GMDC 29413

THE COUNTER IS IN A DOWNTREND. HOWEVER IT FOUND A STRONG SUPPORT AROUND 140 LEVELS AND NOW TRADING ABOVE 150 MARK. IT HAS FORMED A COUPLE OF DOJIs AND IS GIVING HIGHER CLOSES FOR THE LAST FOUR SESSIONS. FURTHER IT HAS WITNESSED HUGE VOLUMES TOO DURING LAST THREE TO FOUR SESSIONS. RECOMMEND BUY AT 153 WITH THE CLOSING SL OF 143 TGT 170-175 IN SHORT TERM.

TATA GLOBAL 29413

THE COUNTER TODAY WITNESSED MINOR GAP UP OPENING AND GAVE A FIRM CLOSE ABOVE ITS RESISTANCE AROUND 144. IT IS ALSO WITNESSING HIGHER THAN AVERAGE VOLUMES DURING RECENT PAST. WITH INDICATORS TOO LOOKING POSITIVE WE EXPECT THE COUNTER TO CONTINUE TO SHOW INTRADAY STRENGTH. RECOMMEND BUY AT 144.25 WITH CLOSING SL OF 140.4 TGT 152-154 IN SHORT TERM. 

RELIANCE COMMUNICATION 26413

RCOM MOVED VERY SHARPLY DURING RECENT PAST AND KISSED RS.100 MARK. THE MOVE WAS BACKED BY HUGE VOLUMES AND NOW THE COUNTER IS TAKING PAUSE AFTER A SHARP RALLY. WITH THE INDICATORS LOOKING STILL POSITIVE WE ARE OF THE OPINION THAT THE COUNTER MAY CONTINUE ITS UPTREND IN NEAR FUTURE. RECOMMEND BUY AT 93 WITH THE CLOSING SL OF RS.85 FOR THE TGT OF RS.110-115 IN MEDIUM SHORT TERM. 

AB NUVO 22413

THE COUNTER FORMED A STRONG BASE AROUND RS.930 AND RECOVERED FROM THE SAID LEVEL. THE COUNTER HAD RESISTANCE NEAR 968 AREA WHICH HAS NOW BEEN BREACHED ANT IT CLOSED AT RS.981.6. WITH THE INDICATORS LOOKING POSITIVE A POSSIBLE UP MOVE CANT BE RULED OUT. RECOMMEND BUY AROUND 982 WITH THE CLOSING SL OF RS.968 FOR THE TGT OF RS.1025-1040 IN MEDIUM SHORT TERM.

UNITECH 22413

THE COUNTER WAS STRUGGLING TO CROSS RS.28.5 LEVELS ON A CLOSING BASIS. HOWEVER TODAY IT CROSSED THE SAID MARK WITH HUGE VOLUMES AND CLOSED AT RS.30. WE SENSE AN ASCENDING TRIANGLE PATTERN HAS BEEN FORMED ON A DAILY CHART AND EXPECT THE COUNTER TO MOVE UP. RECOMMEND BUY AT 30 SL 28.5 TGT 34-36 IN SHORT TERM. 

COAL INDIA 22413

THE COUNTER TODAY WAS MORE THAN 4% UP SUPPORTED BY HUGE VOLUMES. IT GAVE A VERY POWERFUL CLOSE ABOVE RS.312 AND MAY SHOW INTRADAY STRENGTH IN COMING DAYS. THE ONLY HURDLE IS RS.316.... SO WE RECOMMEND TO BUY ABOVE RS.316 WITH CLOSING SL OF RS.309 TGT   RS.328-332.

CAIRN INDIA : 21413

CAIRN INDIA HAS BEEN IN A DOWNTREND. THE COUNTER RECOVERED SHARPLY AFTER KISSING 267 LEVELS DURING RECENT PAST. IT HAS FORMED A STRONG BASE AROUND 285 ZONE IT WITNESSED COUPLE OF BONCE BACKS FROM THE SAID LEVEL. HOWEVER ON UPPER SIDE IT IS STRUGGLING TO CROSS 300 MARK AND FINDING STIFF RESISTANCE NEAR 298 AREA. NOW THE COUNTER HAS FORMED A LOWER HIGH WHEREAS STOCHASTIC HAS FORMED A HIGHER HIGH. TECHNICALLY IT IS CALLED THE BULL SET UP. THE BULL SET UP SHOWS THE STRENGTH IN UPSIDE MOMENTUM. HOWEVER IT IS JUST A SET UP AND NOT A SIGNAL. THE SET UP IS VERY USEFUL IN AS MUCH AS IT HELPS TO INITIATE LOW RISK HIGH GAIN POSITIONAL TRADE BY SUGGESTING A TRADABLE LOW IN NEAR FUTURE. SINCE CAIRN WITNESSED COUPLE OF BOUNCE BACKS FROM 285 ZONE AND WE HAVE NOW BULL SET UP IN PLACE, 285 ZONE PROVIDES A GOOD ENTRY WITH STRICT SL OF 279.

 

ALLAHABAD BANK 18413

THE COUNTER FORMED A STRONG BASE AROUND RS.122 LEVELS DURING RECENT PAST AND RECOVERED SHARPLY FROM THAT LEVEL. NOW IT IS SUCCESSFULLY GIVING CLOSES ABOVE RS.133.5 A NECKLINE OF ITS VERY RECENT DOUBLE BOTTOM FORMATION. WITH THE INDICATORS LOOKING POSITIVE WE EXPECT THE COUNTER TO MOVE HIGHER. RECOMMEND BUY AT 138.2 WITH CLOSING SL OF RS.128 TGT RS.150-158.

SPARC 17413

THE COUNTER IS NOW SUCCESSFULLY HOLDING ITS 20 DAY AND 50 DAYS EMA ON A CLOSING BASIS. TODAY IT WAS MORE THAN 4% UP WITH VOLUMES  AND CLOSED AT RS.121. WITH THE INDICATORS LOOKING POSITIVE WE SENSE THE COUNTER MAY COMMENCE ITS SHORT TERM UPTREND FROM HERE. RECOMMEND BUY AT 121 WITH THE CLOSING SL OF RS.115 TGT RS.130-135-142 IN SHORT TERM.

NIFTY UPDATES 17413

NIFTY TODAY OPENED ON A FIRM NOTE ABOVE 5700 MARK BUT FAILED TO SUSTAIN AT HIGHER LEVELS AND FINALLY MANAGED TO CLOSE AT 5688. NOW THE OI AT 5600 PE IS ABOVE 100 LAC WITH THE HUGE ADDITION OF 18 LAC IN OI. 5700 PE TOO ADDED 17 LAC IN OI TAKING THE TOTAL OI AT 65 LAC. 5600 CE WITNESSED HUGE LIQUIDATION  OF 19 LAC AND TOTAL OI AT 5600 CE IS 37.87 LAC. 5700 CE IS HAVING HIGHEST OI OF 86.24 LAC AND OI AT 5800 CE AND 5900 CE IS 74 LAC AND 80 LAC RESPECTIVELY. 

SO THE OPTION CHAIN SUGGEST THAT 5600 IS GOING BE A WALL OF SUPPORT AND BULLS ARE HAVING VERY FIRM GRIP ON 5600 MARK. 5700 STILL REMAINS A CRUCIAL RESISTANCE FOR NIFTY. TREND SEEMS TO BE BUY ON DECLINE UNLESS AND UNTIL 5600 IS  BREACHED. 

HUL 16413

THE COUNTER KISSED RS.480 MARK RECENTLY BUT FAILED TO CROSS THE SAME ON CLOSING BASIS. TODAY IT CROSSED THE SAID LEVEL ON CLOSING BASIS, THOUGH THE MOVE WAS NOT SUPPORTED BY HIGHER VOLUMES. EARLIER WE HAD RECOMMENDED THE COUNTER AROUND RS.466 WITH SL OF RS.460. NOW SL MUST BE RAISED TO 478 FOR THE TGT OF 509-515.

 

 

TATA COMMUNICATION 15413

ON  MARCH 23,2013 THE COUNTER RECOVERED FROM RS.210 LEVELS AND POSTED HIGH OF RS.239. IT FAILED TO CAPITALIZE THE MOVE AND SINCE THEN FAILED TO GIVE CLOSE ABOVE 234. THE COUNTER IS DAILY GIVING LOWER CLOSES. NOW JUST KEEP EYES ON 221 ..... ANY CLOSE BELOW 221 MAY INCREASE THE SELLING PRESSURE AND THE COUNTER CAN FALL UP TO RS.208-196 LEVELS...... 

RELIANCE INDUSTRIES : 15413

THE COUNTER HAVING FORMED STRONG BASE AROUND RS.760 BOTTOMED OUT AND ALMOST KISSED RS.800 MARK TODAY. TODAY'S MOVE WAS WELL SUPPORTED BY THE VOLUMES + ALL THE INDICATORS LOOKING POSITIVE WE SENSE THE COUNTER IS ON THE VERGE OF COMMENCING ITS SHORT TERM UPTREND. RECOMMEND BUY ABOVE 796 WITH CLOSING SL OF RS.786 TGT RS.806-816-847 IN NEAR TERM.

UNITED PHOSPHORUS 14413

The counter is trading in the range of its downtrend channel. It kissed the upper trend line of the channel and formed a Pin Bar Candle Stick on a daily chart. It has closed above its 20 Days EMA and now trying to cross its 50 Days. The counter can now either move out of its channel and commence its short term uptrend or failing which the counter may continue to move with the confined range. Intraday Traders can take exposure as per the below mentioned levels.

 

Buy Above Rs.125 SL 123 TGT Rs.128-130-133

 

Sell Below Rs.123 SL 125 TGT 120-118-116

 

 

 

 

 

 

 

CIPLA 11413

THE COUNTER HAVING KISSED RS.354 LEVELS, A CRUCIAL SUPPORT ZONE, RECOVERED VERY SHARPLY. IT CONTINUED TO MOVE WITHIN THE CONFINED RANGE OF RS.401 TO RS.375 AND TODAY IT GAVE A POWERFUL CLOSE ABOVE RS.405. WITH INDICATORS LOOKING POSITIVE WE SENSE THE COUNTER MAY COMMENCE ITS SHORT TERM UPTREND FROM HERE. RECOMMEND BUY AT 406 SL 399 TGT 418-422 IN SHORT TERM. 

RELIANCE INFRA 10413

THE COUNTER FORMED STRONG BASE AROUND RS.320 DURING RECENT PAST. IT HAS BEEN WITNESSING HUGE VOLUMES AND TODAY IT GAVE A CLOSE ABOVE RS.343 WHICH WE BELIEVE WAS THE RESISTANCE ZONE FOR THE COUNTER ON CLOSING BASIS. WITH INDICATORS LOOKING POSITIVE WE EXPECT THE COUNTER TO COMMENCE ITS SHORT TERM UPTREND. RECOMMEND BUY AT 344 WITH THE CLOSING SL OF RS.325 FOR THE TGT OF RS.370-395 IN SHORT TERM. 

AN UPDATE ON HEXAWARE 10413

THE COUNTER EARLIER WE RECOMMENDED NOW FINALLY MANAGED TO CLOSE ABOVE RS.95. EARLIER THE COUNTER FOUND RESISTANCE NEAR THE SAME AREA AND FAILED TO CROSS THE 95 MARK ON A CLOSING BASIS. THE ASCENDING TRIANGLE PATTERN IS BEING FORMED ON A DAILY CHART AND THE CHANCES THAT THE COUNTER CAN KISS RS.101-108 ARE NOW VERY HIGH. WE REQUEST TO TRAIL SL TO RS.92 AND HOLD THE COUNTER FOR THE SAID TARGET.

JAYSHREE TEA 9413

THE COUNTER IS WITNESSING HIGHER THAN AVERAGE VOLUMES FOR THE LAST COUPLE OF SESSIONS AND TODAY IT GAVE A CLOSE ABOVE THE RESISTANCE AREA OF RS.97. WE EXPECT THAT THE COUNTER MAY KEEP UP ITS MOMENTUM AND CAN KISS RS.104 -106 LEVELS IN VERY SHORT SPAN OF TIME. RECOMMEND BUY AROUND RS.99 WITH THE CLOSING SL OF RS.97 TGT RS.104-106.

VOLTAS 9413

THE COUNTER HAS BEEN IN A DOWNTREND AND DURING RECENT PAST IT FORMED A STRONG BASE AROUND RS.75. IT WAS STRUGGLING TO CROSS RS.77 MARK ON A CLOSING BASIS AND TODAY IT CROSSED THAT MARK WITH HIGHER THAN AVERAGE DAILY VOLUMES. LOOKING AT OTHER TECHNICAL INDICATORS WE ARE OF THE OPINION THAT THE COUNTER MAY SHOW INTRADAY STRENGTH AND KISS RS.81-83 LEVELS. RECOMMEND BUY AROUND RS.77 WITH THE CLOSING SL OF RS.75 FOR THE TGT OF RS.81-83 IN SHORT TERM.

HINDALCO 8413

THE COUNTER HAVING FORMED A STRONG BASE AROUND RS.86.5 NOW TRYING TO MOVE OUT OF  ITS DOWNTREND CHANNEL. HOWEVER THE COUNTER IS FACING STIFF RESISTANCE AROUND RS.94 LEVELS WHICH MUST BE CROSSED CONSECUTIVELY ON CLOSING BASIS FOR ANY SUSTAINED UP MOVE UP TO RS.99-103. HIGHLY RISKY TRADERS CAN BET ON THE COUNTER AT CURRENT LEVELS WITH THE STRICT AND VERY STRICT SL OF RS.86.5 FOR THE TGT OF RS.99-103. 

HEXAWARE 8413

The counter is trying to form Ascending Traiangle pattern on a daily chart. Today it gave close above its minor hurdle placed around 92.5. Now the next major hurdle is 95 which if crossed on a closing basis + any weekly close above 95 happens then there is a higher probability that the counter can kiss 101-108 levels. We are bullish on the counter and recommend to enter at current levels with closing SL of Rs.89 for the TGTs of Rs.101-108.

 

 

AXIS BANK 7413

THE COUNTER HAVING BROKE AN IMPORTANT SUPPORT AT 1293 KISSED 1217 AND FINALLY GAVE A CLOSE AT 1229.55. IT WITNESSES GAP DOWN OPENING ON 4TH APRIL AND NOW THIS GAP AT 1266 IS GOING TO ACT AS RESISTANCE FOR THE COUNTER. ON THE DOWNSIDE THE COUNTER HAS NEXT MAJOR SUPPORT AROUND 1207 LEVELS. CONSECUTIVE CLOSES BELOW 1207 + WEEKLY CLOSE BELOW 1207 HAPPENS THEN WE EXPECT MORE PANIC IN THE COUNTER AND IT CAN KISS 1100-1070 LEVELS.

TVS MOTOR 6413

THE COUNTER HAS A VERY STORNG SUPPORT AROUND RS.32 AND RECENTLY THE COUNTER FOUND GOOD SUPPORT IN THAT ZONE. IT FORMED COUPLE OF DOJIs AND THEN A STRONG BULLISH CANDLE ON A WEEKLY CHART WHICH GIVES A SENSE THAT BULLS WON THE BATTLE AND THE COUNTER MAY WITNESS STRENGTH IN NEAR FUTURE. HOWEVER THE COUNTER HAS A MINOR HURDLE AROUND RS.38 LEVELS WHICH ONCE CROSSED ON A CLOSING BASIS THE CHANCES THAT THE COUNTER KISSES RS.44-48 LEVELS ARE VERY HIGH. RISKY INVESTORS CAN TAKE EXPOSURE AT THIS LEVEL. ALTERNATIVELY CONSERVATIVE INVESTORS CAN WAIT FOR THE COUNTER TO CLOSE ABOVE RS.38.

WE RECOMMEND TO BUY AT RS.36 SL RS.31.5 ON CLOSING BASIS TGT RS.44-48

ESS DEE ALUMINIUM

THE COUNTER WE SENSE IS FORMING CUP AND HANDLE CHART PATTERN ON A WEEKLY CHART. VOLUMES TOO HAVE BEEN HIGHER THAN AVERAGE DURING RECENT PAST. THE COUNTER HAD RESISTANCE AROUND 351 WHICH HAS NOW BEEN BROKEN SWIFTLY AND NOW MAY ACT AS STRONG SUPPORT. RECOMMEND BUY AROUND 388 WITH THE CLOSING SL OF 351 TGT 460-470

AXIS BANK 3413

THE COUNTER WAS MANAGING TO HOLD 1293 LEVELS ON A CLOSING BASIS. HOWEVER TODAY IT BREACHED THAT LEVEL ON A CLOSING BASIS AND TESTED VERY CRUCIAL WEEKLY SUPPORT PLACED AROUND 1270 LEVELS. WE BELIEVE IF WEEKLY CLOSE BELOW 1270 HAPPENS THEN THE COUNTER MAY WEAKEN FURTHER AND SLIDE UPTO 1245-1220 LEVELS. WE SUGGEST AVOID BUYING THE COUTER UNLESS AND UNTILL IT CLOSES ABOVE 1293 CONSECUTIVELY.

AP PAPER 2413

The counter had been in downtrend and consolidated around 177 levels. During recent past it moved within the confined range of Rs.177 to Rs.204 and today it broke that range and gave a very powerful close at Rs.208.5. We believe the counter may commence its short term uptrend from here and can kiss Rs.223-226 levels. The counter still has an unfilled gap around Rs.275. Consecutive closes above Rs.226 levels may add further strength and the counter may kiss Rs.275 in medium term. Recommend Buy around Rs.208 with the closing SL of Rs. 187 for the short term TGT of Rs.223-226. Ultimate TGT above Rs.226 seems to be 270-275

 

 

HUL 1413

HUL SEEMS TO BE ON THE VERGE OF COMMENCING ITS SHORT TERM UPTREND. THE COUNTER HAS GAINED 20 DAYS AND 50 DAYS EMAs AND IS TRYING TO FORM ASCENDING TRAINGLE PATTERN ON A DAILY CHART. CONSECUTIVE CLOSES ABOVE 478 LEVELS WE THINK PROVIDE THE TRIGGER TO THE COUNTER AND IT CAN KISS 502-509 LEVELS IN A SHORT TERM. RECOMMEND BUY AROUND 472 WITH CLOSING SL OF 460 FOR THE TGTs OF 502-509