Monday, September 24, 2012

Nifty outlook and trading levels for 24 Sept 12


Negative to gap down opening is expected with extremely volatile session ahead .Bears are wounded and they are only looking for a trigger... if they will get it at any moment they will try to  break 5650 which will act  as very strong  support ....above 5650 we can see tug of war in both....
but selling pressure will be high at higher levels ...
Gold and silver will open with down gap while natural gas may open above 2 % 
Trade in Nifty Futures as per these levels
Buy at / above: 5700   Targets: 5716 - 5735 - 5754 - 5773
Stoploss : 5681
Sell at / below: 5681  Targets: 5665 - 5646 - 5627 - 5609
Stoploss : 5700


Varun worked out  and sent his observation on few scrips which is correct and we can plan trades accordingly ...

1.        Sesa Goa is in consolidation phase.
·         upper bollinger is flat 
·         RSI is also flat and above 70.
·         30 Min chart Shooting star formation, same for 60 min chart
·         trading below upper falling trend line  and 50 DMA at Daily chart 
·         Weekly chart says there is a resistance of 20 WMA at 183 it would not allow to go up.
2.       ACC break down expected – 15 Min TF
·         Death cross buildup.
·         MACD crossover for down side.
3.       BHEL selling expected. – 15 Min TF
·         Its moved below the 10 MA
·         Death cross build in MACD.
·         ADX +DI is going down.
·         MFI also indicating money is going out form the stock.
·         RSI is also Flat and above 70, selling expected.
4.       Bharti Airtel – Selling expected – 15 Min TF
·         Moved below 10 MA
·         Death cross in MACD
·         +DI line is going below the 25 and moving below the ADX line
·         MFI is indicating money is going out of the stock.
·         RSI indicating Selling started.
5.       Cipla – Selling going on – 15 min TF
·         Trading below 20 MA
·         MACD have negative movements.
·         -DI line is above the all ADX indicators.
6.       HDFC Bank – trading at top of up trending channel 
7.       Hero motors corp – Selling expected – 15 min TF
·         Below 10 MA
·         Death cross in MACD
·         -DI line is going above and + DI line is going down- death cross expected
·         MFI – no addition in price.
·         RSI is in over sold zone and between RSI and AVG death cross buildup
8.       HDFC – Selling expected
·         Below 10 MA
·         MACD histogram is flat
·         +DI line is now trying to go down
·         MFI is making low
·         RSI is flat
9.       ICICI Bank – Selling recommended.
·         Below 10 MA and 20 MA
·         Death cross in MACD
·         +DI line is below 25
·         RSI is going down
10.   Infy – Selling going on – 15 min chart
11.   ITC – Consolodation or Selling
12.   JP – Selling or consolidation
13.   JindalSteel – Buying going on
14.   LT – Selling expected
·         Below 10 MA
·         MACD flat
·         RSI oversold zone
15.   M&M – Selling
·         Below 10 and 20 MA
·         Death cross in MACD
·         ALL  Directional line below 25
·         RSI going down
16.   Maruti  - buy at each low
17.   Reliance – Buy at each low
18.   Reliance Infra – Selling zone created
·         Below 10 MA
·         Death cross in MACD
·         +DI line going  down
·         MFI going down
·         RSI at 70 level
19.   SBIN – Selling zone
·         Below 10 MA
·         Death cross in MACD
·         +DI line is going down
·         MFI is going down
·         RSI is going down
20.   TCS – In selling zone – Sell at each high
21.   TATAMotors – Consolidation zone
22.   TATA Steel – Consolidation zone
23.   Wipro – Sell at each high
24.   Bajaj Auto – Consolidation zone
 Trade with stop loss 
Positional traders can hold their nifty long with stop loss of 5595 ....
Will we get this pleasure ?
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