calls 27/12/13

Axis bank ltp 1321 sl 1308 trgt 1344

Buy tata power sl 89 ltp 90 trgt 91/92

Key Trading Strategies for Nifty & Select Nifty Stocks : Part 1.

NIFTY
Going forward, 6300-6310 continues to be a very crucial resistance. If Index fails to cross it, would once again fall upto support zone of 6230.
Crossover & sustenance above the resistance zone of 6310 could lead a fresh upmove upto 6340/6370 zone.

BANK NIFTY :
Going forward, 11400-11420 would be a very crucial resistance & If Index fails to cross it, would once again fall upto support zone of 11150.
Crossover & sustenance above the resistance zone of 11420 could lead a fresh upmove upto 11650/11900 zone.

Reliance CMP 898.
MACD has entered Buy zone. Any dip upto 880 should be bought with SL of 873 for Tgt of 920 zone.

SBI CMP 1759
MACD is in Sell Zone. Till 1775-1780 does not cross, Expect the stock to be rangebound between 1720-1780. Upside upto 1840 above 1780

Tata Steel CMP 418
MACD is in Sell Zone. Till 426 does not cross, Expect the stock to retest its support zone 408. Below 408, Tgt 380.

SSLT CMP 202
Stock could face resistance around 208-210 zone. If does not cross 210, Expect it to retest 192 levels. Above 210, Tgt 230+

LT CMP 1075
MACD is in Sell Zone. Till 1298 does not cross, Expect the stock to retest its support zone 1250. Below 1250, Tgt 1190. Upside upto 1298 above 1360

ITC CMP 319
MACD is in Buy. Till 310 holds, Stock can move up till 329 zone. Below 310, would retest 295 zone.

HUL CMP 565
Till 550 holds, Stock could move upto 600 zone. Below 550, Tgt 510.

Axis Bank CMP 1282
MACD is in Sell Zone. Till 1298 does not cross, Expect the stock to retest its support zone 1250. Below 1250, Tgt 1190. Upside upto 1298 above 1360.

HDFCBANK CMP 657
Stock to be range bound between 648-668.

ICICI Bank CMP 1097
Though MACD is in Sell, Stock is finding support @ 1069 zone. Till 1064 holds, Expect it to move upto 1130 where it will face resistance. Below 1069, Tgt 1015.

PNB CMP 636
Till 616 holds, Stock can move upto 670 zone. Below 616, Tgt 590

Indusind Bank CMP 424.
Though MACD is in Sell, Stock is finding support @ 415 zone. Till 415 holds, Expect it to move upto 450 where it will face resistance. Below 415, Tgt 390.

M&M CMP 963
Stock would face resistancce around 978-982 levels. Till 982 is not crossed, Expect it to retest its support zone of 936. Above 982, Tgt 1020+

Bajaj Auto CMP 1990
Till 1945-1950 holds, Stock could move upto 2030 zone. If crosses 2030 with volumes, 2125 Tgt. Below 1945, Tgt 1850.

HDFC CMP 779.
Though MACD is in Sell, Stock would now find support around 770 zone. Till 770 holds, Expect a pullback upto 810 where it will face resistance. Below 770, Tgt 750.

DLF CMP 171
Stock is in Positive momentum. However can dip upto 165 zone. Dips upto 165 should be bought with SL 162 for Target 179-183. Below 162, can retest 148.

JPASS CMP 53
Though MACD is in Sell, If Support zone 51 holds, Stock could move upto 55-56. However, If Stock breaks 51 levels, expect lower levels of 47-48.

Infosys CMP 3486
Stock could face resistance around 3540 zone. If does not cross 3540, Expect it to retest 3370 levels. Above 3540, Tgt 3650+

TCS CMP 2110
Stock is in a positive zone. However having run up in the last 1 week from 1990 zone to 2120, it would face resistace @ 2139-2142 zone which is the 61.8% retracement of the previous swing high of 2258 & lows of 1990. If 2142 is not crossed, it would once again retest lower levels of 2040 before moving up once again.

Wipro CMP 540
Stock would face resistancce around 550-556 levels. Till 556 is not crossed, Expect it to retest its support zone of 516. Above 556, Tgt 590+

HCL TECH CMP 1237
Though MACD is in Buy, Stock has runup from 1050 to 1250 levels & hence now can take a breather, trade rangebound between 1260-1200. Resistance would be witnessed @ 1260 zone. Failing to cross it, can fall upto 1190-1200 zone.

Lupin CMP 918
Till 904 holds, Stock can move upto 945. Below 904, Tgt 870

Ranbaxy CMP 467
Till 450 holds, Stock could move upto 530 zone. Below 450, Tgt 420.

Tata Power CMP 86
Stock is facing resistancce around 90 levels. Till 90 is not crossed, Expect it to retest its support zone of 79-80. Above 90, Tgt 98+

ACC CMP 1109
Though MACD is in Sell, Stock is finding support @ 1090 zone. Till 1090 holds, Expect it to move upto 1140 where it will face resistance. Below 1090, Tgt 1045.

Grasim CMP 2711
Till 2660-2670 holds, Stock can move upto 2800-2810 zone. Below 2660, Tgt 2540.

BPCL CMP 374
MACD is in Sell Zone. Stock is finding resistance around 352-353 zone crossing & sustaining above, will hit 370. Till 2160 is not crossed, would retest support zone of 2050..

Derivative

Derivative settlement would play major role in truncated Week
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Nifty(6274) Has gained 3% for the settlement while stocks have done much better AUROPHARMA+29%, ORIENTBANK+22% HCLTECH+16% WIPRO+16%, TATAPOWER+16% SSLT+15% and

AXISBANK+14% are stocks which can see good short covering move.

While underperformance can be from ULTRACEMCO -8%, NTPC -8%, TATAMOTORS -6% PETRONET -6% and IOB -6%. Indian Bull Market

From August 2013 lows Index has gained around 15% while many stocks have given 50-100% returns while most of these stocks have corrected from November 2010 almost 33-34months before recovery Mostly from Metals, Capital goods, PSU, PSUBANK, Power and Infrastructure. TATASTEEL, SAIL, VOLTAS, JSWSTEEL, TVSMOTORS ADANIENT, AUROPHARMA, L&T, SIEMENS, BHEL to name few well know names and it doesn’t matter if Nifty is  7000 or 5500 which is hardly 10% move either side.

Buy good quality stocks like M&M, MARUTI, INFY, L&T, SIEMENS, BHEL, WIPRO, ICICIBANK, GRASIM, TATASTEEL, HINDALCO, CADILA and still in next 12-15month can give good safe returns in my view in year 2014, there will always be bad news or correction when one can enter these stocks.
Chart of the day--- ORIENTBANK Cmp Rs.220 Stop Rs.208 Target Rs.246 & 257 Market cap-Rs.6421crs Trailing EPS-Rs.42 Book Value-423 NIM-2.87% while Dividend yield 4.07% Branches 2059.

In my view Indian Bull market started in August 2013 where Nifty has gained 14% while ORIENTBANK has gained 73% and this Quarter alone 52% till now and this settlement 22% and if Rs.208 is held then short squeeze would support the stock and technically also stock looks very good to target Rs.246 & 257. Stock has been holding above 200DMA Rs.202 in last 11 trading days and crossing recent high Rs.237 could move the stock faster.

Updates for new expiry

24-Dec:
*Top OI Gainers:
CENT(+21.5%, +13%), JUBI(+16%, -0.6%), APTY(+16%, +8%), IFCI(+15.7%, +2.8%), GNP(+15%, +2.7%), APNT(+11.6%, +0.1%), CLGT(+10%, -0.8%)

*Top OI Losers:
ALBK(-24%, +0.4%), HPCL(-21.8%, +2.5%), ICEM(-21.5%, +1.3%), SNDB(-18.2%, +0.1%), HDIL(-17.9%, +0.1%), UNBK(-17.8%, +0.4%), IIB(-17.3%, -1.7%)

*Nifty Fut OI +9.9lk shs(+3.6%); Prem 13 vs 18 *BkNifty OI +0.50lk shs(+2.6%)
*IndiaVix: 15.58(-4.2%); ATM IVs @ 14.8% vs 15.4% *Nifty Dec Opt OI Chg: in lks
6100PE:-3.72
6200PE:+1.96
6300PE:-4.73
6200CE:-4.41
6300CE:+9.84
6400CE:-3.20
*Highest OI 6200PE:69.15 & 6300CE:69.93.

Merry Christmas

May love fill every moment
as your family gathers near,
Beneath the glittering branches
of your Christmas tree this year.
And may those special wishes
that are meant for all of you,
Remind you that you're close to heart
and loved the whole year through.
Wishes with love for all of you.
Merry Christmas! .. To All Family & Friends....