Daily Trading strategy

[opagarwal]

Trading strategy for 17th July 2009

TRADING STRATEGY FOR 17TH JULY 2009
(Based on technical by O P AGARWAL)


Markets end flat on profit booking

The market opened on a buoyant note yesterday on strong overnight U S markets. However, the market could not sustain at higher levels under selling pressure and slipped in the red around early noon. The market thereafter once again attracted investors interest and rallied smartly but it too remained short lived and fizzled out on profit booking. The markets finally ended flat with marginal loss. The Sensex, which made a high of 14,493 and a low of 14169 yesterday after opening with a positive gap of nearly 100 points ended the session at 14,250 with marginal loss of 2 points. The Nifty closed at 4231, with a loss of 2 points. The Nifty touched a high of 4305 and a low of 4205 yesterday. Stocks of consumer durables, auto and oil fared well but stocks of power, bank, metal and realty pared their earlier gains and ended subdued. The market witnessed profit booking at every rise and therefore, readers are advised to trade with caution and wait for a clear market trend.

NIFTY FUTURE (Last close 4224.85)
The counter after gap up opening yesterday on strong global cues remained range bound during the first hour of trade but thereafter slipped in the red amid high volatility and bouts of buying and selling intermittently. The counter witnessed selling pressure at higher levels yesterday and finally closed the session marginally lower losing 12 points. The counter to gain strength needs to trade and remain above 4257.75 whereby it may move up to 4296/4342. Strong immediate support for NF exists at 4192.25 which if breached decisively it my slip further to 4176/4147.

MPHASIS FUTURE (Last close 367.60)
The company provides application services, business process outsourcing (BPO) services and infrastructure technology outsourcing (ITO) services and is 60.83% owned by US-based Electronic Data Systems Corporation, a unit of Hewlett-Packard Company. Meantime, the companys net profit rose 2.95% to Rs 192.90 crore in Q2 April 2009 over Q1 January 2009 despite economic slowdown worldwide. Further, a block deal constituting 0.25% of equity changed hands on 14th July 09 at around 368. Meantime, the stock is moving range bound for the past few trading sessions with varied volumes. The stock appears positive on charts and may move up to 374/379 once it trades and remains above 368.75. Strong support for the stock exists at 364.75.

BHARTI AIRTEL FUTURE (Last close 784.15)
The company is the biggest provider of telecom services in India and is a pioneer in deploying innovative operational models, having achieved an industry first recently by partnering Ericsson and Nokia Siemens to manage its networks and IBM for its IT management. Meantime, the stock of the company is moving range bound for the past four trading sessions with high volumes. The stock closed yesterday with positive bias and may move up to 792/798 once it trades and remains above 784.75. Strong support for the stock exists at 779.25.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.


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.

 

[opagarwal]

Trading strategy for 20th July 2009

TRADING STRATEGY FOR 20TH JULY 2009
(Based on technical by O P AGARWAL)


Global cues and Q1 results trend decider

The market ended the week with an impressive gain of more than 9% after the investors felt a turnaround in the economy in the near future as government stimulus packages and initiatives on disinvestment are under active consideration. Meantime, the remark by finance secretary that the finance ministry will introduce seven bills in Parliament, including proposals for pension and banking reforms and efforts to raise the foreign investment limit in insurance companies lifted the market sentiment on Friday afternoon with hectic buying in frontline stocks. The statement by the finance minister that the country aims to return to fiscal prudence at the earliest and that the government looks to cut fiscal deficit to around 4% by fiscal 2012 sent strong enough signals for the bulls to get back into the business. Further, the market will be closely watching the development of RIL-RNRL case being heard today in the Supreme Court. Meantime, Q1 results of companies, to be announced in the next few days, prominent among them being Wipro, BHEL, ONGC, Maruti, HDFC, ACC, Dr Reddy's, Ranbaxy may also impact the markets. However, global cues and FIIs role will remain crucial for the market trend and therefore, readers are advised to trade cautiously with proper stops since any weakness in the global markets could trigger selling at home markets.

NIFTY FUTURE (Last close 4381.50)
The counter opened the previous week in the negative and after dipping to a low of 3906, absolutely near the weekly range indicated in these columns on the 13th July 09 bounced back and closed the week gaining a whopping 387 points amid high volatility and intra week swing of around 500 points. The counter has turned positive on weekly charts and may remain range bound between 4287-4536, break above NF may move up to 4587/4632 or else break below NF may slide to 4228/4169. For todays trading NF may move up to 4452/4478 once NF trades and remains above 4402.75. Strong support for NF exists at 4339.25 which if breached decisively NF may slide to 4310/4290.

PTC FUTRUE (Last close 88.00)
PTC provides power-trading services through purchase from surplus utilities and sales to deficit ones. It catalyses the development of power projects and is also the identified nodal agency for cross border trading and exchange of power with the neighboring countries. It has cross border operations in Nepal, Bhutan and Bangladesh. The company expects power trade volumes for FY10 to be higher than FY09, which was at 13.8 billion units, which itself was a 40 percent increase from FY08, as per its chairman Mr. Thakur. Meanwhile, the stock after moving range bound closed the week gaining more than 4% with high volumes. The stock appears positive on weekly charts and may move up to 92/94 once it trades and remains above 88.25. Strong support for the stock exists at 86.25.

SINTEX FUTURE (Last close 190.00)
The company is one the manufacturers of plastic products and solar water heaters. The company announced financial results for the first-quarter, reporting a higher net profit, despite fall in revenues, due to passing of lower commodity prices. The company has meantime added a new plant in Chennai in its subsidiary Bright Auto Plast targeting global automotive OEM's for under the hood components. The recent government initiatives towards slum rehabilitation, urban decongestation and attracting long-term investments for infrastructure and power sector, reiterates long-term growth opportunities for the company. Further, fresh orders of Rs.190 crore were in pipeline for rural housing as per company sources. Meantime, the stock is moving sideways for the past three trading sessions and appears to be consolidating at CMP. The stock may move up to 198/203 once it trades and remains above 192.75. Strong support for the stock exists at 186.25.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.
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.

 

[opagarwal]

Trading strategy for 21st July 2009

TRADING STRATEGY FOR 21ST JULY 2009
(Based on technical by O P AGARWAL)


Markets may consolidate after profit booking

Markets remained strong yesterday on the back of strong global cues and better than expected Q1 results. IT stocks remained the star performers yesterday together with realty, bank, oil, metal and capital goods. Select PSU, power and telecom stocks were in demand while FMCG stocks remained subdued during the entire session. The Sensex, which surged past the 15,000 mark in early trade, retraced slightly after that, but spectacularly recovered once again and rose to 15,209 in late afternoon trade. The Sensex finally ended the day at 15,191 with a massive gain of 446 points or 3.03%. The Nifty closed at 4502.25 with a gain of 127.30 points. In intra-day trades, the Nifty made a high of 4510. Markets have surged quite high during the last few sessions and some correction on profit booking is not ruled out at higher levels and therefore, readers are advised to watch the market trend before taking large positions.

NIFTY FUTURE (Last close 4510.15)
The counter kept its momentum extending earlier weeks gains and closed 128 points higher amid moderate volatility. The counter to maintain its upward surge needs to trade and remain above 4546.75 whereby it may move further up to 4567/4588. Strong support for the NF exists at 4472.25 which if breached decisively NF may slide to 4453/4419.

SCI FUTURE (Last close 127.80)
Shipping stocks were on a downtrend in the recent past mirroring the drop in the BDI, which dropped by over 30% to 2,985 on 10 July 2009 from 4,291 on 3 June 2009. The Baltic Dry Index (BDI) is the most popular measure of the cost of hauling dry freight such as coal, iron ore or wheat across the oceans. However, with the uptrend visible in the index as of now, the revenue of SCI may improve substantially in the coming quarters. Meantime, the stock after moving sideways during the past three trading sessions closed yesterday marginally higher with average volumes. The stock appears positive on charts and may move to 133/137 once it trades and remains above 129.25. Strong support for the stock exists at 125.25.

TATA STEEL FUTURE (Last close 387.25)
The company on Monday opened sales of shares to international investors with expectation to raise at least $500 million which, as per market analysts may be offered at a discount thereby affecting the current market price. Meantime, the stock has fared poorly during the past few sessions and closed yesterday losing more than one percent. The stock may see profit booking at current levels and may slide to 381/377 once it trades and remains below 385.25. Strong resistance for the stock exists at 392.75.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.
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.

 

[opagarwal]

Trading strategy for 22nd July 2009

TRADING STRATEGY FOR 22ND JULY 2009
(Based on technical by O P AGARWAL)


Markets close lower on profit taking

Markets failed to extend previous weeks gains and opened flat yesterday and remained subdued throughout the session except couple of bounces which too proved short lived. Several frontline stocks faced selling pressure which affected the market sentiment and investors preferred to lighten their positions by booking profits. IT, power, bank and PSU stocks remained weak whereas realty stocks recovered after an early fall but failed to sustain at higher levels. Metal stocks performed well but oil and FMCG stocks remained subdued. The Sensex, after opening marginally higher dipped below 15000 mark in early noon trades yesterday but after a small recovery closed the session losing 128 points at 15062. The Nifty after making a high of 4524 and a low of 4436 in intra day trades finally closed at 4469 with a loss of 33 points. Markets appear with positive bias and may consolidate at current levels before making further move. However, readers are advised to trade with caution in view of high market volatility.

NIFTY FUTURE (Last close 4473.35)
The counter after marginal gap down opening yesterday shed 36 points on profit taking amid moderate volatility and intra day swing of around 70 points. The counter may remain volatile but to gain further strength NF needs to remain and trade above 4498.75 whereby it may move further up to 4529/4553. Strong support for NF exists at 4448.25 which if breached decisively it may slide to 4422/4391.

CUMMINS INDIA FUTURE (Last close 261.30)
The company manufactures internal combustion engines, including diesel, reciprocating piston, gas turbine and gasoline engines. The company also manufactures generating sets and public transport-type passenger motor vehicles, including luxury coaches and air-field buses. In addition, the company operates a computerized and fully-equipped research and development facility. The company appears well-placed to benefit from the governments thrust on improving infrastructure, with its domestic operations straddling high potential sectors such as infrastructure, road development, telecom, construction, mining, auto and power. The company hopes to a big beneficiary of Jawaharlal Nehru National Urban Renewal Mission scheme, under which the government is aiming to provide improved public transport system in 63 cities since it has already won the Delhi tender for the Commonwealth Games for the supply of engines for 2,500 buses. Meantime, the company enjoys strong balance-sheet with little debt and high cash of Rs 400 crore. Further, the stock after moving sideways during the past four trading sessions closed above its weekly resistance yesterday with high volumes. The stock appears attractive on charts and may move up to 267/272 once it trades and remains above 262.25. Strong support for the stock exists at 259.25.

SINTEX INDUSTIES FUTURE (Last close 197.70)
The company is one the manufacturers of plastic products and solar water heaters. The company announced financial results for the first-quarter, reporting a higher net profit, despite fall in revenues, due to passing of lower commodity prices. The company has meantime added a new plant in Chennai in its subsidiary Bright Auto Plast targeting global automotive OEM's for under the hood components. The recent government initiatives towards slum rehabilitation, urban decongestation and attracting long-term investments for infrastructure and power sector, reiterates long-term growth opportunities for the company. Further, fresh orders of Rs.190 crore were in pipeline for rural housing as per company sources. Meantime, the stock closed the session yesterday in the positive with marginal gain after making a high of 203.70 with high volumes. The stock appears to be poised for break out and may move up to 206/212 once it trades and remains above 198.75. Strong support for the stock exists at 193.25. (The stock was recommended earlier also)

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.
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.

 

[opagarwal]

Trading strategy for 23rd July 2009

TRADING STRATEGY FOR 23RD JULY 2009

(Based on technical by O P AGARWAL)





Markets shed further on profit taking

The market opened firm yesterday and remained strong till noon with the Sensex up by over 300 points at 15369. However, around early afternoon, a strong sell off in front line stocks erased all the earlier gains and the market turned in the red. Market participants preferred to stay away from the market and refrained from taking any fresh positions ahead of RIL Q1 results. Investors dumped HDFC shares despite it reporting a decent surge in earnings and profit in Q1. It appears that market participants are keen in pocketing profit after the recent surge in the markets rather than holding the portfolios. Auto, capital goods and IT shares were the worst sufferers yesterday whereas bank, pharma and metal shares recovered from their days lows and found support at lower levels. The Sensex, closed the session at 14843 losing a massive 219 points despite remaining up by over 300 points in early noon trades. The Nifty after making a high of 4557 and a low of 4380 in intra day trades finally closed at 4398, netting a loss of 70 points. The market breadth turned weak in afternoon trade and slipped in the negative at close. Out of 2704 stocks traded on BSE, 1231 stocks closed with gains. 1374 stocks declined and 99 stocks ended flat. Readers are advised to trade judiciously in view of high volatility in the markets.


NIFTY FUTURE (Last close 4405.15)
The counter after opening marginally higher yesterday maintained its upward momentum till noon when a sustained selling in frontline stocks pulled down the NF in the red by early afternoon trades. NF dipped to a low of 4388, very near to the level indicated in these columns yesterday, losing 180 points from days high of 4569. The counter finally ended the session losing 68 points with negative bias. The counter may slip further to 4358/4323 once it trades and remains below 4382.25. Strong resistance for NF exists at 4452.75 which if crossed with volumes NF may move up to 4469/4487.


TATA TEA FUTURE (Last close 767.15)
The stock is moving range bound with positive bias for the past four trading sessions with moderate volumes. The stock closed yesterday above its weekly buy signal gaining more than one percent despite weak market conditions. The stock appears positive on weekly charts and may move up to 776/784 once it trades and remains above 769.75. Strong support for the stock exists at 761.25.


TTML FUTURE (Last close 35.40)
The company offers CDMA-based services in Maharashtra and Mumbai circles but is expanding to the more popular GSM platform to augment its customer base. Meantime, the stock of the company is moving in a narrow band since past one week and closed yesterday 2% higher with high volumes. The stock appears positive on weekly charts and may move up to 37/39 once it trades and remains above 35.75. Strong support for the stock exists at 34.75.



Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.

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.

 

[opagarwal]

Trading strategy for 24th July 2009

TRADING STRATEGY FOR 24TH JULY 2009
(Based on technical by O P AGARWAL)


Markets witness spectacular recovery

The market opened gap up yesterday on the back of strong Asian cues and surged upward during the session except consolidation around mid noon. The market emerged stronger a little before mid afternoon when several Q1 results, prominent among them being of banking stocks and Maruti, ACC, and ITC were found to be much above the street expectations indicating signs of recovery in the economy. The sentiment was further boosted by the data on infrastructure output for June. Further, the decision to allow FIIs and NRIs to invest in Indian Depository Receipts - guidelines for which were issued by the RBI on Wednesday also aided the upbeat market sentiment yesterday. Meantime, the data released by the government around noon yesterday, inflation declined 1.17% in the year to 11 July 2009, as compared with previous week's annual decline of 1.21%. And finally, the Sensex, with gap up opening of around 165 points yesterday made a high of 15264 before closing at 15231 with an impressive gain of 388 points. The Nifty closed with a gain of 124 points at 4523, marginally lower from the day's high of 4532. The market breadth was strong. Out of 2718 stocks traded on BSE, 1803 stocks moved up and 835 stocks declined. 80 stocks ended flat. However, readers are advised to trade with caution watching the market trend.

NIFTY FUTURE (Last close 4535.05)
The counter after gap up opening on the back of strong Asian markets remained firm throughout the session and closed yesterday above its weekly resistance with a hefty gain of 130 points amid moderate volatility. The counter appears positive on weekly charts and may move further up to 4587/4637 once NF trades and remains above 4563.75. Strong support for NF exists at 4502.25 which if breached decisively NF may slide to 4474/4439.

RANBAXY FUTURE (Last close 275.70)
The company manufactures and markets, generic pharmaceuticals, value added generic pharmaceuticals, branded generics, active pharmaceuticals and intermediates. The company had recently received GMP certificate for its non-sterile manufacturing site located at Dewas, M.P for a period of 5 years and will cover all products that are currently manufactured at this site and that will be filed in the future for Japan. The company further commits to provide high quality generic medicines at affordable prices to its customers and patients in the entire global marketplace. Meantime, the stock of the company has steadily surged more than 10% during the past seven trading sessions and closed yesterday crossing its weekly resistance with high volumes. The stock appears positive on charts and may move further up to 283/289 once it trades and remains above 276.75. Strong support for the stock exists at 271.25. Readers are advised to remain cautious while trading as the company will announce their quarterly results today which may impact the stock price.

NALCO FUTURE (Last close 295.85)
Nalco manufactures and distributes aluminum products having Government holding at more than 87% as per December 2008 data. The company in a recent statement added that a third phase of expansion planned for the bauxite mines, alumina refinery and smelter plant would be done at a cost of 60 billion rupees ($1.25 billion) which would take the company's aluminium capacity to 580,000 tonnes from 345,000 tonnes a year. The company has also augmented the power plant capacity to 1080 megawatts at Angul, Orissas for enhanced power requirement. Meantime, the stock after remaining range bound during the past four trading sessions closed yesterday above its weekly buy signal with good volumes. The stock appears positive on charts and may move up to 303/308 once it trades and remains above 298.50. Strong support for the stock exists at 293.25.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.
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.

 

[aid]

Re: Trading strategy for 24th July 2009

Thanx. Nice analysis.

 

[opagarwal]

Trading strategy for 27th July 2009

TRADING STRATEGY FOR 27TH JULY 2009
(Based on technical by O P AGARWAL)


Markets may remain volatile ahead of F & O expiry

Markets closed the week strong on the back of positive global cues, encouraging infrastructure output data for June and better Q1 results of prominent companies. However, Reliance Q1 net missed the forecasts and was down 11.5 pct on gross refining margin tumbling by 50%, thereby hurting earnings. The company expects to see growth in the next quarters from new refinery and K G D6 wells. But the investors appear to have taken the RILs results a big set back for the markets and a sharp sell off in the market is not ruled out today pulling down the indices. Meantime, F & O expiry this week may add to the volatility in the market and therefore, readers are advised to exercise utmost caution and refrain from large commitments. Stocks of fertilizers, agrochemicals, automobiles, and fast moving consumer goods may attract investors attention in view of improvement in monsoon rains. Global cues and FIIs activities will also impact the trend this week. Meantime, the apex banks monetary policy review to be announced on Tuesday will be keenly watched by the market. Further, a section of market watchers appear fairly upbeat about the markets but one cannot rule out profit taking with the market having run up so sharply over the past few sessions.

NIFTY FUTURE (Last close 4575.75)
The counter closed near its weekly high gaining 193 points amid volatile sessions and intra week swing of more than 200 points. The counter recovered sharply on Thursday last and closed the week steady. The counter may remain volatile this week in view of current series expiring on the 30th instant. NF may remain in the range of 4461-4667 break above NF may move up to 4693/4735 or else break below NF may slip further to 4436/4402. It is expected that the counter may slide on opening on sell off of RIL stock on its dismal Q1 results. NF today may find strong support at 4517.25 which if breached with volumes may further pull down NF to 4498/4475. NF may find resistance at 4617.75 which if crossed decisively NF may move up to 4643/4665.

FINANCIAL TECH FUTURE (Last close 1426.00)
The company develops software solutions used in online trading terminals. For the full year, net profit of the company declined 61.65% to Rs 368.60 crore in the year ended March 2009 as against Rs 961.25 crore during the previous year ended March 2008. Meantime, the stock has surged by 40% during the past nine trading sessions on upbeat market sentiment. However, the stock closed marginally lower on Friday on profit taking. The stock may witness more profit booking at current market price and may slide to 1403/1390 once it trades and remains below 1419.25. Strong resistance for the stock exists at 1435.75.

AXIS BANK FUTURE (Last close 894.55)
The bank provides commercial banking services which include merchant banking, direct finance, infrastructure finance, venture capital fund, advisory, trusteeship, forex, treasury, investment banking, insurance, credit cards, mortgage financing, depository services and other related financial services. Meantime, the stock after moving range bound during the previous week gained 5% but witnessed profit booking on Friday at higher levels. The stock may face more profit taking at CMP and may slide to 881/873 once it trades and remains below 889.25. Strong resistance for the stock exists at 902.75.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.
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.

 

[opagarwal]

Trading strategy for 28th July 2009

TRADING STRATEGY FOR 28TH JULY 2009
(Based on technical by O P AGARWAL)

Markets close flat ahead of RBI credit policy
Markets opened firm yesterday on the back of strong global cues despite street expectation to the contrary on dismal Q1 RIL results. Hectic buying was seen in frontline stocks primarily of realty and FMCG. IT stocks too remained firm on recent reports that British Petroleum may award outsourcing contracts valued at $1 billion next month. The market breadth remained strong with 1672 shares advanced as compared with 985 that declined as per BSE records. Meantime, it is expect that the apex bank to maintain a status-quo on key policy rates at its policy review today in view of sufficient liquidity in the banking sector. The Sensex ended marginally lower yesterday at 15375 after making a high of 15463 and a low of 15228 in intra day trades. The Nifty closed the session marginally higher at 4572. Readers are advised to remain light in view of markets remaining volatile ahead of F& O expiry.

NIFTY FUTURE (Last close 4576.80)
The counter opened firm on positive global cues despite a hefty slide in RIL stock price. Hectic buying in FMCG stocks coupled with selective buying in front line stocks contributed towards market buoyancy. However, the counter finally closed flat amid high volatility and intra day swing of more than 80 points. NF appears positive on charts but to maintain its upward momentum it needs to trade and remain above 4604.75 whereby it may move up to 4633/4655. Strong support for NF exists at 4533.25 which if breached decisively NF may slide to 4516/4495.

IVRCL INFRA FUTURE (Last close 342.15)
The stock after moving range bound during the past week closed yesterday above its short term trend line with good volumes. The stock appears positive on charts and may move up to 348/351 once it trades and remains above 343.75. Strong support for the stock exists at 340.75.

ABB FUTURE (Last close 742.55)
The stock after remaining range bound during the past three trading sessions closed flat yesterday with moderate volumes. The stock appears positive on charts and may move up to 752/759 once it trades and remains above 745.75. Strong support for the stock exists at 739.25.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.
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

.

 

[opagarwal]

Trading strategy for 29th July 2009

TRADING STRATEGY FOR 29TH JULY 2009
(Based on technical by O P AGARWAL)


Markets end flat with cautious optimism

The market opened in the positive yesterday but could not sustain at higher levels due to profit booking. The apex bank in its quarterly review of monetary policy, left the key rates unchanged but raised inflation forecast to 5% for the F Y 2010 leading the market participants to view it with caution. The markets finally closed the session flat with subdued note. The Sensex which dipped to a low of 15240 in early morning trades sharply rallied and recovered to a high of 15463 but finally closed at 15331 losing 43 points. The Nifty ended the session yesterday at 4564 losing a paltry 8 points. The Nifty touched a high of 4599 and a low of 4529 yesterday. Realty stocks were in the limelight after the announcement by the finance minister that a subsidy of one percent will be given on home loans up to 10 lakh for one year. Select PSU, power, metal and auto shares found strong support from the investors. The market breadth was strong yesterday, out of 2745 stocks traded on BSE, 1709 stocks advanced and 945 stocks declined. 91 stocks ended flat. Market volatility may remain high with the F & O expiry tomorrow. Readers are advised to trade with caution with strict stops.

NIFTY FUTURE (Last close 4565.85)
The counter closed flat yesterday with high volumes oscillating absolutely between the levels indicated in these columns. The counter, it appears, faces selling pressure at higher levels as is evident during the past two sessions. However, NF to gain strength needs to trade and remain above 4591.75 whereby it may move up to 4617/4646. Strong support for NF exists at 4529.25 which if breached decisively NF may slide to 4501/4483.

TITAN FUTURE (Last close 1320.30)
The company s shares have been on a steady rise touching a high of 1368 on 27th July 2009 from a recent low of 1077 made on 13th July 2009. The company announced better than expected Q1 results on Monday but the stock saw profit booking and closed lower yesterday with moderate volumes. The stock may find more profit taking at current levels and could slide further to 1298/1285 once it trades and remains below 1314.25. Strong resistance for the stock exists at 1332.75.

RURAL ELECTRIFICATION FUTURE (Last close 179.35)
The stock of the company after remaining sideways during the past three trading sessions closed yesterday above its short term trend line gaining more than one percent with high volumes. The company meanwhile, announced its better than expected Q1 results yesterday whereby profit rose 73.11% to Rs 471.82 crore in the quarter ended June 2009 as against Rs 272.56 crore during the previous quarter ended June 2008.The stock appears positive on charts and may move up to 184/188 once it trades and remains above 180.25. Strong support for the stock exists at 177.50.

Readers may avoid trading in the above recommended stocks
unless, they have risk taking capacity.
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.