iCharts Discussions

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Its friday so nifty time.... hmm its funny many people over last few days at my work palce asked this question "how much more the nifty ll fall where ll the mkt stop y mkt is falling"... the irony is that when mkt goes up no asks y its going up and where i should exit my positions its only when they start loosing they get alert..

Ok now the levels for Nfty mkts have not closed below the 40 period moving avg since march 2009 today if it closes below 5649 this will the first time... so on the weekly charts the fib retracements support are placed at 5550 below which the free fall to 5390 can happen... And the core trading concept also say break below 40 period closing avg can have a drastic fall as we had a drastic raise when it closed above 40 period avg in march 2009..

i hope that it ll only a bleep or a false break down only ...

Regards
Manju

ali522003 · White Belt Joined: 03 Jul 2010 Posts: 217

pnb activated

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Dr Reddy: mentioned below 1620-1600 tgt can be as deep as 1520 today made a low of 1526..
2guns

PFC - mentioned below 270 tgt 263-258 today made a low of 258[smilie=2guns.gif]

Uni phos : had mentioned below 150 can do 143 stock has made a low close to 143.5 2guns

Rel cap : mentioned below 570 tgt 550 today its trading below 550..

Sun pharma: below 465 tgt was 450-440 now trading below 450 tgt1 reached..

Tata motors have a watch on 1170 levels below which it still have a good fall...

Regards
Manju

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Reliance : The stock has good support at 900 for past 1.5 years its trading in the range of 900-1150 levels so can take some risky bets at these levels with 2-3% SL...

HUL: 260 is the levels where one can see some buying in the stock so can intiate a speculative longs...

Regards
Manju

anand1234 · Yellow Belt Joined: 17 Jul 2010 Posts: 830

hi..as4manju..
ur every calls r really rocking.....................
I sell jindalstel @ pow @659..............how much I shd expect to day................though I know its a difficult to predict any tgt of intra.........but still if u hv any idia??....pls reply

thanks
anand

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Anand,

Probably 650-645 is possible...

Regards

Manju

anand1234 · Yellow Belt Joined: 17 Jul 2010 Posts: 830

hi........as4manju

thanks for ur comments

thanks
anand

ali522003 · White Belt Joined: 03 Jul 2010 Posts: 217

The most effective and bessst thing in the forum of Icharts is that your query will be answered in just few minutes or hardly in few hours.. but it will be answered nicely with proper guidance.
one should think tht typing such big answer for an individual takes time..

HATS OFF TO YOU ALL EXPERTS AEOM

ali522003 · White Belt Joined: 03 Jul 2010 Posts: 217

manju bhai .. pnb has a monthly supp at 1087 and it is showing good grips in 1090
wat u suggest ? i shorted future wen cash was at 1096

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

I strongly feel that we ll see a good bounce from the lows so keep ur short volumes low instead of FnO trade in cash with less quantity and trail ur SL so that u dont risk too much of ur money...

Regards
Manju

anand1234 · Yellow Belt Joined: 17 Jul 2010 Posts: 830

hi...as4manju
I sell jindalsteel&pow@ 659...........now 668............any s/l for intra??
pls guide me..................

thanks
anand

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Anand,

Probably u can use 670 as a stop loss.. this stock will be a good trade if it breaks and closes below the level and today being a weekly close it ll be even better.. but my only concern is mkt is close to 5550 so wont be surprised to see a bounce from the current level before the next leg down...

Regards
Manju

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Sun pharma 440 traded all tgts met..

Tata motors weekly close below 1140 would mean a big trouble for the stock..

Jindal steel i would suggets to for todays closing for ppl to trade intrday..cause this stock has given false BO and BD.. only the range based calls work in this stock...

PFC can fall upto 245 as well

Rel capital looks like has become unreliable capital ( i love to comment on R pack they are funny stocks) where can it go from here worst case senario 450-400 levels some thing big is wrong in the stock i feel. its a clear avoid for investors at current level also..

Rel inrfa can stil fall further (compare to privious closing)...

Trail all ur stop loss for short trades strictly..

Regards
Manju

ali522003 · White Belt Joined: 03 Jul 2010 Posts: 217

tatapower activated

ali522003 · White Belt Joined: 03 Jul 2010 Posts: 217

wat stop we should follow in pnb .. it not breaking at all .