Dow Jones for July 14 - Viral Joshi

Pivot is 11,080 and support is 11,000.

S1 11,080; S2 11,050; S3 11,000; and R1 11,150; R2 11,180; R3 11,210/11,280.

Above 11,110 Dow is positive and below 11,080 Dow is negative.

Nifty Future for July 14 - Viral Joshi

Pivot is 4055 and support is 3900.

S1 4000; S2 3950; S3 3900; and R1 4055; R2 4085; R3 4100/4150;

Buy above 4055 and if it breaks 4080 then 4100 - 4150.
Short below 4000 and if it breaks 3980 then 3950 - 3900.

Daily moving averages:

5DMA 4077;
20DMA 4209;
50DMA 4613;
200DMA 5204.

Gulliver and the Lilliputs - Sainik

The markets are at the crossroads now at 4100+ levels on the Nifty. While the bulls are expectant that a significant bottom has been achieved around 3800 levels, the bears are convinced that it's only a matter of time before this breaks and then 3300 will be in focus .

While Infosys has reported better than expected results, this has still has not helped the "bull case". Most market men are expecting inflation numbers and IIP numbers to be lacklustre at best, and horrendous at the worst. The biggest ally for the bulls is not Infosys, not lower inflation numbers or higher IIP numbers, but the one and only Reliance Industries.

For the bulls to rejoice and the bears to scamper, Reliance has to wake up from its deep slumber, a la Gulliver . This is the only prayer that bulls should have on their lips.

While the bears (Lilliputs) are convinced that Gulliver will never wake up, the next few sessions would provide the answer. Currently Gulliver is resting at 2035 levels. His wake-up time is 2070 (not the year, but the pricepoint).

This Claimer: I am on Gulliver's side.

Dow Jones for July 11 - Viral Joshi

Pivot is 11,180 and support is 11,050.

S1 11,180; S2 11,150; S3 11,100; and R1 11,250; R2 11,280; R3 11,310.

Above 11,200 Dow is positive and below 11,180 Dow is negative.

Nifty Future for July 11 - Viral Joshi

As soon as Nifty is above 4120, a pullback rally can seen anytime toward 4400 level. Crude oil is up at $141.70.

For Nifty future, pivot is 4142 and support is 4050.

S1 4120; S2 4100; S3 4050; and R1 4150; R2 4180; R3 4200/4250;

Buy above 4155 and if it breaks 4180 then 4200 - 4250.
Short below 4142 and if it breaks 4120 then 4100 - 4080.

Daily moving averages:

5DMA 4071;
20DMA 4232;
50DMA 4635;
200DMA 5208.

Nifty Update for July 11 - Inder Bhatia

The Indian market closed in the green zone. The market saw negative opening and traded in narrow range through out the session. It did not react to global weakness and traded in a narrow band. For the coming session 4100-4040 will act as strong support zone. On the other side 4266-4290 will act strong resistance zone.

Doubled - Call Option on Satyam - Santosh Gundecha

Please refer my trade in Satyam Computer of July 8.

The trade was as follows:
Buy 480 CA July around Rs 10 with stoploss of Rs 5. Target Satyam cash rate 495 > 510.

This option is already doubled in 2 days (actually yesterday itself). It traded today at high of Rs 23.90 and closed around Rs 20. So what to do next? Wait for our targets of 495 and 510?

Now you can raise stoploss to Rs 10 . Tomorrow is Infosys's results. If it beats expectations (which are now higher due to a weak INR against USD), our option could triple in value (i.e. Rs 30). One can book at Rs 30. If holding multiple lots, book half here.

Cheers.

Options trade in Cairns - Santosh Gundecha

Cairns India has given a falling channel/wedge breakout at 240-241.

Buy Cairn 250 CA July at Rs 9.5o, stoploss Rs 5 ...Max risk Rs 5625.

Cairn can show cash tgt of 265-273 ...Options tgt 20-25 .

Dow Jones for July 10 - Viral Joshi

Pivot is 11,260 and support is 11,000.

S1 11,120; S2 11,100; S3 11,000; and R1 11,180; R2 11,200; R3 11,250.

Above 11,260 Dow is positive and below 11,120 Dow is negative.

Nifty Future for July 10 - Viral Joshi

Pivot is 4110 and support is 4000.

S1 4100; S2 4050; S3 4000; and R1 4150; R2 4180; R3 4200/4250;

Buy above 4150 and if it breaks 4180 then 4200-4250.
Short below 4110 and if it breaks 4080 then 4050-4000.

Daily moving averages:

5DMA 4023;
20DMA 4251;
50DMA 4656;
200DMA 5211.

Hot Stocks for July 10 - Inder Bhatia

Buy LANCO above 324 TGT 334>357 Stoploss 315.

BANKINDIA suggested yesterday hit the target.

Nifty Update for July 10 - Inder Bhatia

Daily Chart: The Indian market closed in the green zone. Market saw a gap-up opening and continued to sustain gains throughout the session. Nifty had seen a breakout from a trading range of 3850-4104 and managed to closed above breakout levels. For the coming session we can see that the Nifty can test 4260-4300 levels. On the lower side 4100 will act as a support zone.

Nifty Futures for July 10 - Santosh Gundecha

Pl refer my articles dated July 9 and July 7. I have stated in my July 9 article that a break of the range will give big move.

Today Nifty future had broken the range on the upper side. So now NF will move northward. But before going up, NF could retest the breakout level of 4100 again and may retrace up to 4075>4045.

However , if international markets and domestic political problems do not play spoilsport, NF can see the targets given in my Monday's report: 4180> 4230 >4330.

Morning Alert: Due to weak US market we may open gap down.

Happy Days are Indeed Here Again - AP

On Monday, much before the market opened, I had hinted at a reversal this week [Happy Days are Here Again]. It was mentioned that 'it is highly likely that the level of 3800-3840 on the Nifty will be protected'.

The results are in front of you.

Not only this, but another big confirmation is an Island reversal. Before you say, 'Oh no, not again,' let me tell you that yes, we do in fact have an Island reversal, but this time it is to the upside.

Readers of this blog are too familiar now with what happens after an island reversal, and how far can one go. For targets, refer the post of July 7, which gave possible upside targets.

For your continuous support, here is a free call: ICICIBANK - Above 649 target 690+.

Educomp - Triangle Breakout - Inder Bhatia

Educomp has broken out of a triangle. Buy EDUCOMP at 2772 TGT 2853>2867.

Sensex 1990-94 and 2004-08 Similar - Anil Gandhi

I have presented a comparison of the economic factors as well as the behavior of Sensex for the years 1990-94 and 2004-08. It is quite astonishing to see the similarities. The Finance Minister then was out current Prime Minister, Manmohan Singh.

Trading Call: Praj - Santosh Gundecha

Praj has a resistance zone at 189-191. So one Short Praj in cash or futures as follows:
Short Praj near 187-188 SL 192 tgts 179>173>168. ( all cash levels)

Bull Market Trendline of 2004 Back - Anil Gandhi

Nifty has landed at a key trendline support which has been supporting this bull run for the last 4 years. So it will be tough to break this support now, with signs or order returning back to the global markets.

Crude is ready to Top Out, and USD is about to start its bull run. Dow is almost bottoming out. Nifty on a weekly basis does not have reason to break the trendline so soon, so fast.

Dow Jones for July 9 - Viral Joshi

Pivot is 11,310 and support is 11,220.

S1 11,300; S2 11,250; S3 11,220; and R1 11,400; R2 11,420; R3 11,450/11,500.

Above 11,350 Dow is positive and below 11,310 Dow is negative.

Nifty Future for July 9 - Viral Joshi

Yesterday the market totally played on the political issues. The Left party withdrew support on the issue of the nuclear deal. Later, cruide came down to 136.06, even as global cues were positive.

Today's opening will be with a gap up and remain positive through the day. If crude sustains below $137, then $120 levels would be seen. The pullback rally may be seen in airline stocks like Jet Airways (JETAIRWAYS), Spicejet (SPICEJET), etc. Keep an eye on such stocks once Nifty crosses 4120 level. The pullback rally would lead Nifty toward 4400.

Pivot for Nifty future is 3920 and support 3900.
S1 3930; S2 3920; S3 3900; and R1 3980; R2 4020; R3 4100/4150.

Buy above 3950 and if it breaks 3980, then 4020-4100-4150.
Short below 3920 and if it breaks 3900 then 3880.

Daily moving averages:

5DMA 4011;
20DMA 4270;
50DMA 4674;
200DMA 5214.

Nifty Future for July 9 - Santosh Gundecha

From last one week we are moving in a range of 3800 to 4100. On daily charts, everyday there is a Black candle followed by White and again Black candle. This daily volatility is because of international markets as well as Big internal Political chaos; and Media is adding fuel to speculation on political front.

Break on either side can give good move (This can happen once certainty/ stability is established on political front). The latest news is PM is in favor of a vote of confidence on July 11. Let's see what happens and how much 'horse trading' takes place.

So again my D-days of July 15-18 (Astro view) appear crucial.

Nifty Update for July 9 - Inder Bhatia

The Indian market closed in the red zone. The market saw a gap-down opening due to global weakness but saw smart pullback from day's lows. After an initial fall Nifty tried to recover but closed in the red. The day saw a lot of stock-specific action. Market is in a trading range with a small band of 3900-4100. Any breakout from these levels can see a clear trend. For the coming session 3900-3850 will act as as a support level. On the other side 4040 will act resistance.

HOT BUY: Buy BANKINDIA which is heading for 251.

Dow Jones Weekly for July 7-11 - Rakesh Chandra

Dow Jones is highly oversold on the weekly scale. It is currently in the 5th wave down. On a daily scale too, it is completing an extended W3. Overall, Dow has to pull back technically in the near term, hence I advise buying Dow futures.

All targets are valid until July 11.

Upwave (4-5) WUT3: 11,510;
Upwave (2-3) WUT2: 11,440;
Upwave (0-1) WUT1: 11,325.

Price is bullish above weekly pivot point of 11,254.80;
Price is bearish below weekly pivot point of 11,211,20.

Down wave (0-1) WLT1: 11,141;
Down wave (2-3) WLT2: 11,026;
Down wave (4-5) WLT3: 10,956.

Options Trade in Satyam - Santosh Gundecha

Satyam Computers had given falling Channel breakout yesterday. It is re testing the breakout levels today. Market is down today due to weak International Markets and LEFT Front Meeting to withdraw support.

Satyam Computer Options can be bought:

Buy 480 CA July at Rs 10 with stoploss of Rs 5. Max Risk is Rs 3000 per lot.

If market sustains (and of course political stability), Satyam can show target of 495 > 510.

Bank of India - Head and Shoulder Bottom

Bank of India (BANKINDIA) has shown surprising strength in the downfall. It did 188, which when you look at the monthly charts is a 61% retracement of the rise from 2001. This is a huge support, and it is unlikely that it will penetrate 182. Any long-term trader could have longed BANKINDIA with 182 as stoploss. Having bounced from 188, Bank of India has shown tremendous strength rallying even in gut-wrenching volatile situation. This shows that accumulation is happening.

Now, let us look at it from a technical perspective. Bank of India appears to be forming a clear Head and Shoulder bottoms, also called the Inverse Head and Shoulder. The left shoulder at bottom is clearly visible, and the head was formed when Bank of India hit 188. Since then a right shoulder appears to be forming. This is an important time to watch Bank of India. A trade can be contemplated with 206 as stoploss, below which the IHS fails and a sharp down can be expected.

Once BankIndia crosses 250, its potential target would be 325, with some resistance at 294. Trade it long above 250, with stoplosses in place, and exit at 294, keeping the rest for 325.

Dow Jones Tonight for July 8 - Viral Joshi

Pivot for Dow Jones is 11,220 and support 11,150.

S1 11,220; S2 11,180; S3 11,150; and R1 11,250; R2 11,280; R3 11,320/11,380;

Above 11,280 Dow is positive and below 11,270 Dow is negative.

Nifty Future for July 8 - Viral Joshi

Yesterday Nifty closed flat at the end, having failed to sustain the morning gains. Crude oil came down to $141.23, due to which we could see some bounce back in the index after a small gap-down opening. Nifty above 4120 would lead a pullback rally.

Pivot is 4020 and support is 3920.

S1 3970; S2 3950; S3 3920; and R1 4000; R2 4050; R3 4100;

Buy above 4020 and if it breaks 4050 then 4100-4150.
Short below 3972 and if it breaks 3950 then 3920-3900.

Daily moving averages:

5DMA 3992;
20DMA 4293;
50DMA 4697;
200DMA 5217.

Dilli Ab Bhi Dur Hai - Nifty Future - Anil Desai

Delhi is still far away. When a tug-of-war is going on between our political parties, how can our market remain a silent spectator? This is evident from last five day's movement in the Nifty future. Looking at charts it seems that everyday a trap is laid, to trade in the opposite direction of the overall weak trend. I would still wait for a clear signal before I trade long - rather I would wait for a signal in any direction. This means Nifty future would have to 4065 on a closing basis, for longs, or trade below 3944 in the southern direction, to trade short. Until then, I would wait till the air is clear to breathe again.

Nifty Update for July 8 - Inder Bhatia

The Indian market closed in the green zone. The market saw a gap-up opening but could not sustain at higher levels and continued to drift lower down, although it managed to close in the green. On the daily chart, Nifty had made an “inverted hammer”. The market is however facing resistance at around 4107. Another factor that is affecting the markets are political in nature, that of the Left withdrawing support. We will see a clearer picture only after July 10, until then it would be a roller-coaster ride.

USD will Define Crude Top - Anil Gandhi

The global equity markets bottom is quite strongly linked to top in crude oil as of now, and crude oil can top out only when US dollar (USD) starts its Bull run again.

Amid talk of a bear run and recession in the US economy, a bull run in USD will move money out of Gold -- for a while considered a safe haven -- and also put a top in crude oil (cheap import of oil in USA). This will be the starting point of stability and the short-term bottom resulting in 2-3 months of uptrend in the equity markets.

I recall how Dow had topped out earliest in October 2007, before rest of world markets had topped out in January, so ideally Dow should bottom out first followed by the rest of the world 's markets. Invest 35 percent of your cash now in frontline stocks. Just 35 percent and not all of it.
and keep adding on more as the uptrend starts and more signals comes in.

Astro Update for July 7 - Santosh Gundecha

As written in one of the my earlier article that Saturn and Mars are in conjunction in astro sign Leo. They will be in exact degrees on July 10-11, 2008. We said 'political uncertanity/chaos will be there till at least July 15 '.

Just now there is a News Flash 'LEFT TO WITHDRAW SUPPORT ON 10th' . So the conjuction is doing its best. ( JK CM also tendered resignation today).
Lets hope dust settles by July 15-18.

RPL Trading Range - Santosh Gundecha

RPL is in a triangle and a breakout on either side can be used to trade.
RPL Trade Range - Above 174 it can show 181-185.
Below 165 it can go to 160-61 and then 153.

Crude Shows Rising Wedge - Inder Bhatia

It's a matter of time before crude crashes. It is making a divergence on the chart and a rising wedge, which is a bearish pattern. In another 15-20 days, crude could touch $148-150, and there it could fall hard to $135-131. Closing below $126 - gone!

Nifty Future for July 7 - Santosh Gundecha

As written earlier on July 4, I had said ‘The political drama continues’. It is still continuing and looks it will go on for some time - at least till July 15, as per our astro guess.

However, this time political situation looks a little different than it used to be earlier especially in crisis. It looks a little better and stable as of now (The silver lining which was visible on July 4 is looking more brighter). But as said earlier ‘nobody can be sure of politicians and take them granted’. But let’s hope for the better, as this is how it looks.

Nifty futures for July 7: If it trades above 3980 it has targets of 4045 > 4080-4100 > 4180.

But if we trade below 3980 we have support of 3940-3910 and then 3870.

For the week, we can see targets of 4230-4330 on the upside and if it moves south (thanks to the political chaos) we have good support at 3810-3750.

I am in favour of buying at dips near supports.

Happy Days are Here Again, Thums Up! - AP

Talking of a broader perspective, it is better to look at weekly charts since the hourly and daily charts show only gloom and doom. The island reversal, which readers might recall was pointed out here, has had the bulls marooned deep sea.

The weekly charts do not show any ray of hope, however, one startling fact stands out. Since May 2, 2008, the Nifty has gone down and closed negative on a weekly basis, and this has now happened for the last 7 consecutive weeks.The next week is a Fibonacci number (8), and a good reason for bulls to show some spine. It is highly likely that the level of 3800-3840 on the Nifty will be protected, and the levels to the upside are as shown on the chart.

A possible final target for an upmove is 4530-4540 in the next few weeks. The level 4740-4750 looks an impregnable fortress as of now, and cannot be crossed so easily. To put in a nutshell, happy days may be here again (middle-aged traders who have seen the old ThumsUp! advertisements would understand).

Dow Jones for July 7 - Viral Joshi

Pivot is 11,280 and support 11,180.

S1 11,270; S2 11,240; S3 11,180; and R1 11,300; R2 11,350; R3 11,380/11,420;

Above 11,280 Dow is positive and below 11,270 Dow is negative.

Nifty Future for July 7 - Viral Joshi

Pivot is 3972 and support is 3920.

S1 3972; S2 3950; S3 3920; and R1 4000; R2 4050; R3 4100

Buy above 3980 and if it breaks 4000 then 4050-4100;
Short below 3972 and if it breaks 3950 then 3920-3900;

Daily moving average:

5DMA 3994;
20DMA 4316;
50DMA 4716;
200DMA 5219.

Nifty Update for the Week July 7-11 - Inder Bhatia

HOURLY: The Indian market closed on a green note. It saw smart recovery at the end of session and closed with handsome gains. For the coming session we can see some more upside to 4098 if Nifty is able to cross 4107. The rally will touch 4174-4224 on the upside; on the lower side, 3960-3848 will act as strong support zone.

DAILY: Last week the Nifty fell down by 2.9 percent. Bears continue to hammer downside at 3848, but managed to close above 4000. On the daily chart, Nifty is making an "inside bar” pattern breakout. Above 4104, more upside cannot be ruled out to 4170-4260 levels.

WEEKLY: Nifty will set band of 3850-4370 levels on the weekly chart, where we have made a Bullish Hammer Pattern. However, this needs a higher opening on Monday to be confirmed, and a higher close for the next week. For the coming closing above 4011 we can test 4169 -4246 and closing below 4004 it can test 3932-3855 level.

Hot Stocks for the Week July 7-11 - Inder Bhatia

Buy RELCAP above 998 TGT 1053>1088 Stoploss 971.

Buy PUNJLLOYD above 229 TGT 245 >262 Stoploss 219.

Short-Term: Buy BHEL above 1503 TGT 1582–1630 Stoploss 1467.

Buy IFLEX above 1527 TGT 1616 >1664>1712 Stoploss 1483.