Is this a trend reversal or a mere correction??
On 5-11-2013 senxes was successful in testing its life time high but nifty failed to do so.
And from the very next day of Murath nifty started its correction . And it lasted for 4 days in a row .
Which has put much into the dilemma, whether it is a correction or the main trend has reversed .
We have come up with observation on nifty
on 29-Jan -2013 high 6111.80 low made 5477 10 april -2013
on 20-may-2013 high 6229.45 low made 5118. 28- aug 2013
on3- nov 2013 high 6332 .
From the above observation we can see there is 100-120 point addition to its new top and correction comes much deeper than previous one and if it holds true we may see 5000-4900 buy December 2013 or by feb 2014.
Note :- the above mention level is an observation and is not backed by any technical’s parameter and just a probability . we do not recommend to sell nifty on the basis of observation.
But we can see distribution pattern developing on nifty , bounce from 6100 is not ruled out .we recommend to wait for more correction till 5900-5880 area to buy the stocks from investment point of view.6317 is a crucial resistance area above which fresh buying can be witnessed.
Even though nifty is in correction mode there are many stocks which is giving positive break outs , we recommend our readers to focus on Reality, Power , Capital good s, Tyre and Chemical sector .
So for this week (Spot level)
Range for nifty 6295 -6031
Currently nifty is in no trade zone for fresh trader.
1.one can buy nifty near 6104-6075 area with the sl of 6031 fo the tgt of 6199-6237-6275
2.one can also buy if on Monday nifty goes above 6189 with the sl of 6120 tgt 6209-6237
3.one can sell near 6290 sl 6317 tgt 6255-6214-6200 and trail below 6195
stocks for the week (spot level)
A.SBI
Range for sbi 1880-1695
Risky trader can buy at or above 1763 with the stop loss of 1729 and safe trader enter above 1770 with the sl of 1745 for the target of 1798-1823. Below 1723 sell with the sl of 1750 tgt 1697.
B.Tata motors
Range for tata motors 405-365
One can buy with the sl of 373 for the tgt of 391-398-403 , close above 405 may take it to 423 level . close below 373 will make it weaker , so one can sell below 470 sl 478 tgt 465-463-459.
C.BHEL
Range for bhel 150-128
We recommend to buy on dip till 129 with the sl of 126 for the tgt of 144-150.
D.NTPC
Range for 143 -160
We recommend to buy on dip till 144 and use stop loss of 142 on closing basis for the tgt of 159. It will give massive breakout if it close above 165 then it may test 200 level.
On 5-11-2013 senxes was successful in testing its life time high but nifty failed to do so.
And from the very next day of Murath nifty started its correction . And it lasted for 4 days in a row .
Which has put much into the dilemma, whether it is a correction or the main trend has reversed .
We have come up with observation on nifty
on 29-Jan -2013 high 6111.80 low made 5477 10 april -2013
on 20-may-2013 high 6229.45 low made 5118. 28- aug 2013
on3- nov 2013 high 6332 .
From the above observation we can see there is 100-120 point addition to its new top and correction comes much deeper than previous one and if it holds true we may see 5000-4900 buy December 2013 or by feb 2014.
Note :- the above mention level is an observation and is not backed by any technical’s parameter and just a probability . we do not recommend to sell nifty on the basis of observation.
But we can see distribution pattern developing on nifty , bounce from 6100 is not ruled out .we recommend to wait for more correction till 5900-5880 area to buy the stocks from investment point of view.6317 is a crucial resistance area above which fresh buying can be witnessed.
Even though nifty is in correction mode there are many stocks which is giving positive break outs , we recommend our readers to focus on Reality, Power , Capital good s, Tyre and Chemical sector .
So for this week (Spot level)
Range for nifty 6295 -6031
Currently nifty is in no trade zone for fresh trader.
1.one can buy nifty near 6104-6075 area with the sl of 6031 fo the tgt of 6199-6237-6275
2.one can also buy if on Monday nifty goes above 6189 with the sl of 6120 tgt 6209-6237
3.one can sell near 6290 sl 6317 tgt 6255-6214-6200 and trail below 6195
stocks for the week (spot level)
A.SBI
Range for sbi 1880-1695
Risky trader can buy at or above 1763 with the stop loss of 1729 and safe trader enter above 1770 with the sl of 1745 for the target of 1798-1823. Below 1723 sell with the sl of 1750 tgt 1697.
B.Tata motors
Range for tata motors 405-365
One can buy with the sl of 373 for the tgt of 391-398-403 , close above 405 may take it to 423 level . close below 373 will make it weaker , so one can sell below 470 sl 478 tgt 465-463-459.
C.BHEL
Range for bhel 150-128
We recommend to buy on dip till 129 with the sl of 126 for the tgt of 144-150.
D.NTPC
Range for 143 -160
We recommend to buy on dip till 144 and use stop loss of 142 on closing basis for the tgt of 159. It will give massive breakout if it close above 165 then it may test 200 level.
