Archives : DEEPAWALI SPECIAL - NIFTY HEADED TOWARDS 7355 - 30/10/2013.

DEEPAWALI SPECIAL. NIFTY HEADED TOWARDS 7355 - 30/10/2013.

First of all let me wish all my readers a very Happy Deepawali and a Prosperous New Year. May you all have a successful trading year ahead. 

NEW HIGHS SOON.

After a long wait of more than 5 years, finally the market is on the verge of knocking off life time high levels which stands at 21308 and Nifty 6357. Both Sensex and Nifty were in correction mode for more than 2 years now, which finally seems to have ended this year. Hopefully now we are ready for the next move forward for a minimum target of Sensex 24434 and Nifty 7355, provided Sensex stays above 18827 and Nifty above 5648. The journey upwards will definitely be challenging for the bulls but more importantly the upwards journey seems to have begun at last.

 


DEEPAWALI SPECIAL. NIFTY HEADED TOWARDS 7355 - 30/10/2013.

First of all let me wish all my readers a very Happy Deepawali and a Prosperous New Year. May you all have a successful trading year ahead. 

NEW HIGHS SOON.

After a long wait of more than 5 years, finally the market is on the verge of knocking off life time high levels which stands at 21308 and Nifty 6357. Both Sensex and Nifty were in correction mode for more than 2 years now, which finally seems to have ended this year. Hopefully now we are ready for the next move forward for a minimum target of Sensex 24434 and Nifty 7355, provided Sensex stays above 18827 and Nifty above 5648. The journey upwards will definitely be challenging for the bulls but more importantly the upwards journey seems to have begun at last.

TECHNICALLY SPEAKING.

Pattern Analysis:

Sensex has completed a Bullish Saucer formation starting from November 2010 to October 2013, even as the Nifty is on the verge of completing this Bullish Pattern. The depth of the saucer for the Sensex is 5550 and for the Nifty is 1688. The target thus works out to be atleast 24434 for the Sensex and 7355 for the Nifty and on the higher side Sensex 26554 and Nifty 8000. The target is likely to be achieved in the next 18 months.

On a cautionary note, the bulls need to maintain and stay above Sensex 18519 and Nifty 5471 for the long term Uptrend to continue. In case the above levels are breached, then the long trend will be reversed and then the Sensex will move lower to the support zone around 15135 and Nifty 4531.

For the year ahead, Sensex will face Resistance at 22823-24763-26554 and Support will be at 19131-17250-15135.

For the Year ahead, Nifty will face Resistance at 6818-7355-8000 and Support will be at 5700-5118-4531.

YEARLY INDEX LEVELS:

S3

S2

S1

CLOSE

R1

R2

R3

Nifty

4531

5118

5700

6251

6818

7355

8000

Sensex

15135

17250

19131

21033

22823

24763

26554

.
Sensex Saucer

THIS YEAR’S RECOMMENDATIONS: 

STOCK

CMP

SL

Tgt-1

Tgt-2

Buy AuroPharma

210

171

275

345

Buy HDFC Bank

667

587

838

1023

Buy M&M Fin

276

237

352

432

DEEPAWALI RECOMMENDATION:

Aurobindo Pharma

   WEEKLY UPDATE.

SENSEX @ ALL TIME HIGHS – 01/11/2013. 

Finally it has happened; Sensex has registered an all time high on Friday, surpassing the previous all time high of 21206 after a period of around five years. Nifty too has closed at all time high levels but yet not surpassed the levels of 6357. It seems the Bulls have chosen the Deepawali day to break this level.

For the week ahead, Sensex will find Support at 20917-20664-20375 and will find Resistance at 21523-21873-22214.

For the week ahead, Nifty will find Support at 6220-6127-6032 and will find Resistance at 6392-6487-6584.

INDEX LEVELS:

S3

S2

S1

CLOSE

R1

R2

R3

Nifty

6032

6127

6220

6307

6392

6487

6584

Sensex

20375

20664

20917

21196

21523

21873

22214

LAST WEEKS RECOMMENDATIONS:

The Star Performers of the week were Union Bank and Bank of Baroda which went up by 14% and 13% respectively!!!

STOCK

Reco. Price

Tgt

Reached

Lot Size

Profit

Maruti

1508

1608

1660

250

Rs.38,000

Buy BoB

594

641

672

500

Rs.39,000

TatCoff

1092

1134

1138

250

Rs.11,500

Dabur

182

190

184

2000

Rs. 4,000

Buy UBI

122

133

140

2000

Rs.36,000

Total

Rs.1,28,500

THIS WEEKS RECOMMENDATIONS:

STOCK

CMP

SL

Tgt-1

Tgt-2

Buy Biocon

350

344

360

371

Buy Bata

920

899

956

994

Buy HindZinc

137

133

143

150

Buy PFC

144

140

151

159

Buy IRB

84

81

89

94

Disclaimer : The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness.

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