INDIAN STOCK MARKET NEWS LETTER FOR 2011-08-17
For 2011-08-17
Market Trend -Short term – Bullish -Intermediate term-Bearish -Long Term-Neutral
Suggested standing placement of fail-safe stops…
If Daily Nifty future Long — exit all contracts at … 4951
If Daily Nifty future Short — exit all contracts at … 5588
Daily NSE Index ( C – 5035 ) Resistance 5061 5106 5177
Daily NSE Index Support 4990 4944
Daily BSE Sensex ( C – 16730 ) Resistance 16813 16953 17175
Daily BSE Sensex Support 16591 16451
Daily Nifty Future ( C – 5027 ) Resistance 5057 5109 5191
Daily Nifty Future Support 4976 4924
Daily Bank Future ( C – 10055 ) Resistance 10128 10241 10428
Daily Bank Future Support 9941 9828
Daily Short Term Sell Calls
High Risk High gain zone with One Day to One Week Time
Index, group a and future based shares
DLF-I ( C – 185 ): Daily Chart Looking Weak: Sell around 190 Target1 – 176 , Target2 – (Paid) : Ressistance1 – 198 – Ressistance2 – 212
HDIL ( C – 103 ): Daily Chart Looking Weak: Sell around 108 Target1 – 97.3 , Target2 – (Paid) : Ressistance1 – 114 – Ressistance2 – 125
IBREALEST ( C – 75.4 ): Daily Chart Looking Weak: Sell around 77.8 Target1 – 71.2 , Target2 – (Paid) : Ressistance1 – 82.0 – Ressistance2 – 88.7
IVRCLINFRA ( C – 39.4 ): Daily Chart Looking Weak: Sell around 42.2 Target1 – 35.9 , Target2 – (Paid) : Ressistance1 – 45.7 – Ressistance2 – 52.0
RCOM ( C – 77.5 ): Daily Chart Looking Weak: Sell around 79.8 Target1 – 73.8 , Target2 – (Paid) : Ressistance1 – 83.5 – Ressistance2 – 89.5
Legends: C-Close, T1- Target one, T2- Target two, R1- Resistance 1, R2-Resistance 2, S1-Support one S2-Support two, Symbol with -I is known as Current Future, -II-Next Month future , -III-Far Month future. As per our level, the trader should take BUY position just around our buy around level and keep the stop of Support1level and the first target would be Target1.If Target1is crossed then Target2becomes the next target with the stop at buy around level .Similarly if price goes around our Sell around level the trader should SELL and keep the Resistance1as Stop and the first target would be Target1. If Target1 is crossed then Target2 becomes the next target with the stop at Sell around level. If any time stop triggered (Buy/Sell) go reverse(buy calls mean go short-Sells call mean go long )- For buy call stop (Support1) triggered- you go short and keep target as Support2and keep stop as Buy around- For sell call stop triggered(Resistance1)-you go long and seep target as Resistance2and keep stop Sell around level
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DISCLAIMER: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on the theory of Technical Analysis and do not reflect the fundamental validity of the Scrip. |
