7th October 2014

[lakshmi]

Deepak's Gann Gyan :

This week Nifty was expected to do either of these:

a) correction to continues ( with Monday reversal after a pop ) into a low by 8-9/Oct with target of 7830/40 OR 7750/70 with a swing rally for 3-4 days from 8-9/Oct to 13/Oct. Range for nifty likely to remain inside 200 pts till 13/Oct. (7840/50 and 8030/50)

b) Nifty moves up into a high by Wednesday with target of 8030-70 and then correction resumes with a Wednesday reversal into a low by 8-9/Oct.

Price action was in line with (b), with Nifty rallying to 8031 in the target zone of 8030-70 expected, with the turn being one day ahead.

Oct Pivots:

2/Oct, 7/Oct 9/Oct-, 13/Oct-, 21-22/Oct-, 27-28/Oct

For next week since there is a potential inversion price action could be either of these:

(a) would look at a dip in the dip to 7790-7810 or 7840-50 by either 8-9/Oct before a smallish pull back of about 100-120 points into a high by 13/Oct. would expect next pull back to post a lower top around 7900-20 or 7940-60.

(b) dip into a low by 7/Oct to about 7850-60 , one day pull back of 60-80 points and decline into a low by 13/14 Oct with a target of either 7790-7810 or 7750-70

Would expect range for the month of October to be between 7950/80 and 7600/50.

Trend is expected to remain corrective till Mid November and price action so far is in line with this forecast.

[lsgrao1959]

My System Calls:
Position as per Trade with Trend :

1) Levels to watch are 8005.42 and 7961.88
2) Sell Below 7951.17 SL 7982.17 TGT 7921.51, 7896.51
3) Buy Above 8013.17 SL 7982.17 TGT 8033.58, 8052.16
4) Supports/Resistances to Watch For :-
7921.51
7946.48
7965.06
7990.03
8008.61
8033.58
8052.16
Camarilla Calls:
1) Sell Below 7959.7 SL 7971.67 TGT 7944.45
2) Sell Below 7995.63 SL 8007.6 TGT 7987.64, 7979.66, 7971.67
3) Buy Above 7971.67 SL 7959.7 TGT 7979.66, 7987.64, 7995.63
4) Buy Above 8007.6 SL 7995.63 TGT 8031.55, 8042

Nifty Options Data:
Highest OI : NIFTY7800PE NIFTY8200CE
Highest Rise in OI : NIFTY7500PE NIFTY8100CE
Highest Fall in OI : NIFTY7900PE NIFTY8200CE
Highest Volume : NIFTY7900PE NIFTY8100CE

Long Build Up: CNXIT, BATAINDIA, M&MFIN, HEROMOTOCO, SAIL
Short Covering: SUNTV, WIPRO, PFC, UNIONBANK, JUSTDIAL

Short Build Up: MINDTREE, SRTRANSFIN, GLENMARK, IGL, COLPAL
Long Unwinding: BPCL, IDFC, CIPLA, SYNDIBANK, BHARTIARTL

Volume Shockers (Futures) :
NIL

Swing Trading (Futures):
1. MARUTI Sell Below 2994.99

5 Best Performing Stocks since Expiry:
GAMMNINFRA, RELIGARE, GHCL, SHRENUJ, BERGEPAINT

5 Worst Performing Stocks since Expiry:
BLKASHYAP, RAJESHEXPO, SUZLON, STERLINBIO, AFTEK

[lsgrao1959]

WAVE ANALYSTS VIEW
Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day actual trading between 7936-7976

Conclusions from intra day chart analysis

[lsgrao1959]

Tata Motors, Bank of India, Axis Bank, Reliance Capital, Union Bank, Canara Bank, Steel Authority, India Cement, Liberty Shoes, HOV Services etc. have given “Upward Bar Reversal”
Maruti Suzuki, Dr reddy, Cipla, NTPC, LIC Housing Finance, BPCL, Ranbaxy, Colgate, Mindtree, Titan Ind. etc have given “Downward Bar Reversal”
Stocks like HOV Services, Helios Mathinfitech, Gammon Infra, Balrampur Chini, Meghmani Organics, MT Educare, IVRCL Infra, Berger Paints, Alok Ind., Suzlon Energy have shown spurt during the day with unusually high volumes.

A/D data is concerned it was in favor of bears in the ratio of 3:2 with 604 advances and 921 declines during the day.

[lsgrao1959]

ASTRO VIEW
On Tuesday October 07, 2014, Ketu, Venus and Jupiter will have a role to play at Dalal Street. Markets reopen after a long holiday of five days. Today astro indicators indicate markets moving in line with global clues. Even though we may have a positive start, but the market upbeat now is on the bearish side, hence any positivity will lead to sell on rise. Spot nifty breaching the crucial resistance level and closing above the crucial resistance level will invite short covering.

[lsgrao1959]

I will prefer to look forward for Leather, paper, pharmaceuticals etc. I will like to be watchful for PSUs.
Tyres, two wheelers with agriculture related products inclusive of agriculture related vehicles may do better.
Mid-caps in IT and export oriented segments may do better. Education and its related segments are better. Communication etc. will also be in better zone.
I will like to be watchful for the day and tomorrow. I will like to pick good and valuable equities at lower levels and discard weak equities.

[lsgrao1959]

As all the Asian markets are trading in Red today and deeper down moves were seen in all the Global markets when Indian markets were closed in last 3 sessions therefore sentiment is depressed today morning and gap down opening . Good consolidation and supports was seen above 7842 was seen on and after 26/09/2014 therefore fresh up moves are still

[lsgrao1959]