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India's leading stock market index--Sensex-- is refueling for a 3700 point move in the near future. The direction of index depends on the direction of the break from a consolidation pattern.
The NIFTY will also move with the Sensex as both the indexes have similar chart patterns. In November last year, when the markets hit their previous highs from 2008, we had recommended that longs take their profits and aggressive bears initiate short positions. The downside target on the Sensex was 18,000, when the index was at 21,000.
After hitting it's previous peak in November 2010, Sensex hit the target we had mentioned and went further down to the 17,500 level. However, since hitting the peak the index has moved in a consolidation pattern called a symmetrical triangle. In a symmetrical triangle, price moves in a continuously narrowing range as buyers and seller battle to give market direction, but fail. The narrowing range forms a symmetrical triangle when we connect the peaks and valleys in price.
Once prices break out of the triangle they usually have explosive moves. Right now the Sensex is stuck in the triangle as shown in the graph. If the index closes outside the triangle on the downside, prices will head lower. On the other hand a close above the triangle's borders will take prices higher. Long term traders tend to avoid asset classes moving inside a symmetrical triangle. They take positions only after prices close outside the triangle.
When prices are moving inside the triangle, professional traders consider the asset class to be refueling for the next strong move. Since in a symmetrical triangle the direction of the the move is not predicted with a high degree of certainty, it's best to wait for prices to close outside the triangle before taking a position. However, the text books state that symmetrical triangles are continuation patterns. This essentially means that Sensex will continue it's upward momentum.
But one thing the text books don't talk about is the location of the symmetrical triangle. Just like the value of square foot of land is much higher in Nariman Point than in the suburbs of Mumbai, so is the location of the triangle. Since Sensex is near it's previous high, which is a strong resistance area, the likely hood of continued rally from the symmetrical triangle is low. However, had the a symmetrical triangle been near 12,000 with prices rising from 8000 the rally would have continued
How far the Sensex can go after the break from the triangle is estimated by the measured move. The measured move is the distance between the second touch in a the triangle and the trendline on the opposite side. In the case of the Sensex the measured move is a little above 3700 points. Once the Sensex breaks out of the triangle, 3700 points is applied at the point of break to estimate the target. For instance if the Sensex breaks below at 18,000, then 3700 is subtracted to arrive at a target of 14,300. On the other hand a break above at 19,000 can take the Sensex to news highs of 22,700
Written by MOHIT GAVHALE
YES!!!!!!
Tatas overtake both Ambani groups together in market cap!!!!
Tatas may not be known for being on the stock-based rich list, but changing market dynamics have led to the salt-to-software conglomerate overtaking the combined market wealth of the two Ambani groups put together.
The share prices of both the Reliance groups, led by billionaire brothers Mukesh and Anil Ambani, have been tumbling in the recent past and share price of some Tata owned company rise very much in recent past.
In the process, the stock market wealth of the entire Tata group has grown to close to Rs 4,40,000 crore — the highest for any corporate house and bigger than the combined figure of the two Ambani groups, at about Rs 3,67,000 crore.
1.RIL may have to acquire RCom for telecom success: Report
Yes!!!!
In its bid to become a leading player in the telecom space, Mukesh Ambani-led Reliance Industries Ltd (RIL) may have to acquire younger brother Anil-run Reliance Communications (RCom), a report said.
RIL's proposed re-entry into the telecom sector is currently limited to broadband wireless business and it might have to acquire “one or more extant telecom operators” in the voice segment, brokerage firm Kotak Institutional Equities said in an equity research report on Reliance Industries. The report further said the acquisition route might also not be much value-accretive, unless RIL can acquire RCom, which became part of the Anil Ambani group as part of a family settlement between the two brothers in 2005.
2.Govt may allow foreign individuals to invest $10 bn in MFs
Yes!!!
India is likely to allow foreign individuals to invest in mutual funds in the next two weeks but with a cumulative cap of $10 billion.
2.Govt, civil society talks on Lok Pal Bill fail
Yes!!!
Talks between government and Anna Hazare-led civil society failed to make headway today and the two sides to agreed to meet again on June 20 and 21 to bridge "strong divergence" of opinion.
Be Alert!!!!!!!!!!!!!!
Something not going good in market!!!!
Stay Cautious in Near Term!!!!!
Yes!!!!!!!
You All Know What Happened in Market!!!!!
Always..............track me Brings.......Accurate Idea of market Trends
When Street Talker Barking......
Street Talker Barking.....Nifty Can go 4800...4500...4200 Due to High Crude Price..........
Ongoing Scams Budget Worries
When.....................
1. Insider say Some Big Investor Eyeing on Trent & Shopper's Stop for Big Investment.
2.Insider say Timex may come out for Delisting offer at Heavy Premium to Current market Price.
3.Insider say heavy activity start in Midcap Space Some Big Operator Already Start to take Big Position in many Midcap Stocks.
4. As per advance expectation & some Insider Information Airbus may pick up stake in Cades Digitech a subsidiary of Axis IT&T after some time
According to a recent report by Morgan Stanley Research on emerging markets , the first half of the year will continue to be difficult in terms of returns but the performance is likely to improve in the second half of the year!!!
The report highlights three possible scenarios for the MSCI Emerging Market Index-a bull case, a bear case and a base case. It assigns different weightages to each (see graphic).
Accordingly, the report says, earnings are likely to see a deceleration in EPS growth, from around 40% YoY in 2010 to 13% YoY in the base case and 4% in the bear case!!!
FII Figure!!!!!!
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What To Do Today........
Nifty....Today Face Resistence at....5305...5363....5430
Nifty.....Today Support at .....5215...5162...5105
Nifty Range...4800--------6600
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NEXT TGT FOR
WE SHORT NIFTY @6100 TGT 5350 / 4800
OUR 1 TGT HIT NIFTY 5350
Scammmmmmmmm Rumors Every where So Stay Away...
Our Opininon for Today's Market.......
1.Stock Specific Movement Expected Today ......
2.Midcaps Looks Good........
INTRADAY HOT STOCKS: 21/06/2011
SELL TATA ST BELOW 558 TGT 552/545 SL 564 OPEN
SELL BATA BELOW 525 TGT 515/505 SL 532 BUY ABOVE 535 TGT HIT
BUY BHARTI ABOVE 391 TGT 394/398 SL 387 TGT HIT
BUY COAL IN ABOVE 396 TGT 400/404 SL 392 TGT HIT
SELL ADAG EVERY UP SIDE ALL DOWN 2%
TODAYS PAID CALL:
SELL NIFTY @ 5325 TGT 5285 TGT HIT
BUY 5300 PE @ 60 TGT 80 TGT HIT
BUY TCS @ 1085 TGT 1100 TGT HIT
BUY ADVANTA @ 260 TGT 270 TGT HIT
BUY RIL@ 945 TGT 955 TGT HIT
BUY AXISBK@ 1230 TGT 1240 TGT HIT
COMMODITIES
BUY SLIVER @ 53980 TGT 54400 TGT HIT
SELL GOLD@ 22700 TGT 22650 TGT HITBUY CRUDEOIL@ 4240 TGT 4290 TGT HIT
CURRENCY
SELL EURO @ 64.50 TGT 64.35 TGT HIT
positional SELL RCOM @ 108 TGT 85 / 60 SL 112 1 tgt hit
La Opala RG Ltd
(BSE TICKER-526947@ Rs.82/-)
La Opala RG LTD it is the only well established name in the crockery business in the country. The product is being sold through departmental store, general utensils merchant and gift retailer. 15% of the revenue is derived from export. USA, UK, Spain, Belgium, France, Germany, Japan and Dubai are some of the countries where the company exports its product
Excellent FY 2010-11 Result!!!
TARGET
Rs.124/- Rs.150/-
Dynamatic Technologies Ltd
(Bse Ticker-505242@ Rs.1500/-)
Order From Airbus & Boeing
One of the biggest Aviation Equipment Provider Company
Target
Rs.1900/- Rs.2400/-
Jubilant Food Works
(BSE TICKER-533155@ Rs.825/-)
Every Dip is Buying Opportunity!!!!
TARGET
YES!!!!
Another Nestle in the making!!!
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DISCLOSURE: - Our Friends & Colleagues, We Personally May Have Positions In The Above Mentioned Stocks. Anyone Who Has Links To Us In Either Way May Also Have Positions In The Above Stocks.
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