NIFTY INTRA UPDATE: 21 MAY

 

NIFTY reversing from 61.8% lvl can give 4800 tgt in coming days. Speaking of Intra HNS pattern is in formation, Shorted at the retest of the trendline.

 

NIFTY INTRA TRADE: MAY 21

Uploading Nifty Intra Possible Trade for today, comments in charts…

Power Sector: Stocks to watch in Turbulent TImes

Hi,
Just thought to post some potential sectoral pick. Recent turbulent time has always opportunity locked somewhere. And power sector is looking awesome. Will post some detailed picks after market but power stocks like Torrent Power, Bgr Energy and others are holding nicely and expected to gain momentum in the coming days. Suzlon can also moves if we go by the power analogy, though its a wind power company but still its standing at attractive junction @ 63 it looks awesome to pick currently its been in some long unwinding stage but still has potential to fire up.

Happy Stock Picking!!!

APTECHT: STOP LINES FOR INTRA

 

 

Aptecht trade is still on, just putting some stop lines for intra day trade.

APTECHT COMPUTERS: BOTTOM FISHING

Hi,

Time to bottom fish a stock which can give some good gains in the time span of 1-2 days, basically its a bottom fish. Targets are 150+ and stop loss on closing basis is 144 ( a tight one), instead buying right now one can buy before closing.

Hope you liked it.

STOCK PICKS: 13 MAY

 

Hi, updating some charts which are my favourite long picks:

Hope you liked it!!

ESCORTS: NEAR ITS HOURLY BREAKOUT

 

ESCORTS: A very important level for it, 188.5 closing will open a new range for it. I just love this stock.

 

STOCK CALLS: MAY 10

Hi,
One Long call for IBREALEST as earlier posted this stock got some good buying interest.
target are 166+ hopefully intra.




One Short Call.

LITL: Earlier SL got hit of 59.5 but still short on this stock coz of pathetic volume.



Hope you liked it.

LITL: BREKADOWN CONTINUES

Hi,
Attaching chart of LITL, can short from here with SL 59.5.


Lets see how far we can plunge downside.

Market Stats: May 05

Hi,

So we broke important support yesterday. Weakness was clear in the background on charts as well as on FIIs money flow, and the anomaly on short on Index and long on stocks which everybody including me was following, was broken as stocks and index swinged downward with more than 100 points swing in Nifty Intra. FIIs sold 14.7 lacs of Nifty and open interest increased by around 16 lacs, clearly Retailers as well as FIIs were in sync this time.

Earlier days Gap of Nifty at 5250 levels remained open which indicates the rampant bearishness on the index. Clearly everybody including market experts were confused with the negative co-relation between index and stocks, but what can one do if charts of Index were bearish and at the same time stocks were giving wild swings. Clearly that's the charm of the market everybody wants to make quick buck no matter co-relation works or not and I was too not an exception, so got some stop losses hit on individual stock calls yesterday.

As we've broken out important support yesterday and there's literally no put builtup on downside that we can call support so we can this time go below 5000 in coming days unless any significant amount of put builtup shows up. Downside supports are:

5111 161% retracement
4970 262% retracement



One more important support is placed at 5030 at the TL. will be interesting to see if TL holds or not.

Review of Stock Calls of Yesterday:
Apart from IndiaBull real estate where price declined with fall in open interest indicating short builtup, other stocks tried to stay firm but finally long unwinding is seen.


Apollo Tyres: I was expecting a bounce from the current levels but as Nifty cracked 5200 stock broke out too. Open Interest cut yesterday was 4.1% with stock plunging by 3.1 % indicating clearly that Longs were unwinded.

India Bulls: A small built up of just .3% in open interest built up with 5% cut in stock, still indicating that market is not in a hurry to short this stock, but additions can go on as Index clashes.

HDIL: Same story with 2.3% cut in open interest stock plunged to 4.1%, Longs of a day before yesterday were unwinded but not fully thats fishy, so again hopes of Reality sector got buried with Nifty.

Bombay Dyeing: One of the few interesting stock where the quantum of fall is always restricted to mostly 3%, fell yesterday to 1.6% and is now very near to crucial 560 base.

Escorts: That's the only stock which closed positive .7% at 178.75 and didn't hit positional stops of 174/170 but still exited from all stocks, will take new position above 180. Looking at this stock I some time wonder that this stock must get some place in Nifty, quite a strong stock on charts indeed.

Hope you liked it.

Market Stats: May 04

Hi,
As I've been continuously pointing about FIIs flow, Nifty seems to be waiting for FIIs money to move up. Yesterday FIIs sold 19 lacs of Nifty and Nifty combined O.I increased to grossly 11 lacs. For the current series I'm assuming that all the open interest is built on short side till some major shakeup happens on and above 5250-70 levels. Clearly market is short on Index and Earnings are keeping stocks in buzz.


One gap is yet to be filled hopefully in this week as 5200 is holding so far with impressive 73 lacs shares of O.I in 5200 put. But without any inflow, probability of getting past 5300 is quite low. On upside there is 63 lacs shares builtup of O.I which at 5300 call should surpass 5200 put if FIIs continue to trade in the same trend.

Stock Picks.

Some individual stock which are looking good are:

IndiaBull Real Estate: Stats and chart already mentioned, has successfully bounced backed from the shake off, and is expected to go past 180 in coming days.

Apollo Tyres: Looking good at current levels and spike from here is expected as yesterday it has shown some support and positive RSI divergence.

Bombay Dyeing: A nice buy above 580, target for the coming days is 600+.

HDIL: Yes I'm very optimistic for this stock, once it forms a good base above 264 or any Wide range bar above these levels can push this stocks to 280-300 levels.

ESCORTS: Same view as earlier, hold this stocks unless it breaks down 174/170 on closing basis.

Hope you liked it.

NIFTY Intra: Pathetic Volume

Hi,
Posting Nifty Intra Chart


Clearly volumes have gone for a toss and Nifty seems to be struggling just to stay above 5200.
A breakdown from this consolidation can give sub 5200 levels today itself.


HDIL: well stepping into reality sector stock specially HDIL is a bit risky but still I'm looking into 261% level which is coincidentally 261.8 for HDIL, If some volume strength is seen around these levels it would turn out to be amazing buy. Any WRB on the upside is a buy but don't short at this level.


Hope you liked it.

Reality Sector - Time to Accumulat

Hi,

Seriously the sector is looking promising as compared to other sectors as far as valuations are concerned. Individual stocks of Real Estates are showing signs of Accumulation and could be a fast runner whenever Nifty bounces back from 5200/5100 levels, that's for sure. Overall there's nothing wrong with sector, as per me its just a shake off and now its best time to have a re look at stocks like HDIL and DLF.


On Charts, BSE Reality is showing signs of a pullback, last two candle are quite bullish in Nature, and interesting part is that HDIL haven't moved at all and is at multi month low. HDIL has been a hot shot pick for FIIs and going by the fundamentals of real estate companies, FIIs must be giving a thought to pick and accumulate these stocks in the so called shakeups like IBRealestate.

For this morning Nifty seems to be in pressure on the backdrop of Euro zone crisis, levels of 5200 will be interesting to watch.

Hope you liked it.

CALLS REVIEW

Hi,
Reviewing my earlier writeups.

ESCORTS:

Though stock has broken out of Ascending triangle, but volumes confirmation lacked yesterday, also it broke the RSI trend line, but as far as it holds 178 or 176 to be on more conservative side some good range expansion can be seen in coming days. New buying above 50 RSI would be safe to take long position.

IndiaBulls Real Estate:

IBREALEST gave awesome move yesterday around 7% intra. It has become now one of my favorite pick among the Real Estate pack. On daily chart it has shown some god reversal signs and also it has broken its falling channel. Breaking past 180 levels would be interesting to see.

NIFTY:

As mentioned last time volumes were lack luster as FIIs shunned from buying Nifty and same fashion continued yesterday, FIIs sold to the tune of 4 crores in Index Future. Though we can't jump into conclusion for shorting further, but one thing is clear without FIIs support our charts will be pathetic like this. On RSI as mentioned earlier, that once we reach 5270-80 zone RSI will be again overbought (last time it was over bought on 22nd of April, which is the reference peak for the earlier fall and a falling trend line started exactly from there.) Sort of same thing has happened this time also as we hit 74 reading this time and currently in the falling trendline of RSI, will be interesting to see how far we can hold this falling trendline in this stretch.

Hope you liked it.