iCharts Discussions

[rameshraja]

I will be henceforth giving my opinion about market, in a single thread under Market compass instead of opening new one on daily basis.


COMPASS FOR 29.08.2008


Nifty Futures Range : 4275 - 4170.

NF will find it difficult to cross yesterday's high of 4300.


Range for Individual Stocks:

1. Reliance : 2125 - 2046

2.State Bank of India : 1338 - 1280

3. Reliance Capital: 1305 - 1230


Best Wishes

C T RAMESH RAJA

[cypandya]

gr8 analysis sir!!!

[rameshraja]

MARKET COMPASS FOR 01.09.2008


Last Friday market opened with a huge gapup due to sobering of Inflation figures coupled with strong global cues. Market opened above the upper range level which I have mentioned for Nifty futures and Individual stocks and never retraced to those levels till the closing bell.

Monday ( 01.09.2008) market will go up after initial hiccup due to the decision of Reliance Industries which has scraped the KG Basin stake transfer deal and this will act as flip for the bulls to take the market on upside. Banking stocks were on a rollar coaster ride on Friday due to taming of Inflation numbers and this sector will also join the BULL Wagon.

Nifty Futures Range for Monday (01.09.2008): 4305 - 4445

Breakout for NF : 4338 and SL will be 4318. TGT I 4405 and TGT II 4445

Support for NF : 4305 and then at 4260.

Break Down for NF : 4249 and SL for this 4273. TGT I 4180 - 4145

In Individual stocks following are Ranges:

RIL : 2140 - 2240

Breakout for RIL : 2165 and SL will be 2151. TGT I 2210 and TGT II is 2240

Break Down for RIL : 2104 and SL will be 2121 and TGT I 2059 and TGT II 2035


State Bank of India : 1357 - 1445


Reliance capital : 1335 - 1410


Best Wishes


C T RAMESH RAJA

[eagleseyes]

thanks a lot RR sir for sharing ur ideas ... as usual...

[nitinak]

RR Sir,

Its really great analysis. You have mentioned NF low at 4305 and it made 4302.30. Great Sir.

Warm Regards,
Nitin Kaklotar
Surat.

[rameshraja]

Market Compass for 02.09.2008


Nifty Futures Range : 4425 - 4318

Pivot for NF : 4358: Support at 4320 and next strong support at 4280

Resistance for NF : 4425 - 4450 - 4470

If NF trades above pivot of 4358 then SL will be 4340.


Trading Range for Individual Stocks:

Reliance : 2203 - 2140

Pivot for Reliance : 2162:

Trading above 2162 then SL will be 2147

Reliance capital : 1430 - 1345

Pivot for Capital : 1369

Trading above Pivot SL will be 1356

State Bank of India : 1470 - 1402

Pivot for SBI : 1410

Trading above Pivot SL will be 1396


Advice: Buy at Pivot level to have closer SL


Best Wishes


C T RAMESH RAJA

[sivanamakkal]

dear RR sir, i am in this trading line for nearly 5 years.in my first year i lost all my saving money(lot).after that i realised there is something more to learn.i reduced my trading quantity and searched for books and rules.after 3 years i came to know the word charts(how fun).by chance i got the link icharts.in and became member.thereafter also i had gains and losses.but i was there without giving cheque.i read all ur comments nd SB archives.i take one hour daily to read SB and FORUM.i am eagar to join your service.but my small trading quantity preventing me to join.now i earn nearly half of my lost money.this is becz of you and icharts.i wonder about your unselfish work here.some more persons like jimmie,harish,vivek,mgo.....doing great.i am so lucky to be here with you.
RR sir one requst from me(if u can).i read from SB about shorting by cam levels.but not know how to trade in the buying side.when u have time u please explain here how to trade cam levels sir.i made some handful money from cam.i want to use it fully.so do ur best sir.once again thank u for ur unselfish work sir.

[rameshraja]

COMPASS FOR 04.09.2008


Nifty Futures Range for the day: 4440 - 4575


Nifty Futures Pivot: 4455 and Support I will be 4438 (4438 is Just two points below Day's lower range as filter) and Strong support II is at 4418.

Resistance for the day : 4575 and if it trades above this level for more than 15 minutes then 4602.

In Individual Stocks following is the Range:

RELIANCE : 2180 - 2280

Pivot : 2210 and SL will be 2197 and support will be 2180.


RELIANCE CAPITAL: 1395 - 1485

Pivot: 1415 and SL will be 1406 and support will be 1395


STATE BANK OF INDIA: 1560 - 1435

Pivot: 1478 and SL will be 1468

Bombay Dyeing / Century textiles / LIC Housing should do well on long side if market sentiment is good.


Please note, I am not interested in shorting this market if pivot SL is takenout, rather I would like to long at pivot level after breaching SL.

CAUTION : Don't short the market at lower levels as the trend of the market is on upside.

Market Wisdom: Don't chase the market !!! Allow the market to come into your hands.

Best Wishes


C T RAMESH RAJA

[cypandya]

Yes sir!!
u r very right..
if someone is not comfortable in LONG then dont have to try shorts in this market bcz market is eating everyone

[eagleseyes]

Thanks a lot RR Sir...

RR sir , i think the levels are cash levels , am i correct

[rameshraja]

Dear Eagles

CAM Levels are for futures and not for cash.


C T R

[rameshraja]

COMPASS FOR 05.09.2008

Global cues are very bad and yesterday US market has crashed.

Looking at Individual stocks many frontline stocks have generated buy in weekly charts. Probalitity being after initial gap down, market could recover fast, but I am not quite sure of this for a simple reason, Reliance continues to underperform and poses threat for the upmove.

Consciously I am giving below stocks which could trigger a short breaking the support level and SLs to be strictly adhered if a trader wants to short.

In the event of SL being takenout for any of the stock or Nifty after breaking support level, I am sure the trend will change for better.

Nifty Futures Range for the day : 4270 - 4440

NF breaking 4405 should fall to 4350 - 4270

Trend reversal on breaking 4405 is 4482.

Individual stocks:

Axis Bank breaking 720 can bounce to 739 and SL will be 750. TGT 692 - 681 - 665

ICICI breaking 680 can bounce to 695 and SL will be 708 and TGT will be 653 - 640 - 627.

Reliance breaking 2142 can bounce to 2169 and SL will be 2192 . TGT on downside is 2095 - 2050

Reliance capital breaking 1364 can retrace to 1384 and SL will be 1407 and downside TGT should be 1329 - 1310 - 1288

State Bank of India breaking 1474 can bounce to 1501 and SL will be 1515 and TGT will be 1435 - 1418 - 1398

REL Infra breaking 990 can bounce to 1012 and SL will be 1026. Downside TGT will be 958 - 941 - 928


Best wishes


C T RAMESH RAJA


CAUTION: As the broader trend of the market has inherent strength, exercise utmost care while shorting and maintain strict SL.

Market Wisdom : A successful trader always keeps learning

[eagleseyes]

Hello RR Sir..GM....

Thanks a lot once again for the levels given and al;so for the cam sheet

[rameshraja]

COMPASS FOR 08.09.2008


Market is expected to open positively due to lifting of nuclear trade embargo on our country after 3 decades of isolation and paved the way to resume nuclear commerce to have energy security. This will have positive impact on market albeit temporarily.

Any news / event which has gestation to make an impact on fundamentals of economy / corporate bottomlines, market temporarily moveup with frenzied momentum and finally erase all the gains it made and rolls back to previous levels. And this event is no exception according to me. Moving on to Technicals .........................., there is a dichotomy between Nifty spot and Futures in weekly charts. Nifty spot made Negative reversal whereas Nifty Futures made a positive close giving indication for further upmove. Its a close call and very difficult to prognosticate the trend of market.

Nifty Futures Range for 08.09.2008: 4450 - 4330

In the event of crossing 4460 it could pullback to 4420 and SL will be 4389 and it could move to 4530 and 4585. The threshold point for NF for the day will be 4406.

In individual stocks, all utilities stocks may propel the euphoric buying particularly Power stocks and added with that is oil marketing companies and a few other stocks like Aban , Bombay Dyeing and century Textiles.

Reliance Range: 2165 - 2055.

If should face stiff resistance around 2165 and in case of breach of upper range then following will apply:

If RIL crossing 2180 then it could retrace to 2145 and SL will be 2130 and TGT 2230 - 2265

State Bank of India: 1500 - 1630

SBI crossing 1560 could retrace to 1535 and SL will be 1517. TGT 1600 – 1630


Reliance Capital: 1310 - 1380

REL INFRA: 1010 - 1115

REL crossing 1045 might retrace to 1023 and SL will be 1008 and TGTs are 1080 - 1115

Suzlon: 220 - 271

SL for Suzlon is 217 and it should reach the upper TGT.


For Swing Trade:

I am looking at Aban for buying with SL at last week's low of 2061 for TGTs of 2590 - 2775.


Caution: Traders have to be very careful, to trade long on gap opening and euphoric Buying.

Market Wisdom: Stay cool and never let your emotions rule your trading.


Best Wishes


C T RAMESH RAJA

[hdobhal]

Thanks Sir,

I agree that N-Dela may cause a gap-open.
Your levels are something we must always keep a keen eye upon...

Harish