latest update on my ew analysis...

sensex ew analysis.

nifty ew analysis.

***analysis to be modified for any changed situation.

comments are welcome.

channel study.

nifty and sensex weekly charts.

nifty for today...

for 09th oct 2007
(all spot prices)
pivot 5120.
for longs closing basis sl 4990 resistance 5211/5260/5300.
nifty becomes weak short if closes today below 4990 for 4900.

nifty(spot) for today
5063-5103-5110-5166-5197-5216-5256-5272-5298-5380

market in coming days...

nifty closed below short term trendline yday.

5300 and 18045/18271 are the logical tgts for nifty and sensex respectively.

sensex has already achieved a significant tgt of exactly 17976 yday.

so far it closes above 17721 i think again there's a chance of sensex achieving 18045.

nifty if stays above 5200 can rally upto 5300 if global cues are bullish.

after that any deep correction should last upto 16500 or max 16000.

06th oct 2007

the technical problem with the blog is now solved.
pls wait for updates.
thanks.

nifty for monday 08th oct 2007...

pivot 5199.63.

above 5200(short term trendline as well as pivot) the lvl is 5300.

but today nifty has closed below short term trendline, an indication of bearishness in immediate term. if the weakness continues, it can slide further upto 5000, hence caution at current lvls is advised.

nifty for 5th oct 2007...

due to some technical problems in the blog, some of the features on this blog will not get updated for some time. inconvenience caused is regretted.

nifty pivot for tomorrow 5189.26.
resistance 5205/5209/5233/5261
trendline supports 5150/5000/4900.

short nifty if closes below 5150.

other imp support 4940.
sl for positional longs 4849.

my feeling is the sensex may get resisted around 18000. from my observation(see the chart) the sensex makes steps of 2000. from 16000 it came down to 14000 then went up to 16000 spent some time there then went fast toward 18000. hence if a correction comes now it may last upto 16000. then the next upward tgt will be toward 20000.

nifty current p/e is 22.58 in a region where normally correction begins.

nifty today...

for 3rd oct 2007
(all spot prices)

short term trendline support 5000 closing basis.
medium term trendline supports 4740/4670
200 dma 4169.

other strong support 4940.

fibonacci 38.2% retracement(4445 to 5089) 4843.

pivot for wednesday 5053.

trend change sl positional 4792.

intraday resistances 5089/5098/5110/5145, support 5050/5000.

in short, 5145-5110-5098-5050-5000-4940-4840-4792-4740-4670.

calls for today...

fut.(strictly intraday)
sbin buy above 1974 tgt1 1984 tgt2 2010 sl 1970
pantaloonr buy above 548 for tgt1 555 tgt2 560 sl 543
maruti buy above 1008 tgt1 1033 tgt2 1050 sl 1000
unitech sell below 310 tgt1 304 tgt2 299 sl 312.50
litl sell below 348 tgt1 342 tgt2 334 sl 356.50

trade any of these according to mkt direction near cmp or sl, u may also buy call or put options instead of futures.


follow-up on these calls

sbin sl hit, a loss of 4 points, stock coming down on news of no sbi rights issue.
pantaloonr above 548 stock touched a high of 581.80 and closed at 578.50, a gain of 30 points.
maruti stock came down on not so good sep vehicle sales figures hitting sl, a minor loss of 8 points.
unitech call not initiated as stock never came to below 310.
litl early morning the stock could reach upto 343.50 then reversed upward.

my fundamental price target for some select stocks for fy 2008...

company name, ***price(Rs.) after one year
ABB 1816
ACC 1193
ABIRLANUVO 1628
AMBUJACEM 142
ASHOKLEY 51
ASIANPAINT 1152
BAJAJAUTO 2942
BAJAJHIND 327
BALRAMCHIN 127
BANKBARODA 394
BANKINDIA 328
BEL 2131
BHARATFORG 393
BHEL 2429
BPCL 392
CANBK 312
CENTURYTEX 924
CIPLA 215
COLGATE 467
CROMPGREAV 472
CUMMINSIND 556
DABUR 125
DRREDDY 510
FINANTECH 3525
GAIL 392
GLAXO 1286
GLENMARK 531
GRASIM 3911
HCLTECH 358
HDFCBANK 1841
HEROHONDA 838
HINDALCO 160
HINDUNILVR 253
HINDPETRO 303
HINDZINC 754
HDFC 2989
ICICIBANK 1314
ITC 212
I-FLEX 2439
INDIACEM 258
INDIABULLS 895
INDHOTEL 181
IOC 582
IPCL 416
IDBI 190
INFOSYSTCH 2362
IDFC 168
JSWSTEEL 1013
JPASSOCIAT 1325
KOTAKBANK 1100
LT 3588
MTNL 161
M&M 850
GESCOCORP 1405
MARUTI 1145
MATRIXLABS 194
NATIONALUM 264
ONGC 1007
ORIENTBANK 269
PATNI 546
PUNJLLOYD 547
PNB 651
RANBAXY 526
RELCAPITAL 2346
RCOM 785
REL 1288
RELIANCE 2596
SATYAMCOMP 545
SESAGOA 2614
SIEMENS 1963
SBIN 2250
SAIL 241
STER 717
SUNPHARMA 1200
SUZLON 2159
TATACHEM 364
TCS 1331
TATAMOTORS 888
TATAPOWER 893
TATASTEEL 886
TATATEA 857
TITAN 1934
AXISBANK 928
ULTRACEMCO 1114
UNIONBANK 193
UNITECH 563
UNIPHOS 548
VSNL 497
WIPRO 563
ZEEL 457

***at current valuations