September 24, 2014

25th September, 2014 and Ahead: Breakout Stocks

i) Arrow Textiles

Arrow Textiles
Arrow Textiles has seen strong accumulation off late and the stock has given a nice pop and close above it's 12.25 resistance zone. The stock can head higher towards 15/18/22 levels from here. Try to buy on a dip near 12.5-12.75 zone with a stop loss at 10.5.

ii) DS Kulkarni
DS Kulkarni (Monthly)
DS Kulkarni (Daily)
DS Kulkrani has given a strong breakout on the daily and monthly charts. The stock could be heading towards price targets of 140-150 in a few months. One can BUY with SL at 75 for the above targets.

iii) Allahabad Bank
Allahabad Bank has a price target of 102 after breaking it's crucial support level of 112. Currently trading at 110.25 levels, short near 111.5-112 levels with stop loss of 114.2, TGT: 106/104/102

September 21, 2014

22nd September, 2014: Trading Ideas

i) JustDial

BUY above 1735, SL: 1715, TGT: 1765/1800

ii) AsahiIndia
BUY at 111-113 levels, SL: 108, TGT: 118
Positional BUY at 111-113 levels, SL: 100, TGT: 130/140+

iii) Dhanuka
BUY near 514 levels, SL: 504, TGT: 524/534+

iv) Karur Vysya

BUY near 545-547 zone, SL: 540, TGT: 554/560+

v) Asian Paint
Asian Paint
BUY near 668-669 levels, SL: 662, TGT: 676/680+

vi) Coal India
Coal India
SELL near 347-348 levels, SL: 352, TGT: 343/339.5 and lower levels
BUY above 355, SL: 351, TGT: 361/368

vii) Hindustan Unilever
Hindustan Unilever
BUY above 739.5, SL: 730, TGT: 750/760

viii) ICICI Bank
BUY near 1566-1570 levels, SL: 1556, TGT: 1585/1600+

September 06, 2014

Nifty View: 8th September, 2014 and ahead

Nifty Daily Chart

On the daily chart, we can see the Nifty hovering near the upper range of the rising channel it has been trading in for the past couple of months. This means that we could see selling pressure coming in the markets at current levels. The index could slip to 7960 levels this week if 8150 is not broken. On breaking and sustaining 8150, expect a sharp rally in the market for 150-200 points. On the downside we could see Nifty correcting to 7960/7920/7840 levels. For the medium term, Nifty has strong support at 7720 levels. We are in a strong bull market where all resistances are getting broken and any shorts need to be taken with hedges or proper stoploss. The interesting scenario is that if 8150 breaks and Nifty rallies to 8350-8400 levels, that could mark the last leg of the current rally and a 10% correction could set in.

Nifty Hourly

The hourly chart of the Nifty index shows strong support for the index at 8060 levels. Nifty has failed to sustain any dip to 8060 levels. At the same time the index has been creating Lower highs and Lower lows indicating a good chance of selling pressure. If Nifty does sustain below 8060, expect it correct down to 7960. Put a stoploss for the trade at 8100 (Spot). Buy on a break above 8115, SL: 8100, TGT: 8145.

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