diwali special stocks to watch and invest...

apart from all the stocks to watch recomm given in last few months, many of which are already giving good returns, here's some of my stock picks for medium to intermediate term.

buy on dips for atleast 20-30% returns***.

aban offshore,
larsen and toubro,
bgrenergy,
ivrclinfra,
idbi,
nagajuna const,
orchid chemicals,
powergrid,
cesc,
relcapital.

many banking stocks like andhra bank and realty stocks like dlf and hdil, oil stocks like essaroil and ongc, some it stocks like hcl-insys, metal stocks like hindalco, ster, sail, engg like laxmimachines and it education stocks like niitltd etc may continue to move up if money flow into mkt and stocks continues.

(***not for immediate gains, for those traders/investors with patience, and only if mkt supports, suggested to have a decent stoploss, pls read disclaimer given above)

दीपावली की हार्दिक शुभकामनाएं !!!!!

यह दीपावली आपके जीवन को खुशी, धन, तथा सुख एवं समृद्धि से जगमगा दें !

प्रदुषण कम फैलाएं और सेहतमंद दिवाली मनाएं !

दिवाली की ढेरों बधाइयाँ !

शुभ दीपावली २००९ !

16th oct 2009...

as given in 12th oct 2009 post nifty bounced from the support tline, reacted intraday from first resis line and then did a brkout from both the resis lines. it was also clearly mentioned that short term will be bullish above 5025 close and nifty thereafter reached upto intraday high of 5152, which was also our tgt as per ew analysis on eod charts.

the us dollar index still continues its downward journey which is helping the rally in global mkts.

positional longs are intact since 4630 and 4900 acted as safe and imp sl. presently sl for short term positional longs is 5000.

intraday trading lvls: in intraday it was weak yday and if mkt is not able to sustain above 5120 then can test supports at 5077/5065, lvls below which are 5040 and 5012. above 5120 it can go to 5152 brking above which can go upto 5200/5250 in near term.

poll results...

the dow jones poll on the blog is closed. this is ur(reader's) final opinion about what u feel how the movement in the dow jones is likely to be from hereon. remember i had asked for very long term dow movements here and not short term movements. i had not voted on this poll since i had given my opinion(case II, suprisingly its the one attracting least attention:)). thanks to everyone who participated, it helps to get some idea of how the readers view the global scenario.

case V: dow will not go down below march 2009 lows and will not go beyond 2007 high(40% respondents in favour).

case I: march 2009 lows are final and 2007 high will be taken out(18% respondents in favour).

case IV: dow will go down below march 2009 lows, get supported on/above trendline support, move up but not cross 2007 high(15% respondents in favour).

case II: dow will go below march 2009 lows but get supported on lower trendlines and move up above 2007 high(12% respondents in favour).

case III: dow will go down below march 2009 lows and go down below trendline support(12% respondents in favour).

closing the blog is a difficult decision for me. the main objective of utility of technical analysis in judging the market has been met with a very good success. hence intially, from 20th of october 2009 i won't be able to update the blog on a regular basis, say once every two weeks. some features like the calculators will be disabled since the site where they are hosted will be going down.

thanks.

mkt ahead...

as said earlier nifty is already in a near to short term profit booking downtrend but had not broken any imp support lvl. sustaining a close above 5025-5030 can set that trend to up again.

however 4900 is key lvl which has acted as a very good support, a brk on closing of which chance of nifty sliding another 100 odd points.

nifty closed below thursday low so a bit weak. however it also closed very near/above the support tline from march lows. hence might give a small bounce, to be resisted by falling resis lines on upperside near 5000 and 5040.


on hourly chart its moving in a triangle-like pattern. one may either play swing within the triangle or wait for brkout/brkdown.

safe sl for short term posi longs 4900, tsl for intermediate term 4860 closing basis, if the index remains rangebound profitable/tradeable stock specific moves can occur due to the result season going on.

some imp indices comparison...

comments given on the chart.