Nifty takes support as expected - Recovery after "Double Bottom" in hourly Charts
What the Charts Foretell
(FOR Short Term Investors)
* NIFTY/ SENSEX !
Nifty - Bounce back from Support - Likely to Test Resistance of 5065 and 5100
Be Scrip specific - Many Stocks highly oversold & ripe for Technical Rally
* R P L !
Bearish Targets of 175 achieved - Ripe for further recovery to 190-192 in couple of sessions
* CAIRN INDIA !
Bullish But enters Overbought zones - Minor decline to 290-291 likely before next upmove
* I B SEC. !
Extreme Short Term indicatots in favour of rise to 119- Buy Gradually on declines with SL
* RELIANCE CAPITAL !
Continues to be Highly Oversold in EST - Recovery Targets of 1400+ Maintained
* POLARIS !
Strong resistance @ 115/ Bullish Crossover with Volumes to target 130+ in Few days
* RELIANCE IND. !
Bullish Pattern in making in Hourly Chars - Another Close above 2550 will Target 2620+
* R COMM. !
Minor Resistance at 555 - Bullish Crossover will Target 570+ in couple of Sessions
* BHARTI AIRTEL !
Short Term Bullish Target of 855 achieved - 2 Close above 855 may target 910+ in Near future
* W I P R O !
On Verge of Bullish Breakout - Close above 510 will Target 530+ in couple of sessions
* SITASHREE !
Bullish Target of 52.5-53Maintained - Use Declines for Fresh Buying with SL
* BANK OF BARODA !
Oversold after decline to 329 to 291 / Ripe for Technical recovery to 302 and 309 in coming Days
(From KTP120508)
* B H E L !
Extreme Short Term Indicators in favour of Technical Recovery to 1800/ Part Profit Booking advised on Pullback
(From KTP120508)
* HIND CONST. !
Bearish BUT Oversold - Ripe for Technical Recovery to 135+
(From KTP120508)
* AXIS BANK !
Bearish But Highly Oversold - Use Declines for Fresh Buying with SL for Target of 900+
(From KTP120508)
* RANBAXY LTD. !
Bullish Breakout but resistance at 501 - Bullish Crossover with Volumes to target 520+
* RELIANCE ENERGY !
Oversold in Extreme Short Term Charts - Use declines to Buy gradually for Target of 1400+
* BOMBAY DYEING !
Mildly Bullish in EST - Buy on Pullback for Target of 855+
* HINDALCO !
Bearish BUT Oversold in Extreme Short Term - Charts favour Technical recovery to 185+
(From KTP120508)
* INDIABULLS FIN !
Short Term support at 450 - Buy Gradually on declines for Target of 498-500 in Near Future
(From KTP120508)
* LANCO INFRA !
Short Term Indicatorts favour rise to 490 in Near Term - Buy on declines @ support with SL
* LARSEN & TOUBRO !
Sharp decline from 3250 to 2750 in last few Days - Technical rally to 2950 on Charts
* HPCL/ BPCL !
Both Stock Highly Oversold and ready for Tech recovery to 244/ 373 respectively
Recommendations for 13.05.2008Opening Price is considered around close of previous day. Avoid BUYING if Prices open abnormally High and Avoid SELLING if prices open too low.
1). L&T. : Buy 400 Shares (200 at opening + 4x50 at Fall of every Rs10/- ) in ' Investment A/C' . Target 2950. Avg SL Rs30/-.
2). Hindalco (Or Fut) : Buy 1500 Shares (700 at opening + 4x200 at Fall of every Rs1/- ) in ' Investment A/C' . Target 188. Avg SL Rs5/-.
3). RPL (Or Fut) : Buy 1500 Shares (700 at opening + 4x200 at Fall of every Rs1/- ) in ' Investment A/C' . Target 191. Avg SL Rs5/-.
----- With due apologies and full credits to Kalpataru
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