Intraday & Technicals - Sept 14th

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The markets today should wove downwards. The inflation reports come out today as the government decides on the rate hike policy tomorrow. The markets are volatile and VIX is at 32.75 and the all time high stands at 36. BankNifty (9339) continues to be weak but then again this may find strong support @ 8917 - long way :( 

SBIN has broken its Feb 2010 low of 1863 and now the next support comes in @1715 which is the Sept 2009 low 

Our projected High 1860 & Low 1764 - below that 1730

RIL - Stochastics and RSI show that the stock is losing steam quick and may take another beating today. CCI has now shown a sell signal for the stock.

SELL BELOW 805 for targets of 798, 791, 784 

Our projected High:817  & Low: 789

LT - The stock finds its next support @ 1609 - Definitely a sell for today AGAIN :)

Our projected High : 1653 & Low: 1604

Buy Nifty (Spot) above 4952 for targets of 4965 , 4985, 5003, 5020 SL - 4935

Sell Nifty (Spot) below  4935 for targets of 4919, 4902, 4884, 4867 SL 4952

Nifty Intraday & Technicals September 13th

The markets may open in red but find strong support near 4900 - the second session looks like a recovery time as markets may go into green. BankNifty (9395) continues to be weak but then again this may find strong support @ 8917 - long way :( 

SBIN took support of its Feb 2010 low @ 1863 - the stock could see some strong sentimental buying during the later hours of the day.

Our projected High 1890 & Low 1835 - below that 1820

RIL - Stochastics and RSI show that the stock is losing steam quick and may take another beating today. CCI has now shown a sell signal for the stock.

Our projected High:815  & Low: 787

LT - The stock finds its next support @ 1609 - Definitely a sell for today !

Our projected High : 1658 & Low: 1610

Buy Nifty (Spot) above 4952 for targets of 4965 , 4985, 5003, 5020 SL - 4935

Sell Nifty (Spot) below  4935 for targets of 4919, 4902, 4884, 4867 SL 4952

There stands a good chance of a recovery after the opening of the European Market !!

NIFTY INTRADAY SEPT 12

The dollar index is up @ 77.49 which means more pain for the Indian Indexes - The markets should open gap down below 5000 and Nifty could try to sustain its support of 4988. We should see some sort of recovery during the later hours. 

Buy Nifty above 5076 for targets of 5091 , 5109, 5127, 5145 SL - 5058

Sell Nifty below  5058 for targets of  5043, 5025, 5008,4990 SL 50130


Larsen Toubro - Sell below 1691 for targets of 1681, 1671, 1661, 1651 SL 1702
                                           expected achievable low for the day 1664

Reliance - Sell Below 819  for targets of 812, 805,798,791

                           expected achievable low for the day 807

STAY DISCIPLINED


** expected achievable low for the day is the number a stock could hit today not that it couldnt go lower than that. They are safe exit points for booking profits.  

Nifty Intraday & Technicals September 9th

Bank Nifty is facing some stiff resistance at 9950 levels and the bulls are trying very hard to surpass this but in vain.  SELL BANKNIFTY @ 9985-10030 levels. Enjoy the profits ! 

RIL woke up yesterday and showed some wild swings during the second half of the trading lifting sentiment and markets. RIL has crossed its 61.8 % level and stochastics at 94.8 clearly shows this baby will soon pop ! 

Dump the B**** !!! 

BUY above 855 for targets of 862, 869, 877 SL 848
SELL below 848 for targets of 841, 834, 826 S 855
Our projected high for the day 860-865 and low 833


LT itself has now entered the overbought area, stochastics at 90 RSI @ 60. We should soon see some heavy selling within this too - Get out before its too late.
BUY above 1712 - targets - 1721, 1731, 1742 SL 1701
SELL below 1701 - targets - 1692, 1681, 1671 SL 1712 
Our projected high 1743 and low 1685

BHEL has now come close within its trading range and now faces stiff resistance. 

SELL below 1775 - targets 1765,1755,1743 SL1785 

Our Projectd High 1792 Low 1742 

Buy Nifty above 5166 for targets of 5188 , 5199, 5217, 5235 SL - 5148

Sell Nifty below  5148 for targets of  5132, 5114, 5096, 5079 SL 50130
Nifty should move side ways but get weak during the second half of the trading session ! 


Have a good weekend 

Nifty Intraday Sept 8th

The banks finally gave the push that the market was looking for - although the worst is not yet over .We continue to advice that be careful with the market and your money at 5150 levels. 

Buy Nifty above 5130 for targets of 5145 , 5163, 5181, 5199 SL - 5112

Sell Nifty below  5112 for targets of  5096, 5079, 5061,5043 SL 50130

The Party is Over? Lets Go To An After Party !!

We had a funny question that went around in Wall Street when I worked there
Q: Why did God create stock analysts ?
A: In order to make weather forecasters look good.

We have a lot of queries whether now is the time to BUY ! NOOO  ITS  NOT. 

Do not buy into this fake rally. On the 1st of Sept (LINK) we had warned shorters that if Nifty closed above 5030 then 5100-50 was very much in the cards and here we are. Our research leads us to believe that we should once again go back to the grounds we touched last month. 4700 and 4600 are very much in cards, Again - if that were broken we may see 4045 next !!

All the rate hikes done by the RBI during the year shall have a post traumatic effect on the economy that shall be felt not today but after 6 months. We are still of the assumption that the Euro crisis and debt problem on the western front could be actually WORSE  than the 2008 crisis. Be prepared for 2012 as we could foresee India and the global markets slipping into slow growth or maybe a recession.

Bears are going short now and indicators are getting close to giving us a SELL signal. Wait for 5150.


The market analysts you see on TV is an expert who will know tomorrow why the things he predicted yesterday didn't happen today - Anonymous 

Nifty Intraday Futures Sept 7th

RIL finally managed to give some hope to investors during yesterdays trading session. Markets today seem to be positive - and should work in an upward trend, but we may experience some jolts during the second half based on Euro issues. 

Buy Nifty above 5076 for targets of 5091 , 5109, 5127, 5145 SL - 5058

Sell Nifty Futures below  5058 for targets of  5043, 5025, 5008,4990 SL 5076

Nifty Intraday Futures Sept 6th

The markets seem to be positive - and should work in an upward trend. 

Buy Nifty Futures above 5023 for targets of 5038 , 5056, 5074, 5091 SL - 5005

Sell Nifty Futures below  5005 for targets of  4990, 4972, 4955, 4937 SL 5041

Infosys and TCS may continue their declines based n global cues.

Banks should hold the market - SBI, HDFC look promising.

GOOD LUCK TRADING !!

Intraday Nifty Futures Sept 5tt

The overall trend today  should be weak and in a downward movement. The markets may show some sort of recovery or uptrend after 1230 PM. Work with tight stop loss as the markets are still very fragile and volatile.  

Buy Nifty Futures above 5041 for targets of 5056 , 5094, 5071, 5109 SL - 5023

Sell Nifty Futures below  5023 for targets of  5008, 4990, 4972, 4955 SL 5041

In our last article we had asked you to see if BankNifty breaks the trendline within the next 3 trading session; and it has closed above our pre-required mark 9547 @ 9581 The index has generated a MACD  buying signal - one of our favorite indicators. 

BUY BANKNIFTY above 9604 for targets of 9623, 9648, 9672, 9697 SL 9579

Remember : the markets should go down during open and then recover - so please wait and watch 

Intraday Nifty Futures Sept 1st

NIFTY seems to be weak at this stage. Short positions can be assumed by aggressive traders if Nifty hits 5030 although 5100-5150 is also very much in the cards. The overall trend today  should be weak and in a downward movement. Work with tight stop loss as the markets are still very fragile and volatile.  

Buy Nifty Futures above 5006 for targets of 5020 , 5038, 5056, 5074 SL - 4987 

Sell Nifty Futures below  4987 for targets of  4972, 4955, 4937, 4919 SL 5006

SBIN  closed at 1973 forming a doji pattern in the last trading session.  The stock could hit an intraday high of 2002. If it is unable to sustain this level and market looks weak  short positions could be taken intra-day for targets of 1960-46.

Happy Ganesh Chaturthi and  Michhami Dukkadam to all our followers :)

Hope you all have a great weekend.