Punj Lloyd - Ugly Bottom Reversal - Inder Bhatia

Buy PUNJLLOYD 267 TGT 275>277 Stoploss 256

Edelweiss - Short-term Buy - Inder Bhatia

Edelweiss is showing a divergence on chart and a W pattern (also called ugly bottom). It has also broken out of a downward trend and a move to the upside is possible within a few days.

Buy Edelweiss at 639 TGT 647 >661 Stoploss 621.

Dow Jones Tonight for June 13 - Viral Joshi

Pivot for Dow Jones is 12,140 and support 12,000.

S1 12,120; S2 12,080; S3 12,020; and R1 12,140; R2 12,200; R3 12,280;

Above 12,140 Dow is positive and below 12,120 Dow is negative.

Nifty Future for June 13 - Fast Recovery Possible - Viral Joshi

The pivot is 4500 and support 4350.

S1 4480; S2 4450; S3 4420/4400; and R1 4525; R2 4550; R3 4650;

Buy above 4500 and if it breaks 4520 then 4550-4610-4650;
Short below 4500 and if it breaks 4480 then 4450-4420-4400.

Daily moving average:

5DMA 4528;
20DMA 4809;
50DMA 4894;
200DMA 5233;

If Nifty sustains above 5dma i.e 4528, then a fast recovery is expected on screen toward 50dma i.e 4894, in few days.

Nifty Update for June 13 - Buy Nifty for Target 4639 - Inder Bhatia

The Indian market closed in the green zone. A smart recovery after a gap down opening was welcomed by traders and investors. The IIP growth for the month of April 2008 stood 7 percent,which was lower than 11.3% in the corresponding month of the previous year. However, this was perceived as positive since it was better than 3.9% in March 2008. Nifty is seen making an inverted head and shoulder pattern on the hourly chart. If Nifty crosses 4550, it could test 4639. On the lower side 4470-4370 will act as strong support.

Buy Nifty for target 4639.

Hope you profited from Sasken and Aptech intraday. Stay profitable.

Aptech - Intraday - Inder Bhatia

HOT STOCK: Buy Aptech, Target 220>230, Stoploss 206.

Sasken - Intraday - Inder Bhatia

HOTSTOCK: SASKEN, Buy 124, Target 133, SL 118.

Market Outlook - Viral Joshi

Due to a banking selloff Dow Jones fell. A recovery is expected from 12,000 level which should take it toward 13,000. Our market is going to open gap-down, due to negative global effects. However, it will bounce back from the bottom. Expect a big rally in realty, as RBI did not do a CRR hike, instead opting for an internal adjustment of repo rate hike of 25 basis points or 0.25 percent.

The repo rate hike would checkmate rupee depreciation, which means a weaker US dollar, which is good for oil companies although bad for IT. This will be good for markets, because FII money will have more value. The government is being cautious in increasing repo rate before bad inflation numbers, to escape the ire of the communist party and the common man. IIP data also released today.

Dow Jones Tonight for June 12 - Viral Joshi

Pivot is 12,125 and support 12,000.

S1 12,080; S2 12,050; S3 12,000; and R1 12,125; R2 12,155; R3 12,200.

Above 12,125 Dow is positive and below 12,080 Dow is negative.

Nifty Future for June 12 - Viral Joshi

Pivot is 4500 and support 4350.

S1 4480; S2 4450; S3 4400/4350; and R1 4520; R2 4550; R3 4610.

Buy above 4500 and if it breaks 4520 then 4550-4610;
Short below 4500 and if it breaks 4480 then 4450-4400-4350.

Daily moving average:

5DMA 4556;
20DMA 4833;
50DMA 4902;
200DMA 5231.

Nifty Future for June 12 - Do We have a Reversal?

The behavior of the Nifty from the afternoon of the June 10, where it recovered about 100 pts from the day's low, and today, June 11, is: Has the days of downtrend reversed?

For this, let us examine two different software, each of which shows two different counts of waves. On studying these two counts, we ask whether they both differ, and which one is telling the truth.

My opinion is that as a matter of fact, both counts are telling the same story. The chart on the left is in continuation of the chart posted yesterday. Not much has changed since yesterday. The targets are almost remains the same. Moreover, it shows downtrends on all counts of waves.

The chart on the right may differ, on the count of waves, but it too tells the same story, that more downside is left . The buying zone predicted by this software is around 4180 to 4240, which confirms the targets given in the previous posts.

This is the time to stay away and not to adventure going long unless the indicators confirm the reversal. One or two upward bounces do not make a reversal.

Nifty Update for June 12 - Inder Bhatia

The Indian market closed in the green. Overall, the markets saw smart gains due to continuous buying across the board. However, the fact remains, that any rally will be a pullback rally. If Nifty is able to sustain above 4537-4540, we may witness further upside 4600-4640 levels.

Dow Jones Tonight for June 11 - Viral Joshi

Pivot for Dow is 12,285 and support 12,150.

S1 12,255; S2 12,225; S3 12,180; and R1 12,300; R2 12,350; R3 12,420;

Above 12,285 Dow is positive and below 12,260 Dow is negative.

Nifty Future - Intraday - Will a Short Deliver a Few Points?

Intraday conditions for a short have been built. We see that Nifty future has not been able to penetrate the morning's top, and has hovered around here for a bit. The question to ask is are we in a 3-minute w4 and hence at close we would break up to complete a five wave pattern. So, will a short here deliver a few points for an intraday trader.

We see the -DI (Red) has crossed over the +DI (Green), but the ADX (Blue) is still not strong enough to assure us that the trend is going to be a strong one. Perhaps waiting and watching this for another 6-9 minutes would help.

The RSI has started to move down; RSI is a leading indicator and a directional move on the RSI is usually followed by the price. All of this gets negated if Nifty future breaks upward and an intraday w5 starts. However, below 4475 - Nifty future is a clear shorter's dream.

Nifty Future - Intraday - Conditions for Longs

Excellent conditions for long were visible this morning on Nifty Future 3-minute chart, that encouraged long trades for intraday only. Overall, the trend is still bearish, and unless we close above yesterday's highs one cannot expect to take overnight longs.

Nevertheless, watch the ADX and see the point at which the +DI crossed upward over the -DI, and ADX started to gain strength. Remember ADX is only a strength indicator and not direction. Which means, whichever way the trend may be (indicated by the DI lines), the blue ADX merely tells the strength.

Check how the RSI has shown divergence with the Nifty future price. These were conditions that built a case for intraday longs.

On a moving average basis (values that are analyst AP's secret), any retracement of this rise is a buy, provided stop losses are maintained, and further on an Elliot wave, the 3-minute charts have just above completed the wave 3.

Nifty Future for June 11 - Viral Joshi

Pivot 4420 and support is 4350

S1 4450; S2 4400; S3 4380/4350; and R1 4480; R2 4500; R3 4550/4610;

Buy above 4450 and if it breaks 4480 then 4500 - 4550 - 4610;
Show below 4420 and if it breaks 4400 then 4380 - 4350.

Daily moving averages:

5DMA 4568;
20DMA 4855;
50DMA 4908 ;
200DMA 5229.

Nifty Future for June 11 - Do Not Go Long - Anil Desai

Beware if you are thinking of going long in Nifty futures. My opinion is that every rise is an opportunity to sell. Enlarge the chart and check the targets and exits. As usual the red brush marks are targets. Only a miracle or sudden change in global scenerio only can save the downfall.

Sensex for June 11 - Inder Bhatia

The Indian markets succumbed to the red. It made a new low after opening on a weak note. The global cues were weak and hence mayhem followed in the Indian markets, as selling pressure became visible across the board in all sectors. Pharma was the exception though. The Sensex took support around 14677 with good volume.

For the Nifty, if it sustains 4460-4480, then a test of 4521 -4537 is expected. On the lower side 4370 will act as support zone. The 2.30 factor will be important tomorrow.

Gold for the Week June 9-13 - Rakesh Chandra

Pivot, lower target and upper target is valid for the current week only.

Upwave (4-5) WUT3 : 935;
Upwave (2-3) WUT2 : 927;
Upwave (0-1) WUT1: 913.

Price is bullish above weekly pivot point 903.87 and bearish below weekly pivot point 898.53.

Downwave (0-1) WLT1: 890;
Downwave (2-3) WLT2: 876;
Downwave (4-5) WLT3: 867.

Dow Jones Weekly for June 9-13 - Rakesh Chandra

Pivot, lower target and upper target valid for the current week only.

Upwave (4-5) WUT3: 12,643;
Upwave (2-3) WUT2: 12,532;
Upwave (0-1) WUT1: 12,353.

Price is bullish above weekly pivot point 12,242.19 and bearish below weekly pivot point 12,173.81.

Down wave(0-1) WLT1: 12,063;
Down wave(2-3) WLT2: 11,884;
Down wave(4-5) WLT3: 11,773.

Crude Oil for June 09-13 - Rakesh Chandra

Pivot, lower target and upper target are valid for current week only.

Upwave(4-5) WUT3: 154
Upwave(2-3) WUT2: 150
Upwave(0-1) WUT1: 143

Price is bullish above weekly pivot point 139.10;
Price is bearish below weekly pivot point 136.55.

Weekly down target:
Down Wave(0-1) WLT1: 132;
Down Wave(2-3) WLT2: 126;
Down Wave(4-5) WLT3: 122.

Nifty Future - Intraday - Significant Bottom Cracked

Nifty future has now cracked the significant intraday bottom and and is heading downward. The ADX has also started to climb. Where are we headed now? Is 4354 a target?

Nifty Future - Intraday - Do We Bounce from Here?

The ADX shows that although still in downtrend, the trend is weakening intraday. On the Nify future chart itself, we have a small intra-day double-bottom forming. The question to ask is at this point, do we see a intraday bounce? Will 4415 and 4400 hold, or will we crack through and slide further? Most likely case is a bounce.

Dow Jones Tonight For June 10 - Viral Joshi

Pivot is 12,255 and support is 12,150.

S1 12,255; S2 12,225; S3 12,180; and R1 12,300; R2 12,350; R3 12,420;

Above 12,280 positive and below 12,255 negative.

Nifty Future for June 10 - Viral Joshi

Pivot is 4480 and support is 4400.

S1 4480; S2 4450; S3 4420; and R1 4500; R2 4550; R3 4620;

Buy above 4480 and if it breaks 4500 then 4550-4620;
Short below 4480 and if it breaks 4450 then 4420-4400.

Nifty Update for June 10 - Inder Bhatia

The Indian market closed deep red due to heavy selling pressure. Today the market reacted very badly to global cues, like the crude oil price spiking above 139$ a barrel. Nifty opened gap down below 4500. Nifty made a new low, breaking the trend line, but managed to close above it. If we open gap up tomorrow and sustain, then 4650-4700 level can be seen, in the forthcoming session. However, breaking below 4420, more weakness can seen

Nifty Spot - Where will it be Today - Anil Desai

Huge gap down opening of Nifty cash is expected. Target 4479 ? Pls do not venture shorting.

Dow Jones Tonight for June 9 - Viral Joshi

Pivot for Dow Jones is 12,280 and support is 12,100.

S1 12,200; S2 12,150; S3 12,100; and R1 12,255; R2 12,300; R3 12,350;

Above 12,280 Dow is positive and below 12,200 Dow is negative.

Nifty Future for June 9 - Viral Joshi

Pivot for Nifty future is 4660 and support 4450.

S1 4550; S2 4500; S3 4480/4450; and R1 4600; R2 4620; R3 4650;

Buy above 4640 and if it breaks 4680 then target 4700-4710;
Short below 4640 and if it breaks 4620 then 4550-4450.

Nifty Update for June 9-13 - Inder Bhatia

HOURLY CHART: The Indian market closed on a deep red note. The market saw some sharp cuts at the end of session. Inflation for the week ended May 24 came in at 8.24 percent. On the hourly chart we are near major support of 4468. Breaking below it, Nifty can test 4370 on the downside, while on the upside 4731 will act as strong resistance.

DAILY CHART: Last week Nifty lost 4.98 percent and closed near the day's low. We are near a major support of 4468-4500. Breaking this important level could see a move toward 4400-4265. As the Dow Jones has closed weak on Friday, a full impact on Nifty would be seen on Monday. Last week, 4934 was given as a key resistance level, but the Nifty was not able to cross 4752, which is also a key resistance; if Nifty had managed to close above it, we could see 4827-4911. On the lower side 4566 -4380 would act as a support zone.

WEEKLY CHART: We are still rangebound at lower levels of 4650 and 5400 upper strong resistances level. If we close below 4650 we can see lower levels 4468-4375 and major red line 4003.

HOT STOCK: SELL EDUCOMP

Nifty Future for June 9-13 - Rakesh Chandra

Seeing the huge down in the Dow Jones, there is no need to add an commentary. It is clear which way we are heading. Weekly upper target = 4723. The weekly pivot point is 4,636.78). Price is bearish below 4893.22.

DOWN WAVE(0-1) WLT1: 4,497;
DOWN WAVE(2-3) WLT2: 4410/4,356;
DOWN WAVE(4-5) WLT3: 4,269.

Nifty Analysis for June 9 - Tanmoy Ghosh

Nifty spot closed at 4627.80 and crude on Saturday (13:55 IST) was 138.14. Some selloff may come on Monday, but also a recovery is anticipated. There will be huge velocity only above 4661.85, with a trailing stoploss of 4590.60. Below 4590.50, the target would be 4539.50, and if further cracked downward, a huge selloff can be expected. Above 4662, the target is 4715.25/4748.25. Above this level, a strong resistance is 4802.50. Do not expect a good move before June 8. However, after June 12, a huge bull could come, for a weekly target of 4970 or 5158.