Seeking Alpha

moneyvistas'  Instablog

moneyvistas
6 Followers
1 Following
Send Message
Hi iam Chandrasekhar.I am a self trained Technical analyst and Financial advisor.Investing and trading in indian markets from last 5 years.Giving advise to people on technical basis,Running live chat room during market hours and I offer nifty futures premium services.call me at 9342455559 My web... More
My blog:
MONEYVISTAS
  • India - Bourses showing a sideways momentum with positive bias.Will it cross 6090 & Hold 5785 for December 2010 0 comments
    Dec 4, 2010 12:44 PM
    • "6046" is Nifty's resistance.Nifty has potential to test "6090".
    Support at "5785" level.December expiry should be above 5800.Above "6090" the next levels to watchout  are between 6140 - 6185 and 6250 .

    Below 5800 "5650 to 5735" is where we should see buyers interest.

    5550 is the level where we spent time to break on upside.After that we witnessed a sharp rally on bourses that took us to 6338 level on Diwali day.So 5500 levels is also a important support.200 day moving average to reaching 5500.Below 5500 the next important support exists at 5150.

    For next week - Technically Nifty formed Lower High and Lower low on daily charts.Breaking 5964 is a warning sign for bulls and watch "6046" on upside.
    •  
    • Bank Nifty has resistance at 12600,12750 levels.Downside support exists around 11800
    • Cnx IT has resistance at 7000
    • Cnx Midcap shouls cross 9100 for further gains.
    • India Vix has resistances around 20 level.15 to 24 is the range for Vix.
    • As suggested Cipla rallied from 330 level to 375 with 13% up move in a week.The charts are looking Highly overbought.Support seen around 325.It's better to book profits.
    • Dr Reddy's trading at 52 week high's with highly overbought readings in all oscillaters.Risk reward ratio is not favorable for bulls.
    • Idfc has support around 174 levels.Cmp is 184.The stock should see buyers interest.
    • Itc is looking positive.
    • Maruti November sales report was quite good.Stock is in overbought zone and it can remain overbought where one can see intra day corrections getting bought into.
    • Ntpc is a must short term buy.It's quite attractive.
    • Powergrid should reach 105 immediately.Cmp is 100
    • Sterlite has resistance around 178.Better to book profits there.
    • Tata steel holding 570 levels from long time.Upside resistance around 660.
    • Amtek auto should see buyers interest.
    • Escorts has support at 180.Buying zone.
    • Mrf has support at 7400 but overbought.
    • Dishman pharma looking strong.Resistance between 190-200.Cmp is 143
    • Pfizer trading at attractive levels.One should enter atleast in small quantity.
    • Avoid tainted companies like Welcorp.
    • Nutel india is must buy for 10 to 20% return.
    • Harrison Malayalam can bounce any time.Participate in it.
    • Tata Global beverages(Formerly Tata tea) has more upside from current level 114.
    • Sugar sector looking positive.You know how long they lost.
    • Unitech has support at 58.It can correct towards that level.
    • Reliance power holding 150 levels.Watch out.
    • Bpcl has strong support at 630 levels.Resistance at 740 levels.Strong close above 740 can take it to 900 levels.
    • Reliance has strong resistance at 1040 levels.Watch out the action around those levels.
    • Financial techno is a must buy.
    • Gtl aat important level.Cmp is 415 with negative bias technically but anything can happen.
    • Hotel stocks are technically exhausted except Mahindra holidays.
    • Dabur has good potential to go up.It was "Portfolio 2011" pick too.
    • Godrej industries looking positive.
    • Hsbc Investdirect stuck in a small range of 397 to 390.Watch out for breakout on either side.
    • Rcf has support at 90.Should see buyers getting in.
    • Ultratech cement has support at 1000.
    • Sabero Organics looking technically positive.


    Disclosure: no positions in above mentiones stocks
Back To moneyvistas' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Full index of posts »
Latest Followers
Posts by Themes
indian markets, indian markets analysis, nifty
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.