==>> Nifty may bounce back

11:27:06 AM vishal_retail: Nifty is finding a good support at 4925-4900 levels. Nifty may bounce back

==>>BANGGGG

Finally, we are again at 5000 levels. Today Nifty after touching a high of 5087 in the early trades, showed good strength till the inflation figures were announced. Inflation was almost flat at 7.61%. That was not the only reason to drag the markets down. RIL was down almost 5%. Inflation is rising higher and higher. To control this, CRR might be hiked or intrest rate will be increased, stay away from the banking stocks.

Nifty closed at 4982.60 after touching a new low of 4969.4. Nifty always found a good support at 4970 levels. Nifty fell down 2 % but that did not stop some of the scripts to reach their targets. Nifty close below 4970-4950, it can dip till 4800 levels, but it seems so it is not possible, as there is no great news to pull the Nifty down till so much.

Buy and sell call for RIL was given with the upper and the lower break out prices. RIL could not manage to rally upside, but did pretty well sliding down. Another call was for PSTL, BUY above 383 tgt 390-398-415, managed to touch 399. Tata steel missed the target by Re.1; call was given on 06th May.

Read some article about the Indian markets in the leading news paper. They mentioned that there will be a good rally in the Indian market. But still argued and stood by the words. At the all time high also these guys mentioned that the Sensex will touch 23000 and Nifty 6500. and you may have definitely seen the effect………….

Always keep in mind, DON’T MARRY THE STOCKS. If the markets are bad then say it is ‘BAD’. Don’t try to make it good by just saying ‘GOOD’

==>> BANGS ALL THE TGT

BANG
RIL BANGS MY TGT OF 2565, NIFTY HITS A NEW LOW OF 5006.
TRADERS CAN START BUYING IN SMALL QTY. MAXIMUM THE NIFTY CAN GO UPTO 4950.

==>> Reliance & PSTL

RELIANCE. good support at 2647.5. target of 2710. cmp 2660... Break out below 2647 tgt 2620- 2600-2580-2565.

PSTL looks good above 383-390-398-415 cmp 384

==>> BE THE 1st TO BE INFORMED.....

As mentioned yesterday, Nifty good support is at 5070. It made a low of 5062 but the close is above 5070. If the Nifty trades for sometime below 5070, then likely target is 5030-5007. Inflation will be almost flat this week. If at all its high then the correction is already factored in since last 2 days. World markets are almost flat, but the situation in the US is still bad and can worsen also. Nifty is down 240 points from the recent high.

BE THE FIRST TO BE INFORMED. I am proud to say that I have informed my viewers well in advance about the correction in Indian markets. First information was given on Wednesday 30th April, and finally on Monday 05th May.

Nifty fell down more then 1%, But that could not stop TATA STEEL to touch my target of 849 yesterday.

Steel companies are arguing for the price decline. Some of the commodities face a ban on the future trades. Dollar is getting stronger as compared to Rupee. Re’s 3-day plunge biggest in 12 yrs.

==>> Nifty good support at 5070

BUY Nifty cmp 5094 with the SL of 5065 spot NIFTY. NIFTY good support at 5070. If this breaks then possibility of touching 5000 very soon. Tata steel and RIL may give a good support. IT will be week as the ruppee is gettin more stonger

==>> Third consecutive -ve close

Finally the bulls have taken some breath. Markets have started correcting a bit. In the last 3 days Nifty is down nearly 200 points from the top which it made on friday last week. But the fall is not that severe. Last 3 days mkts are making fresh bottom, from the recent top. Nifty in the last 2 days have given a close below the major resistance level 5150. For the futher up trend the Nifty need to close above 5200 levels.

Tata stel pretty good yesterday, touched high of 839, but fell on the news that the steel makers have to cut on the prices. Today again, we may see some correction on back of bad sentiment in the world markets. Traders are adviced not to take any positions before the makets stabilizes. In the late hours we may see some pull back. But the question is that, will this pull back stay???

Crude made a new high on 123.75. BUY relaince capital near 1400 with the SL of 1391 tgt 1505 CMP 1452. SELL NTPC tgt 185-182 SL 196.5 CMP 192.75

==>> Even the bulls need a break.

So today bulls stood aside and watched the market fall. Nifty close is below 38.2% retracement level & 200 DMA. 5200 levels have always been a very good support for Nifty. Yesterday I have clearly mentioned that the Nifty close below 5150 is bad. But luckily to give the breather, Nifty bottomed out at 5110 and closed above at 5151.90.
Two of the Leading news paper, yesterday had an article stating that the markets are in a good trend and the uptrend will continue till 5500 levels. But to achieve the mentioned target, event the bulls need some rest. Identifying that intervals, really helps in minting money. Nifty is already down 200 points from the recent high of 5298.85 made on 02nd May and the low of 5110 which it made today.
Still there is some more steam left, don’t buy now, wait for the perfect indication. Yesterdays all indicators were for negative trend or temporary hault in the rally.

In my past blogs, I have mentioned that, in the correction IT stocks will do good. Same thing u might have seen today. Infosys which was down -2.5%, gave sudden pull back in the late hours and the close was above +2%. Smart recovery in all the IT stocks.

Tata stell close above 825 will continue the rally till 849-858.

==>> We might see some correction

Nifty has bounced back from the low of 4468 made on 18th March 2008 to 5298 on 02nd May 2008. Nifty as per the Fibonacci theory from the highest and the lowest level made in Jan, 23.6% retracement level is at 4900 and the 38.2% retracement level is at 5172. Today also Nifty made a low of 5182.60.
In the chart the point 1. shows a clear breakout in the Nifty chart at 4700 and indicates the sure up-trend till 4950. Point 2. a Japanese candle stick pattern which indicates a temporary hault in the rally, but it is well above the 32.6% retracement level. Point 3. indiactes the RSI is heading towards the over bought zone, as the same way it touched in month of Jan. and in the future also. Nifty will face a good resistance at 5320-5400. As i have mentioned that the Nifty can touch 5400 levels. I still stand on my words, but it will not be that easy.
We will see some correction or some consolidation, Nifty can come down till 5000 levels, if it closes below 5150.

==>> 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