Saturday, April 28, 2007

MTNL - GOLD ETF looks Good for Investment

As investor can accumulate yellow metal now in a secure Demat form, they should also look into MTNL script for the same process.
MTNL, the PSU Telecom giant is not only just a telecom company but also a big real estate owner in India’s two major metros.
So buying can be done in MTNL on every panic fall. MTNL has a strong support at 125.

P.S. : those who have watched market on Friday might have noticed IFCI doing Great Indian Rope Trick. For most part of the day IFCI was languishing around 38 level & in last 35 minutes just flied away.
Does it remind us of Dhoni’s glorious past of hitting all over in slog overs?
Can Dhoni repeat his feats again?
Can IFCI continue to do these tricks in days to come?



Disclosure: I may have position or maybe trading in above said stocks for myself/ family members / friends / Associates.

Tuesday, April 24, 2007

Few stocks for very short period

Some stocks are looking good for extremely short period of 2-3 days.
Stocks like

a.) Dabur
b.) RNRL
c.) IFCI - Do i need to write anything for this stock after so much have been discussed about it.
d.) IDBI - Same old story good till 91.
e.) Birla Corp / Birla Jute

Carrying any positions beyond week end can be inviting for trouble. Try to stay in cash as much as possible.


Disclosure: I may have position or maybe trading in above said stocks for myself/ family members / friends / Associates.

Monday, April 23, 2007

IFCI & Important Events scheduled for this Friday

IFCI looking strong for the next move to 43-45 band.
IDBI has achieved our target of 86.
RNRL has already moved above its resistance of 24.50 & can touch 29 & there is a high probability that all this can happen this week itself.
Next Week might be something different.


On Friday 27th April, there are two major events lined up.
a.) Bank of Japan will announce its six monthly economic data.
b.) US GDP price index to be declared.

Both these events have enough power to affect the course of market substantially.




Disclosure: I am having position in above said stocks for myself/ family members / friends.

Wednesday, April 18, 2007

Time for Portfolio Churning

On Monday Nifty managed to cross the most important resistance of 3975 with a big leap. Now this resistance has become a good support. Check out how exactly Nifty got support at 3975 (Tuesdays Low) & saved the day.
Well we need to see Nifty holding on this support & move up.
At least till April Expiry, there is really no danger of a great fall.

Our IDBI almost meet our second target. Will IFCI start its next & probably its final move tomorrow? Let’s watch.

Friday, April 13, 2007

Nifty - Levels for Next Move using Candlestick & Fibonacci



Taking from last post, Warning Bell did ring & there was a fall on Thursday which was arrested today by Infosys result. Nifty bounced & bounced high.




In Weekly chart, Candlestick Hammer was followed by a big bullish Candle signaling more upside. So far So good, What Next ?










Now the story begins………..





Using Fibonacci levels on daily charts, Nifty can face resistance at 3935 -3945 zone. The graph displays how at each Fibonacci Levels Nifty has faltered first & then moved ahead. Expecting to continue the trend, we can expect a correction or sideway move on Monday from this level.


NIFTY WEEKLY



On Weekly chart of Nifty, 61.8% retracement is at 3975 level. So, Nifty next resistance if 39345 is overcomes will be 3975, & it will be really though to break this level. Only a very good Q4 results can take Nifty above this level.




Now for the larger picture



Watch 3551 + level (50% Retracement) , how it has saved Nifty thrice. Now we are exactly at 3915, moving & sustaining above it will be good for Nifty. Most Importantly, 3388 level is still not tested. Will Nifty kiss this level & when?

MAY may answer :-) No PUN intended


Taking a leaf out of all this; We derive following Nifty levels to be watched carefully.

Upward - 3935 , 3945 , 3975


Downward – 3862 , 3786 , 3761, 3551 & 3388



Disclosure: No positions in Nifty for myself & family members.

Wednesday, April 11, 2007

Nifty - Candlestick Hanging Man on Daily chart



Nifty has formed Doji yesterday on Daily chart & is followed by Hanging Man pattern in Candlestick Formulation. This sounds warning bell.








Though as per Monday's post, weekly chart of Nifty Hammer has been followed by a big white candle, we need to wait till this week end for confiormation.




As of now, Nifty is bit weak & its better to

hold you long positions with strict stop loss. Infy result is round the corner.


Take Care. God Bless You all.

Tuesday, April 10, 2007

IDBI - Big Brother

After IFCI, now its turn of big Brother IDBI to move. Please watch it closely.
Technically also, it looks good. Short term Target can be 82 & 86
More details in next post.





Disclosure: I may have position or maybe trading in above said stocks for myself/ family members / friends / Associates.

Monday, April 09, 2007

Candlestick – Hammer pattern on chart.


Nifty has a bullish Hammer pattern on the weekly chart. According to Candlestick Interpretation, there seems to be a good up move from here.
The hammer formed after a long decline is a reversal bullish pattern. Also it can be a good bottom or support levels. The low of the day a long lower shadow implies that sellers push prices lower during the day. However, the strong close indicates that buyers regained their force successfully. While this reason is enough to take action, it requires further bullish confirmation.
Nifty can touch 4000 in this phase.
But will it sustain that is the million dollar question.

The low of the hammer shows that plenty of sellers remain. Further buying preferably on increasing volume is required for confirmation. Such confirmation could come from a long white candlestick. Hammers are similar to selling bottom and hugh volume can strengthen the power of the reversal.

Saturday, April 07, 2007

IFCI – Ready to Take Off?

According to market sources, IFCI stock is being placed at Rs:45/- to Citi grp. Some guess are that offer may be at 65 also.
Is that the reason why IFCI touched 35.50 yesterday?

Hmmmm. Someone out there knows too much about this counter.

Please take your own decisions as there is no confirmation from either parties.

Nifty Weekly Chart shows Candlestick Hammer Pattern. What does this mean?

Will share the interpretation in next post very soon. Do come back again.


Disclosure: I may have position or maybe trading in above said stocks for myself/ family members / friends / Associates.

Wednesday, April 04, 2007

IFCI - A Term lending organization

According to a reliable source

“By third quarter of 2006, IFCI had a net profit of Rs 229 crore. In the fourth quarter, by divesting its entire stake in ICRA for about Rs 30 crore & 7 % stake in the National Stock Exchange for Rs 800 crore, the company has almost turned in Black. Add to this, NPA of Rs 200 crore has been recovered recently. Summing it up, Net profit might be more than Rs 1,000 crore in 2006-07.”

Further, IFCI will be selling the assets of Hitech Electro Thermics & Hydro Power Ltd. All these will materialize in the early part of 2007-08. It has been learned from a market source that IFCI has additional real estates of worth Rs 800 crore.




Disclosure: I may have position or maybe trading in above said stocks for myself/ family members / friends / Associates.

Tuesday, April 03, 2007

Nifty - Dead Cat Bounce?

As expected & expressed in last blog, Nifty bounce backed.
Now we have to decide to stay or exit. What happens next?
Buy only if you are convinced; else dump the shares to buy them again 10% below shortly.

Will Nifty touch 3250?

Why Not. A dangerous Game is about to begin, or already in play?

Monday, April 02, 2007

NIFTY - Air Ambulance Service Required

Traders who are holding from the sky high level of 14000+ , might now require Air Ambulance service very shortly if they still hold on to their stocks.
It is very necessary to act thyself. Be what you are. Traders trying to pose as long term investors should act as a traders only & with strict discipline should cut their long positions or else you are trying to hold a falling knife.

As expected, Nifty crashed from the higher level & the speculative traders are caught in margin pressure. Time & again, this things happen & we name them bloody Monday, Tuesday or Friday. Still we continue the same thing, hurting our self & our dear ones.
Technical Recovery might be on the cards tomorrow, overall picture is very dim. Global clues are also not heartening. Try to use any upside , if any, for exiting your longs, at least partially.

Please take care of yourself & your Dear Ones. Play within your limits.
God Bless You All.

Diclosure : I dont have any short position in market for myself/ family members / friends / Associates.