Market Review for 14th July 2016

Nifty (8520) we said ‘uptrend still intact and crucial support is at 8400’ the market opened with a bull gap and traded lower to close flat for the day…technically the trend is still intact but stretched and has very strong resistance at 8578 and if it continues its journey up then I would extend the target to 8628 again a very stiff resistance…the first sign of weakness would be the breach of 8480…    

The support for the Nifty is at 8480-8400 and the resistance is at 8578-8628

VEDANTA

VEDANTA ...Our Targets were 146--157 Yes ,157 is A STRONG RESISTANCE 3 Consecutive close + weekly above 157 ,next target 190-201

RED ALERT

RED ALERT -Horn Pattern on chart + 89th Trading session from low of 6835 NF at 8475...Stop of 8540-8550..sell Buy pe of 8500 at 106

TECHNICAL OUTLOOK 11-7-16

TECHNICAL OUTLOOK

SCRIP	CLOSE	SUPPORT	RESISTANCE	OUTLOOK
NIFTY	8323.20	8271 8220 8158	8368 8405 8458	STRONG RESISTANCE AROUND 8405.
BANK NIFTY	18016.25	17880 17690 17470	18290 18550 18885	EXPECT STRONG RESISTANCE AROUND 18290.
ITC	245.85	241 237 235	250 253 257	SELL ON RALLY.
REL INFRA	562.50	555 531 519	576 588 603	MILDLY BULLISH.
VEDL	143.10	139 134 131	147 150 155	MILDLY BULLISH.
TCS	2426.60	2408 2378 2345	2444 2465 2505	SELL ON RALLY.
SAIL	46.65	45 43 42	48 49 51	MILDLY BULLISH.
SBI	218.30	216 213 208	223 226 230	MILDLY BULLISH.
DLF	154.60	151 145 139	158 163 168	MILDLY BULLISH.
INFOSYS	1158.20	1143 1127 1103	1189 1205 1222	SELL ON RALLY.
TATA MOTORS	466.30	457 448 437	475 483 492	SELL ON RALLY.
BHEL	137.90	134 129 126	142 146 148	SELL ON RALLY.
TATA STEEL	318.35	310 302 294	326 337 346	SELL ON RALLY.
WOCKPHARMA	950.90	947 926 908	965 977 999	SELL ON RALLY.
ONGC	223.30	219 214 211	227 231 237	SELL ON RALLY.
ICICIBANK	242.20	239 235 228	246 249 253	SELL ON RALLY.
RELCAPITAL	403.45	392 381 369	418 430 437	SELL ON RALLY.
RELIANCE	978.40	970 953 941	990 1008 1023	SELL ON RALLY.
HDIL	105.25	102 100 97	102 105 109	MILDLY BULLISH
MARUTI	4161.80	4120 4085 4039	4178 4200 4240	SELL ON RALLY.
HINDALCO	126.85	123 119 117	130 132 137	MILDLY BULLISH.
ACC	1597.65	1575 1537 1509	1637 1660 1690	MILDLY BULLISH.
LT	1532.65	1538 1519 1488	1555 1599 1620	MILDLY BULLISH.

pick of the day

11-Jul-2016

PICK OF THE DAY	TARGET 1	TARGET 2	STOP LOSS
BUY SNOWMAN AT 87	91	93	85
FUTURES
BUY DRREDDY FUT AT 3550	3590	3610	3535

Paul Tudor Jones :12 Quotes (Must Read Every Day )

1. “The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.”
2. “Intellectual capital will always trump financial capital.”
3. “Every day I assume every position I have is wrong.”
4. “Losers average losers.”
5. “You adapt, evolve, compete or die.”
6. “Trading is very competitive and you have to be able to handle getting your butt kicked.”
7. “The whole world is simply nothing more than a flow chart for capital.”
8. “At the end of the day, the most important thing is how good are you at risk control.”
9. “Always think of your entry point as last night’s close.”
10. “I will keep cutting my position size down as I have losing trades. When I am trading poorly, I keep reducing my position size. That way, I will be trading my smallest position size when my trading is worst.”
11. “Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead.”
12. “Markets trend only about 15 percent of the time; the rest of the time they move sideways.”

Market Review for 7th July 2016

Nifty (8336) we said “technically the trend is still intact up and the next logical target in the days to come still is 8440 and I would not be surprised if Nifty pauses here as it has run up to fast…8300 & 8240 is a crucial support to work with’ the market unfolded as expected and went into a pause mode and closing in the red…technically I would maintain that 8280-8240 still is a possibility in an uptrend

The support for the Nifty is at 8300-8240 and the resistance is at 8400-8447