The global markets too in bullish mood and the markets are jumping to test new highs every time. The Indian markets are in jubilant mood as the FIIs are pouring money and now new money in the form of SPACs is coming- a threat to the managements with low percentage of share holding.
Nifty is comfortably placed in support of bulls so long the low does not breach 4411-09 levels.
No big news, exporters get sops and clearances to SEZs. Today it is likely that RIL can break the range bound, above 1718 strong and below 1703 weak. The stop-losses are either side. The reality may take a halt from higher side. The SBI is expected to see action- above 1563 up below 1541-43 is down wards. IDFC is good above 126.85 and stop-loss at 124. Relcap is weak below 1153-51 good above 1171-69.
The pressure from bears can bring RCOM to 541-43 level, Steels may correct a bit at the fag end of the session. The move initiated in telecoms like MTNL may continue, VSNL expected to participate and ONGC to support bulls if it trades above 891 and stop-loss at 883.
Friday, July 13, 2007
The move is solid and up-wards!
The markets showed a solid move participation from the laggards of the past and support from the leaders like ABB, BHEL, RCOM, Bharti, ICICI and last but not least is from metal space.
Those who took del. in Hindalco can prune by 50% at 168-69 ranges and the rest above 173-75 or at 158 as the case may be. As a matter of fact the screen is bullish but it stretched too far amidst of the gloomy views from leading brokerage houses. In case of a correction beyond normal on any single day can break the whole faith and the long-term bullish story of our markets. If we go back to history, the moves are sharp and wild but the solace is the intra day volatility is not there. So 50% saved but the up moves are very much stretched.
Nifty has good support at 4245-4241 levels. In case RIL trades below 1686 is the first signs of breaks in the up trend. The bullishness will end when RCOM trades below 503-501 level and Tata Steel trades below 606-608 levels. So no shorts for short gains but no longs for a longer period.
Those who took del. in Hindalco can prune by 50% at 168-69 ranges and the rest above 173-75 or at 158 as the case may be. As a matter of fact the screen is bullish but it stretched too far amidst of the gloomy views from leading brokerage houses. In case of a correction beyond normal on any single day can break the whole faith and the long-term bullish story of our markets. If we go back to history, the moves are sharp and wild but the solace is the intra day volatility is not there. So 50% saved but the up moves are very much stretched.
Nifty has good support at 4245-4241 levels. In case RIL trades below 1686 is the first signs of breaks in the up trend. The bullishness will end when RCOM trades below 503-501 level and Tata Steel trades below 606-608 levels. So no shorts for short gains but no longs for a longer period.
Thursday, July 12, 2007
The move is solid and up-wards!
The markets showed a solid move participation from the laggards of the past and support from the leaders like ABB, BHEL, RCOM, Bharti, ICICI and last but not least is from metal space.
Those who took del. in Hindalco can prune by 50% at 168-69 ranges and the rest above 173-75 or at 158 as the case may be. As a matter of fact the screen is bullish but it stretched too far amidst of the gloomy views from leading brokerage houses. In case of a correction beyond normal on any single day can break the whole faith and the long-term bullish story of our markets. If we go back to history, the moves are sharp and wild but the solace is the intra day volatility is not there. So 50% saved but the up moves are very much stretched.
Nifty has good support at 4245-4241 levels. In case RIL trades below 1686 is the first signs of breaks in the up trend. The bullishness will end when RCOM trades below 503-501 level and Tata Steel trades below 606-608 levels. So no shorts for short gains but no longs for a longer period.
Those who took del. in Hindalco can prune by 50% at 168-69 ranges and the rest above 173-75 or at 158 as the case may be. As a matter of fact the screen is bullish but it stretched too far amidst of the gloomy views from leading brokerage houses. In case of a correction beyond normal on any single day can break the whole faith and the long-term bullish story of our markets. If we go back to history, the moves are sharp and wild but the solace is the intra day volatility is not there. So 50% saved but the up moves are very much stretched.
Nifty has good support at 4245-4241 levels. In case RIL trades below 1686 is the first signs of breaks in the up trend. The bullishness will end when RCOM trades below 503-501 level and Tata Steel trades below 606-608 levels. So no shorts for short gains but no longs for a longer period.
No break in bullishness?.
The bears are looking the height the indices climbed but where as the bulls are visualizing the headroom upward journey to be made. What a clear distinction in approach?.
The Infosys results came, gone with wounds and thumps down by street, but the over all market was clearly bullish even at the top. Can the mid cap its survive in profits or take a cue from “igate” to report losses?. In case of loses what about the recent valuations?.
As posted earlier the viewers could have observed that Tata steel strong above 626 and yester day low was 627 run-up to 561+, RCOM has good support at 536 and it got the support. Those who took del. in ZEE at 295-300 range, as suggested went to 32-330 level, so reduce by 50%, wait till it trades below 308-09 for the rest 50%. Hindalco made an up move up to 158 but could not trade above, this time when it crosses 158, good for del. stop-loss @154.
The news that can influence is RIL gas may be that could be the reason to float between 1693-1718 for the last 6 trading sessions. It is preparing to bid in US for refinery. Now HLL (HUL) in news, take over attempt by Colgate.
Dabur merges Dabur foods, stay long with stop- loss @ 101.
Nifty is good above 4351-53 levels, but it unlikely that it can stay a long period in case TCS and Wipro disappoint more.
No major technical changes happened. Incase of bear pressure prefer short in SBI, RIL. ICICI has good support above 953-55 levels. MTNL will continue the up move stop-loss @ 163. Nuclear news-NTPC, BHEL, ABB and Punjlloyd.
The Infosys results came, gone with wounds and thumps down by street, but the over all market was clearly bullish even at the top. Can the mid cap its survive in profits or take a cue from “igate” to report losses?. In case of loses what about the recent valuations?.
As posted earlier the viewers could have observed that Tata steel strong above 626 and yester day low was 627 run-up to 561+, RCOM has good support at 536 and it got the support. Those who took del. in ZEE at 295-300 range, as suggested went to 32-330 level, so reduce by 50%, wait till it trades below 308-09 for the rest 50%. Hindalco made an up move up to 158 but could not trade above, this time when it crosses 158, good for del. stop-loss @154.
The news that can influence is RIL gas may be that could be the reason to float between 1693-1718 for the last 6 trading sessions. It is preparing to bid in US for refinery. Now HLL (HUL) in news, take over attempt by Colgate.
Dabur merges Dabur foods, stay long with stop- loss @ 101.
Nifty is good above 4351-53 levels, but it unlikely that it can stay a long period in case TCS and Wipro disappoint more.
No major technical changes happened. Incase of bear pressure prefer short in SBI, RIL. ICICI has good support above 953-55 levels. MTNL will continue the up move stop-loss @ 163. Nuclear news-NTPC, BHEL, ABB and Punjlloyd.
Wednesday, July 11, 2007
The D-day! USA in red!
There were no major changes in the technical levels of other stocks except Infosys as results were below expectations as expected but the street reaction is important. Infy weak below 2020 stop loss 2041-43, TCS weak below 119189 stop loss 1201-03, RCOM strong above 539-41 level, weak market may touch 51-19 levels. The RIL below 1705-06 weak, SBI weak below 1563. The Nifty has support at 4351-49 level, below that @4321-23.
Tuesday, July 10, 2007
Tech ADRs shine, rest is good!
The Nifty could get support at 4383-81 level. The RIL should trade above 1715 to see Nifty to trade above 4403-06. The results of HDFC can influence the bank stocks. The cements likely to correct by 2-3%. The hindalco good above 158-159 for del. stoploss @154.
The SBI is good above 1563-66 level and ONGC above 886-85, RIL above 1706-08, RCOM above 551-49 Tata steel good above 626. The stocks are good above those levels for long, below those levels go short in RIL & SBI.
Scrips in news- Suzlon negative news, RIL gas positive, tech results can influence the direction in advance – a caution.
The SBI is good above 1563-66 level and ONGC above 886-85, RIL above 1706-08, RCOM above 551-49 Tata steel good above 626. The stocks are good above those levels for long, below those levels go short in RIL & SBI.
Scrips in news- Suzlon negative news, RIL gas positive, tech results can influence the direction in advance – a caution.
Monday, July 09, 2007
THE POWER OF BULLISHNESS!
The bulls are showing their strength in managing the Nifty with rotation of heavy weights moving up. This time by ONGC, Bharti BHEL, L&T and Banks. It is likely that the tomorrow cycle will come with RIL, ICICI, SUZLON, HLL and ITC. The persons in del. in ZEEL can cut their exposure by 75%, Satyam by 50%.
The Ster made a good move but Hindalco did not, but may tomorrow?. Today also RIL failed to trade above 1718 but did not cut 1701. SBI above 1549-51 levels gave good returns and morning up move sustained in ONGC above 881-83 level. The techs consolidated, Infy above 1979 good above 2020 is solid up move. TCS above 1181-83 is good. Incase those who took del. above 1129-31 levels can reduce their holding by 50%.
It is very likely that the Infy results will change the course of journey. I think the RIL will touch 1580, SBI may touch 1430-39 levels before a fresh upward move can be expected.
The Ster made a good move but Hindalco did not, but may tomorrow?. Today also RIL failed to trade above 1718 but did not cut 1701. SBI above 1549-51 levels gave good returns and morning up move sustained in ONGC above 881-83 level. The techs consolidated, Infy above 1979 good above 2020 is solid up move. TCS above 1181-83 is good. Incase those who took del. above 1129-31 levels can reduce their holding by 50%.
It is very likely that the Infy results will change the course of journey. I think the RIL will touch 1580, SBI may touch 1430-39 levels before a fresh upward move can be expected.
The likely to open above 4400?
The global cues are positive and the mood in Indian market is also favouring the bulls, can help the Nifty to float above 4400 and it seems bulls determined to touch 4480 as posted in earlier posts.
The scrips in news- Hindalco & Sterlite, the copper trading at 7-week highs. The RIL-(slightly negative) gas KG-blocks issue, ANIL, now a trillionaire, the companies likely to move up. MTNL acquires Suntel in Srilanka.
Nifty shall not trade below 4361-63 levels to continue the up move. The RIL shall trade above 1715-16 level, RCOM above 556 and the Pharma shall move to equate themselves in the upward journey. The techs changed the bottoms support, as Infy above 1955-56 strong, Wipro above 516-18 and TCS above 1153 are strong. Those who took del. in Satyam and in ZEEL can wait until Satyam stays above 483-81 levels and ZEEL above 306-05 to gain more. Tata Steel good above 625, SAIL above 132. The SBI has become weak until it stays below 1549-51 level and ONGC below 883, technically weak.
In case of profit booking pressure, cements and banks are weak.
The scrips in news- Hindalco & Sterlite, the copper trading at 7-week highs. The RIL-(slightly negative) gas KG-blocks issue, ANIL, now a trillionaire, the companies likely to move up. MTNL acquires Suntel in Srilanka.
Nifty shall not trade below 4361-63 levels to continue the up move. The RIL shall trade above 1715-16 level, RCOM above 556 and the Pharma shall move to equate themselves in the upward journey. The techs changed the bottoms support, as Infy above 1955-56 strong, Wipro above 516-18 and TCS above 1153 are strong. Those who took del. in Satyam and in ZEEL can wait until Satyam stays above 483-81 levels and ZEEL above 306-05 to gain more. Tata Steel good above 625, SAIL above 132. The SBI has become weak until it stays below 1549-51 level and ONGC below 883, technically weak.
In case of profit booking pressure, cements and banks are weak.
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