Share & Stock Broker
CHARTS FOR THE WEEK 09-07-07 TO 13-07-07
ALL SOFWARE STOCKS SEEMS TO HAVE EITHER BOTTOMED OUT OR ARE VERY CLOSE TO A BOTTOM.
WIPRO
WIPRO LTD-Wkly.10/10/03-06/07/07 N-9 TREND
03 04 A J O 05 A J O 06 A J O 07 A J Price E M A(10) E M A(89) E M A(21)
200 300 400 500 600 547.48 XB XB Volume 10000000 20000000 F 06/07/07 O 515.00 L 492.70 C 519.60 V 20115 V 3925544 R 38.53 M -13.96 547.48 R S I(14,E, 9) 40 60 80 547.48 MACD(12,26,E, 9) -0 25 547.48 H 522.00 E 536.65 R 41.50 M -7.54
This stock has in the past 4 years taken support at the 89 weeks EMA. ( Purple line) . That line is also close to the lower band of the trend line. A weekly close above 536 will confirm the same. With down side limited to 495 levels we expect this stock to outperform the market in the medium term. Stock is in over sold zone and an opportunity to buy
SAME IS THE CASE WITH INFOSYSTCH & TCS.
NIFTY
NIFTY has given the highest daily & weekly close and are showing no signs of a correction as of now. However as we predicted last week that nifty will move up to levels of 4450 plus are coming true. PLEASE DON’T STICK TO THIS POINT. 1 TO 2% HERE & THERE IS ALWAYS POSSIBLE.
Now the big question is what next. ???
WE expect nifty to correct from these levels. It may come down to levels of 4300 & 4200 in the worst case scenario.
Share & Stock Broker LT
The stock may move up in momentum may be to levels of 2700 but every rise should be considered an opportunity to sell. Best buying price is in the range of 1800 to 1900. RELIANCE ENERGY.
The stock should be completely exited around 680 to 720 levels. If it does not move up but instead moves down then the best buying price is around 560 to 580.
IDBI
It remains our top pic. If levels of 115 break it can come down to levels of 105-107. Upside does not seem to have much more steam. Implies we don’t expect it to cross levels of 130 range in the short term.
TATA POWER
Best buy only around 610 ACC
EVERY RISE AN OPPORTUNITY TO SELL. Can move to 1100 but don’t try not to capitalize on this last leg.
Best buy around 900 BAJAJ AUTO
Showing signs of bottoming out. Can bounce to 2233 & if sustains to levels of 2230 to 2460
BHEL
As informed last week has formed a top around 1600. short for 10% fall. CIPLA
Best buy around 204 DR REDDY
A weekly close above 685 essential for it to perform well. GLAXO
A move past 1280 necessary. 1240 to 1250 remains a key support. If moves up can move to 1440
GRASIM
Though has come out of the bear phase still best buying price is around 2600 HDFC
Share & Stock Broker HINDALCO
150 to 155 remains a very good support for the stock. ICICI BANK
Very good close 910 to 940 remains a good price to accumulate the stock. INFOSYSTCH
The stock despite giving a good bounce has not reversed. However a move past or a weekly close above levels of 2040 will bring the stock again in the positive territory. ITC
4th consecutive week for a week on week positive closing. However a weekly close above
levels of 167 can take the stock to 190. M&M
Very good close. Every fall an opportunity to buy this stock. Best buy around 760 . Can move to 875
MARUTI
A daily close above 820 will bring this stock back to the forefront and then it can also move up by 10%
PNB
Best buying price around 485 to 505 RANBAXY
Considering 357 as a base one should buy this stock for a target of 460 . A daily close above 405 will confirm the same.
RCOM
Will top out around 620 so short at those levels. RELIANCE
Has remained in a range of 1650 to 1800 and should continue to do so.
RPL
Should top out around 120-122 levels. SBI
Share & Stock Broker SUZLON
Best buy around 1350 TATA Motors
Last weeks low of 666 is a proved bottom . Can move to levels of 766. TCS
1100 is a very good price to buy IOC
Only a daily close past 465 will imply resumption of up trend MADRAS CEM
Every fall an opportunity to buy the stock. May cool of to levels of 3000 ALFA LAVAL
Around 1000 it’s a very good level to buy AVENTIS
Still a very good stock to buy BAJAJ HIND
Wait for a weekly close above 180 and then just grab this stock. Best buying price is in the range of 155 to 160
BALRAMPURCHINI
Wait for a weekly close above 80 and then same. Best buying price is below 70 Both the above sugar stocks look good
BEML
Best buying price is 1150 to 1225 COLGATE
VERY good close any fall to levels of 365 to 372 is a very attractive rate to buy. IDFC
Share & Stock Broker INDUSIND BANK
The stock a major underperformer since August 2005 has just managed to give a terrific break out. THE MACD is positive on monthly charts after a very long time. i.e. Since October 2005. We expect this stock to move to levels of 80 in medium term and le of 95 in longish term.
vels
old on to this stock
ANTALOON
e around 460
MP 32
AYMOND & SUNDARAM CLAYTON
term charts
pportunity to buy this stock. Considering 23 as a base can move to levels of 35 soon
FROM NAYAN M. VALA RESEARCH
The information contained herein is confidential and is intended solely for the addressee(s). Any H
with a trailing stop of 48
INDUS IND BK-Mon .31/05/02-06/07/07 N-1415 TREND
02 S 03 M S 04 M S 05 M S 06 M S 07 M Price E M A(10) E M A(87)
20 30 40 50 60 70 80 64.21 83.90 MACD(12,26,E, 9) -0 5 10 64.21 83.90 Volume 25000000 50000000 64.21 83.90 R S I(14,E, 9) 40 50 60 70 64.21 83.90 F 06/07/07 O 55.30 H 55.30 M -0.27 R 50.38 L 50.20 C 51.50 V 2680 E 47.94 M 0.05 V 5007267 R 52.76 P
Best buying pric RICOL P
Just buy C R
Looks to have a bottomed out in the longish CO BANK
U
Every fall an o
By Dharmesh N. Vala
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