Dow Jones Tonight For May 30 - Viral Joshi

Dow Jones pivot is 12,660 and support 12,510.

S1 12,620; S2 12,580; S3 12,510; and R1 12,660; R2 12,680; R3 12,720/12,800;

Dow is positive above 12,660 and negative below 12,640.

Nifty Spot - Where will it Go?

Please refer to the posting of May 26, " When a pull back is expected". The potential areas were 4749 and 4610, with all the ups and downs, it is inching toward the first pullback level of 4749. This is the buying zone and it may happen in next week any time. Banking stocks are in last leg of fall - may be it will end today. Keep watching

Nifty Future May 30 - Viral Joshi

PIVOT : 4885 SUPPORT : 4800

S1 4830; S2 4820; S3 4800; and R1 4885; R2 4920; R3 4950/5014;

Buy above 4885 and if breaks 4920 then 4950-5014;
Shor below 4820 and if breaks 4800 then 4780-4750;

Daily moving average:

5DMA 4887;
20DMA 5043;
50DMA 4911;
200DMA 5213.

Nifty Update for May 30 - Close Watch on RSI - Inder Bhatia

The Indian market closed in the red. The gap-up opening touched 4950 resistance, and the market saw a U-turn. In the final trading session, the Nifty was down 85 points. 4800-4775 is crucial support on the upside, where 4950 will act as strong resistance. On the hourly chart the Nifty has made a low but RSI was inching up.

HOT STOCK: WELSPGUJ

Market Update for May 30 - Kailash Pareek

Before posting views, I would like to refresh what I posted on May 9.

"Today (Friday)'s fall was indicated in the last two posts on my blog. In my view, the worst is still not over. But, there is a pattern in progress which is overall bullish.The 1st support for Nifty spot is 4970–75, but I don’t think it will be able to hold. The 2nd support is 4875-80. While this is a better one, my experience says it does not seem well for this level too. The 3rd is 4775-80 now, and this is what I am looking for. So, we may see some more downside, but remember we are still in bull run, in long run. According to the pattern, Nifty has to stay above 4700. For me, this is the point I don’t want Nifty to break. "

Now, Nifty is near the magic figure of 4775-80. Any close below this would puncture the overall bullish pattern discussed on May 9. We could also see a huge selloff intraday, should this level be broken.

Stocks to trade:

SUZLON - Short below 272.50; T1 263; T2 251;
INDIACEM - Short below 154.25; T1 151; T2 145;
CROMPGREAV - Short below 220; T1 113;

As market will be very volatile because of Left Front meeting on petrol price hike, as well as weekly inflation numbers. Try and book profit intraday.

Dow Jones Tonight for May 29 - Viral Joshi

Dow Jones Pivot is 12,550 and support is 12,450.

S1 12,580; S2 12,550; S3 12,480; R1 12,620; R2 12,650/12,680; R3 12,720;

Above 12,580 positive;
Below 12,550 negative.

How Far will the Bears Run Today?

The bears are banking on the resistance at 4941 which is a gap resistance. But, bulls are known to be extremely vigilant about such levels, and if they manage to get an open above 4950, bears have just one protection, that of our old 200 HMA, which is at 4990-5005.

Too many bears were expecting a vertical crash yesterday and today, and since the May series will expire today, they will be forced to cover their shorts. This 'force' of short covering will alone determine whether 5000 level is able to be crossed intraday.

If one is long, keep trailing. Don't book at predetermined targets. Trailing stoploss holds the key today.

Nifty Future For May 29 - Viral Joshi

Pivot for Nifty Future is 4900 and support 4850.

S1 4920; S2 4900; S3 4880; AND R1 4950; R2 4980; R3 5014/5050;

Buy Nifty Future above 4920 and if it breaks 4950 then 4980-5014;
Short below 4900 and if breaks 4880 then 4850-4820;

Daily moving avgerage:

5DMA 4925
20DMA 5061
50DMA 4912
200DMA 5211

As I said May 27, "5014 Will Be The Next Resistance". Check it out today, it will be achieved.

Nifty Update for May 29 - Inder Bhatia

The Indian market closed in the green with handsome gains. The markets saw smart recovery towards the final trading session. In the forthcoming sessions, if Nifty crosses 4940, we could see more upside toward 5007-5032. However, on the lower side, 4883-4840 will act as strong support. Banking and IT sector can seen more.


HOT STOCK: TATASTEEL

LIC Housing Finance - Ready to Shoot

LIC Housing Finance has retraced from an upmove, and is in a 4th wave on the hourly chart. Currently in a down channel, but any crack of 344 can be taken as a signal to buy. 320 can be used as a stoploss. The immediate target should be about 375. Above 380, it can test the previous top of 402, which was its all-time high.

LIC Housing has indeed been acting quite contrary to other stocks in FNO. It is the only stock which reached 10% lower than its all-time high at Nifty 6300. This in itself is a commendable performance by the stock.

Dow Jones Tonight For May 28 - Viral Joshi

The pivot for Dow is 12,525 and support is 12,450.

S1 12,525; S2 12,480; S3 12,450; and R1 12,585; R2 12,600; R3 12,625;

Dow is positive above 12,530 and negative below 12,525 .

Doublers - Viral Joshi

The following stocks are doublers in the next 6 months. Do not miss.

ISPAT, ASIANELEC, SPICEJET, SWANMILL, HFCL, PFC, MRPL, PETRONET.

Nifty Future For 28 May,2008 - Viral Joshi

The pivot for Nifty future is 4885 and support is 4800.

S1 4850; S2 4800; S3 4780; and R1 4920; R2 4950; R3 4980/5005;

Buy Nifty future above 4885; if it breaks 4920 then 4950-5005. Short Nifty future below 4880; if it breaks 4850, then 4830-4800.

Daily moving averages:

5DMA 4965;
20DMA 5070;
50DMA 4911;
200DMA 5208.

Sail Futures - Sell

In my previous post on this blog " When a Pullback is Expected " I mentioned about the gapdown opening on sensex chart. This gap is not filled today. So assuming that the market
may fall further is there any opportunity to make good amount of money ? Yes, enlarge the chart-Targets are self explanatory. Red brush marks are potential target areas. Trade with caution and must use stoploss.

Nifty Updates - Bears in command below 4950 - Inder Bhatia

The Indian markets closed on a red note. All of Nifty's gains vanished again in the afternoon session and it closed near about day's lows. As the Nifty has broken 4940, it is under selling pressure and has shifted to the lower band of 4650-4930. The market will react more on global cues and act accordingly. On lower side 4800-4850 will act as support zone, and on the upper side 4940 will act as strong resistance.

Dow Jones Tonight for May 27 - Viral Joshi

The pivot for Dow Jones is 12,485 and support 12.400.
S1 12,460 S2 12,420 S3 12,400;
R1 12,485 R2 12,500 R3 12,550/12,620;
Above 12,485 positive and below 12,450 negative.

Nifty Future for May 27 - Viral Joshi

The pivot for Nifty future is 4885 and support 4800.
S1 4880 S2 4850 S3 4800 .. R1 4920 R2 4950 R3 4980/5005.

Buy Nifty future above 4885. If it breaks 4920 then we can expect 4950-5005.
Short Nifty future below 4880. If it breaks 4850 then we can expect 4830-4800.

5DMA 5014;
20DMA 5083;
50DMA 4909;
200DMA 5206;

Above 5014 will be the next resistance.

Nifty Update for May 27 - 4914 Key Level for Bulls - Inder Bhatia

The Indian market closed in deep red due to heavy selling pressures across the sector indices. Nifty open below major support 4910 and closed below it. If Nifty crosses 4914-4924 some upside can seen on lower side. 4850-4800 is good support for bulls. Markets are likely to remain choppy and volatile ahead of expiry of may series.

HOT STOCK: TCS and SUNPHARMA.

When a Pullback is Expected - Anil Desai

Gapdown opening and subsequent lower closing suggests Sensex is in strong bear hands. However, the pullback rally is expected at aroun spot 15775 (Nifty 4749) or 15330 (Nifty 4610). Take caution while tading.

U-Turn is Possible on Nifty if 4800 Holds - AP

Yesterday's update still holds true. Watch the band between 4800-4858 for a U-turn on our markets tomorrow. If this happens, we can see a good rally in coming days.

One interesting observation again today. All intraday charts in Nifty spot show 4861.9 as the intraday low. However, data shows 4858 as low? Was someone desperate to get this low on the charts? What is the significance of this figure? How does it show up on the EOD (end-of-day) data if it did not show during trading hours? Food for thought!

A recap of what was said over the weekend:

I can see 2 scenarios, as mentioned on the chart.

• Nifty can take support either at 4910-4915, or finally at 4800-4810.
• If 4800 does not hold (quite unlikely), then we would head toward 4470 and 4200.
  

If 4910 holds, we might see a good bull run, which if 5200 is crossed, can go all the way up to 5925 (in few weeks, not days).

Dow Jones Weekly May 26-30 - Rakesh Chandra

Dow Jones is oversold on the hourly and daily charts. After a relief rally, fresh selling will continue.

The pivot, lower target and upper targets are valid for this week only. Dow is bullish above weekly pivot point of 12,521.50 and bearish below pivot point of 12,422.50.

For the upwave, we have Dow Jones targets of 13,102 - 12,941 - 12,682.
For the downwave, we have Dow Jones targets of 12,262 - 12,003 - 11842.

Why I Feel We Have Bottomed Out for the Week - AP

Buy Nifty May 4900 CA - AP

Buy Nifty May 4900 CA near 55-60, and sell on Wednesday at 10.30 AM

More Hot Calls - Inder Bhatia

GITANJALI: Buy above 310 TGT 317 >325 Stoploss 305;

ICICIBANK: Sell below 859 TGT >850>844 Stoploss 867.

Tashan from Bulls and Bears - May 26-30 - Inder Bhatia

HOURLY CHART: The Indian market closed on a deep red note, after giving up all its initial gains and broke the trendline 4993, closing near the day's low. On the hourly charts, we are trading in band 4650-4930 and upper band 4940–5300. If broken and closing below 4910 again we will move in the lower band channel.

DAILY CHART: Last week, Nifty lost 4.01 percent, and broke the lower trend channel. Below 4910 we could see more weakness. On the street, no clear trend can be seen from last four weeks. The index has been gaining one week and losing another. A control-tight tashan is going on between bulls and bears. If Nifty closes below 4910, it could test 4833 > 4796 on the upper side, and if it closes above 5020, it could test 5087 to 5162.

WEEKLY CHART: On a weekly basis, we are rangebound. Around 4650 is the lower level and 5400 is strong upper strong resistance level. For the last four weeks, we have seen the balance of power shifting from bulls to bears and back.

Hot Calls for May 26-30 - Inder Bhatia

KOTAKBANK: Sell below 700 TGT 688 > 682 Stoploss 707.


BHARTIAIRT: Buy above 843 Tgt 854 >871 >890, Stoploss 833.

Nifty Future for May 26-30 - Rakesh Chandra

Nifty future on the hourly charts is now trading a 3rd downwave. An extended 3RD down will complete and then a small 4th upwave. Again a 5TH downwave will be on cards. Just obey the levels given; the upper and lower targets are for this week only.

WUT = weekly upper target;

UPWAVE (4-5) WUT3 : --5,148;
UPWAVE (2-3) WUT2 : --5,097;
UPWAVE (0-1) WUT1: --5,016;

Price is bullish above weekly pivot point of 4,965.82;
Price is bearish below weekly pivot point of 4,934.78.

WLT = weekly lower target;

Down Wave (0-1) WLT1 : ---4,885;
Down Wave (2-3) WLT2 : : ---4,803;
Down Wave (4-5) WLT3 : ---4,753.