iCharts Discussions

[rameshraja]

Today is a fantastic opportunity thrown to traders to long in market when everything around us were gloomy right from negative Global market cues to our Central bank action of Interest rate hike. Nifty futures gap down in
the morning and hit the low of 4375.05 and moved to 4536.80 rising more than 160 points from the day's low.

In every trader's mind, now the moot question is, Has the Nifty bottomed out ? To my sense I will say emphatically, NO. Nifty is only trying to pullback as many stocks are trading around 15% below 50 SMA value and it is quite natural for the price to get adjusted to the meaningful gap between price and 50 SMA value.

Nifty on Friday ( 13.06.2008) will move to the region of 4595 and face severe selling pressure and may come down to the level of 4475 due to many of indicators are still in sell mode. Due to this, Nifty will find it difficult to have the highest close for the day.

Nifty Range for tomorrow is 4595 - 4475.

In individual stocks, I have a few for swing trades.

LONG:

Axis Bank / Essar Oil / India Infoline / REL INFRA / RNRL / Tata Steel with SLs on closing basis at 686 / 233 / 597 / 1005 / 87 / 829 respectively.

Entry point for the above should be around 712 / 240 / 622 / 1035 / 91 / 856.

SHORT:

Airtel / ICICI / R COM / SBI / Sterlite / Tata communication with Sls on closing basis at 857 / 767 / 567 / 1382 / 860 / 477.

Entry point for the above should be 830 / 745 / 545 / 1350 / 830 / 457.


Disclaimer: Technical Analysis is subjective and reading of charts will differ from each individual. Therefore, you do analysis at your end and take independent decision for your real time trade than fully relying on my opinion.

Best Wishes


C T RAMESH RAJA

[hdobhal]

Dear Ramesh Sir,

First Thanks for the post. Fantastic analysis today morning.

For tom, I feel similar way. My view is in most extreme case, the upswing can only (not tom) move up to 4700 as per my chart

Thanks
Harish

[rameshraja]

Dear Mr Harish

For Nifty futures to gain momentum on upside, it should close above 4592 else it will face selling pressure to close below 4520.

As long as it doesn't close below 4400, Nifty futures will move to 4780.


Regards


C T RAMESH RAJA

[Arul Zen]

sir
as usual your prediction won yesterday.when whole world in the short side you alone gave us the actual mood of the market. thank you sir

arul kumar

[rameshraja]

Mr Arul Kumar


Thanks.


Regards


C T R

[kiran.jain]

hello RR sir

Thnks 4 ur view....

regards
kiran jain

[ramtrade]

RR sir,

So accurate predictions sir......!!!

-Ramesh

[arssiva]

RR Sir,

First let me thank you for your accurate market analysis for 12 and 13 of june. i have one question for you sir.
Where we are heading, where we will be on june expiry?

Thanks & Regards
Sivakumar

[jatinhs]

Dear Sir,
Can you please give me information on how to use these levels for intraday trading.

Regards,

Jatin