iCharts Discussions

[eagleseyes]

Thanks a lot RR Sir

[rameshraja]

Market Compass for 28.01.2009

Nifty Future Range for the day : 2745 - 2845

Today is going to be a difficult day for intraday traders. It could be "Broker's Day ". Market could takeout all logical and absolute values of Stop and frustrate everyone and create lot of whipsaws.

Though I am not confident of NF likely move today, still making an attempt to give below the levels.

NF can be bought around 2745 with SL at 2730. TGT could be 2795 - 2806 -2824 - 2845. If crosses 2806, trail the SL to 2792.

Followup of Swing Call:

Sterlite Industries has takenout SL on closing basis, still not comfortable with upmove after its disaster result. From the short level, though it gave 14 rupees profit but failed to achieve the logical TGT of around 200.

It is observed, that metal stocks and commodites tend to moveup one week in advance to Fed Meet and after the event is over, it tanks. This time also it has done that and there is no reason for sterlite to moveup after dismal performance in the last quarter.


Best Wishes

Take care

C T RAMESH RAJA

[eagleseyes]

thanks a lot sir for writing...

[tangotaurian]

thnx a lot for ur views sir

[vinst]

Sir,

You guidance is very valuable, everyday.

regards,
vin

[rameshraja]

Market Compass for 29.01.2009

Nifty Futures range for the day : 2880 - 2745

Resistance for NF is 2873. Breakout is 2881. If breaks 2881, SL is 2867. Maximum upside could be 2920. If SL is takenout after breakout, then downside levels are 2838 - 2820 - 2778 - 2745.

Followup of swing call:

Axis and ICICI have failed to achieve the TGT and hit the SL. Both long and short swing trades doesn't achieve the logical target due to Nifty moving in a narrow range of 200 points.

I think until a clear breakout / breakdown happens for Nifty, it is better to concentrate in Nifty trade than in individual stocks. Many of the chart patterns also keep failing in individual stocks.

Today trade with caution and due to settlement of the current F & O series, market could move be volatile.


Best Wishes


C T RAMESH RAJA

[rksharma1091]

Thank you Sir,

I wanted to know while doing intraday how to set the chart for optimum use.

regards

[rameshraja]

Market Compass for 02.02.2009


Nifty Future Range for the day : 2840 - 2955


Buy Nifty Future around 2840 with SL at 2816 for TGT of 2955. When NF moves to 2898 trail the SL to 2883.

If 2816 is breached, short with SL with Friday's high of 2876 for downside TGT of 2715 - 2705 - 2685 - 2665.


Banking is likely to outperform on Monday and therefore closely monitor SBI.


Best Wishes


C T RAMESH RAJA

[rameshraja]

Hi guys

NF has broken 2816 and now the trailing SL is 2845.


C T R

[rameshraja]

I am changing the Trailing SL to 2825, which is just 5 points above Friday's breakout level of 2820.

Maintain 2825 as SL for the day ( which is just 9 points above short level of 2816) and ride the trend.

Nifty Future has takenout 2816 in the first few seconds of market open itself
at 9.55.22 AM. Please check the one minute chart.


C T R

[rameshraja]

The Risk averse Traders can move the trailing SL of Nifty Future now to 2793 which is last 30 minutes Bar high and ride the trend.

For high risk people, you can maintain the same SL of 2825.

Guys, I will not be updating henceforth on trailing SL of NF, as I have to concentrate on my trades and in chat room.


C T R

[rameshraja]

Market Compass for 03.02.2009

Nifty Future range for the day : 2775 - 2705

In the event of NF testing Friday's low of 2766, it is not supposed to break

2747. If breaks 2747 after testing Friday's low, then it could fall to 2705 and

2695.


Best Wishes


C T RAMESH RAJA

[rameshraja]

Market Compass for 05.02.2009


Nifty Future Range for the day : 2808 - 2740

Today, we may see a meaningful trading opportunity happening only if it breaks either 2836 or 2728.

As this market does a sudden reversal for the last few days, we need to have tight SL. In the event of breaking 2765, one can maintain SL of 2780.


Best Wishes

C T RAMESH RAJA

[rameshraja]

Market Compass for 06.02.2009


Nifty Future range for the day: 2820 - 2730

NF is a long above yesterday's close with SL at 2751 for TGT of 2820. If SL of 2751 is takenout, then downside TGTS are 2730 - 2685.

If this week high of 2835 is takenout, it will pullback to 2800 and SL will be yesterday's last 30 minutes bar high of 2776 and TGT would be 2890 -2925.

In Individual stocks:

ONGC on crossing 670, buy when it retraces to 663 with SL at 652.90. TGT 695 - 699

Bharti Airtel on crossing 640, buy on retracement at 634 with SL at 624. TGT 668 - 673

Best Wishes

C T RAMESH RAJA

[rameshraja]

Market Compass for 09.02.2009


Nifty Future Range for the day : 2878 - 2802

Breakout 2897 and SL is 2855. TGT for Breakout is 2930.

Please note, there is no risk to reward if we enter at breakout level. And therefore, not a wise decision to enter above Breakout level.

Tomorrow, I would prefer to short the market at higher levels than going long. The level to short we have to decide only by looking at real time chart. Probably market can give us opportunity either around 2880 or at 2920 level. We have to look for Reversal bar around those areas.

As most of the frontline stocks like BHEL / HDFC /SBI / Tisco are in weak zone and are very difficult to give support to Index. Bharti Airtel and Reliance are close to long swing TGT level of 670 - 1355 respectively. I am not quite sure about these two stocks outperforming on a gapup day.

Best Wishes

Trade with care.

C T RAMESH RAJA