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Jai Jinendra , Pranam , Good Morning
Trendline and Retracement level showing Strong Support at 4138 for Nifty Futures.
The ‘C’ wave is continued in Nifty Futures and tested the 1st support level of 4185. A support trendline connecting the bottom of this uptrend at 3585 formed on 2nd April and higher bottom of 3990 formed on 11th May is showing support at 4138. At the same time the 50% retracement level of 4284 and 3990 is also coinciding at 4138 levels; thus making this level as strong support. If this level is breached then next crucial support is at 4100. The corrective up-move in Nifty Futures will get strong resistance at 4245. The RSI on daily chart is at the verge of downward breakout and closing below 4138 is expected to trigger the ongoing short – term downtrend.
We expect that real estate & Property & tech stocks should bounce as tech counters are for value buy at cmp & property stocks for short term trading.
Gap Theory :
There were gaps on Bse Sensex charts , which has been filled yesterday.
Buy nifty in panic around 4140 levels for a tg of 4180 & 4230 keeping sl 4100
Stock Specific :
Positional call : Buy Ing vysya Bank abv 246 sl 235 tg 265 - 270
Positional call : Idea cell looks good for tg of 150 with 3 months+ view cmp 121
Reliance pack looks good again for short term trading
Buy klg systel abv 405 sl 390 tg 450+
Buy grindwel norton abv 138 sl 128 tg 150 , 158
Good day , happy investing
Yesterdays calls :
Advanta Tg 1000 achieved & Divis Lab tg 5000 achieved
Positional call : buy mysore cement abv 45 for tg 55+
Accumulate Tech Mahindra for investments cmp 1480
Intra day : buy brfl cmp 247 sl 240 tg 255+
Ing vysya bank tg 270 achieved
Tech mahindra cmp 1575 just Rs 95 jump in intra day.
All tech stocks had smart gains today
Relaince pack looks good for btst Ril, Rnrl , Rpl, Rel Cap & Tech stocks & property stocks
