iCharts Discussions

[tangotaurian]

Dear RR sir,

Good to see your compass on market. I am sure there are so many waiting for your view.

Sir, please continue it.

Best wishes,
Tushar Thete
Pune.

[vinst]

RR Sir,

Very eagerly awaited Market Compass is back ? !!

regards,
vin

[rameshraja]

Market Compass for 09.01.2009


Market was overbought for the last few days and in real time chart, Nifty was movingup when MACD Historgram was in Divergence. And Satyam fiasco came as an excuse for market to finally crack.

Nifty Futures Range for the Day: 2840 - 2990

Support for Nf should come around 2840 level. In the event of NF breaking 2818 it could fall to 2775 - 2745 - 2720 and SL should be 2876.

Best Wishes

C T RAMESH RAJA

[rameshraja]

Market Compass for 12.01.2009

Nifty Future Resistance is between 2875 - 2885

Nifty Future support is between 2770 - 2745


Below are Breakout and Break Down levels:


Breakout for NF is 2900 with SL at 2886. Breakout TGT 2990 - 3025.

After takingout 2900 if SL of 2886 is hit, then downside TGTs 2857 - 2832.

Break Down for NF is 2831 with SL at 2845 for downside TGT 2745 - 2710

After breaching 2831 if SL of 2845 is takenout, then TGTs are 2873 - 2895.

Individual Stocks:

L & T Resistance is at 720 to 730 and support at 675 - 650

Reliance Resistance is at 1165 and support at 1065

SBI Resistance between 1230 to 1240 and support at 1170 - 1135


I am attaching herewith a few interesting charts of Nifty spot / Kotak Bank and Rel Infra.


Best wishes


C T RAMESH RAJA

[rameshraja]

Market Compass for 13.01.2009


Nifty Future Range : 2755 - 2645


Breakout and Break Down as follows:


Breakout is at 2762 and its SL is 2748. TGT for Breakout is 2819.

Incase after crossing 2762 if it takesout SL then TGT for downside 2700

Break Down for NF : 2695 with SL at 2708. TGT on Downside 2680 - 2660 - 2645

Incase if SL of breakdown is takenout, then TGT will be 2735 - 2755


Individual Stocks:

Axis Bank Resistance at 461 and Support at 430 - 425

ICICI Bank Resistance 440 to 445 and support between 396 - 390

Reliance Capital Resistance between 450 - 455 and Support at 425 - 405

Reliance Infra Resistance at 485 and support at 430

Tata Steel Resistance at 202 and Support at 170


Best Wishes


C T RAMESH RAJA

[rameshraja]

Market Compass for 14.01.2009


NF range for today : 2780 - 2705


NIfty Future may cross CAM R4 and trigger the SL at R3.


Maximum upside for the day incase of sustained upmove is 2855

After crossing 2746, if NF breaks yesterday's low of 2697, then it can fall to 2645 - 2635.


Best Wishes

C T RAMESH RAJA

[rohit]

Rameshraja SIR,
IF one consider from elliot wave point of view Is right now NIFTY trading in C5-2 position of the 2 wave of zigzag after breaking coil triangle downward?.hope an answer from you sir.

rami goyal

[rameshraja]

Mr Rohit

I don't follow Elliot wave and therefore no idea about this.


C T R

[rameshraja]

Market Compass for 19.01.2009


Resistance - 2850 - 2875

Support - 2780

Threat for upmove, if it breaches 2770 and followed by 2730


Stock Future:

Axis Bank : Resistance - 475 Support - 440

Bharti Airtel : Resistance - 657 - Support 620

HDFC Bank: Resistance - 970 Support - 930

ICICI Bank : Resistance - 445 Support - 413. Break Down - 406

PNB : Resistance - 475 Support - 450

SBI : Resistance - 1210 Support - 1155


I am attaching herewith Nifty spot and Reliance Chart. RIL has broken the channel on downside and closed below that for two consequetive days, and on last Friday again it has comeback into channel.


Best Wishes


C T RAMESH RAJA

[rohit]

RR sir,

thanks for answering.

rami

[rameshraja]

Market Compass for 20.01.2009

NF range for the day : 2825 - 2745

NF breaking 2770, is the first sign of weakness and break down is below 2749. The momentum for downside will be accelerated once it breaks 2730, and it should fall to 2700 - 2645.


Technically, it is not suppose to break 2690 this week and if it does it, the fall could be very sharper and NF may plunge to 2485 and 2400. If 2690 is takenout, it may not even hold the strong support which is placed at 2610.


Banking the sector as a whole is looking weak and this may drag down the market. Yesterday, SBI made a key Negative reversal and looks very vulnerable for a fall to 1045, unless yesterday's high is takenout.

Grasim (Future) Breaking yesterday's low of 1225 could bounce to 1245 and stock can fall to 1125 in the next few days. SL should be 1280 on closing basis.


Take care


Best wishes

C T RAMESH RAJA

[rameshraja]

Market Compass for 21.01.2009

Nifty Future Range for the day : 2800 - 2700

As mentioned yesterday in Compass, 2690 is going to be a crucial level and if it breaks then it should fall to 2645. Breaching 2690, NF becomes fragile and has series of support levels of 2640 - 2620 - 2610. All these support level are very important and if 2640 is takenout, one has to maintain the SL of 2665. NF closing below 2610 it should fall to 2445 - 2240.

Today, heavy weight Index stocks like HDFC and BHEL are to announce their quarterly results and this may not contribute to Index support and Reliance and Banking stocks are looking weak for today's trade.


Swing short:

Short HDFC Bank above 910 with SL at 940 on closing basis and TGT should be 800.

Short Reliance Industries above 1190 with SL being at 1223 on closing basis ( couple of rupees above yesterday's high as SL ) for TGT of 1070

Stock to be on radar:

SBI closing below 1100 will become extremely weak and in such a case, one has to maintain 1140 as SL on closing basis and TGT should be 995.


The above are my views from technical study of price movement and when you take real time trades for the above, please do your own analysis and then act. Technical view is subjective and the opinions may vary from each one.

Take care

Best Wishes

C T RAMESH RAJA

[rameshraja]

Market Compass for 22.01.2009


NF Range for the day : 2725 - 2650

Today NF is crucially placed as it has takenout Weekly support level of 2690. If bulls have to dominate the market, then they should not allow 2610 to be conquered by bears on closing basis.

For Intraday, NF will bounce to around 2725 which is the first 5 minutes low of yesterday's opening trade and resist there. Any move beyond 2733 is the first threat to bears and if it crosses yesterday's high by couple of points say 2774, bears will surrender to Bulls.

On Downside, if NF breaks 2640, then market will become extremely fragile and bears will try to dominate the frontline Index stocks. In the event of breach of 2640, one has to maintain the SL of 2665 and TGT could be as low as 2445 in the next few days.

Reliance Industries quarterly result will determine the trend of market.

Swing Trade:

ICICI Bank is a short around 375 with SL at 390 on closing basis. TGT 305

Kotak Bank is a short around 295 with SL at 313 on closing basis. TGT 238- 233

Sterlite Industries is a short around 250 with SL at 264 on closing basis. TGT 195 - 178 - 165

Followup of earlier swing call:

Grasim had hit the TGT of 1125. Stock fell as expected with a risk of Rs.20.

HDFC Bank still to give entry point above 910 for short.

Reliance Industries gave perfect entry to short yesterday and fell to 1108 and is yet to reach the TGT level of around 1070

SBI has openedup fresh short and we have to wait and see.

Risky Trade:

I would like to bottom fish in Acc and Grasim on long side with SL at 455 and 1105 on closing basis.


Best Wishes


C T RAMESH RAJA

[rameshraja]

Market Compass for 23.01.2009

Nifty Future Range for the day: 2710 - 2645.

I am giving below two likely scenarios for NF:

1. Nifty Future breaking 2671.50 , SL should be 2712. The first support below 2671 is 2650 and followed by 2640 - 2620 - 2610. If 2640 is takenout, SL to be trailed at 2665.

2. If NF doesn't break 2671.50 and if it crosses 2725 in the morning, then Bears need to be extremely careful and bulls will try to take upperhand and they could charge the market on upside to around 2820. If crosses 2725, maintain the SL at yesterday's closing of 2691.

Today, Reliance Industries will determine the trend of market as quarterly results announced were not as bad as market was expecting, and this could lead to lot of wobbling in its price movement. RIL first ever drop of sales in the last six years and first time the decline in net profit in last three years, is anyone's guess how market will react to this result. But surely, the company has done well in the context of challenging global economic environment.

In the context of trading perspective, one can take risk and buy RIL around 1070 with SL at 1050 on closing basis.


Followup of Swing Call:

HDFC Bank gave entry at 910 and it fell rapidly in less than an hour to 870 giving a neat profit of 40 rupees even in intraday.

Also both ICICI Bank and Kotak Bank gave a nice entry at short level.

The risky call of Acc and Grasim gave good gains yesterday.

Risky call for today:

Reliance capital has closed yesterday at 391. With SL at 388 on closing basis, its a risky buy.

LITL is a risky buy with SL at Fibonacci pivot of 97 on closing basis.


Take care

Best wishes

C T RAMESH RAJA

[rameshraja]

Market Compass for 27.01.2009

Nifty Future Range for the day : 2688 - 2585

I present below two scenarios:

( A )

Long above 2700 with SL at 2670. TGT could be 2780 - 2804 - 2835. If crosses 2712, trail the SL at 2698.

( B )

Short around 2688 with SL at 2700. TGT I will be 2658. Breakdown 2647. If 2647 is takenout, maintain the SL at 2688 and TGT will be 2596 - 2546.


Swing Trade:

Short Axis Bank around 388 with SL 408 on closing basis. TGT 339 - 321.


Followup of Swing calls:

All swing calls given in the earlier postings continue to hold good till it achieves their respective TGTs, albeit it has given a very good profit in the last two days to cover the short.

Risky call: Last Friday's risky call of Reliance capital has ended in loss of around 10 rupees.

Litl didn't give much of movement and forced to exit towards the close only to cost.

Take care

Best Wishes

C T RAMESH RAJA