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
Monday, October 30, 2006
TECHNICAL OUTLOOK 30 OCTOBER
Nifty 3739.35
As expected, Nifty bounced, and sustained above 3700 to test 3740 level and as previously mentioned, Nifty is likely to test 3800 levels in coming trading sessions. And this view holds good as long as Nifty stays above 3700.
Today, if Nifty sustains above 3720, then it could test 3775.
BHEL 2474.55
The short term trend is looking bullish and it has potential of testing 2800 in coming trading sessions. Buy on weakness with a stop at 2400.
Long term investors can continue to hold this scrip with a stop at 2200 for good upside potential in coming months.
Outlook of Maruti and KLG systel is available at www.waveriders.in
DELIVERY CALLS
In short term, chart indicates a rally towards 25 in coming weeks. Buy on decline with a stop at 15.
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
Subscribe to:
Posts (Atom)