TATASTEEL DAILY CHART ANALYSIS

Technical Desk Call: 28March2016 

Future Strategy:

Sell TataSteel Fut(Apr) 311---310  Stoploss 322 CB Target 281---271 Time-frame 10---14Days

 Option Strategy :

Buy Tatasteel 280 Put (Apr) 3--4    Stoploss Rs. 1  Target 10--12

 

Justification:  The stock has seen a sharp rally in current march series from its latest double bottom range 210-220 till today's high of 218 which was almost double top formation on daily chart. At current juncture, the stock bottomed out from 210 level to sharply bounced till 318 which on retracement chart if we see than today it has faced a stiff resistance level around 320 level on closing basis and had sharply corrected as expected which suggest some profit booking to emerged till level of 280---270 where again a stock can consolidate for some time. 

At the same time, we are also observing a strong resistance and overbought indication on RSI and a negative divergence on MACD on daily chart which suggest some reversal on card. So considering current chart structure, we believe that this recent up move was mere a pull back of sharp fall in the counter of the past and thus we are again expecting some selling pressure to emerged again in this counter. Hence traders are advised to take short position as shown above.

Diwali Muhurat Trading Picks-2015

Dear SMTians,

1. SUZLON ENERGY @CMP 21.50--22  Target 45---50 Timeframe Dec2016

2. RelComm @CMP 76--78 Target 125---150 Timeframe Dec2016

3. State Bank of India @CMP 242--244 Target 400 Timeframe Dec2016

4. RECLTD @CMP 238--240 Target 400 Timeframe Dec2016

5. HDIL @CMP 67--68 Target 125 Timeframe Dec2016

6. IRB Infra @CMP 238--240 Target 400 Timeframe Dec2016

7. JUSTDIAL @CMP 760--770 Target 1800 Timeframe Dec2016

8. ABAN OFFSHORE @CMP 218--222 Target 500 Timeframe Dec2016

9. TVSMOTORS @CMP 282--285 Target 500 Timeframe Dec2016

10. ONMOBILE @CMP 95--96 Target 200 Timeframe Dec2016


Remarks:: Dear Traders/Investors please consent your financial adviser before taking any disciplinary action based on above recommendation. we or the owner of this blog will not be held liable for any financial loss incurred by the investor or traders. The owner of the blog is not the SEBI registered RA (Research Analyst). Please read our full disclaimer on the blog.

sensex-nifty market outlook

Market Cues :

Indian markets are expected to open in green tracking SGX Nifty & Asian peers. U.S. stocks ended Thursday’s session modestly lower for second consecutive day, as investors turned cautious ahead of an important employment report due on Friday. Key indexes swung between small gains and losses before ending the day slightly lower, as investors were weighing a possible rate hike in December, 2015. Notably, Energy, Utilities and Materials were the biggest decliners. European stock ended the day in red, as the pound dropped after Bank of England gave a downcast outlook for the British economy, saying that weakness in emerging markets will drag on the growth and inflation prospects. Poor quarterly earnings led to correction across the Wm. Morrison Supermarkets and Randgold Resources stocks on Thursday. Indian markets ended the day in red for second consecutive trading session. With outcome of Bihar Exit polls later in the evening, investors turned cautious. Key indices witnessed correction in the afternoon trade and they closed 1% lower.

Sensex (26304) / Nifty (7955)

We had a soft opening yesterday mainly on the back of mixed global cues. Subsequently, the benchmark index kept on falling throughout the session to close with a percent cut. Quite surprisingly to most of the traders (including us), we witnessed extremely weak session and as a result, the Nifty eventually slipped below the 8000 mark for the first time in last four weeks. Cosidering yesterday's session, it seems that the bulls are opting to stay out of the market just ahead of Bihar election result. Technically speaking, the Nifty has now broken down marginally from its lower end of the Channel. Going forward, if the index manages to stay below 7920 then we may witness an immediate correction towards 7850 - 7800 levels. On the higher side, 8020 – 8060 are likely to act as a strong resistance. It's advisable to stay light on positions as the election outcome on Monday may bring in higher volatility in our market.

Key Levels
Support 1 – 7920 Resistance 1 – 8020
Support 2 – 7850 Resistance 2 – 8060

 Bank Nifty Outlook - (16995)

In yesterday's trading session, the Bank Nifty index witnessed another gap down opening and continued its negative momentum throughout the session before ending the day with losses of 1.31%. As we have mentioned in our previous report, the breach of crucial support levels of 17170 with gaps indicates resumption of the corrective down move. The index is now approaching its next support level of 16888 which is 50% retracement of the previous upmove. The index may give a minor pullback move from the mentioned support; but, the broader trend will continue to be negative unless the prices show any reversal signs. The immediate support for BankNifty index are placed around 16888 and 16620 whereas resistances are seen around 17200 and 17475.

Key Levels
Support 1 – 16888 Resistance 1 – 17200
Support 2 – 16620 Resistance 2 – 17475

nifty and banknifty market outlook

Market Cues:

Indian markets are expected to open flat tracking SGX Nifty. U.S. stocks ended the Wednesday’s session slightly lower, taking a pause after two straight days of gains. Main indexes retreated as Fed Chairwoman Yellen hinted that a 25bp rate hike in December would not derail the economy or housing market. Notably, Energy and Consumer Discretionary were the biggest decliners. European stock markets rallied on Wednesday after ECB President Mario Draghi reiterated that bank is ready to provide more stimulus in December if required.

These gains trimmed after Janet Yellen hinted at rate hike possibility in Dec-2015. For FTSE 100, Glencore was the biggest gainer of the day as it reported significant progress on its plans to cut down the net debt by FY2016-end. Indian markets lost the previous day's gains on Wednesday’s trading session as benchmark indices fell marginally, despite the positive global cues. Indices started on a strong note, with Nifty trading above 8100-mark, but could not sustain gains in the afternoon trade as profit booking was seen across heavyweight stocks. Private sector bank, healthcare, technology and select oil stocks pulled the market lower.

 Sensex (26553) / Nifty (8040)

Yesterday, our benchmark index opened with nearly half a percent upside gap citing to cheerful mood across the globe. However, once again, the unsure bulls were overshadowed by the bears as we witnessed a decent correction throughout the session to close tad below the 8050 mark. As mentioned in our previous report, the index made an attempt move higher. However, similar to Tuesday's session, our markets faced a strong selling pressure at higher levels, which is not an encouraging sign. Despite this, we maintain our opinion that the index is likely to remain within a range of 200 points before confirming next direction of the market. On the higher side, 8120 – 8180 are likely to act as a strong resistance; whereas, 7950 is seen as a crucial support. Traders can focus on stock specific moves by following proper exit strategy.

Key Levels
Support 1 – 7995 Resistance 1 – 8120
Support 2 – 7950 Resistance 2 – 8180

 Bank Nifty Outlook - (17221)

Yesterday, the Bank Nifty opened with an upside gap of more than 100 points and started correcting from initial trades. The selling pressure was very sturdy as the index continued to make lower lows throughout the session. The banking index breached the low of last two sessions and eventually ended the session with a loss of 0.60 percent over its previous close. Going forward, a sustainable move below 17170 levels may drag the Bank Nifty towards 16930. On the flipside, the immediate resistance for the index is placed at 17466 and 17565 levels.

Key Levels
Support 1 – 17170 Resistance 1 – 17466
Support 2 – 16930 Resistance 2 – 17565

Sensex- Nifty Market Outlook

Sensex (26591) / Nifty (8061) 

Yesterday, our benchmark index opened slightly higher in-line with cheerful global bourses. However, the bulls failed to keep the momentum going as we witnessed a gradual slide within a narrow range to close tad above the 8050 mark. Monday’s recovery in the latter half led to a formation of ‘Dragonfly Doji’ pattern on the daily chart. As a result, the index started the session on a positive note however, the follow up buying was clearly missing. Despite this, we maintain our opinion that the index may still give a minor bounce back towards 8120 – 8180. Since, this can be termed as a pullback of the recent fall; we would advise not to trade aggressively on the long side. On the flipside, a sustainable move below 7950 may trigger pessimism in the market, which may result in a continuation of this downward move towards 7850 – 7800 levels. At this juncture, for next few days, we expect a range bound action within 200 points before confirming next direction of the market. Traders can focus on stock specific moves by following proper exit strategy.

Bank Nifty Outlook - (17326)

In yesterday's trading session,the Bank Nifty index traded in a narrow range and ended the session on a flat note. During last week, the index gave a breakdown from a rising trend line support with a gap down opening. As per the gap theory in technical analysis, the breakaway gap created last week should

now act as a resistance on pullback moves. The gap area seen last week is in a range of 17682 - 17738 and hence, we may see a pull back move towards the mentioned resistance zone in near term. Going forward, the intraday resistance for the index is placed at 17565 and 17682 levels. On the flip side, the immediate support in the index is placed around 17260 and 17170 levels.

Nifty :Key Levels
Support 1 – 7995 Resistance 1 – 8120
Support 2 – 7950 Resistance 2 – 8180

Bank Nifty:Key Levels
Support 1 – 17260 Resistance 1 – 17565
Support 2 – 17170 Resistance 2 – 17682

TATASTEEL

TECHNICAL DESK CALL : 12 AUG 2015


Positional Strong Buy Tatasteel above 255 Stoploss 245 Target 270---275

tatasteel daily chart- Fibonacci analysis example

Remarks: Tatasteel stock on daily chart looks interesting from the point of view of some consolidation is being done here in the range of 245 to 255. the stock had been in a deep correction from past 3 months from the high of 385 to low of 245 and now after its recent quarter result better than market expection we are of the view that this stock is poised to give some technical bounce back at least upto 285. so we advise traders and investors to look out for the stock with above given recommendation...
Read our disclaimers

Sesa Sterlite Ltd

Technical Desk Call : 18 Sep 2014

Positional Call - Strong Buy above 288 Target 295+++310 Stoploss 275

Remarks: SSLT on daily chart is poised to give Flag Pattern Breakout once it surpass 295 resistance on the chart. from last one week the stock is in consolidation zone between 275-285 area and has stonge support at 273 (100DMA) which is good support for the counter in near term. RSI and MACD both the indicator suggest some momentum is expected on upside once this counter surpass its resistance level of 295. Advise traders and Investors to take position as per your risk appetite. Read our disclaimer 

Power Finance Corporation

Technical Desk Call : 08 Aug 2014

Positional Call -Strong Buy above 272.50 Stoploss 259 Target 288 

Remarks: PFC on daily chart looks pretty good for time being as it is now consolidating around 265 - 272. this counter has given healthy profit booking from its recent high of 344 to 256 low and now hovering around 270 level. if we plot retracement level on daily chart from its high level than 38% retracement level comes to 288 which we are expecting the counter to touch this level in coming days. we advise clients/traders or investors to trade after reading our disclaimer.

TATASTEEL

TECHNICAL DESK CALL: 21 Jan 2014

Positional Strong Buy TATASTEEL (FUT) CMP 383.50 Stoploss 374 Target 395

Remarks: Tatasteel on daily chart looks attractive for the time being as we draw retracement theory on daily chart from recent high of 435 to low 370.....38% retracement comes at 395 so we advise traders/investors to trade for this target with all due diligence...

HINDUNILVR

TECHNICAL DESK CALL: 20 JAN 2014

Positional Strong Buy HINDUNILVR (FUT) cmp 560 Stoploss 538 Target 580+++601

Remarks : Hindunilvr on daily charts looks attractive from the point of view of dad cat bounce as it has been from past many period it is under performing the market  and had corrected from September months high of around 685 to 538 recently mad low so from that point it is now making some consolidation before it slip any further on downside we are expecting the stock to touch 38% retracement level i.e. 594....please read our disclaimer

Karnataka Bank

Technical Desk Call : 20 Dec2013

Positional Buy KTKBANK Above 103 Stoploss 98 Target 112

Remarks: KTKBANK on daily chart had given Ascending Triangle Pattern breakout above 103 level and also has been able to give Two consecutive close above this level so we are of the view that the counter is ready to touch much higher level of atleast 112 where it can phase a stiff resistance and pause for a while...read our disclaimer first before investing. 

L&T Finance Holding

Technical Desk Call: 07 Oct 2013

Positional Buy L&TFH above 72.80 Stoploss 64 Target 85+++90

Remarks: L&TFH on daily chart had given Cup & Soccer pattern breakout with spike in volume which is above its 10D average volume and also the counter from past many days has been trying to consolidate in a narrow range and finally now it has given breakout on upper side above 72 level so we advise traders or investors to trade as per above mention level...  

L&T Finance & Holding

Technical Desk Call: 06 Sep 2013

Strong Buy L&TFH above 61 Stoploss 54 Target 72+++78

Remarks: L&TFH on daily chart has give good breakout on closing based with good spike in volume from  last one quarter so based on Volume Analysis our technical team is of the view that the counter is on a strong upmove for short term target of 78 and ultimate target of much higher level (Disclosed to Clients only) in coming days.

HATHWAY CABLE

Technical Desk Call:23Aug2013

Strong Buy HATHWAY above 272 Stoploss 262 Target 285+++290

Remarks: Hathway cable on daily chart has given good jump from 235 to 275 in week and from last 5 days it is in a consolidation mode before it gave good breakout above 272 on today's trading session with below average volume but we are on the view that above these level the counter will definitely generate buying momentum upto 290. Read our disclaimer 

HINDZINC

Technical Desk Call - 08Aug2013

Strong Buy HINDZINC above 102 Stoploss 97 Target 112

Remark: Hindzinc on daily chart looks good and we are anticipating this counter to form 'W' pattern and also it has given good breakout from its sloping downtrend trend-line and the counter is sustaing above this trend-line so our research team is of the view that it should easily cross our target zone area of 110-112 in coming days. 

SKSMICRO

Technical Desk Call - 26July2013

Strong Buy SKSMICRO above 110 Stoploss 102 Target 119 +++ 126

Remarks: SKSMICRO on daily chart looks good and we are anticipating the counter to bottomed out around 102 to 105 level which it is holding since last quarter and today the counter has given good breakout on upside with huge volume and had also delivered good quarter result so we are of the view that on coming days we are expecting the stock price to go 125 to 140 level in a month time period. Read our disclaimer.

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HDIL

Technical Desk Call : 15July2013

Strong Buy HDIL above 41 Stoploss 39 Target 46

Remarks: HDIL on daily chart is poised to give Triangle Pattern breakout above 41 which can lead counter to much higher level in coming days also RSI momentum is on positive side so we advised our Readers,Followers or Investors to take position as per your risk appetite. Please read our disclaimer.

RPOWER

Technical Desk Call-08July2013

Strong Buy RPOWER above 71.50 Stoploss 66 Target 79

Remarks: Today on daily chart rpower has given good breakout with spike in volume and also RSI is in positive zone so we advise readers/traders/investors to buy this counter with above mention level.Read our disclaimers

Buffettlogy

Look at stocks as business, look for businesses you understand,

                              run by people you trust and are comfortable with,
         
          and leave them alone for a long time.         

                                             -Warren Buffet

News Delhi Television Ltd

Technical Desk Call - 18June2013

Strong Buy NDTV above 91 Stoploss 84 Target 97 - 99

Remarks : The counter has given good decisive breakout on daily chart with huge volume which is almost four times of its last 10D average volume on daily chart so based on Volume indicator we are of the view that stock should easily move above 91 level with target price in range of 97 to 99 where it may find some resistance level to give sustain movement for higher upside in longer time period. 

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