FOLLOWNG IS THE VIEW FOR THE COMNG WEEK FOR 11TH JULY TO 15TH July 9, 2011
MARKET TOPPED DUE TO DOWNWARD TREND LINE AND 200 DAY SMA.
ALSO SHORT TERM OSCILLATOR ENTERED OVERBOUGHT AND CORRECTION NEEDED TO MAKE HEALTHIER.
UP MOVE STARTED FROM 5180 LOW HAS ADDED 578 PTS AND ENDED AT 5670 IS NOW PONTING DN FOR SHORT TERM. NEXT WEEK IS LIKELY TO BE BEARISH AND TRADE SHORT IN A WEAK TONE AFTER MONDAYS OPEN.
NOTE: THE OVERALL TREND IS TURNED BULLISH SINCE 5180 LOW. WE CAN CALL IT AS IMPULSE AND IT HAS JUST COMPLETED 3RD WAVE OF LARGER 1 ST IMPULSE. SO THE COMING CORRECTION WILL BE A CORRECTION WITH THE MAIN TREND (WHICH IS UPWARD). HENCE AFTER THIS CORRECTION MARKET WILL MOVE TO NEW RECENT HIGH. The pattern, economic scenario and other sentiment condition reveals the classic chart eristic of wave I which is as under:
Wave one is rarely obvious at its inception. When the first wave of a new bull market begins, the fundamental news is almost universally negative. The previous trend is considered still strongly in force. Fundamental analysts continue to revise their earnings estimates lower; the economy probably does not look strong. Sentiment surveys are decidedly bearish, put options are in vogue, and implied volatility in the options market is high. Volume might increase a bit as prices rise, but not by enough to alert many technical analysts
PRODUCT | CLOSE | DIRECITON | SL | TGT |
NIFTY | 5672 FO | Up matured Down started | 5720 | 5539 and 5470 before 22nd |
BANK NIFTY | 11278 | Up Matured Short –term down | 11460 | 11026 and then 10895 |
REALITY IND | 296.50 | Turned up in weekly May correct mild in daily correction | 277 | 318 to 325 in 2-3 weeks time. Accumulate stock in this sector. |
FMCG | 10302.55 | DOWN started | 10500 | Sell fresh below 10280 for TGT of 10000 to 9800 |
INFRAST | 3146.80 | NEAR RESISTANCE AREA | 3190 FOR SHORT TERM FOR LONG 3080 SUPPORT | EXPECT GOOD OLNLY ABOVE 3133 SUSTAINS. |
MIDCAP | 8112.90 | LOOKS MORE STRONG BUT YET TO RENDER BUY SIGNAL IN WEEKLY. | 8026 IS KEY LEVEL TO WATCH FOR MID CAP | ABOVE 8200 EXPECT 8600 + |
AMBUJA CEMENT | 126.10 | DOWN | 133 | 115 TGT |
AXIS BANK | 1306.55 | DOWN | 1340 | 1286 OR 1270 |
CENTURY | 365.95 | DOWN | 378 | 355 OR BELOW TO BUY |
LIC HOU | 216.55 | DOWN MATURED NEAR PR BOTOTM. | BUY ON DEEP BELOW 211 OR LOWER | BUY BELOW 211 OR LOWER OR ABOVE 226 |
SOBHA | 285.40 | UP | 270 | 310 OR EVEN HIGHER |
GMDC | 159.00 | UP | 150 | 167 AND 176 |
SAIL | 136.10 | DOWN | 144 | 128 OR LOWER |
HCC | 34.05 | 32.30 | UP | 39 AND 44 |
Some of the companies i like and should be under scan are
*VA Tech Wabag Ltd Buy on declines this technology focused company for target price of Rs1800 in medium term.
*Bliss GVS Pharma Ltd Excellent growth in the last two years and good prospects makes the stock good medium term investment for target price of Rs35.
*Elder Health Care Ltd. More upside expected
*Grabal Alok Impex for short term gains.
*SSPDL (erstwhile Srinivasa Shipping),
*Vadilal Enterprises and Ador Welding on the radar of savvy players.
No comments:
Post a Comment