Nifty Update for September 15 - Inder Bhatia

The Indian market saw continuing selling pressure and broke the important level of 4200 during the intraday session. However, it managed to close above it. For the coming session, if Nifty trades below 4200 we could test levels of 4159-4100. On the other side 4290-4323 would act as a resistance zone.

Last week the Nifty fell 2.8 percent and close in the deep red zone. Inflation came at 12.10% percent, as compared to 12.34 percent for the week ending August 30. The IIP number released for July showed that industrial output grew 7.1 percent but the market saw selling pressure at higher levels. For the coming session if Nifty breaks 4150, we coud test 3800 levels again. On the other side 4346-4400 would act as strong resistance zone. If Nifty closes above 4341, it could test 4404-4467. On the lower side support would come at 4099-4035 .

On a weekly basis, we can see a tail at the upper side which suggests selling at higher levels. Thus, Nifty would not be able to close above the trend line. Nift has tried to cross this trend line three times, but it as always closed below.

SELL KOTAKBANK below 579 TGT 564>555 Stoploss 586.

SELL TCS below 810 TGT 796>788 Stoploss 821.

SELL ICICIBANK below 655 TGT 640>632 Stoploss 670.

SELL SATYAM below 406 TGT 400 >395 Stoploss 411.

Hot Stocks for the Week August 11-15 - Inder Bhatia

Buy ICICIBANK above 740 TGT 778>803 Stoploss 721.

Buy LT above 2845 TGT 2921-2997 Stop loss 2810.

Short-term: Buy ESSAROIL above 249 TGT 283>301 Stoploss 241.

Short-term: Buy LAKSHMIMACH 1232 TGT 1370>1535 Stoploss 1134

Weekly Hot Calls for July 21-25 - Inder Bhatia

Buy SBI above 1298; TGT 1298 1363>1401; Stoploss 1253;
Buy ICICIBANK above 618; TGT 651>682; Stoploss 597;

Buy NTPC above 172; TGT 183>191; Stoploss 167;

Buy RELCAP above 1105; TGT 1155>1183; Stoploss

Nifty Update and Hot Calls for June 17 - Inder Bhatia

The Indian market closed in the green zone. Market opened gap-up following global cues. On the upper side it saw some selling pressure but managed to closed above the downtrend channel line. On the upper side 4629 will act as strong resistance and 4530 will act as support zone. Our target of 4630 is intact.

HOT CALL: ICICI BANK

More Hot Calls - Inder Bhatia

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

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