iCharts Discussions

[senthilkumar2222]

[senthilkumar2222]

DEAR MANJU SIR
I made money On ur sell calls of DRREDDY&PNB Thank u sir.can i go short in SIEMENS FUT(MARCH CMP-849.55).If so what is ur Target n SL?Im expecting ur valuable idea for siemens sir.

Regards
Senthilkumar.V
Tamilnadu.

[senthilkumar2222]

DEAR MANJU SIR
I made money On ur sell calls of DRREDDY&PNB Thank u sir.can i go short in SIEMENS FUT(MARCH CMP-849.55)& SBIN FUT(MARCH CMP2763.75).If so what is ur Target n SL?Im expecting ur valuable idea for siemens n sbin sir.

Regards
Senthilkumar.V
Tamilnadu.

[anand1234]

hi.........manju

wt is ur views abt the nf in short term.......atleast for month ned??..............pls advice

thanks
anand

[as4manju]

Senthil,

My view on Siemens remains the same it needs to cross 850 or below 830 .. Sbin i quite bullish but not at current levels for all investment purpose look for buying at 2450 levels.. banking senario doesn look good for some time.

Regards
Manju

[as4manju]

Anand,

usally when ever there is a big event round the corner i usually avoid mkt as there is more speculation and manipulation.. any way 5610-5620 the 200DEMA is resistance for the mkt so as i keep telling buy on rumors sell on news so most probably this ll also be the fate of mkt i just hope that i should be wrong..

Regards
Manju

[as4manju]

TCS - The stock is in a tight range of 90 points the levels to watch for is 1060-1150.. above 1150 it can do 1170-1200-1220 how ever i m not betting much on the upside we have seen a false breakdown in the same channel so its possible we might have a false break out as well so dont see the stock running away any where.. This just a technical view avoid poistions in the stock..

Over all on the mkts be catuious on the long positions that too adding long would be sucidal how ever stocks bought earlier trail with SL.. try to add longs only above 5610-5620 levels once mkt closes above these levels..

Regards
Manju

[as4manju]

Jan 28 posted to buy reliance and HUL as a risky bets and reliance is at 1000 would suggest to exit partial Qty and trail the rest with a SL of 960 can do 1020-1030..

Regards

[as4manju]

Disclosuer: Wel the credit to this post goes to my mentor which he has shared i m just passing on this information i ve just add my comments my views...

Budget: This is the BUZZ on street there is a lot of expectaion from the mkt men that it should be able to stop the bear carnage, well there are many people talk and giving anology of what mkts have done post budget how much returns it has given historically with complicated theories....

Well the charts i ve posted is quite simple as i always say "keep it simple".. the patterns are similar but the only notable thing is that we are below the long term AVG... i still repeat my fav quote " in down trend buy on rumors sell on news"

My Expectaion from budget... wel it ll be a non event.. can see some banking reforms.. beyond it nothing much... what i want from budget hmmmm plz make lot of changes is direct taxes( as i m a salaried person )..

See you all post budget...

Regards
Manju

[anand1234]

hi..........manju

I am still holding lichousing @201................can I everage here more??..or I shd wait??...................ur tgt was 210 in short term........

pls comments on this.........u r so perfect on ur calls so.................

thanks
anand

[as4manju]

Hi anand,

in most of the calls i had mentioned that its very difficult to break away from a range of 10-15% and move so the risk of false break outs are quite high.. LIC actually had a good break out with nice volumes but there was no follow up buying in the stock and the worst part was that even mkts closing near the tops.. Any way best thing to do now is if its a very small volume if can hold on hold it else best thing to do is book loss wait on side lines for next two days let mkt decide the direction..

Regards
Manju

[as4manju]

Well last time around i mentioned when i came back from my break wsa the " i dont see Nifty crossing 5600" and touch wood Nifty just Kissed 5599 and i also mentioned that there is a small gap at 5319-5340 and looks like we are going to close that gap..

Ok i m just posting two senarios based on Core trading concept of weekly charts. For last few weeks we have been having a pattern of 3 candle (both on up and down) followed by candle of opposite color(3 red followed by a white or three white followed by a red)..

Case1
there is already a white candle before so this week we close in red and followed by two more weeks of down tick with red candles and take support at 5180 levels.. this case can be justified also because we are at the top end of the channel..

Case2
having a good budget we take out 5600 and followed by a good up move and also re test 20-40 period movig AVG which comes to 5600 and 5676 the move beyond saying worst is over.. with a channel height of 400 points hit 5800 porbably on the upside...

One more observation on the daily charts of the index which is very verry rare to see is there was a clear indications before we topped out that index had few exhustion gaps(i m attaching the charts for ref).. these sort of gaps are usually seen in mid cap and small cap stocks.. i wounder y no one could see these early warinings hmmmmmm well i m not a index guy so i check the index charts rarely..


To end i will start worry big time if we take out 5180 on the down side cause from there we can see a shave of 400 points...Keeping fingers crossed

(all levels mentioned are for spot index)

Regards
Manju

[singh.ravee]

Manju sir hello,
i posted this chart of nifty eod 2-3days back in a thread. I think today what we saw is a breakdown of bearish flag. I think we can go below 5200.
Kindly share your valuable comments.
Thanks and Regards
ravee

[as4manju]

Hi ravee,

I had checked this post well as of now it looks like a possiblity for me as well but dont see it breaking 5180( approx) as the charts i ve put is based on the weekly charts and this also ve a channel support followed by a trend line support with it.. only a bad new for mkt in terms of changes in norms of stt or taxtion on capital gains and things like that can spook the mkt..

Regards

[anand1234]