Analysis for 21st June, 2011

There was panic in the markets...First it was GTL and then the Mauritius Treaty news led to a crash and the nifty nosedived to 5195 making a double bottom as the earlier low was 5178. The nifty then recovered but closed in the red down more than 100 points. The crash was akin to a panic where all stops get triggered and the brokers are forced to liquidate positions due to margin calls. Nobody could actually understand why the markets were falling as it was not an overnight affair to change a treaty between two countries and would require months of negotiations. But this is how panic bottoms are made. A break of this double bottom would eventually take the nifty to 4970-4680 levels even if there is some rally after the break in. However, if the double bottom is not broken then we could see a good 250-300 points rally on the nifty. The markets are oversold and buying in dips would be the best strategy for the immediate short term. Banking stocks fell less compared to the rest of the market so they would be a better bet.

Acc wait for a bounce to short again. Partial profits booked as a double bottom was made at 920 and also the fall was too steep.
Ashok Ley reduce stop to 50 and book profits in dips
Axis Remember our stop is 1200 and the low made was 1201. Hold for 1275
Bank of India shorts not initiated as 406 was not broken
BPCl partial positions open got stopped.
Bharti wow stock...Did not break 365 and now is moving to capture the 400 mark.
BHel 1890 held on.
Cipla longs got stopped. Still a buy in dips stock with 290 as stop
Ambuja Cem above 129 stop 125 buy for 138
HCl bounce looks certain
HDFC double bottom at 625
Hindalco Got support at our level of 162. Use 160 as stop to buy for 180
IDbi stopped
IDFC stopped
IOb partial open got stopped
KOtak 430 did not break
LIC Hsg partial open got stopped
Lupin profit booked
Mphasis profit booked
Raymond profit booked
Reliance highly oversold. Buy in dips.
Tata Motor Buy in dips with 890 as stop for 1000
Tata Steel longs not initiated as 575 not taken out.
JSPL 600 crucial
Punj stopped by 90paise
Yes Bank above 293 stop 290 buy for 300-305

Happy Trading!!!

Analysis for 20th June, 2011

Nifty is not looking very promising and some pull back is definitely on the cards this week but unless 5550 is taken out decisively sell in rallies would be the best option available.

ACC in rallies use 1000 as stop to sell for 860
Ashok Ley stop 51 sell for 45
BOI below 406 stop 414 sell for 390
BPCL first target of 640 nearly achieved. Keep stop of 620 and hold for 655
HDFC complete profit booked in shorts as our target of 635 has been achieved. In rallies use 680 as stop to go short for target of 560
Hindalco 170 could not hold. Now 162
ICICI Bank in rallies use 1060 as stop to sell for 1000-980
IDBI increase stop to 128
IOB increase target to 158-164
Jet profit booked
Kotak 430 continues to be a rock solid support and stop
LIC Hsg increase stop to 224 and target remains 235
Lupin below 440 sell for 430 stop 445
Mphasis target remains 440-430
Raymond book partial profits in shorts. Target remains 370
TCS profit booked in shorts
Tata Motors avoid shorting as some upward movement is due
Tata STeel stop 560 buy above 575 for 600
Wipro stop 400 buy for 430
BHushan Steel above 424 stop 418 buy for 440
Punj same stop 64 and target 78

Happy Trading!!!

Analysis for 17th June, 2011

We are now below 5400.

Apollo Tyres our 2nd target of 78 nearly reached with high being made of 77.25...Book profit in the partial still open.
BPCL stop 620 buy for 640-655
Bharti below 367 stop 372 sell for 360-355
Cipla stop remains 320 for buying in dips
HDFc keep stop 660 for the partial positions still open and book profits.
HIndalco 171 did hold. stop 170 buy for 180-185
ICICI Bank profits booked in shorts. In rallies use 1055 as stop to again short
IDBI stop 127 buy for 133
IDFC in dips use 115 as stop to buy for 125-130
IOB above 148 stop 144 buy for 156
Jet 430 is a good support. Use it as stop to buy in dips for 455-460
LIC Hsg stop 221 buy for 235
Mphasis below 450 stop 455 sell for 440-430
Reliance use 860 as stop to buy in dips
TCS sell below 1145 with 1155 as stop for 1120
Century tex keep stop of 350 and hold for 380
HDIl stop 165 buy in dips for 200
Punj stop 64 buy in dips for 78

Happy Trading!!!

Analysis for 16th June, 2011

Credit Policy day....Highly uncertain...If the hike is only 25bps then one should try to open up some longs after the dip.

Apollo Tyre is moving and our targets remain intact at 75-78. Book partial profits near 75.
Auro Pharma short call targets achieved. Now stop 175 buy for 185
BPCL stop 625 sell for 610-605
Bhel stop continues to be at 1890 for longs
Cipla buy in dips with 320 as stop
HDFC partial profits booked in shorts at 645 and book the remaining near 635 our target. Reduce stop to 660.
Hindalco below 181 our target was 171 which has nearly been achieved. 171 should hold for some time. Break of 171 will take it to 162
ICICI Bank our target was 1020 and made a low of 1026 where partial profits have been booked. Book the remaining in the range of 1010-1020
IDFc all targets achieved.
Kotak 430 is crucial
Ranbaxy above 545 stop 540 buy for 555
Raymond stop 395 sell in rallies for 370
TATA Motors above 1000 stop 990 buy for 1030
DLF stopped
Yes Bank target achieved.

Happy Trading!!!

Analysis for 10th June, 2011

The ever shrinking range

Axis still looks good for our target
BOI same buy above 430 for 440 with 425 as stop
BHel positions are still open
GEShip we booked profits and it fell further
HDFC same stop and targets of 645-635
IDFC partial profits booked at 134
M&M above 672 stop 665 buy for 685
Sun Pharma hold for 465
Yes Bank reduce stop to 303 and target remains 290

Happy Trading!!!

Analysis for 9th June, 2011

Nifty witnessed a break in its upward journey but it appears that even the downside is not much...In other words the range is going to reduce slowly and we would soon be at a point where the nifty would witness a major break out or break down.

Apollo Tyres increase stop to 71
Auro Pharma could not reach our target of 188 but definitely gave partial profits by making a high of 185.
Canara Bank partial profits booked and the other half got stopped
GEShip profit booked in shorts
HDFC stop 665 sell below 657 for 645-635
ICICI Bank till not taken out use 1065 as stop to sell in rallies for 1020
IDFC till not taken out use 138 as stop to sell in rallies for 134-132
JP increase stop to 82.5
Kotak profit booked
Sun Pharma below 477 stop 482 sell for 465
Tata Motors exit longs
JSW Steel stopped
Yes Bank stop 305 sell in rallies for 290.

Happy Trading!!!

Analysis for 8th June, 2011

Nifty is seen positive and 5650 appears to be the upper band.

Apollo Tyres stop 70 buy for 75-78
Auro Pharma stop 179 buy for 188
Axis same
BOI above 430 stop 425 buy for 440
Canara same
Cipla book profit
GeShip book profit. However in case 290 is broken during the opening moves then reduce stop to 295 and hold on to shorts
Hindalco above 188.5 stop 185 buy for 195
ICICI Bank again buy only above 1064
IDFc again buy only above 138
JP stop 82 buy for 88
KOtak hold for 460 and book profits in rallies
Ranbaxy above 545 stop 540 buy for 555
Tata Motor hold
Tata Steel heading to 595-600
DLF target remains 250
HDIL target achieved
JSPL stop 625 buy for 660
JSW STeel stop 926 buy for 980

Happy Trading!!!