Stock specific

Ruchi soya has support at 93 and resistances are at 113-118



Harrison Malyalam has support at 110 and resistances are at 132-14


 
 
Both these stocks had a long consolidation and may again continue with their primary up trend.However, one should keep quantity low .

A sharp recovery

Markets have recovered sharply on the back of recovery in global markets . The concers about Euro Zone seems to be easing now. Coming days may  see  volatililty and wild swings also.

Bank is  a space to be in .
Dena Bank has support at 80 and resistances at 94-100.

Nagarjuna construnction has support at 180 and resistance at 190-200



Our one of the ideas Zydus Wellness is still outperforming the market.

Central Bank Independence, Transparency, and Accountability

Chairman Ben S. Bernanke


At the Institute for Monetary and Economic Studies International Conference, Bank of Japan, Tokyo, Japan

http://www.federalreserve.gov/newsevents/speech/bernanke20100525a.htm

Wait and Watch

There is fear in the air and as we move forward amidst uncertainties volatility will occur.

Lets watch from  the side lines and  wait for the dust to settle down. Nifty is trading below 4900 its below 200 EMA and its not a time to get in.

Protection of capital is also important.

Is short covering round the corner ?

Markets don't behave the way majority thinks and expects it to behave. When everybody talks about market getting further down  Mr Market don't follow their dictum.

We are purely Technical in the sense that we follow charts only and Nifty  did not close below 200 EMA.
As long as it remains above it bull market is intact. We will have bumpy ride ahead looking at global pictures but we may not tank down .

Jubilant Food has support at 250 and resistance is at 350

Tata Motor has support at 675 and resistance is at 760 .

ICICI bank can  also be looked  into.

Lets see how next week turns out to be but one thing is sure - any positive development on global front may result in short covering .

We are not out of woods: Market may remain volatile

Most of  the traders loose that part of money  in volatile and choppy markets which was earned in trending markets.

Therefore, sometimes its wise to wait on side lines and wait for the clarity to emerge. Aggressive traders can wait for rallies to go short.

Time to book profit: We are not out of woods yet

We bought when there was fear . Now its time to take money off the table as everybody says that worst is over. Merely printing money will not solve Euro problem , it will take some more time before things gets sorted out.

Nifty is hovering around key resistance levels.
Let wait on sidelines with cash in hand for another opportunity.

Trade less, trade well.

Time to book part profit

Our view on last Friday was that most of the global bad news has already factored in and it was time to be greedy and time for buy.Well, it paid off well , as we move forward market is expected to meet resistances . Therefore, its better to book some profit today .

How a technical error resulted in Dow Jones plunging 996 points

In one of the most dizzying half-hours in stock market history, the Dow plunged nearly 1,000 points before paring those losses—all apparently due to a trader error. 
According to multiple sources, a trader entered a "b" for billion instead of an "m" for million in a trade possibly involving Procter & Gamble [PG  60.75    -1.41  (-2.27%)   ], a component in the Dow. (CNBC's Jim Cramer noted suspicious price movement in P&G stock on air during the height of the market selloff.

Be Greedy when others are fearful: Time to take plunge

Well, the carnage in Global markets will be highlighted on every business channel and next morning news paper will be full of headline stories of financial doom.

This is the time to be brave and start buying .
One should look to pick up good stocks from Banking, IT, Auto , Pharma and Capital Goods sector.

HDF Bank, Yes Bank,  Uco Bank, Tata Motors and select metal stocks like JSW Steel, Sterlite can be bought by taking advantage of this gap down opening.
Those who  want to take  less risks can buy Nifty Bees  today and in every fall they should keep on adding.

These panics gives you opportunity to buy. We have been waiting on the sidelines with cash in hand for those dip.
Happy Hunting

Time to revisit our earlier post:The World's Biggest Debtor Nations

On our post of 07-04-2010 we talked about reading about " The Worlds Biggest Debtor Nations" - a slide presentation by CNBC.
Its time to revisit it:

http://swingtradingideas.blogspot.com/2010/04/worlds-biggest-debtor-nations.html

Biocon

Biocon has support at 280 and resistances are at 296-303-310

Environment has changed

Wall street tumbled down on fear of European debt crisis. We were  cautious of this uncertain environment and booked profits and sitting on cash for another opportunity.

Keep Banking stocks particularly Axis, Yes Bank, LIC HF , IT stocks  and mid cap pharma stocks  on your radar. Wait for the market to become stabilise. Metal sector will remain under pressure.

Not taking any position is also a position.

HPCL hits target: Volatility will continue

Our one of the swing trading ideas: forgotten stock " HPCL" is on target.

Market may remain volatile and choppy.

Yes Bank has support at 277 and resistance is at 300


Trade well and have fun

Sugar sector on radar - will it become sweet again ?

Greece has sealed a deal with the European Union and IMF that opens the door to a multi-billion euro financial bailout and will require big sacrifices from the Greek people, Prime Minister George Papandreou said on Sunday.

Lets us see how markets react to this development.
Back home the focus willl be on the next batch of Q4  earnings .

Sugar sectors has been hammered a lot and there are signs of recovery on charts. Kep the sector in focus with Dhampur Sugar and Balrampur Chini in mind.
Torrrent Pharma has started moving up from a long consolidation range. We have covered this stock along with FDC in our blong from time to time and both of them has given decent results.

Torrent Pharma has support at 500 and resistances are at 600-650.

Triveni  has support at 105 and resistance  at 125




 Trade less,Trade well, Trade wise  and have fun.