==>> So finally we are at 5200 levels.

So finally we are 5200 levels. WOW what a rally that has been from 4650-5200 levels.
Major brokerage firm were negative on the markets. They expected the markets to fall till 12000-10000 and in Nifty till 4000 levels. I found no reason in such fall. Corporate results are fine. IT sector are giving good results. Only concern is the Inflation, which will also be controlled in near future. GDP rate is expected at +8% for the current month.
At 4650- levels I have given Nifty target of 4950 and the close above the same will pull the Nifty till 5200 in short covering or fresh long built up. All the targets have been achieved comfortably….

As I have said it will not be so easy to recover from the carnage that has been done to the Indian markets. Markets will see bit of correction or profit booking from this levels. Markets will see some consolidation at these levels. But no one can stop the Nifty to touch the next target of 5400.

For the traders I had given call on RNRL at around 118. Traders can book partial profits at the current levels. Few months I have given a del call for SESAGOA for a long term investors. Congratulations for all those buyers who are still holding. Sesagoa have declared Bonus and Split also. RIL also did very good. Long term investor still can hold on to it..

==>> Nifty touched 5200

==>> Nifty touched 5100.

After a very long time Nifty has crossed the magical figure of 5100. As mentioned the Nifty support is at 4950 and rest at 5200. No sign of correction before tha level. All the leading news paaper and the technical analyst started talkin about break out in Nifty at 5100 levels, But the viewers of my blog, it was mentioned in my previous messegas, when the Nifty was at 4650 levels. It was clearly mentioned at 4650 levels that the Nifty will touch 4950 and then 5200 levels. and we have already seen a good rally in our mkts.

Stock specific calls were also given, like RIL, RNRL, RPL etc. All the stosk gave fantastic returns. On friday I have given a call for traders to BUY RNRL. the stock was up around 5%. traders can still buy RNRL, RPL. BUY PRAJ IND for del.

== >> Nifty closed around 5000 levels

BUY Nifty with the SL of 4950 in spot. Nifty spot has a good support at 4950. Global markets are good. Sub prime losses in USA are coming to end. All the major losses has been reported and taken into consideration.
Inflation for this week will not be too high.
For traders… BUY RNRL.
Investors can BUY RPL, NTPC, PRAJ IND, LANCO INFRA.

===>> Nifty closes above 5000 levels

On 09th April 08, I have clearly mentioned that the Nifty chart is showing signs of breakout and the break of the lower top and lower bottom pattern. And the Nifty can touch 5000 levels in the coming trading sessions. Nifty close on 8th April 08 was 4709.
First target for the Nifty was achieved.
On 15th April 08, it was also mentioned that the close above 4950, can take the Nifty to 5200 levels. That is also possible, as all the major companies are coming out with better then the expected Q4 results. It will take some time to achieve the mentioned target. 4950 – 4800 will be a very good support.
===>> Nifty closes above 5000 levels

Nifty closes above 4950

RIL posted good results for this Quater.Results are in line with the expectation.
Yesterday Nifty closed above 5000 levels well above the major resistance level of 4950. Nifty for the futher move, for few days has to close above 4950.My immediate tgt for Nifty as mentioned is 5200.

Inflation was at 7.14 % as compared to 7.41% a week ago. CRR has been increased by 50bps as mentioned earlier, to control inflation. According to another increase in the CRR or Repo rate is on the cards. Wait till the next move, for futher clarification.

Finally Nifty closed above the major resistance level of 4950. It closed at 4958. On 11th of april the Nifty chart showed a breakout. On Friday Nifty closed well above the 23.6% retracement level.

Banks will come down on the back of increase in CRR rate. If the Nifty closes above the retracement and the 4950 levels, the next target for Nifty is 5200-5300 levels.

==>> Nifty closed below the major resistance level

Nifty is facing stiff resistance at 4900 levels. Nifty 23.6% retracement is at 4900. Nifty once again closed below the major resistance level of 4950. In the last few ocassions its been noticed that the Nifty trades around 4900-4950 but the close is not above 4950. But this time according to me the Nfity will give a close above 4950. Due to the short trading week, the momentum is very volatile
Yesterday I had given a call of Rel Capital with the price tgt of 1375, that was reached. My target for RIL Ind was 2645, that was also achieved.
Buy Bharti Airtel above with price tgt of 850, close above 850 will take the price upto 900.

==>>Nifty once again at 4950 levels.

Nifty once again, near 4950. In the last few blogs I have been talking about Nifty's major resistance level at 4950 and support at 4700. Last few trading session it has been moving within this band only, and I have also mentioned that the decisive breakout will be good either side for the Bulls and the Bears. Nifty has taken a good support at the “rest” trendline which has been marked with pink line.

According to me the upside is more logical, as all the major bad news have been discounted in our markets. Infosys results are also in line with the expectation. Fy09 revenue guidance was ahead of the expectation at 19-20% yoy. EPS guidance of 16-18%.

All the major companies will be coming out with their results. Markets may remain slightly volatile, but upside breakout in Nifty is definately possible. Close above 4950 can take Nifty to 5200 levels.
Few days back I have given call on RPL and RIL ind with the tgt price of 190 & 2500 respectively. Both the targets have been achieved.

RIl above 2618 can touch 2645. 100 DMA is at 2620, so some volatility will be seen at that level. RIL chart is showing a clear breakout pattern.

Reliacne capital looks good, BUy with the price target of 1345-1375, with the SL of 1276.

Buy Tata steel only when it trades above 702 for sometime. with the SL of 686.

Buy adlabs with the tgt of 750

==>> Nifty at 4800 levels

Today again Nifty tried to close above 4800, but as a major resistance level, Nifty tanked till 4720.9 in the closing session and closed at 4733. As mentioned in the blog which was posted in the morning, that since few days Nifty is trading in the range of 4700-4950 levels. Either side breakout is possible. One of the major gainers was Reliance ind. I had given the call of RIL in the morning with the tg of 2470 and it touched 2523. RPL was also told with the tgt of 182 and that also made high of 179.70.

Nifty has taken a good support at the “ Rest” trendline. In the closing session markets tanked down to make the new intraday low on profit booking and on worry of Inflation data that will be announced tomorrow. Inflation data will be once again higher then the expectation. The support and the resistance level still remains the same.

==>> Nifty closed near the rest level

Its been seen in the last 5 trading sessions that the Nifty is trying to close above the "rest" trendline, but till its not achieved the success. Nifty is finding good support at 4700-4600 levels. We have seen that the Nifty on 28th March tried to touch 5000 level, but due to lack of buyers and profit booking, closed below at 4734. It tired to break the lower top and lower bottom pattern by touching 5000. Nifty is not making lower bottom below 4600. Its trading in the range of 4600-4850. The close above the tredline will take Nifty to 4950-5000 levels, and there are chances that the lower top and lower bottom pattern is broken.

But if the Nifty closes below the "support" trendline and below 4600 then the Nifty will touch 4450 within few trading sessions. Up Trend is like possible.

Reliance has a good resistance at 2420 levels. Close above that will take it to 2470 levels.

RPL looks good above 175 tg 172, with the Sl of 168.

==>> Pull back rally

Nifty closed up around 2.50%. In the last 5 trading session, nifty tried to close above the major level at 4800. In the technical chart provided, its clearly seen that the nifty is trying to close above the "REST" trendline, but in the ending session the close is below that.

==>> Inflation is at 3 year high. Serious concern

Nifty in the last week, twice tried to touch the 4950 resistane level, but was not successful. and closed below the Long term trend line. In the weekly chart, Nifty tried to close above the 23.6% retracement level from 6357-4450, due to lack of buyers. AS mentioned the Nifty major resistance level is at 4950. Till the time the close is not above the same, Market will remain volatile, inspite of strong global markets.The BSE closed the day with a loss of 489.43 points, or -3.09 % at 15343.12 points.It opened with an upward gap of 63.54 points at 15896.09, touched an intraday high of 15896.09 & low of 15303.04. The market breadth was extremely negative on BSE: 837 scrips had advanced, 1792 declined, while 66 remain unchanged.

Inflation wass at 7% as compared to 6.68% in the previous week. Its for the first time since Dec 2004 the Inflation is at 7%. The interest rates are currently at 7.75%, which was not tampered with when the Credit Policy was announced last on 29th January 2008. The next is scheduled for 29th April where a rate hike is a certainty.

Wholesale prices rose 7.0 percent in the week ended March 22 from a year earlier, faster than the previous week's 6.68 percent. Vegetable prices are up 4.9%. The current hike in inflation is being caused primarily by higher global commodity prices in agriculture, fuel and metals feeding to domestic inflation. It is not just an Indian situation; currently the whole world is facing the same problem of soaring prices.

It was generally expected that if the inflation had not breached or touched the mark of 7%, the markets would have improved but now that reality has hit, the markets have not taken to this news too well.

Nifty major resistance level is at 4950-5000. Support is at 4600-4450. Nifty should close above 4800 for futher rally.

==>> Nifty major support at 4750-4700

Nifty has a major support at 4750-4700 and it faces major resistance at 4950. Nifty for the past few day is trading in the range of 4700-4950. On the Option side there has been good put writing at 4500 & call writing at 5000-5100 levels. So any move beyond these levels can be taken into consideration for long or short positions. Either side is a breakout trend.

Yesterday i have given a buy call on RIL. Ril closed at 2393, traders can buy again at the same level with the small tgt of 2415, and if it crosses above 2420 then hold on to ur position. 2420 is a break out.

RPL looks positive. Yesterday the OI has gone up by around 20 Lacs. Buy with the minimum tgt of 190 with sl of 160.

IT Secotr looks very positive. For the last few days the Fall in out markets are supported by only IT sector. Investor should start investing in the IT sector, FMCG & pharma. IT sector looks more promissing....... BUY

==>> Bur RIL & NIFTY

Buy Nifty future cmp
Buy Reliance cmp 2370. tgt 2415. Buy more if it crosses 2420. Breakout

==>> Nifty major resistance at 4950

Yesterday our markets opened with gap in the green, but in the closing session slided in the -ve zone. Nifty after opening poistive at 4741, rallied till 4916, but as mentioned that the Nifty has good resistance at 4950, slided down and closed at 4743. On 28th March 2008 Nifty closed above 10DMA. That was the only day when Nifty closed above 10DMA since it slided down below on 03rd March 2008. Nifty support and resistance still remains the same. Global markets are marginally down. Even after the great rally in the Global markets yesterday our markets underperformed. WHY???

Where are all the Mutual Funds, have gone. They are sitting on the huge cash pile of 22,908 Cr.

Mutual funds asset base fall 6.6% in March - 31 out of 33 MFs reported declines - AUM as of March 527705.93 v/s 565100.04 crore a month ago.

Oil PSU's retail losses up 7.3% and oil bonds maturing in March to increase fiscal deficit.

==>> April fools day.....

Happy April Fools Day for the Bears in the markets. In the opening after some bull back Nifty witnessed some fresh shorts, that resulted in 30 points discount between Nifty spot and Future. But in the latter half the 30 points discount turned into 30 points premium... it was the day for the Bulls. Bulls made a happy ending by fooling Bears on the April Fools Day.......
This was the message that was posted with the time also.
( ((12:49:41 PM vishal_retail: Nifty spot is trying to make inverted head and shoulder. Buy nifty future if the spot crosses and stays for sometime above 4670. Nifty future turned in premium of rs.20 from dis of rs.20.. maal laoooooo.. JST HOLDDDD
1:28:13 PM vishal_retail: maal laooo Nifty futureeeee. Nifty spot has a small rest at 4750. if it crosses above then jst holddd. PICTURE ABHI BAKI HAI MERE BHAI
12:53:34 PM vishal_retail: buy Power grid, RIL, NIFTY, LITL,RPL, SESAGOA, JAI PRAKASH ASSOCIATIES.)))
I have clearly mentioned that the Nifty is trying to make a head and shoulder pattern. I have also mentioned that if the Nifty turns around from here then it can easily touch 4950-5200. Just hold on for any long positions till the week end… SGX Nifty trading at 195 points +. Worlds markets are also in green around 1.5%-2%. Once again my viewers were well informed in advanced about the bull run. They are still long on the Nifty future and some of the Frontline stocks also… Call given on the right time is worth a million.
U.S Markets rallied overnight. Dow closed up 391 pts, Nasdaq up 84 pts. Asian markets have taken cue from them. HangSang up 852pts and Nikkei up 423pts and all other asian markets are up over 3%. Expect gap up opening of 100pts+ for nifty today.
Nifty will resistance at 4950-5000 levels if this is crossed and the close is above then 5200 confirmed, as the Nifty will make a higer top and higer top formation.
UBS and Deutsche Bank took a combined $23 bn hit on the subprime crisis.

==>> Nifty closed below the REST trendline

Today Nifty closed below the "REST" trend line but finally took support exactly near my long term trend line. Nifty had a good support at 4800 but could not hold on to that due to lack of buying interest. I had given a buy call of Nifty at 4825 with sl of 4795. SL triggered. As in the last blog i have mentioned that the Nifty is trying to make a head and shoulder pattern. From here we will see some reversal.. If the Nifty turns around from here then it can easily touch 4950-5200 levels. Nifty for the completion of the head and shoulder pattern can come down till 4680. Nifty close should not below 4600, otherwise the doors are again opened till 4450. This could be the extreme case, and this could not be rulled out. 40DMA have also cut the 200 DMA from up to down. This could be the exterme case. The next levele can only be decided after 1-2 trading sessions. Keep both the levels in mind. Upside trend me more likely to trigger. So investors and traders can again buy at lower levels with the SL of 4600.