THIS SHOWS THAT THE MARKET IS SHOWING STOCK SPECIFIC ACTION MEAN 50% STOCKS ARE ABOVE 50 DAY MOVING AVERAGE WHILE 50 % STOCKS ARE BELOW 50 DAY MOVING AVERAGE WHICH INDICATES THAT NIFTY IS MOVING AND SHALL MOVE IN VERY NARROW RANGE AS PER STOCK SPECIFIC ACTION.
It seems that nifty has developed a new trend as shown in the new channel which is targeting to 5600 atleast and also given level for nifty in previous week of 5450 - 5612 levels and during this week nifty shall proceed to make new high and the swing stoploss still remain at 5350 - 5360 But it shall be a surprise if nifty shall make a new high after making a lower low for a downtrend to continue it should make lower high but only if nifty shall make higher high the trend is said to be up according to dow theory and if we look at the previous week chart it is shown that every time when nifty has breached the trend line it has given a correction of 300 - 500 pts atleast and this time also nifty has broken the main trend line so it will also be adviseable to book your profits above 5500 levels and buy only if nifty closes above prevous high so to remain cautious is must as major support and major trend lines are broken and also since last few trading session nifty is not able to sustain above 5500 . But trade what you see is the rule so as nifty has close above 5450 levels and maintianing above it one should buy for upward momentum but the rule says cautious and to close above 5550 for nifty shall be supply zone so better book profits and wait for trend to be change or make higher high
It would be more profitable to buy with stoploss of 5450 closing for the week for higher target and to short below 5450 levels for lower targets as 5450 remains our SAR FOR THE WEEK so just take position as per SAR it will be more profitable all the time as SAR is said to be the point from where nifty could reverse the trend
LEVELS FOR THE WEEKbreakout above 5510 levels
breakdown below 5450 levels
Dear
ReplyDeleteMihir Ji
we dont know each other but i follow your work from past 10 months first through VFM direct.com.I first made money through your call at VFM on APPOLO TYRES dated 03-04-10.Earlier i dont belive in TA but than i realised it is also an another world of knowledge and it works.I still hold this stock from Rs 62.
I got the courage to write you and respect more for you and TA when yesterday credit suise comeout with the target of Rs 108 which you had allready given on the above said date. So please continue your good work and guide we newcommers so that we can play safe.
Sir if there is some updates and new targets kindly poast the charts of Apollo TYres at your or VFM sites.Looking forward for your replying mail.
Regards
PRATEEK DAFTARI
prateek
i request you to accumulate this stock on decline and have longer term view for targets above 250 as auto sales of this year are giving consistant higher sales which can benefit directly to the auto company and tyre companys so it is hold for longer term target.
Auto Sales number for the month of August 2010 has come out today and all the company have hit the all time new high yet another time previous month .
ReplyDeleteMaruti Suzuki
Maruti Suzuki India rose 1.29% as total vehicle sales grew 23.6% to 1.04 lakh in August 2010 over August 2009. This is the highest ever monthly sales recorded by the company.
TVS Motor Company
TVS Motor Company rose 2.78% as total vehicle sales in August rose 34% to 170,735 units in August 2010 over August 2009. Total two wheeler sales grew 32% in August with sales of 1.67 lakh units in August 2010 over August 2009. Three-wheeler sales surged to 3,626 units, from 1,033 units in August 2009.
Bajaj Auto
Bajaj Auto is likely to announce its numbers tomorrow but sources say that the company is likely to post bike sales of 2.9 lakh units in August, again, the highest ever monthly sales. The sale of Pulsar is learnt to be at 83000 units for August while Discover sales are at 1.27 lakh units.
Hero Honda
Hero Honda reported a rise of 2.3% in its sales at 4.24 lakh units in August 2010 over August 2009.