Market Outlook 13 April 2010 and Calls

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Nifty (5339.70)
Nifty daily chart has formed “Small Black Candle” which clearly predicts uncertainty in market. Daily momentum indicators are also showing uncertainty in market with slightly favor to bear at this point of time. Nifty has strong resistance zone in between 5380 to 5400 crossing which we may see some favor to bull, although major bull entry possible only above 5445 level. strong support placed at 5290 level on closing basis , as long as this level sustain, there will be no sign of bear attack. Over trader should remain cautious and should wait for major breakout/down in market.

Noida Toll Bridge (34.45)
After making high of 42 levels in mid January, stock was in down trend and finally last week stock has made double bottom at 32.25 levels. Double bottom suggests strong support. Yesterday stock has formed “Long White Candle” a bullish candlestick pattern with relatively strong volume breakout on daily chart. 3 days EMA has given positive crossover to 8 days EMA more over stock closed above 20 days EMA. Looking at all above technical parameters traders with moderate risk appetite can consider Buy above Rs.34.65 with tight Stop loss of Rs.32.25 (closing basis) with target of Rs.37.75.

Balrampur Chini (93.55)
After making high of 145 levels in mid January, stock was in down trend and finally found strong support in the range of 87.70 to 88.10. Yesterday stock has formed “White Opening Marubozu” a bullish candlestick pattern with strong volume breakout on daily chart. Daily momentum indictors like RSI Stochastic and MACDh have given strong buy signal. 3 days EMA has given positive crossover to 8 days EMA. Looking at all above technical parameters traders with moderate risk appetite can consider Buy above Rs.94 with tight Stop loss of Rs.91.25 (closing basis) with target of Rs.100.

1 comments:

VENGAIMARBHAN said...

DEAR SIR,

YOUR VIEWS ARE REALY SUPER.

ON 13th CORRECTLY WE HAVE A HIGH OF 5338 IN NIFTY FUTURE. AND BALARMPUR CHINI ALSO GONE UP TO 97.25 AND I THOUGHT ON 15th IT REACHED 100. LAST CALL OF VOLTAS ALSO SUPERBLY GONE IN TWO DAYS 10 RUPEES.

VERY NICE RECOMMANDATIONS.

I GIVE YOU THREE WISHES OF MINE TO YOU,

1) NOT ONLY RECOMDING FOR DAYTRADING GIVE SOME SHORT TERM ALSO.

2) GIVE SOME SHORT ESSAYS ABOUT TRADING,SHAREMARKET, MONEY MAKING,

3) GIVE DAILY RUGULAR CALLS, DON'T STOP SOME DAYS, ( YOU ARE BUSY SO YOU ARE NOT MAKING DAILY I KNOW BUT GIVE SOME TIME TO THIS.

THANK YOU,

NICE SUPPORTER OF YOURS,
DAY TRADING PRINCE

2)

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