SAI KRIPA STOCK MARKET AND MCX FROM VIKAS P SAMWATSARE

Weekend Call - Buy ADITYA BIRLA NUVO for target of 811 with stop loss of 729 . . . . . . . . Comments - From the top of 930 scrip started coming down forming lower tops & lower bottoms & formed bottom at 735 levels. At 774 levels (21/12/11) stochastic has started giving positive divergence from oversold zone, crossing it’s moving average at 7.80 levels & closed at 10.04 levels. On Thursday when scrip has formed new low at 748.75 stochastic quoting at 11.02 & on Friday at 14.90 indicating possible reversal from current level. Now on Monday on lower side if scrip is not breaking it’s double bottom formed on Thursday & Friday at 735 & 738 levels respectively & crosses it’s Friday’s high of 764 then it may go up to 811 levels which is 10 day’s moving average as well as 38% retracement resistance of the fall from 930 to 735.

 

Weekend Call - Sell HINDLACO for target of 112 - 103 with stop loss of 128 . . . . . . . . . . Comments - After forming top at 140 level scrip is moving with in falling channel forming lower tops & lower bottoms. Upper band of this channel resistance comes to 126 & lower support at 112. Right now scrip is quoting near to it’s upper band channel resistance. At 123 level it has given downward breakout of it’s rising trendline, indicates weakness in the scrip. From here near term possible target comes to 112 – 103.

Weekend Call - Sell HDFC for target 633 - 628 with stop loss of 670. (Below 628 may come down to 602) . . . . . . .. . . .Comments - In daily chart scrip is moving with in falling channel. Upper resistance of this comes to 666 & lower support at 600. Right now scrip is quoting near to it’s major upper channel resistance & all indicators are quoting in over bought zone. After a substantial rise from the bottom of 600 (B3), on Friday scrip made top of 666(T3) i.e. near to it’s major channel resistance as well as 200 DMA & closed at 660 forming bearish hanging man pattern at top, indicates possible fall. Now on Monday if scrip is not crosses it’s major channel resistance of 666 & breaks it’s immediate support of 651 then it may come down to 633 – 628 levels. Below 628 again it may come down to touch it’s lower band of channel support at 602.

Weekend Call - Sell AXIS BANK for target of 810 with stop loss of 905. (If close below 810 then possible target come to 710) . . . . . . . . . . Comments - After giving double top downward breakout at 910, scrip made a low of 810 achieving target of right top T2) & gave around 36% pull back rally of the fall from 1052 to 810, making top of 895 near to it’s trendline resistance & closed at 878. Now on upper side it has immediate trendline as well DMA resistance at 901 levels. On Monday if it is not crossing it’s upper resistance level of 901 & breaking it’s Friday’s low of 866 then it may come down to 810 (B3) levels. On lower side if it closes below 810 (B3) then it will continue it’s lower tops lower bottoms formation & may go further down to form new lower bottom around 710 which is the target price of it’s 1st top T1.