NIFTY OUTLOOK FOR 03/06/2013
ALL THE PLANETS CAUGHT BETWEEN
RAAHU AND KETHU FROM THIS WEEK
UP TO 26TH SEPTEBMER. ASTRO NAME
THIS AS KAALASARPAM.
MOON WILL SAIL INSIDE THIS RANGE
FOR 14DAYS AND OUTSIDE THIS RANGE
FOR 14DAYS.
HUGE VOLATILE TRADING DAYS AHEAD.
MARKETS WILL MAKE NEW HIGHS. BUT
WILL FALL SUDDENLY LIKE ANYTHING.
SO TRADE WITH PROPER STOPLOSS AND
WITH MINIMUM LOTS UP TO 26/09/2013.
NIFTY VIEW
———–
GDP DATA’S ARE BELOW THE EXPECTATIONS.
SO BEARS TAKES AWAY 6088 ON FRIDAY
AND CLOSES AT 5985.
AS WE POSTED HERE BELOW 6088 IT IS
BEARS AREA. BEARS ARE ACTIVE NOW.
THEY WILL TARGET 5866 AND 5777.
ON THE UPSIDE,
BULLS HAVE TO MAKE A CLOSE ABOVE 6088.
THEN THEY CAN MOVE TOWARDS 6222.
ALL THE RISES BELOW 6088 WILL BE
SHORTED BY BEARS.
Top five trading strategies for coming week
Punjab National Bank: SELL for a target of Rs 734, keeping stop loss at Rs 782.20
The price of PNB has been trading in the range of Rs 920 -- 682 for the past couple of months. This sideways consolidation is taking the shape of a head and shoulder pattern. With Friday's down move, the stock has registered breakdown from its upward sloping trend line, indicating that this move could take the shape of a right shoulder pattern.
The stock has taken resistance from its cluster of moving averages. The momentum indicator has also registered breakdown from a head and shoulder pattern and rolling downward.
Traders can look to sell now and again on rise up to Rs 766 -- 772 with a stop loss placed above Rs 782.20 levels for the targets of Rs 734 /710 levels.
Reliance Communications Ltd: SELL for a target of Rs 102, keeping a stop loss at Rs 109.60
The share price of RCOM has witnessed a sharp rally from the lows of Rs 50 to the highs of Rs 117.40 levels. Traders should note that the stock has doubled in a time span of just two months. After registering highs of Rs 117.40, the stock has been trading sideways.
This sideways momentum is taking the shape of a head and shoulder pattern. The stock has also closed near its lower Bollinger band. The stock is trading below its short term moving averages. The momentum indicators are declining.
Traders can create short position now with a stop placed above Rs 109.60 levels, for the targets of Rs 102 / 98 levels.
Infosys Ltd: BUY with a target of Rs 2486, keeping a stop loss at Rs 2358.80
The share price of Infosys has been trading sideways after witnessing a sharp fall from the highs of Rs 2935.60 to the lows of Rs 2186 levels. With Friday's up move, the stock seems to have registered a breakout from its consolidation range.
The stock is now trading above its cluster of moving averages and managed to close above its upper end of Bollinger band, on the back of rising volumes. Trading above Rs 2435, the stock is likely to accelerate the upward momentum. The momentum indicator has exited from its oversold zone and rising.
Traders can create long position now and again on dips up to Rs 2380-2390 with a stop placed below Rs 2358.80 levels, for the targets of Rs 2486/2530 levels.
Vijaya Bank: SELL for a target of Rs 48, keeping stop loss at Rs 52.60
The share price of Vijaya Bank has been trading sideways after witnessing a smart up move from the lows of Rs 45.75 to the highs of Rs 56.10 levels, since then the stock is trading in a sideways range.
This sideways momentum has taken a form of a head and shoulder pattern, which is also known as distribution pattern (at the top).
The stock is finding resistance from its long term moving average and currently trading below its short term cluster of moving averages. The momentum indicator is also rolling downward.
Traders can create short position below Rs 50.80 with a stop placed above Rs 52.60 levels, for the targets of Rs 48 /45.50 levels.
Rural Electrification Corporation Ltd: SELL for a target of Rs 212, keeping stop loss at Rs 227.60
The share price of REC has registered breakdown from the upward sloping trend line. Traders should also note that stock has also registered breakdown from the head and shoulder pattern.
On the daily chart the stock is trading below its cluster of moving averages and closed near lower end of Bollinger band. The implicated target comes around Rs 205 level. The momentum indicator is also declining.
We recommend sell now and again on rise in the range of Rs 223 -- 225 with a stop loss placed above Rs 227.60 for the targets of Rs 212 /205 levels.
(The views and recommendations expressed in this section are the analyst's own )
ALL THE PLANETS CAUGHT BETWEEN
RAAHU AND KETHU FROM THIS WEEK
UP TO 26TH SEPTEBMER. ASTRO NAME
THIS AS KAALASARPAM.
MOON WILL SAIL INSIDE THIS RANGE
FOR 14DAYS AND OUTSIDE THIS RANGE
FOR 14DAYS.
HUGE VOLATILE TRADING DAYS AHEAD.
MARKETS WILL MAKE NEW HIGHS. BUT
WILL FALL SUDDENLY LIKE ANYTHING.
SO TRADE WITH PROPER STOPLOSS AND
WITH MINIMUM LOTS UP TO 26/09/2013.
NIFTY VIEW
———–
GDP DATA’S ARE BELOW THE EXPECTATIONS.
SO BEARS TAKES AWAY 6088 ON FRIDAY
AND CLOSES AT 5985.
AS WE POSTED HERE BELOW 6088 IT IS
BEARS AREA. BEARS ARE ACTIVE NOW.
THEY WILL TARGET 5866 AND 5777.
ON THE UPSIDE,
BULLS HAVE TO MAKE A CLOSE ABOVE 6088.
THEN THEY CAN MOVE TOWARDS 6222.
ALL THE RISES BELOW 6088 WILL BE
SHORTED BY BEARS.
Top five trading strategies for coming week
Punjab National Bank: SELL for a target of Rs 734, keeping stop loss at Rs 782.20
The price of PNB has been trading in the range of Rs 920 -- 682 for the past couple of months. This sideways consolidation is taking the shape of a head and shoulder pattern. With Friday's down move, the stock has registered breakdown from its upward sloping trend line, indicating that this move could take the shape of a right shoulder pattern.
The stock has taken resistance from its cluster of moving averages. The momentum indicator has also registered breakdown from a head and shoulder pattern and rolling downward.
Traders can look to sell now and again on rise up to Rs 766 -- 772 with a stop loss placed above Rs 782.20 levels for the targets of Rs 734 /710 levels.
Reliance Communications Ltd: SELL for a target of Rs 102, keeping a stop loss at Rs 109.60
The share price of RCOM has witnessed a sharp rally from the lows of Rs 50 to the highs of Rs 117.40 levels. Traders should note that the stock has doubled in a time span of just two months. After registering highs of Rs 117.40, the stock has been trading sideways.
This sideways momentum is taking the shape of a head and shoulder pattern. The stock has also closed near its lower Bollinger band. The stock is trading below its short term moving averages. The momentum indicators are declining.
Traders can create short position now with a stop placed above Rs 109.60 levels, for the targets of Rs 102 / 98 levels.
Infosys Ltd: BUY with a target of Rs 2486, keeping a stop loss at Rs 2358.80
The share price of Infosys has been trading sideways after witnessing a sharp fall from the highs of Rs 2935.60 to the lows of Rs 2186 levels. With Friday's up move, the stock seems to have registered a breakout from its consolidation range.
The stock is now trading above its cluster of moving averages and managed to close above its upper end of Bollinger band, on the back of rising volumes. Trading above Rs 2435, the stock is likely to accelerate the upward momentum. The momentum indicator has exited from its oversold zone and rising.
Traders can create long position now and again on dips up to Rs 2380-2390 with a stop placed below Rs 2358.80 levels, for the targets of Rs 2486/2530 levels.
Vijaya Bank: SELL for a target of Rs 48, keeping stop loss at Rs 52.60
The share price of Vijaya Bank has been trading sideways after witnessing a smart up move from the lows of Rs 45.75 to the highs of Rs 56.10 levels, since then the stock is trading in a sideways range.
This sideways momentum has taken a form of a head and shoulder pattern, which is also known as distribution pattern (at the top).
The stock is finding resistance from its long term moving average and currently trading below its short term cluster of moving averages. The momentum indicator is also rolling downward.
Traders can create short position below Rs 50.80 with a stop placed above Rs 52.60 levels, for the targets of Rs 48 /45.50 levels.
Rural Electrification Corporation Ltd: SELL for a target of Rs 212, keeping stop loss at Rs 227.60
The share price of REC has registered breakdown from the upward sloping trend line. Traders should also note that stock has also registered breakdown from the head and shoulder pattern.
On the daily chart the stock is trading below its cluster of moving averages and closed near lower end of Bollinger band. The implicated target comes around Rs 205 level. The momentum indicator is also declining.
We recommend sell now and again on rise in the range of Rs 223 -- 225 with a stop loss placed above Rs 227.60 for the targets of Rs 212 /205 levels.
(The views and recommendations expressed in this section are the analyst's own )
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