==>> Swine Flue in the Dalal Street too

Its been a Swine Flue in the Dalal Street too.
Once again the viewers of this blog have been informed prior, about the correction. In my last blog I have mentioned that the Nifty chart suggests that there is a Double Top pattern formation and that the Nifty will fall down again. In the past also, we have witnessed that the Nifty has tried to close above 3500 levels, but due to the selling pressure, Nifty was unable to close above the same. Today, markets opened in the negative zone and for the majoor traded in red. Sensex fell down below 11000 levels, but closed marginally above the level. Nifty closed below at 3362 down 107 points. Sensex closed -370 points down. For this expiry, Nifty will be near 3300 levels. Volumes also saw a dip in the last few trading sessions.

==>> Nifty chart suggests definate correction

Yesterdays Nifty chart suggests that tthere will be definately some correction. In the last few blogs i had commented that the mkts will see some correction. Nifty will fall down to 3335 levels and it did. The week after that the markets witnessed good rally and the Nifty again rallied to make a high of 3517 and closed at 3470. There is good selling pressure at the 3500 levels. In the past 2 weeks, Nifty tried to close above 3500 levels, but was unsuccessful in doing that. Yesterday Nifty made a high of 3417. Nifty made a double top pattern in the chart. We will see some correction in the near future. Keep ur position light, I hope in the past also, on acting on my comment or advice, readers might have definately booked their long position, and might have got the opportunity to buy at the lower prices, as mentioned, there will be an opportunity to buy. This time also its the can case and those who have again bought at the lower prices may book profits again. Nifty will fall down, as there is a double top formation in the pattern.

==>> Finally, finally traders book profits....

So finally the markets have taken a break. Sensex and Nifty cracked down nearly 3% down. Sensex lost 337 points to close at 10947. Nifty once again closed below 3400 levels. Nifty made a high of 3511 and closed below its 200DMA at 3358 losing around 114 points. Markets were very volatile today. In the morning Indices opened marginally up and immediately slided down in the -ve zone. First half the markets remained +ve and then in the second half markets were trading in the -ve zone. Finally we saw some profit booking. As mentioned in my last blogs that the profit booking should be there and the markets will see some correction. And the Nifty is as such trading in the over bought zone, so some coreection was expected. I hope that the readers of this blog might have done the same, if yes then they will definataley get a 2nd chance to buy at the lower levels. Most of the marketmen were in the view that the nifty will touch 3580-3600 without any correction. Which was not possible. Nifty can fall down to 3357-3335 levels.

Some buy calls given in the morning

REC Ltd above 102.5. made a high of 110, up around 10%.

ICICI Bank tgt 442-452-472 touched and intraday high of 462.

SBI tgt 1309-1313-1334 made a high of 1320.

JP Ass made a high of 127.9. The stocks which did not perform were GMRinfra, Chennai Petro. NTPC.

Inflation for the week came at 0.18% v/s 0.26%

BUY Calls

Some BUY calls
NTPC tgt 203 - 209 - 213
Chennai petro resistance at, but above 132 - 133 - 144 - 149
GMR Infra above 111.50 - 120 - 123
JP Associates above 123.50 - 130 - 135
ICICI Bank 442 - 452 - 472.50
SBI Bank 1309 - 1313 - 1334

==>> Indices closed above their 200DMA.

WOW... wat a day this has been. Nifty closed up nearly 100 points at 3495. and Sensex closed at 11284 up 318 points. Nifty made a high of 3497 and closed near its high. Both the indices surged and closed above their 200 DMA. In the last few trading sessions I have been continously saying to book the profits, but the market are making new highs in the past few months. And I have been proven wrong. But the care has to be taken as the markets have ran up quite in the past few weeks and that too without any correction. Bulls this time have given a big blow to the Bears. Today being the 13th consecutive day for the markets to close in the green, the cautious mode is still there. Nifty and Sensex both are trading in the over bought zone. So some care has to be taken.
Volumes have also grown up in the last few weeks. Today Nse cash volumes were nearly Rs.21000 cr and BSE at Rs.7700 cr. In the last 1 year we havent seen these kind of volumes in the Indian markets.
Buy calls given in the morning.
1. Buy Punjlyod above 121.5- 123.75 - 126.25 - 129.5 tgt achieved
2. BUY GVK POWER ABOVE 26.75 DEL CALL…… closed above 28.

==>> Tech Mahindra buys out Satyam

Nifty for the day closed at 3382 after making high of 3417. The last time the Nifty made a this high was in Oct 2008. Nifty once agained faced some selling pressure or profit booking at 3400 levels. Sensex made a high of 11069 before closeing at 10967.
Tech Mahindra has bagged Satyam for Rs 58 per share for the controlling stake of 51%. Total amount will be Rs 2889 Cr, pegging the total value of the company at Rs 5,665 crore. In the first stage, Satyam will issue 30.27 crore shares to TechMa, representing 31% of the company's share capital, which will infuse Rs 1,756 crore into the company. In the second stage, Tech Mahindra will have to mandatorily make an open offer to Satyam's existing shareholders for another 20%.
Tech Mahindra's bid is fare at Rs 58 per share, the combined value of its land bank and its campuses comes out to be over Rs 4000 Cr at the given rate. Satyam's last reported annual revenue at Rs 8400 Cr. If we discount it by 50% comes to around Rs4000 Cr. The Final valuation comes to Rs60 per share.
Few calls given in the past
On April 08th
Bartronics @ 95 tgt 105, touched a high of 103.8.
Rel Capital @ 456 tgt 478, touched a high of 494
Punjlyod @ 109.5 tgt 115, touched a high of 119.45
On APril 02nd
Tata Steel, ICICI Bank, RIL, GVK power, Satyam, suzlon. DCB, NTPC all did marvelosusly good. Except PFC.

WE MIGHT SEE SOME CORRECTION.

Indian markets continued it rally. Short trading week helped the markets rally around 4%. Both Sensex and Nifty surged 4%. Some of the stocks made a marvelous recovery. RIIL surged 160%, Jaicorp by 50%. Midcap index was up 6% in the week. Indices open strong but lost its luster in the closing session. As mentioned that the Nifty has resistance at 3400-3450 levels and some correction or profit booking is expected. Somehow Nifty managed to make a high of 3400.
Bse Sensex closed at 10803 up about 60 points after making an intraday high of 10932. Nifty made an intraday high of 3401 and closed down at 3342 nearly flat.
Inflation for the week ended 28th March was at 0.26% as compared to 0.31%. IIP data were also announced today. IIP for Feb has come in at -ve 1.2% against 9.5% year on year. But still our markets rallied, coz the numbers were better then the expections. Market men expected -ve 1.86%.

==>> Hammer pattern in the Nifty chart suggest some profit booking

Markets opened up week. BSE sensex was down nearly 325 points and Nifty down by more than 100 points. But the Indices surged gradually in the mid session to trade in the +ve zone. but made agood recovery in the closing session. Sensex zoomed more than 200 points and closed above 10700 mark at 10742. Nifty rallied nearly 2.65% to close at 3281 after making a intraday low of 3149 in the early trades. In the my last 2 blogs I had been clearly telling partial profits should be done and the same can be bought at the lower levels, and the Nifty can fall down till 3150-3050 levels. Those who had sold on Monday morning, they might have taken the position today in the mid sesssion. I had given some buy calls
1) 3.29 PM BUY BARTRONICS ABOVE 95-98-100.75-105
2) 3.06 PM Rel capital close above 456 tgt 462-478, breakout pattern
3) 2.52 PM PUNJLYOD CLOSE ABOVE 115, IT’S A BREAKOUT.. TGT 119.7-127……..
4) 2.19 PM BUY PUNJ LYOD ABOVE 109.5 TGT 111-115
5) 1.38 PM Rel capital looks good only above 431, tgt 438-445 SL 427.5, cmp 429....
Today's Nifty pattern made a Hammer pattern in the chart. But the same is made on in the uptrend, the confirmation of this will be seen tom. According to me as i have mentioned earlier that profit booking should be there. Few days back i had given BUY call on DCB, keep an eye on that. REL ENergy looks good. This movement can take the Nifty till 3500 levels also. but profit booking should start from 3450 odd levels.

==>> Some profit booking advised

Markets opened up strongly and continued its upward move. Nifty continued to make its new high in the recent past. Nifty made a new high of 3303, and but closed at 3256. Sensex closed at 10534. Sensex chart shows that we might see some profit booking or some correction in the coming days. In my last blog on Tuesday i have mentioned that we might see correction , but that was failed, but major of the frontline stocks lost their lusture and were trading below their previous close. As such, current weekd has very less trading days, so buyers wont prefer taking much delivery positions. Global markets have also rallied quite a bit in the last few trading sessions. There should be some correction before the markets can make a new high. My view is still not turned -ve, but some correction and some profit booking is necessary.
Nifty still has resistance levels at 3313-3330-3345. Support at 3115- 3050.

==>> Book part profits...

Markets might open with a positive note. It may again create a gap in the chart. Indices may come down to fill up the gaps. We might see some corretion in the mid session. It is advisable to book profits in the early session. 3250 in Nifty is a very big resistance level. 2 days close above the same can take the Nifty to 3400 levels, But that seems to be not easy. Remember to book profits, we might get the same at the lower levels. Markets will not go down heavily as the market for the termprory phase are in the hands of the bulls, and technically looks very good. Booking part profits is alwyas advisable.

==>> Nifty close above 3200 after 6 long months.

Oh WOW, what a week this had been. Bulls took full control of the market. Forced the Bears to cut of their short positions. Nifty had not seen in 6 months, its close above 3200 levels. Markets opened up strongly rallied and closed almost at the high. Nifty for the week has closed at 3211 up almost 5% or 150 points after making a high of 3228. Sensex also settled above its psychological mark of 10000. It closed at 10348, up nearly 4.50% or 447 points above its previous close. It made a Intraday high of 10432. Accept Hindlever and Herohonda contributed in the rally and took the indices above its resistance levels. Nifty still has a big resistance level of 3200, as everyone know it. Book profits at around 3250 levels. US indices futures were also positive while our markets were closing. There were good buying seen even in the mid cap stocks. Volumes for the week was also good. In the week I had given some BUY calls on 02/04 Tata @ 210, ICICI Bank @ 350. On 01/04 Rel capital @355, SBI @ 1037, ICICI Bank @ 324, RIL @ 1503, Satym ( still at the same prices). On 31/03 ICICI Bank @ 321. On 26/03, GVK Power @ 20.5, DCB @ 18.85, Suzlon @ 45. We can see the stock prices surging, to outperform the Indices.
Relcapital is facing resistance at 421 levels. Expect fire works above 421 close. Axis bank above 445. Suzlon above 50.80. PFC above 145. NTPC above 185. TataPower looks good @ 848-868-879. The International Monetary Fund (IMF) is sitting on nearly $95bn of Gold, and it has been authorised by the G-20 leaders to sell gold to assist poor countries. This wiill definately lead to correction in the gold prices. Gold had a cood support at $913, its already trading below that.

==>> April BULL's Day

Bulls might have definately enjoyed the April Fools Day. In the early session market opened marginally up, then immediately sinked in the negative zone. Sensex made a low of 9546 and the recoverd to make a high of 9921 surged nearly 2% or 193 points. Nifty closed nearly at its high level. Nifty settled at 3065 after making a low of 2965 in the early trading session. Bulls are really trying hard to close above the long term trendline. In the past 4 days Nifty is trading near the trendline, but not closing above the same. In the morning i had give some BUY calls. Relcapital @ 355 the last tgt was 385, it made a high of 392. RIL ind @ 1503, made a high of 1589. ICICI Bank @ 325 made a high of 354. SBI Bank @ 1037 tgt was 1085, made a high of 1079.9, NIFTY BUY CALL WAS ALSO GIVEN IN THE MORNING....... on my yahoo id vishal_retail@yahoo.co.in and also on mails. On 26th march i had given call on Suzlon @ 45, DCB @ 18.85 and GVK Pil @ 20.5.
Akruti is still in lower circuit. There are hardly any buyers in the counter. I think so that the circuit may open at 550-600 levels as the promoters has raised money on equity shares at the same levels. There was good buying in the mid cap stocks. In the past few sessions the volumes have been pretty good in the markets.
In the last 3-4 blogs I have been contiosly writting that the Nifty chart shows a breakout, and it has the potential to go till 2970-3050-3125 -3240. Nifty has a big resistance at 3125-3150 levels.
Trading Opprtunity-Tata Steel BUY above 210-214-217-222 with SL 208. SELL below 208-203-200-196.ICICI Bk above 350-356-363 with SL 346. SELL below 346-342-334.