iCharts Discussions

[apka]

sbin is forming pos divergence.

[psalm]

[skd2012]

I guess we will remain range bound. SBI result tomorrow. Which way will it go?

[apka]

[Vikas91]

8:00pm EUR ECB President Draghi Speaks (High Impact) 10:00pm USD FOMC Member George Speaks (Medium Impact)

[psalm]

Asian markets which are not on holidays have begun today's session on a good note and consolidated the gains after President Obama's State of the Union address a while back. The U.S markets have broken above the recent highs and closed above 14000 again. That means DOW is now just a percent or so away from its all time highs. While Russel 2000 index has made a new all time high yesterday which shows that the liquidity is still there in the system. Otherwise, the smallcaps (Russel 2000) wouldn't have done well. But for how long will this last?? I have no idea. To be frank, I don't think this will last long. But let's exploit this upmove until it lasts. By the way, Europe is still struggling to go up. May be it will show some upmove today. But I'm not that hopeful of Europe for any huge upmove at this point of time.

Talking about our markets, the main focus (for speculations and gossips) in the next few weeks could well be the Budget. In that scenario, global cues could take a backseat. Another 100 or 150 points from here doesn't look that difficult, at this point of time. That means just 3 or 4%. But the attraction is not the index, its in the individual stock space. If the market goes up by another 3 or 4% you'll see many stocks going up by 10 or 15%. So, there lies the opportunity. I was talking about buying PSU banks yesterday. I still feel that they're attractive. But yes, the SBI result could be some kinda trigger. So, watch out for SBI result. I have selected a few stocks which are looking good for an upmove. You'll find that its a very long list. But one shouldn't get Euphoric, I feel. Cos, we're not out of danger yet. I see lot of good opportunities to make some money on the LONG side. At the same time, we should be cautious and should be aware of the pitfalls. Posting the list of stocks below:

BHEL
Canbk
Colpal
Denabank
Finantech
GSPL
HDIL
IDBI
IOB
JSWenergy
LICHsgfin
Orientbank
Pantaloonr
PTC
Ranbaxy
Ster
Syndibank
Ucobank
Vijayabank

A few other trading ideas:

Bataindia
Bharatforge
Century tex
Cipla
Hindzinc
NMDC

JP Power could do well if it starts trading above 32 or 33.
If 394 is not taken out, BPCL could be bought
A close above 148 could be good for NTPC
A close above 68 could trigger some buying in Opto Circuit
With a closing stop below 354, Raymond can be bought, I feel.
TataPower could do well if it starts trading above 97 levels.

NOTE: After yesterday's slight green candle, I have modified my stoplosses. Now, 5834 is the stoploss for spot, while 5826 is that of Nifty Future (whichever comes last). Since, Nifty Future value is the least one, I'll be keeping it as my stop for the time being.

Regards,

SAM

[psalm]

Expecting the Nifty to find some resistance at 5947 and then at 5968....a close above 5930 will be another good sign....Let's wait and see where we'll be at the end of the day....

[SP50]

[psalm]

[psalm]

[Vevensa]

Dear Sam,

I am a silent reader of your posts for more than a year. Your multi-tasking capabilities like analysing nifty, many stocks, currencies, world markets & events, helping others on their queries on specific stocks, posting all these in the forum during trading hours, managing your own trades etc. - simply great. This is my sincere appreciation.

May God bless you with all good things in life.

Thanks.

[pkholla]

Sam: I fully endorse Vevensa's statements. You are a great man who apart from doing a lot of own technical analysis, is always ready to help others. We may ask many a stupid question but your answer is always helpful.
BTW, on the lighter side, Vevensa, how can you be a SILENT reader if you are posting regularly. You cannot be both SPECTATOR and PARTICIPANT! Decide on one category!
Cheers, Prakash Holla

[SP50]

[vinay28]

I too agree samji sir!

[psalm]