Be stock specific

Nifty has rallied up after the much awaited RBI credit policy.
Nifty has supports at 5350-5400 and resistances are at 5500-5550.

TVS Motor seems to be  a good buy it has support at 124 and resistances are at 150-160

Momentum is expected to continue

Market may see continuation of momentum. Nifty has supports at 5400 and resistances are at 5500-5550

Bata India has support at 270 and  resistance at 309.



Deepak Fertilzer has support at 142  and resistance at 180

Nifty Breaks out

Nifty has come out of the range it has been trading for the past five days.
Now the supports are at 5350-5400 and resistances are at 5500 and 5550.

Bombay Dyeing has support at 510 and resistances are at 580-600.

JP Associate has support at 125 and above 133 it may retest 140-150

Nifty in range

In our earlier post we emphasized on Nifty trading in range for  a few trading sessions. This is what happening these days. Nifty is trading in  a tight range of 30-50 point. Markets do  not trade in  a range for  longer time. Sooner or later it will break up/ down in any one direction. Which direction ? We do not know.


Most of the action is in individual stocks and  PSU Banks stocks are outperforming.

Central bank of India has support at  140 and resistances are at 160-165.

Bank Of Maharastra has support at 60 and resistance at 75.

Nifty set to trade in USA from today

As per the NSE now Nifty can be traded by US investors from today in Chicago Mercantile Exchange (CME)  from today. CME is introducing two contracts : E - Mini and E - Micro S & P CNX Nifty Futures.US investors will be able to trade Nifty in CME Globex for 23 hours.They will not be able to trade it from 8 Am to 9 Am  (IST)

What impact will it have on our markets ? Well, let'swait for some more time to see its impact.

Today markets may see gap down opening. Mid cap may continue to outperform.
But short term traders should keep Index stop of 5300  on closing basis for their long positions.


SRF has support at 240 and resistance at 290


Mothersons Sumi systems  has support at 145 and resistance at 200

Sector Buzz : Textile

"If someone feels that they had never made a mistake in their LIFE, then it means they had never tried a new thing in their LIFE" - Albert Einstein


TCS came out with better than expected  results this may augur well for Mid Cap IT space . If Rolta is able to trade above 185 then it could retest 200 with support at 180.


Nifty is finding support at lower levels and as  long as 5300 is held it remains a buy on dip market.
Textiles stocks like SKumars, Crew Bos , BRFL yesterday had a Price  and Volume breakout.


BRFL has support at 260 and resistance is at 300.

Guj Alkali has support at 125 and resistance at 150

Trade less, trade well

Nifty may remain in a range for some time

Yesterday Nifty failed to sustain above 5400 . It has support at 5300 zone and may trade in  a range  for a few trading sessions.There has been lot of build up in Nifty Put as the implied volatility is low .
TCS will come out with result today .

Exide Industries is a good buy on dips . It has support at 130 and resistance at 150.


Our earlier long term trading ideas like Castrol and Zydus wellness are out performing the broader market.

Sector Buzz : Metal and Soft commodities.

Commodities surged up in LME on expectation of  rising global demand .
Sugar futures rose for a second day in New York and London as Thailand repurchased the sweetener for the first time in more than 30 years, fueling speculation that demand will stay strong as buyers add to stockpiles.Sugar stocks being cyclic in nature are good long term bet.


Hindalco has support at 145 and resistances is  at 165 .

United Phos. has support at 172  and resistances is  at 196

Aptech has broken out with spike in volume it has support at 140 and resistances are at 160-170

Keep on booking  profits as we move higher.

The Mental Aspect of Trading By Linda Bradford Raschke

Many traders quickly come to acknowledge that despite being familiar with winning strategies, systems, and money management techniques, trading success is dependent on your psychological state of mind.


Trading is a performance-oriented discipline and Intellect has nothing to do with your ability as a trader.
 
This is an useful article  one can read it by visiting the link

http://www.traderslog.com/mental-aspect-of-trading/

Sector Buzz : NBFC

NBFC stocks have been in strong uptrend and of late some of  them are trading at life time high .Mahindra Fin , Dewan Housing Fin, Shriram Transport , GIC housing fin , Bajaj Auto Fin : all of them are trading at their new highs.Some of the PSU banks like Canara Bank  is also at life time high. Well, from a trading perspective new highs will result in newer highs as stocks do not face any resistance and one should buy . From an investment perspective one should wait for dips to enter.

Mahindra and Mahindra Finance  has support at 475-480 and resistances are at 550-580.

Tata Motors  has support at 770  and resistances are at 823-855.

In mid cap IT one can also look at 3 I infotech with  support at  63 and resistance at 75

The week ahead

Nifty may face hurdles at 5400  but overall the undertone remain bullish. Infosys results will come out on Tuesday and it will be in line with expectations. Lets see how decoupling theory works out this time so far our markets has shown strength  as compared the global markets.

Triveni Engr has support at 100 and resistances are at 120-127

Godrej Industries  has support at 165 and resistances are at 200-220.

Trade less , trade well

Nifty is on the verge of breakout from a flag

Nifty has been trading in  a channel and it can be  considered as a  bullish flag also. We are giving below the chart of Nifty.

If  Nifty is able to  trade above the upper line of this channel and stays above it then it may reach 5600 . With most of the global markets trading below 200 dma at present it  may seem  a unrealistic target  but markets have their own mind. Lets see how things turns out to be.

Oil and Gas sector may be the next leader if Nifty has to reach those targets.

Yes  bank has made a rounding bottom  pattern on charts and it has support at 265 and  resistnace is at 300