Yearly view

2-1-2011

Hi,

Wish you happy new year. I wish for all who reads my blog or follow my trading ideas, a very very good earning year.

Last week was important week, in which market was break up important level of 6040 on closing basis.

During the month of December Market had gained almost 400 points. As I have mentioned earlier, since 2001, Nifty had always closed up in the month of December. So FI will be out of Market, sale vigorously have proved wrong and once again History repeats itself has proved to be true.

Ideas for 2011

So far as 2011 is concern, it looks very good year. Nifty is in uptrend since June 2009 on quarterly basis, since March 2010 on Monthly basis, and Since June 2010 on weekly basis. So we can say that One can be in up trend for the year if Nifty is not close below 5600 on closing basis.

We may see new highs up to 6700 levels if we break historical high of 6357 levels. As I have said above below 5600 levels we may see 5000 -4900 levels again.

So trading range according to me for the year is 5600 to 6700 during the year i.e 500 points above and below the current levels.

Monthly Review

History since 2001 - Nifty had closed up for 4 times and closed down for 6 times. From 2008 at least trend of January month is down trend. Nifty had gone up in initial stage of the month but it has wiped out all gains of December. So history is not good January month.

We may see effects of quarterly results on the market, which will be declared in the month.

But so far as charts are concern, Nifty is in up trend on monthly basis till Nifty is not violating 5870 levels on closing basis.   

Weekly Review

Nifty at present is in up trend on weekly basis. Nifty is in Uptrend till it is closed above 5982 levels in this week. Nifty has break up one of it’s important level in last week, so we may see up move in at least in earlier part of the week.

Summary   

Yearly – Up Trend till Nifty is above 5600 on closing Basis.

Monthly – Up Trend till Nifty is above 5870 on closing basis.

Weekly  - Up trend till Nifty is above 5982 levels.

Global Indications:

During last week there was a Christmas vacation. So we have not seen flat movement in USA and European market.    

Today morning ASIAN markets are trading in greens. KOSPI Up by 15 points, Taiwan up by 31 points.

Singapore Nifty is up by 4 points.

Today’s Call

Last week I have picked up Siemens to buy at 809 for a target of 836 it has almost achieved it’s target and had a high of 828. I have also suggested Bajaj Hindustan at 120 levels for short term and it has reached 124.50 levels during the week.

Today I have not picked up any share but have a close watch on Sarda Engineering. It looks very good.

Please write your suggestions and ideas.

Thanks       

Lackluster week

27-12-2010

Hi,

Wish you all happy earnings for the day.

Last week was important week, in which market was range bound with positive bias.

China has increased interest rates by 25 point basis, which may affect commodity prices particularly metals and steel. But it looks that Asia has ignored the effects of rate increment by china.

Global Indications:

USA – Europe Markets were closed on Friday, so we have no clues from USA- Europe at least. But if we see on weekly basis Nasdaq and S&P are trading at 2 years’ higher level since last 4-5 weeks.   

Today morning ASIAN markets are trading in greens except Hangseng. Nikki is up by 46, Kospi is up by 5 points and straits is up by 7 points.

Singapore Nifty was down up to 16.50 points, but at 8.00 am it has covered all it’s lost ground and is trading at previous close point.

Today’s Call

1.      Bajaj Hindustan looks very good above Rs. 120 for short term i.e. for 5-7 days. Current price of the share is Rs. 117.70, one can trade for 2 to 5% returns from present levels. In Medium term it may reach up to 140 levels if it is closed above Rs 121. SL is Rs. 113.

2.      Buy Siemens at Rs. 809.50. Target is 836 and SL is 790.  

Weekly Review

This week is very important week as it will be expiry week for December 2010 and also for the year 2010. Market was able to close above 6000 levels. If it crosses 6040 levels on closing basis than we may reach at recent highs of 6350 levels. But until we cross this level be cautious in trade. Please book profits at each rise. 

Please write your suggestions and ideas.

Thanks       

Imporatnt week for Direction

19-12-2010

Hi

Happy Trading for coming week. Week starting from 20^th December 2010 will be most important week. Nifty in last week has moved up by 66 points only. We have seen no major breaks in last week. Nifty has not breached recent low of 5690 and had made low of 5721 which is a good sign for moving up. But Nifty has major resistance at 6040 levels or we can say that recent high on 6^th December 2010 i.e. 6069 is crucial level for nifty.

One should not go for long unless Nifty closes 6040 levels – decisively.

If we consider recent high of 6^th December 2010 at 6069 levels and recent low of 10^th December 2010 at 5721 levels and take a retracement nifty has retraced up to 61.8% level which comes to 5950 levels. On last day of week nifty has closed at 5948 levels i.e. exactly at 61.8% retracement level. So closing of Nifty on Monday and Tuesday will decide the fate of the weeks to come. If it close above 5950 levels than it will definitely try to touch recent top of 6069 levels making double top position. Nifty may take pause near to this level and than may take decisive move.

So please watch Nifty on Monday and Tuesday very closely. Levels of 5721, 5950, 6040 and 6070 are very important levels to watch for any trading/ investment decision.

In last week I have picked up two shares mainly i.e. Reliance and Wipro. Wipro has almost achieved it’s target and Reliance is still above 1040 levels and may cross it’s target of 1080 very soon.

6040 level is important level now.

Watch Tata Steel for trading purpose and it may go up to 680 levels.

Thanks and please give your reviews.

Nifty at Important level

14-12-2010

Hi,

Wish you all happy earnings for the day.

Yesterday market has bounce back and nifty was closed at 5907. Initially market was down and one time it looks like that it will break down and may move towards 5700 levels. But in afternoon it has recovered smartly and was able to close nearly 50 points up.

Global cues are mixed today morning.

Global Indications:

USA – Dow Jones was up by 18 points where as Nasdaq was meagrely down by 12 points. FTSE and CAC were closed in green. Europe has closed in greens.

Today morning ASIAN markets are trading in narrow range. Nikki is up by 0.08, Hnesang is upo by 68 points, Kospi is up by 5 points.

Singapore Nifty is down by 9 points.

Today’s Call

Yesterday I have given Buy call for Wipro at 450 for a target of 480 in 2-4 week’s time, SL is 420, which still hold good. 

Have a eye on burger paints and hexaware computer. Have a watch on Reliance too, it is very near to break out point and is heading towards 1100 levels. If we see today reliance holds 1040 levels than it will touch 1100 levels within short time.  

Today is very important day for nifty. Nifty initially may move up and than we may see some profit booking at higher range i.e. 5950 to 5980 levels.

Summary is if you want to buy wait for clear indications please!!!!!!!!!!!!.

Please write your suggestions and ideas.

Thanks       

Wait for Clear Indications!!!!

13-12-2010

Hi,

Wish you all happy earnings for the day.

In Last week NSE has drifted down by 135.45 points or 2.26% and was able close at 5857.35.

In last week, Market was down in first four trading sessions and than on Friday, there was a pull back rally.

In Last week Indian market was underperformer as compared with global market. Global markets were not that much week as Indian market was. We can say that market is not taking cues from global market in short term.

This week is also we may see again tough war between bears and bulls. Important level for upward move is 6040 level. I once again reiterate that confirm uptrend will start in market only after market is closing above this level. Till that point one can sale at every bounce.

So far as down trend is concerned recent low of 5690 is very important level. If market breach this level on closing basis than probabilities of going down up to 5550 levels will increased.

Global Indications:

As i have said in upper para, global cues are not that much of important in recent time for Indian markets.

USA was in greens on Friday and almost all asia is trading marginally in greens at 8.00 AM.

Singapore Nifty is trading 5 points down

Today’s Call

Buy Wipro at 450 for a target of 480 in 2-4 week’s time. SL is 420.  

Summary is if you want to buy wait for clear indications please!!!!!!!!!!!!.

Please write your suggestions and ideas.

Thanks

Not good time for bottom fishing

10-12-2010

Hi,

Wish you all happy earnings for the day.

Global Indications:

Global cues, particularly from USA flat. Yesterday night, Dow Jones was down by only 2 points and Nasdaq was up by 7.50 points and S & P Was up by 4.72 points. Asian market is trading down marginally. SGX Nifty is trading down by 22 points.

Global indications are flat yesterday. No clear cut indications are there from global market. 

Market is not uptrend till low of nifty is not above 6040. If Market violates 5690 low on closing basis than it may go down till 5550 – 5580 levels.

Today no picks.

Summary is that wait for bottom fishing please!!!!!!!!!!!!.

Please write your suggestions and ideas.

Thanks       

Fight is ON - without clear winner

08-12-2010

Hi,

Wish you all happy earnings for the day.

Global Indications:

Global cues, particularly from USA are not encouraging. Yesterday night, Dow Jones was up by more than 50 points but in the end it has closed down by 3 points. Asian market is trading up with marginal gains. SGX Nifty is trading down by 31 points.

Global indications are flat yesterday. No clear cut indications are there from global market. 

USA – Europe

On Monday, Dow Jones down by 3 points, , Nasdaq up by 3 points, S & P down  by 0.6 points, FTSE up by 33 points, DAX  up by 43 points appx.

Nikki +98, Kospi + 3, Strait + 4, Hengseng  -Untouch, Shanghai -1

Singapore nifty is trading down by 31 points.

Battle between bears and bulls is going on at it picks and no clear cut indications of winning either. So stay away from market till definite trend of market is clear.

Market is not uptrend till low of nifty is not above 6040.

Yesterday I have picked up Tata Steel and Glenmark Pharma for trading. Both had increased by 1%.

Today no picks but previous picks hold good.

Summary is that wait for clear cues to trade in the Market.

Please write your suggestions and ideas.

Thanks