Technical View :: NIFTY
Nifty’s next levels of resistance are 6013/6038/6161. In the week just gone by all our previous forecast targets are fully achieved. Nifty has attempted to go past 5900 levels. However, could not close above 5900 indicating that (evident from nifty weekly charts) it is likely to correct before making any fresh move to the upside. Action packed week ahead with couple of major announcements (Fed tapering and RBI Policy) lined up may cause some kind of tantrum or jubilation (with new RBI governor action plan and BJP Prime Ministerial candidate announcement) in the domestic markets may drive the market to upside in contrary to NIFTY’s weekly down trend for a while.
P.S., News is always short lived it is a kind of friction to the trend never ever try to blend news with the trend else you may be stopped out without your targets are fully achieved.
Below is the forecast for the list of Indices and Stocks for the upcoming week(Sept 16th -20th 2013 week) :-
Risk/Reward ratio for the below may look little wide due to high impact news round the corner we need to ensure that we are not stopped out without our targets been hit.
Do remember to move your Initial Stop Loss (ISL) to first target as soon as you are in money to lock minimum profits.
Index/Stock
|
Action
|
CMP
|
Target(s)
|
Stop Loss
|
Review Comments | Result |
NIFTY SPOT
|
SELL
|
5850.16
|
5823/5792/5778/5735
|
6070
|
nifty made a low of 5798.15 before moving up | 1st Target Achieved |
BANKNFITY SPOT
|
SELL
|
10181
|
10108/10080/10017
|
10548
|
SL Triggered | SL Triggered |
TCS EQ
|
SELL
|
1953.75
|
1941/1937/1927
|
2156
|
tcs made a low of 1894.50 | All the Targets are Achieved |
INFOSYS EQ
|
SELL
|
3028.05
|
2998/2987/2961/2941
|
3326
|
made a low of 2980.15 | First 2 targets are achieved |
TATA MOTORS EQ
|
SELL
|
334.05
|
329/326/321
|
367.15
|
made a low of 324.85 | First 2 targets are achieved |
TATA STEEL EQ
|
SELL
|
298.30
|
294/292/288/285
|
332.60
|
made a low of 284.90 | All the Targets are Achieved |
SBI EQ
|
SELL
|
1661.10
|
1643/1637/1621/1609
|
1721.50
|
made a low of 1627.20 | 3 Targets are achieved |
ITC EQ
|
SELL
|
331.40
|
328/326/323.80
|
352.70
|
SL Triggered | SL Triggered |
RELIANCE EQ
|
SELL
|
873
|
867.20/864.80/859.75
|
915
|
made a low of 852.60 | All the Targets are Achieved |
RELCAP EQ
|
SELL
|
346
|
342.40/340.90/337.75
|
371
|
made a low of 326.40 | All the Targets are Achieved |
AXIS BANK EQ
|
SELL
|
1059.60
|
1042.40/1036/1021
|
1086.80
|
SL Triggered | SL Triggered |
ASIAN PAINTS EQ
|
SELL
|
442.35
|
438.45/436.85/433.45
|
465.65
|
made a low of 436.50 | 3 targets are fully achieved |
RANBAXY EQ
|
SELL
|
457.20
|
452.20/450.25/445.85/442.3
|
485.20
|
made a low of 296 | All the Targets are fully achieved |
SIEMENS EQ
|
SELL
|
479.40
|
458.60/450.15/432/417.4
|
582.80
|
made a low of 436.50 | 3 Targets are achieved |
ULTRATECH EQ
|
SELL
|
1720.85
|
1683/1668/1635
|
1966
|
made a low of 1633.95 | All the targets are fully achieved |
BHARTI AIRTEL EQ
|
SELL
|
325.75
|
319.90/317.50/312.40
|
365.20
|
Neither the target nor sl triggered | No Result |
BAJAJ AUTO EQ
|
BUY
|
2003.40
|
2026/2040/2051/2062
|
1780
|
made a high of 2062.45 | All the Targets are fully achieved |
COAL INDIA EQ
|
BUY
|
293
|
297/300.25/302.50/304.75
|
266.75
|
made a high of 305 | All the Targets are Achieved |
CROMPTON EQ
|
BUY
|
90.90
|
92.30/93.20/93.90/94.60
|
72.95
|
made high of 99.05 | All the targets are fully achieved |
DLF EQ
|
BUY
|
156.85
|
161/163.50/165.65/167.70
|
126.05
|
made a high of 173.90 | All the targets are fully achieved |
FOURSOFT EQ
|
SELL
|
30.05
|
25.70
|
36.15
|
made a low of 26.50 | Target is achieved partially |
JETAIRWAYS EQ
|
BUY
|
376.45
|
383/387.75/391.25/394.75
|
338.60
|
made a high of 382.25 neither target ishit nor sl is triggered | No Result |
KOTAK BANK EQ
|
SELL
|
716
|
709.65/707.10/701.65/697.1
|
736.70
|
made a low of 697 | All the targets are achieved |
L&T EQ
|
BUY
|
836.40
|
847/852/862/870.9/879
|
755
|
made a high of 898.65 | All the targets are fully achieved |
MARUTI EQ
|
SELL
|
1315.90
|
1301/1295/1282/1272
|
1402.60
|
SL Triggered | SL Triggered |
NMDC EQ
|
BUY
|
124.75
|
126.30/128.20/129.3/130.35
|
103.75
|
made a high of 127 | First Target Achieved |
SAIL EQ
|
SELL
|
49.20
|
48.35/48/47.30/46.65
|
53.35
|
made a low of 47.10 | 3 Targets are fully achieved |
HDFC EQ
|
SELL
|
807.95
|
799/797/789/784
|
838.80
|
made a low of 780 | All the targets are fully achieved |
HDFC BANK EQ
|
SELL
|
629.20
|
623.90/621.75/617.15/613.4
|
663.80
|
SL Triggered | SL Triggered |
CENTURY TEXT EQ
|
SELL
|
244.85
|
241.30/239.80/236.75
|
261.60
|
made a low 236.35 | All the targets are fully achieved |
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