Market and stock recommendations - 29 April

Yesterday we were spot on yet again with our strategy.

CAUTION: RBI policy meet today. Market may swing wildly up/down based on announcements being made. Trade lightly today.

SUZLON - Looks very weak. Hold for targets given yesterday
SBI - BUY above 1754 Target 1800
ORCHID CHEMICALS - BUY above 250 Target 260

Market ahead week beginning 28 April

Last week our prediction of NIFTY was perfect. Markets seem to b heading further up in May as of now. However, for this week, we advise some caution. There is an RBI monetary policy meet on the 29th of this month which could influence the market. So we will wait and watch how market reacts to RBI's policies. For monday, we could have a slight dip due to profit booking at higher levels. However, this will still be a regular correction in this new uptrend. We have a breakout on nifty charts and this breakout is likely to be sustained for sometime.

The following are important NIFTY supports - 5070, 5000. Its unlikely that we will go below these on monday. Some important stocks and their supports/resistances

CAIRN - 268, 255, 251, 246, 237. Close below 255 is very bearish for CAIRN. It has formed a double top on daily charts (bearish sign)
SBI - 1754 is laxman rekha. For monday short SBI with a stop above 1754. Target 1710, 1680
SUZLON - SELL below 284. Target 275, 268

CAUTION: Though index is looking bullish, some of the heavyweights including RIL, SBI and SAIL are looking come down. So be a little cautious in BUYING. Do not BUY at higher levels.

Today's strategy: SELL at highs and cover at dips

Market view 25 April

NIFTY has taken support at 5000...possible upmove here watchout confirmation on close above 5070. Watch

SRF - has closed above 140 till 150 there are multiple resistances. Above 150 it will be gold.
CAIRN - 255, 268 is the trading range. Either side break will give a good 10 - 20% returns

Market update and stock picks for 24th April

Today is FnO expiry day. We can expect considerable volatility in the market signalling false breakouts and breakdowns. Trade lightly on expiry day. NIFTY as said earlier, is finding it difficult to cross 5070 and 5100 levels. A close above this can take us to 5300/5400 levels in the may series. We will wait and see if this happens. Stock picks for today

SRF - 140 is getting very difficult to cross. One can BUY srf above 140 for a target of 147 - 149. Do not rush to buy and wait for this levels to come
ADLABS - This has still not closed above 730. A close above 730 will take this to 780+ in coming days.
ITC - All set to breakout soon. BUY above 216 for a target of 226.

Note: We have a positional long on RPL for a target of 206+ Position was initiated yesterday.

Two of index heavyweights, reliance and SBI are looking weak so be cautious on every upmove, these scrips have the capacity to pull market down.

Trading Day - 23rd April

Yesterday was a fantastic day. Our daily calls hit their targets and all the weekly calls have achieved their targets to. What else could you ask for in 2 days of trading? Whoever is following this blog must have made a fortune this week. We don't have great global cues to start of with. Locally we are still in uptrend. NIFTY faced resistance in yesterday's upmove exactly at 5070. Today also this level would offer resistance then 5110, 5140. But 5100 will be very very difficult to cross now. At higher levels, be cautious now. You can start hedging your longs with puts from 5100 onwards. We will have these scrips in our watch list today,

ADLABS - above 730 this will have a good upmove.
SBI - 1754 is a make or break

Market update 22 April

We dont have very encouraging global cues to start with. Note our outlook yesterday, market stopped precisely around the 5030 levels. Now its an interesting a make or break situation. Will this run continue upwards??? We will know today. If it continues up and closes above 5010 longs can continue holding for higher targets...however be cautious on the upside until the breakout gets "REAL" this can only be a pullback rally.

For today watch these stocks

SAIL - 180 is strong resistance. If it breaks 180 it will fly. If its unable to cross this level, it can fall to 160.

SATYAM - BELOW 449 it will crash

If you need to know exactly when to buy or when to sell add travellin_techie on yahoo messenger or mail us at nsestocktip@gmail.com

Weekly tips for week starting 21st April

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We had a fantastic time last week. Making a killing in many of the stocks we traded. For the coming week, 5000 levels in NIFTY will hold the key. NIFTY is poised to break out of another triangle with the upper trendline coming around 5030 levels as of today. It looks more likely that this breakout will happen inspite of a CRR hike by RBI. However, its advised not to be over bullish on the market as well. We will consider the turnaround to be real and sustainable only on breach of 5300 - 5400 levels on a closing basis. Continue to stay long in NIFTY and use every dip in market as a BUYING opportunity. Be very cautious near the 5000 - 5030 levels and book any longs that you may hold there. We can always wait for the breakout to trade again.

Some weekly picks starting for this week

IDFC - BUY on dips till 156 for a target of 175
IFCI - BUY for target of 55+
ISPAT - BUY for a target of 37.5
SUZLON - BUY above 303 for a target of 319
SRF - BUY above 131 target 140+

Note: All are positional calls. There are more such calls. If you are interested in getting free calls add - travellin_techie in yahoo messenger for more information.