Wednesday, November 01, 2006
TECHNICAL OUTLOOK 01 NOVEMBER
Nifty 3744.10
Nifty is likely to test 3800 in coming trading sessions and this view holds good as long as Nifty stays above 3720.
Today, if Nifty sustains above 3760, then it could test 3780 and above 3780 it could test 3800
Instead, if it fails to sustain above 3760, then in the downside it could test 3720.
Medium term Outlook of Nifty (dated 01/11/2006)
The medium term trend in Nifty is looking bullish and it has potential of testing 4200 in coming months. And this view holds good as long as Nifty stays above 3600.
As the expected correction around 3800 level, is taking place as a running sideways correction, the present technical setup of Nifty suggests that there would be no major downside in the immediate future. And also if Nifty doesn’t violate 3600 level, we are likely to see a sharp up move towards the next medium term target in coming months.
Long term Investors can remain invested for the next medium term target of 4200 in coming months with a stop at 3600.
Short term Outlook of Reliance is available at www.waveriders.in
Andhra Bank 93.30
The short term trend is looking bullish and it has potential of testing 110 in coming trading sessions. Buy on decline with a stop at 85.
The short term bullish view in this scrip would get negated if it closes below 80.
Long term investors can continue to hold this scrip with a stop at 75 for good upside potential in coming months.
DELIVERY CALLS
Jindal Stainless 123.85
The scrip is in long term bull trend and it has good potential in the long run.
In short term, chart indicates a rally towards 145 in coming weeks. Buy on decline with a stop at 110.
asksathia@hotmail.com
Tuesday, October 31, 2006
TECHNICAL OUTLOOK 31 OCTOBER
Nifty 3769.10
Nifty is likely to test 3800 in coming trading sessions and this view holds good as long as Nifty stays above 3720.
Today, if Nifty sustains above 3780, then it could test 3800.
Instead, if it fails to sustain above 3780, then in the downside it could test 3740.
Allahabad Bank 92.70
The short term trend is looking bullish and it has potential of testing 110 in coming trading sessions. Buy on weakness with a stop at 87.
Long term investors can continue to hold this scrip with a stop at 80 for good upside potential in coming months.
Outlook of GAIL is available at www.waveriders.in
DELIVERY CALLS
Dr. Agarwals 39.55
The scrip is in long term bull trend and it has good potential in the long run.
In short term, chart indicates a rally towards 50 in coming weeks. Buy on decline with a stop at 35.
Medium term Outlook of Nifty (dated 04/10/2006)
The pattern in Nifty suggests that it is likely to exceed its all time high of 3774 in two or three months atleast by few points before going in to corrective mode. The correction in this type of market would be sharp and shallow and also corrections would be retraced immediately.
So, I project a target of 3800 for Nifty in coming months. This view holds good as long as Nifty stays above 3300. Also, as long as Nifty stays above 3200 level, the long term trend of the market would be bullish and it has good potential in the upside in coming years.
asksathia@hotmail.com
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