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
Friday, September 25, 2009
Friday, September 18, 2009
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
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
Tuesday, September 8, 2009
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
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
Tuesday, September 1, 2009
Most stocks find key resistance, nifty finds support
Hello all!!
As mentioned in the last day's post, the bourses closed with a negative bias. While Sensex closed at 15666 losing 255 points, nifty closed at 4662 losing 70 points.
The nifty has closed very close to its vital support of 4658, which might give a push to the nifty or at least may not let it fall as hard as yesterday. At the same time, there are many stocks which are currently quoting at their resistance levels.
All I am waiting for is a decisive break above 4739 on any day on nifty.
At the same time, Sensex's support is seen in the zone of 15470-15370.
Almost all the stocks discussed yesterday are approaching their targets. Rest will soon follow the suit.
Aban offshore (targets of Rs1418/- and Rs1632/- were given in earlier posts) quotes a price of Rs1630/-. Now, there are factors that suggest a consolidation to correction mode on Aban Offshore. As said yesterday, any dip in the stock is a wonderful opportunity to buy. Its current resistance is Rs1632/-.
Bhel - A decisive breakout above Rs2351 is awaited, which will generate a buy signal with a target of Rs2741/-. (breakout can come anytime in the next 7 days.)
Carry a positive outlook on Bajaj Auto Ltd. and Hero Honda.
The former positioned at Rs1215/- is not too far from its minor resistance of Rs1224/-, while in the case of latter, a breakout above Rs1533/- is awaited to trigger a buy signal again. Rs1476/- is the support for Hero Honda.
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.
As mentioned in the last day's post, the bourses closed with a negative bias. While Sensex closed at 15666 losing 255 points, nifty closed at 4662 losing 70 points.
The nifty has closed very close to its vital support of 4658, which might give a push to the nifty or at least may not let it fall as hard as yesterday. At the same time, there are many stocks which are currently quoting at their resistance levels.
All I am waiting for is a decisive break above 4739 on any day on nifty.
At the same time, Sensex's support is seen in the zone of 15470-15370.
Almost all the stocks discussed yesterday are approaching their targets. Rest will soon follow the suit.
Aban offshore (targets of Rs1418/- and Rs1632/- were given in earlier posts) quotes a price of Rs1630/-. Now, there are factors that suggest a consolidation to correction mode on Aban Offshore. As said yesterday, any dip in the stock is a wonderful opportunity to buy. Its current resistance is Rs1632/-.
Bhel - A decisive breakout above Rs2351 is awaited, which will generate a buy signal with a target of Rs2741/-. (breakout can come anytime in the next 7 days.)
Carry a positive outlook on Bajaj Auto Ltd. and Hero Honda.
The former positioned at Rs1215/- is not too far from its minor resistance of Rs1224/-, while in the case of latter, a breakout above Rs1533/- is awaited to trigger a buy signal again. Rs1476/- is the support for Hero Honda.
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.
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