weekly report

Friday-23-11-2008





Dear Friends,



Look at the 5 minute daily chart. Clear short covering is visible. We feel that

This recovery is not only weekly short recovery only. It had started from midst of the Thursday, generating hope of this pull back rally extended to Monday and few more days.



RSI and MACD show buy mode in last 45 minutes. We advise traders to avoid short in initial minutes.



Nifty levels intra day and weekly

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Nifty is trading at premium of around 11 points which is good sign.



Nifty Close : 2693



Nifty Intra day Pivot : 2650



Resistance level : 2761-2827



Support below 2650 : 2582-2511



Bias : Up.

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Nifty gave recovery after 6 consecutive days of fall, which may continue to our opinion.



On weekly chart, we expect Nifty levels to watch are 2835 and 3040. On cross over of these two hurdles, Nifty can give smart gain. Else after expiry,

We may again witness choppy sessions.



While Sensex can give 9435 and 10126 levels to be watched for further up move.








BSE / NSE Daily Chart, 21-11-2008
Friday
21-11-2008



Current:
8915.21
Prev.Close:
8451.01
Change (Nos.):
464.20
Change (%):
5.49







Current:
2693.45
Prev.Close:
2553.15
Change (Nos.):
140.30
Change (%):
5.49





















Weekly Trading Ideas : 24-11-2008

__________________________________





(1) RELIANCE :





Close : 1124



This stock has given very near to weekly resistance level of 1126. Sustaining above this level can give smart up move of 1220-1315 in this week. However, on daily chart, levels to watch are 1176-1228 on Monday or Tuesday. Buy this stock with Stop Loss 1104.





(2) State Bank of India :



Close : 1183



Buy and hold till in green with target 1233-1284.If it stays above 1148 during the week, you can expect weekly target of 1274-1365.





(3) DLF



Close : 198



After very very long time this stock has shown some movements which indicate that this stock may spurt at any time. Keep small stop loss of 137 only expected target can be 215-232. If this stock can survive above 216 on closing basis, you can expect 252-305 around target in a week or two.

(4) IVRCL



Close : 131



This is also one of the reality stock seen turmoil in last few months.



We advise traders and short term investors to buy with stop loss of just 128

Keeping target of 139-147 in one or two days. On weekly chart it gives target of 148-165





(5) Union Bank



Close : 144



Banking stocks have shown smart recovery on the bourses. We expect banking stock to lead the market once pull back rally is confirmed. You

Can buy this stock with stop loss of 143 just near to Friday close with target of 149-154. Please note down that if this stock does not break 146, you can expect weekly target of 159-174 at least.





(6) Bank of Baroda



Close : 268



One more stock which may give handsome up move in this week.



Buy with strict stop loss of 264. You can re- enter again on all the stocks recommended here on same levels of stop loss again and again, once start trading above stop Loss levels.



Target can be 276-284. Once survive and start trading above 270, next target can be 289-310.





(7) Kotak Bank



Close : 309



This stock has potential to give you huge profits in days to come if market remain in positive zone.



We advise stop loss of 304 with target around 322-335.



All shall note that once it closes above 333. You can expect 391-473 levels subject to market trading in green and it remain above 333.





Small stocks

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We give two stocks for short term trading.



(1) RCOM



Close : 206



Buy till trade above 206 with Maximum stop loss of 200-201. You can expect target of 222-239. Once it closes above 233 , you can expect smart rally of 261 around.



(2) RPOWER

___________



Close : 104



Until stocks trade above 101, you can expect 115-125 on survival above 106. Buy on Monday with stop loss 104, and only after start trading around 106, with target 108-112







Weak stocks :



We expect that both stocks may show weakness despite gave buy signal on daily chart. You can expect creating short positions once start trading below previous day close or start falling from given resistance levels.



(1) TCS



Close : 506



You can expect 528-551 levels if pull back rally survive. Once break 494 or start falling from above levels, lower targets can be 472-437. manage your positions accordingly. No need to short in hurry. Watch this stock on our levels for huge gains.



(2) Infosys



Close : 1184



Till this stock trade above 1158 you can expect 1226-1268 levels in offing.



Once it starts trading above levels and can not survive above this level, you can keep this level as stop loss and can short.



On breaking 1158, lower targets can be 1116-1048


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