Nifty and Banks at Resistance

Hi all,

There is an important development for all of you to know that the index Nifty has a resistance at 5116. There is also a support which is currently valued at 5029. The next resistance comes at 5318.

Almost all the bank stocks are very close to or at resistance which is a matter of concern. So, if on 16th October the market remains choppy or corrects, it could purely be on the back of Banking Sector (as the sector had been running quiet hard and cheering the market).

For the moment, one can consider buying Guj NRE Coke for a price target of Rs81. The stop loss would be placed at Rs59.

One can continue holding HindZinc for a target of Rs900, Jindal Steel and Power for a target of Rs746, JSW Steel for a target of Rs1080 and Rs1120. Even Rajesh Exports whose cmp is Rs81 (given a target of Rs80) may go to Rs88.


Let's see what the market does tomorrow.


Happy & Profitable Trading.

Calls

Hi all,

First of all, my personal view on Nifty is that we are headed north ways and possibly have a long way to go in shortest time. So, tighten your seat belts and trade in the direction of trend.

Target Stop Loss

Buy Bank of Baroda 567 486
Buy Bharat Forge 313,352 270
Buy BHEL 2591 2420
Buy Honeywell Auto 2036 1770
Buy Jindal Steel & Power 714 622
LIC Housing Finance 864 768
NTPC 242 205
Sterlite Tech 315 268

Note:-
1) Honeywell Auto may consolidate before going up, a kind of throwback.
2) Jindal Steel and Power, LIC Housing Finance and Sterlite Optical are based on my trading plan, which is ideally for aggressive investors only.
3) On the basis of similar set up, SREI Int. has a target of 86.30. Due to lack of data on the stock, cannot tell the stop loss and therefore not recommended to buy.
4) Similarly, Cairn India has a target of Rs301, but due to lack of data, Stop loss cannot be given and so I did not recommend buying.
5) All above information is based on technical analysis.
6) This content is not an offer to buy. It is purely for the purpose of sharing information.

Consider the following

Hi all,

Buy Bank of India for a price target of Rs447/- with a stop loss of Rs391/-.

Buy MRF for a target of Rs6300/-, SL 5550/-

Buy Reliance Capital for a target of Rs1188 with a stop loss of Rs880/-


The next two buys are based on my trading set up, which is for highly adventurous and aggressive traders only.

Buy Orbit Corp. for a target of Rs272 with a stop loss at 238/-.

Buy Rajesh Exports for a target of Rs80/- with a stop loss of Rs63/-.

Aban, Market and US dollar

Hi all,


I am sorry to update this blog very often.

But very soon I will keep updating it on regular basis.

For the moment, one can buy Aban Offshore for a price target of Rs1985 and above and the stop loss would be 1555.

I reiterate buying HDIL with a stop loss at Rs316/- for a price target of Rs375/-.

Markets are expected to be range bound. However, I do not see any major corrections on the way.

New update on US dollar against Indian Rupee. The dollar is expected to go down further to Rs43/-.

Hold Nifty Longs. Sell Suzlon Energy

Hi all,


Nifty closed at 4986.55 today. The last day's fall and today's recovery was very much visible on charts. Supports on Nifty come at around 4968 and 4829 while the immediate resistance is at 5020.

Suzlon Energy
The stock has been under performing the market for quiet sometime now. The target is Rs78/- and then Rs71/- on the stock. It is not only for those who hold long position but those who do not have any position can go forward and short sell the stock with a stop loss at Rs95/- and target of Rs78/-.

Bank of Baroda
The stock can be bought at CMP (476.65) for a target of Rs492/- and a stop loss below Rs463/-. Since the risk to reward ratio is not too good, the stock should not be bought by risk averters.

Except for HDIL, almost all stocks have met their target. Hold long positions in HDIL with SL Rs316/-.


Disclaimer:-
1) Predictions of movement of Stocks are purely based on thorough technical analysis by the writer.
2) Writer bears no responsibility for any decisions made by any individual or firm based on analysis given in this page.
3) Writer shall not be liable for any damages or gains incurred due to recommendations presented on this blog.


Thanks
Neeraj Sehtya

Hold Nifty Longs, Buy HDIL and Amtek Auto

Hi all,


I am sorry for such a big hiatus but I was waiting for a few things to crack and get cleared which I have been able to do successfully.

In the meanwhile, I realised that all the targets barring DLF have been hit. Even in case of DLF, the stop loss has not been hit yet and the first of the two targets was successfully triggered.

But what further,
Nifty had given the breakout from 4730 and soon after that the target on nifty is 5250. So, be a fearless bull and hold on to nifty longs with a stop loss below 4926 on closing basis. This is however, not the right time to buy any nifty option. The same is suggested by the F&O data too that the markets are likely to hit 5000 this month's expiry.

One can consider buying HDIL for a price target of Rs375/- and stop loss of Rs317/-.
Current price is Rs332.45/- on NSE.

One can also buy Amtek Auto for a price target of Rs226/-, stop loss below Rs194/-. The risk to reward ratio is comparatively poor in this stock. Current price is Rs210.80/- on NSE.


Have a profitable trading.

Thanks

A Much Awaited Breakout Has Come Finally

Hello All!!

I had been saying to so many people around me that the breakout is expected to come on Monday or maximum by Tuesday of 2nd week of September (those who heard would agree with this statement) and it happened on Monday.

Now what to do??

As of today, we have breakouts both on the daily and the weekly chart of the Nifty. So, one can go long on the nifty itself.

All the recommended stocks are on the right track.


Stocks to buy

Satyam Comp:- The stock can be bought with a target of Rs135/-. Stop Loss would be Rs116/-.

Purvankara Project:- The stock can be bought with a target of Rs142/-.


Avoid stocks like Amtek Auto as they may see a phase of consolidation or a bit of correction.


Thanks
Neeraj Sehtya