,624.09 crore during 2008-09. The estimated profit before tax is Rs 1,086 crore (provisional) for the fiscal year ended March 31, 2009, against Rs 1,096 crore in the same period last fiscal. The order book is estimated to be around Rs 11,350 crore as on April 1, 2010. The stock of the company however, lost favour of the market and declined more than 13% within a short span of seven trading sessions but it appears to be consolidating at current levels. The stock may move up to 1958/1969 once it trades and remains above 1948.75. Strong support for the stock exists at 1934.75.

DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades


Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.

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#4
Trading stategy for 16th April 2010

TRADING STRATEGY FOR 16TH APRIL 2010
(Based on technical by O P AGARWAL)



Markets slide on late hour sell off

The market opened firm yesterday on strong global cues and remained steady till early noon when signs of sell off in front line stocks appeared which dragged the markets lower. With the increase in intensity of selling, possibly on profit taking, in the later part of the afternoon trades the market moved in the red making days low during the closing hours. Besides profit taking by the market participants after recent highs, apprehension of a rate hike by the RBI too contributed to the market's slump yesterday. The data released by the government yesterday showed prices of food articles jumped 16.65% last month while those for primary articles rose 14.1%, and manufactured products was up 7.13%. The continuous higher inflationary trend, experts believe, may force the apex bank to revise key rates at its meet next week on the 20th April 2010. The Sensex, after rising to 17,975 in early trades, closed the session at 17,639, slightly off the day's low, losing 182 points. The Nifty after making a high of 5373 and a low of 5265 in intra day trades finally closed the day at 5273 with a loss of 49 points. Auto, metal and PSU stocks closed substantially lower from their days high on selling pressure whereas oil, bank, capital goods and FMCG stocks ended with sharp losses. The market breadth remained negative yesterday as out of 2999 stocks traded on BSE, 1708 stocks closed lower. 1222 stocks gained and 69 stocks ended flat.

NIFTY FUTURE (Last close 5277.30)
The counter after gap up opening yesterday on strong global cues remained steady till early noon when NF pared its earlier gains on sustained selling in front line stocks. The pace of sell off having intensified during the closing hours, the NF presumably on profit taking, slipped faster and took support at 5268, an exact level indicated in these columns yesterday. The NF thereafter recovered a bit but finally closed near its days low signifying weakness of the counter. The NF may slide further to 5244/5223 once it trades and remains below 5256.25. Strong resistance for the NF exists at 5311.75 which if crossed decisively with volumes then NF may move up to 5331/5352.



HIND UNI LEVER FUTURE (Last close 224.80)
The stock after moving with positive bias during the past three trading sessions making higher tops and higher bottoms closed yesterday with marginal gain and good volumes. The stock appears positive on charts and may move up to 227/229 once it trades and remains above 225.25. Strong support for the stock exists at 222.20.

OPTO CIRCUIT FUTURE (Last close 225.15)
The stock after consolidation during the past few trading sessions traded with very high volumes during the past two sessions signifying informed buying at current levels. The stock appears positive on charts and may move up to 229/232 once it trades and remains above 225.75. Strong support for the stock exists at 222.50.

ORIENTAL BANK FUTURE (Last close 329.00)
The banking stock after remaining steady and range bound during the past six trading sessions closed yesterday with negative bias losing marginally over its previous close. The stock may witness further slide on profit taking at current levels and may slip to 323/319 once it trades and remains below 327.25. Strong resistance for the stock exists at 332.75.
DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades


Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
 
#5
Trading strategy for 19th April 2010

TRADING STRATEGY FOR 19TH APRIL 2010
(Based on technical by O P AGARWAL)



Markets cautious ahead of RBI policy meet

The market last week closed in the negative on profit taking in front line stocks and the over two month rally was snapped. The stocks belonging to the financial and power /energy sector remained laggards and closed weak. The Sensex, which surged over 2,000 points, between the first week of February and April 9, finally closed last week at 17,591 losing around two percent. Meanwhile, market participants expect that the RBI may further tighten monetary policy to contain inflation at its meet tomorrow. The apex bank may also hike key policy rates by at least 25-basis-points and expected to revise requirements on bank lending to the real estate sector. Further, investors will be keenly watching the progress of monsoon this year and await the forecast by the Meteorological Department which is usually made in the second half of April after considering weather observations globally. Major corporate Q4 results this week will also be crucial to set the trend of the market. Meantime, FIIs remained buyers of equity and have invested more than 25K crores this calendar year.

NIFTY FUTURE (Last close 5263.05)
The counter closed the week losing over 100 points amid high volatility and intra week swing of more than 130 points. The counter witnessed profit taking at higher levels through out the previous week owing to nervousness among the investors ahead of RBIs meet tomorrow. The NF this week may remain in the range of 5156-5328, break above NF may move up to 5354/5385 or else break below may take the NF to 5135/5109. For todays trading one may buy NF on dips keeping a short term stop of 5197 or intermediate stop of 5169.


MPHASIS FUTURE (Last close 663.65)
The company provides application services, business process outsourcing (BPO) services and infrastructure technology outsourcing (ITO) services. The company recently acquired remote IT solutions provider Fortify Infrastructure Services which will facilitate access to marquee customers, an experienced management team, a talent pool highly specialized professionals and a proven platform to provide ROM services. The latest acquisition serves as a testimony that the company is aggressively seeking new frontiers of growth. Meantime, the stock of the company closed the week gaining about three percent with high volumes. The stock remains positive on charts and may further move up to 669/677. The stock may be bought at dips with strict stop of 654.25.

UNION BANK FUTURE (Last close 303.60)
The banking stock closed the week flat with marginal gain amid intra week swing of over 5%. The stock remained steady through out the previous fortnight but showed weakness on the Friday last on profit taking and closed with negative bias. The stock may slide further to 296/292 once it trades and remains below 301.60. Strong resistance for the stock exists at 306.25.

DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades


Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
 
#6
Trading strategy for 20th April 2010

TRADING STRATEGY FOR 20TH APRIL 2010
(Based on technical by O P AGARWAL)



Markets close lower on profit taking

The market closed lower yesterday for the fifth successive session on the back of weak global cues. The market participants preferred to book profit at current levels and avoided fresh buying at lower levels. The market witnessed selling across the board almost throughout the session yesterday. The news doing the round about fraud charges against Goldman Sachs by the SEC impacted the world markets yesterday. However, Goldman Sachs said the charges were completely unfounded in law and fact. The stocks belonging to the reality and metal were the worst sufferers. The Sensex after dipping to a low of 17276 in early afternoon trade managed to recover in mid session but finally closed in the negative at 17400 losing 190 points. The Nifty too slipped to a low of 5160 and closed the day at 5203 losing 58 points. The market breadth remained weak as out of 3021 stocks traded on BSE, 1953 stocks closed weak. 950 stocks posted gains and 118 stocks ended flat. Further, the market will be keenly watching the RBIs monetary policy to be announced today. It is widely believed that the apex bank will raise key rates to contain inflationary trend. Readers are advised to trade with caution and avoid building excessive position till clear market trend emerges.

NIFTY FUTURE (Last close 5207.40)
The counter as expected opened gap down yesterday on weak global cues and drifted lower till early noon when after taking support at the intermediate level indicated in these columns yesterday, the NF showed a sharp recovery on hectic buying in front line stocks. The counter thereafter remained firm till the closing hours but finally closed the session in the negative with a loss of 55 points. The NF to gain further strength needs to trade and remain above 5217.75 whereby it may move further to 5239/5278. Strong support for the NF exists at 5174.50 which if breached decisively with volumes then NF may slide to 5151/5127.



STERLITE FUTURE (Last close 814.95)
The company is India's largest non-ferrous metals and mining company with interests and operations in aluminum, copper, zinc and lead and power. Meantime, the stock declined sharply to a low of 808 yesterday after a recent high of 890 made on the 9th April2010 on weak global demand. The stock however, appears a buy at current price and may move up to 821/827 once it trades and remains above 815.75. Strong support for the stock exists at 807.75.

INDIABULL REAL ESTATE FUTURE (Last close 163.80)
The company is engaged in construction and development of real estate. It includes promotion, construction, development and sale of townships, residential and commercial property. The stock of the company after remaining range bound during the past week closed flat yesterday with high volumes but with positive bias. The stock appears positive on charts and may move up to 169/172 once it trades and remains above 165.75. Strong support for the stock exists at 161.25.

DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades

Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
 
#7
Trading strategy for 22nd April 2010

TRADING STRATEGY FOR 22ND APRIL 2010
(Based on technical by O P AGARWAL)



Markets end flat with cautious optimism


The market opened gap up yesterday on strong global cues and remained range bound in early morning trades. The market however, witnessed some profit taking around early noon when the indices drifted lower but picked up in the closing hours. The market finally closed in the positive with marginal gains. The Sensex closed at 17472 gaining a paltry 11 points and the Nifty closed with marginal gain of 0.3% at 5244. The stocks from the infra, banking and auto sectors were major gainers prominent among them were ICICI Bank, Tata Motors, Jaiprakssh Associate, etc., Investors are keenly watching the remaining corporate Q4 results which may help to set the market trend. Meantime, with the corporate earning picking up globally and reporting robust results market sentiment has improved substantially currently. The readers are however, advised to keep a stock specific approach for the time being.


NIFTY FUTURE (Last close 5245.15)
The counter after gap up opening yesterday remained range bound in early morning trades but witnessed profit taking in early noon session when the NF drifted lower but it picked up later in closing hours. The counter finally closed in the positive albeit with paltry gain. The NF to continue its up move needs to trade and remain above 5256.75 whereby it may move up to 5269/5286. Strong support for the NF exists at 5226.25 which if breached decisively then NF may slide to 5206/5182.



VIDEOCON INDUSTRIES FUTURE (Last close 242.20)
The stock after consolidating during this week closed yesterday above its short term moving average with high volumes. The stock appears positive on charts and may move up to 247/251 once it trades and remains above 243.25. Strong support for the stock exists at 237.00.

MCLEOD RUSSEL FUTURE (Last close 250.55)
The stock after remaining range bound during the past few trading sessions closed yesterday gaining over 2% with high volumes. The stock appears positive on charts and may move up to 255/259 once it trades and remains above 251.75. Strong support for the stock exists at 246.25.

DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades


Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
 
#8
Trading strategy for 23rd April 2010

TRADING STRATEGY FOR 23RD APRIL 2010
(Based on technical by O P AGARWAL)



Markets close lower after late hour sell off



The market after opening gap down yesterday on weak global cues remained range bound in early morning trades when a sudden bout of buying led by State Bank and Reliance Industries pushed the indices to days high in intra day trades. The market sentiment appeared so bullish that infra and reality stocks remaining laggard too moved up sharply cutting across various sectors. The rally was so strong that it lifted the Sensex by over 300 points to 17778 around mid afternoon. However, the market witnessed heavy selling pressure at higher levels during the closing hours and the indices pared a substantial part of its earlier gains at close. The Sensex finally closed gaining 101 points at 17573 whereas the Nifty which rose to 5331 in intra day trades closed at 5269 gaining 24 points. The market breadth, which remained strong during the major part of the session appeared flat to marginally positive at close as out of 2997 stocks traded on BSE, 1493 stocks closed higher. 1401 stocks declined and 103 stocks ended flat. Readers are advised to trade with caution in view of high volatility witnessed in the market.


NIFTY FUTURE (Last close 5265.40)
The counter after gap down opening yesterday on weak global cues moved range bound in early morning trades when a sudden buying in front line stocks led by the SBI and Reliance pushed the NF to days high at 5341 around mid afternoon. The counter however, witnessed profit booking at higher levels and pared a substantial part of its earlier gains and slipped back. The NF finally closed with marginal gain amid high volatility and intra day swing of more than 100 points. The counter to gain strength needs to trade and remain above 5304.75 whereby it may move up to 5329/5351. Strong support for the NF exists at 5224.25 which if breached decisively with volumes then NF may slide to 5197/5175.



ONGC FUTURE (Last close 1013.15)
The stock after remaining subdued during the past few trading sessions closed yesterday with positive bias making a high of 1029 in intra day trades amid very high volumes equivalent to more than three times its monthly average. The stock however, shed its earlier gains amid general sell off in the market and closed with marginal gain. The stock appears positive on charts and may move up to 1022/1028 once it trades and remains above 1015.75. Strong support for the stock exists at 1003.25.

RELIANCE CAPITAL FUTURE (Last close 743.20)
The stock after remaining range bound during the past three trading sessions closed yesterday above its short term trend line with high volumes. The stock appears positive on charts and may move up to 751/759 once it trades and remains above 745.75. Strong support for the stock exists at 739.25.

DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades

Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
 
#9
Trading strategy for 26th April 2010

TRADING STRATEGY FOR 26TH APRIL 2010
(Based on technical by O P AGARWAL)



Markets close with cautious optimism


The market posted modest gains during the previous week despite apprehensions that the rate hike by the apex bank may prove a deterrent for the markets. The RBI hiked the Repo, Reverse Repo and CRR rates by 25 basis points at its monetary policy meet last week on 20 April 2010. The hike in CRR is effective from 24 April 2010 while repo and reverse repo rate hikes were made effective immediately. After the hike, the CRR will increase to 6%, the repo rate to 5.25% and the reverse repo to 3.75%. Further, the corporate Q4 results so far have been fairly encouraging. Meantime, the prediction by the Indian Meteorological Department of a normal monsoon, having rainfall of 98% of the long-term average augurs well for boosting the market sentient. The markets however, may remain volatile this week owing to the April derivative series expiry on Thursday. The action in the market may remain stock specific. Readers are also advised to remain stock specific while trading and wait for a clear market trend.

NIFTY FUTURE (Last close 5305.00)
The counter closed the week with modest gain of less than one percent amid high volatility and intra week swing of more than 175 points. The buoyancy of the counter was maintained owing to sharp gains made by the banking sector coupled with Reliance. The counter this week may remain in the range of 5215-5364, break above NF may move further up to 5392/5428 or else break below may drag the NF to 5181/5148. For todays trading the counter to gain strength needs to trade and remain above 5320.75 whereby it may move up to 5341/5364. Strong support for the NF exists at 5288.25 which if breached decisively with volumes then NF may slide to 5264/5241.


FORTIS HEALTHCARE FUTURE (Last close 167.80)
The company is engaged in healthcare services having network of hospitals which includes multi-specialty as well as super-specialty centers. The company reported net profit of Rs 12.40 crore in the quarter ended December 2009 as against net loss of Rs 1.67 crore during the previous quarter ended December 2008. The company besides other acquisitions in the past recently acquired nearly 23.9% strategic stake in Singapore-based healthcare group, Parkway Holdings from TPG Capital (formerly Texas Pacific Group), in an off-market deal, estimated to be around USD 685.3 million. The company holds a bright future. Meantime, the stock after remaining subdued closed the week gaining around 3% with high volumes. The stock appears positive on charts and may move up to 174/178 once it trades and remains above 169.50. Strong support for the stock exists at 163.75.

RANBAXY FUTURE (Last close 455.90)
The stock after remaining subdued closed the week gaining over one percent with average volumes. The stock appears positive on charts and may move up to 463/469 once it trades and remains above 457.75. Strong support for the stock exists at 452.25.

DEAR READERS,
PLEASE WATCH THE MARKET TREND AND USE YOUR
OWN DISCRETION BEFORE TAKING A TRADE.
Protect profits with trailing stops and cut losses fast.
Avoid adding contracts in loss making trades
 
#10
Re: Trading strategy for 26th April 2010

How the markets will react to RIL results? That has to be seen.

Also some statements coming from Europe indicates positive sentiment boosting risk appetite.

Market may go down first reacting negatively to RIL result and then after 12:30 , market will trade like FTSE trades !
 

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