M-Trade

Price Leads Momentum

noreply@blogger.com (Mustafa) — Tue, 31 Mar 2009 07:26:00 +0000

Slideshow: Price leads Momentum by Mr. SUDARSHAN SUKHANI (Technical Trends)

Intraday Stock Idea :: RComm (Buy)

noreply@blogger.com (Mustafa) — Sun, 29 Mar 2009 11:28:00 +0000

The stock has given a trend line breakout with rising volumes. This suggests further upside in the coming trading session.

Traders can buy this stock at current levels with Stoploss*: Rs.180 Tgt: Rs.198.

Short Term Picks :: IDEA, BHEL, OBC (with charts)

noreply@blogger.com (Mustafa) — Sun, 29 Mar 2009 11:22:00 +0000

Idea has given a 'Triangular' pattern formation breakout with rising volumes on the weekly charts. This suggests a further up-move in the coming weeks.
Traders can buy this stock at current levels and on declines up to Rs.50 with a stop loss of Rs.46.30, with a target of Rs. 65 in the next 3 - 5 weeks.

Bhel has given a 'Triangular' pattern formation breakout with rising volumes on the weekly charts. This suggests a further up-move in the coming weeks.
Traders can buy this stock at current levels and on declines up to Rs.1,510 with a stop loss of Rs.1,478 with a target of Rs. 1,680 in the next 3 - 5 weeks.

OBC has given a breakout from 'Inverse Head & Shoulder' bullish formation with rising volumes on the daily charts. This suggests a further up-move in the coming weeks.
Traders can buy this stock at current levels and on declines up to Rs.116 with a stop loss of Rs.110, with a target of Rs. 138 in the next 1 - 2 weeks.

Sensex / NIFTY Weekly Technical Outlook (March 29, 2008)

noreply@blogger.com (Mustafa) — Sun, 29 Mar 2009 11:05:00 +0000

Bulls spring a surprise - Markets may rally further
In our previous weekly report, we had mentioned that the markets would remain range bound and trade in the range of 8650 - 9900 / 2700 - 3000 levels. Further, we had advised traders to trade from the long side only if indices trade and close above 9120 / 2836 levels with a stop loss of 8867 / 2770 levels for a target of 9900 / 3000 levels. The benchmark indices gave a breakout from 9120 / 2836 levels with higher volumes and not only achieved our above-mentioned targets but rallied sharply beyond our expectations to make a high of 10127 / 3123 levels. The Sensex ended with a gain of 12.6% where as the Nifty gained 10.7% vis-à-vis the previous week.Pattern Formation:

On the weekly charts, we are witnessing a "V" - pattern formation breakout with higher volumes, which suggest further upside and the projected targets for the said pattern is around 11250 - 11500 / 3360 - 3400 levels which also coincide with the 200 days EMA.
On the weekly charts, the Average Directional Index ADX, which is the trend following indicator is about to give a positive crossover which suggests further upside in the coming weeks.
On the daily charts, the prices have moved very close towards the "Major" downward sloping trend line joining the two previous significant tops,viz the all time high of 21207 / 6357 levels in Jan 2008 and 15107 / 4558 levels in Sept 08. This downward sloping trend line may act as a resistance.
Also, we are nearing a strong multiple resistance zone with the previous swing high formed in the range of 10450 - 10550 / 3150 - 3180 levels, which may act as a strong resistance.

Future Outlook:
The coming weeks are truncated on account of market holidays with market working only for 3 days in the next to next week. Keeping this in mind and the fact that we are near the strong multiple resistance levels as mentioned above, there is likelihood of the markets consolidating and possibly witnessing a small correction. However, the "V" pattern breakout as well the ADX suggests that the correction cannot be very sharp and the indices may test the levels of 9800 - 9724 / 3000 - 2970 levels at the most, which should be used as buying opportunities. Short-term traders who have been long at lower levels can book partial profits to reenter at lower levels. As witnessed in the past two weeks, we are likely to see stock specific movement, more in Midcap counters.

Sensex / Nifty Outlook for 24 March 2009 (Candlestick Charts)

noreply@blogger.com (Mustafa) — Mon, 23 Mar 2009 17:09:00 +0000

Outlook for the day

It was a strong opening to the markets and more importantly, the strength was visible through out the day. On the daily charts, indices have traded and closed above 9120 / 2836 levels, which was the breakout level mentioned in our previous daily report to form long positions. Further, looking at the upside momentum coupled with a ‘V’ formation breakout on the daily charts indices are likely to test 9940 – 10470 / 3050 – 3170 or even to the extent of 10945 / 3240 levels. On the downside 9160 – 9080 / 2860 – 2840 levels may act as support for the day. Since the intermediate trend remains up, one should use corrections to trade from long side.

BSE NSE Intraday Pick :: CANARA BANK (Buy)

noreply@blogger.com (Mustafa) — Mon, 23 Mar 2009 17:06:00 +0000

The stock has given a 3 ,8 Moving Average positive crossover with rising volumes . This suggests further upside in the coming trading session.

Traders can buy this stock above Rs.154 levels with Stoploss*: Rs.152 Tgt: Rs.163.00

BSE NSE Intraday Pick :: SBIN (Buy)

noreply@blogger.com (Mustafa) — Mon, 23 Mar 2009 17:04:00 +0000

The stock has a 3, 8 Moving Average positive crossover with rising volumes on the daily chart. This suggests further upside in the coming trading session.

Traders can buy this stock above Rs.1030.00 levels with Stop-loss*:Rs.1019.30 Tgt: Rs.1076.00

NSE :: Pivot Levels for NIFTY 50 Stocks

noreply@blogger.com (Mustafa) — Mon, 23 Mar 2009 17:02:00 +0000

Short Term Pick :: IDFC (Buy)

noreply@blogger.com (Mustafa) — Sun, 22 Mar 2009 07:03:00 +0000

Short Term Pick :: PUNJ LLOYD (Buy)

noreply@blogger.com (Mustafa) — Sun, 22 Mar 2009 07:02:00 +0000

Short Term Pick :: MCLEODRUSSEL (Buy)

noreply@blogger.com (Mustafa) — Sun, 22 Mar 2009 07:01:00 +0000

Short Term Pick :: HINDALCO (Buy)

noreply@blogger.com (Mustafa) — Sun, 22 Mar 2009 06:58:00 +0000

BSE NSE Technical Talk :: Market in Indecisive Mood

noreply@blogger.com (Mustafa) — Sun, 22 Mar 2009 06:47:00 +0000

BSE / NSE Weekly Market Report 21 March 2009 : Markets may remain range bound - Stocks specific action likely

noreply@blogger.com (Mustafa) — Sun, 22 Mar 2009 06:35:00 +0000

Sensex (8966) / Nifty (2807)
In our previous weekly report, we had mentioned that the indices were likely to trade in the range of 8000 - 8950 / 2500 - 2830 levels as we felt that a short-term bottom had been formed. Further, on the basis of the pattern formation, viz. RSI (Smoothened) and 3-day EMA crossing 8-day EMA from below, we had clearly mentioned that there would be a further upside in the coming days. Hence, we had advised traders not to form fresh short positions / square off short positions if already formed and use correction to around 8550 - 8450 / 2670 - 2640 levels as an opportunity to go long for a target of 9000 - 9050 / 2830 - 2850 levels with a stop loss of 8325 / 2595 levels. Though the magnitude of the correction fell a little short of our expectation, the markets rallied to our target levels. The Sensex ended with a gain of 2.4% whereas the Nifty gained 3.2% vis-à-vis the previous week

Pattern Formation:

On the weekly charts, the intermediate trend is witnessing a lower- top lower-bottom formation and this formation can only be violated once the indices trade and close above 9724 / 2969 levels.
On the daily charts, we are witnessing a narrow range body formation for three consecutive trading sessions, which suggests indecisiveness prevailing at current levels.

Future Outlook:
The coming week is likely to witness range bound activity, where indices are likely to trade in the range of 8650 - 9900 / 2700 - had advised traders not to form fresh short positions / square off short positions if already formed and use correction to around 8550 - 8450 / 2670 - 2640 levels as an opportunity to go long for a target of 9000 - 9050 / 2830 - 2850 levels with a stop loss of 8325 / 2595 levels. Though the magnitude of the correction fell a little short of our expectation, the markets rallied to our target levels. The Sensex ended with a gain of 2.4% whereas the Nifty gained 3.2% vis-à-vis the previous week 3000 levels. Since on the daily charts we are witnessing a narrow range body formation for three consecutive trading sessions, it suggests indecisiveness prevailing at current levels. There are no firm clues on the pattern formation, and on the momentum indicators front that could suggest a breakdown or a breakout from the trading range. Hence, we advise short-term traders to trade from the long side only if the indices trade and close above 9120 / 2836 levels with a stop loss of 8867 / 2770 levels for a target of 9900 / 3000 levels. On the sectoral front, Oil & Gas and Metals are showing some strength while Banking and Capital Goods are looking weak. This week being an F&O expiry there is likelihood of markets being range bound in general with some stocks specific activity likely to be witnessed.

BSE NSE Market Review and Outlook for 20 March 2009

noreply@blogger.com (Mustafa) — Thu, 19 Mar 2009 17:38:00 +0000

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Markets opened higher and traded with extreme volatility but finally closed on a flat note. On the daily charts, we are witnessing a ‘Doji’ formation, which suggests indecisiveness prevailing at current levels. The coming trading session is likely trade in the range of 9120 – 8900 / 2840 – 2770 levels. However, if it trades convincingly below 8900 / 2770 levels then indices may test the levels of 8800 / 2740 levels. On the upside, 8900 / 2840 levels may act as resistance for day.

Bank Of India and Axis Bank are looking positive on the charts.

Today Market Review and Outlook for 19th March 2009

noreply@blogger.com (Mustafa) — Wed, 18 Mar 2009 14:11:00 +0000

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Outlook for the day:
Markets opened up with a gap in wake of strong global cues, but witnessed profit booking at higher levels to close near days low. On the daily charts, we are witnessing an ‘Inverted Hammer’ bearish pattern at the top of the intermediate rally, which suggests weakness in the coming trading session. On the downside, indices are likely to take support at 8800 - 8700 / 2740 – 2713 levels. However, on the upside, 9120 / 2836 levels may act as a resistance for the day.

Book Review: Candlestick Charting for Dummies

noreply@blogger.com (Mustafa) — Tue, 17 Mar 2009 06:42:00 +0000

Want to gain a trading edge with candlestick charts? Find them a little confusing? No worries! "Candlestick Charting For Dummies" sheds light on this time-tested method for finding the perfect moment to buy or sell. It demystifies technical and chart analysis and gives you the tools you need to identify trading patterns - and pounce! This friendly, practical, guide explains candlestick charting and technical analysis in plain English. In no time, you'll be working with common candlestick patterns, analyzing trading patterns, predicting market behavior, and making your smartest trades ever. You'll discover the advantages candlestick has over other charting methods and learn the secrets of combining it with other technical indicators. You'll also get familiar with different ways to display and interpret price action, including trend lines, support levels, resistance levels, moving averages, and complex indicators.

This title helps to discover how to: construct candlestick charts; identify and interpret basic patterns; trade in bull and bear markets; work with complex patterns and indicators; avoid False signals; understand the components of market activity; deal with bullish or bearish single-stick, two stick, and multistick patterns; identify and interpret complex patterns; use indicators to determine the market; and, outperform the market in any conditions. Don't know whether to grab the bull by the horns or just grin and bear it? Read "Candlestick Charting For Dummies" and get it right the first time.

Candlestick Charting Patterns Discussed in the book:

Bullish	Bearish
The Bullish White Marubozu	The Bearish Long Black Candle
The Bullish Dragonfly Doji	The Bearish Gravestone Doji

Single Stick Pattern the depend on Market Context
Dojis
The Long Legged Doji
Spinning Tops
Belt Holds
The Hanging Man and The Hammer

Double Stick Reversal Patterns
Bullish	Bearish
Bullish Engulfing	Bearish Engulfing
Bullish Harami	Bearish Harami
Bullish Harami Cross	Bearish Harami Cross
Bullish Inverted Hammer	Bearish Inverted Hammer
Bullish Doji Star	Bearish Doji Star
Bullish Meeting Line	Bearish Meeting Line
Bullish Piercing Line	Bearish Piercing Line or Dark Cloud Cover

Double Stick Continuation Patterns
Bullish	Bearish
Bullish Thrusting Line	Bearish Thrusting Line
Bullish Seperating Lines	Bearish Seperating Lines
Bullish Necklines	Bearish Necklines

Three Stick Reversal Patterns
Bullish	Bearish
Three Inside Up	Three Inside Down
Three Outside Up	Three Outside Down
Three White Soldiers	Three Black Crows
Morning Star and Bullish Doji Star	Evening Star and Bearish Doji Star
Bullish Abandoned Baby	Bearish Abandoned Baby
Bullish Squeeze Alert	Bearish Squeeze Alert

Three Stick Continuation Patterns
Bullish	Bearish
Bullish Side by Side White Lines	Bearish Side by Side Black Lines
Bullish Side by Side Black Lines	Bearish Side by Side White Lines
Upside Tasuki Gap	Downside Tasuki Gap
Upside Gap Filled	Downside Gap Filled

Sensex in Recovery Mode

noreply@blogger.com (Mustafa) — Sun, 15 Mar 2009 09:53:00 +0000

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Position Pick :: VOLTAS (Buy)

noreply@blogger.com (Mustafa) — Sun, 15 Mar 2009 09:53:00 +0000

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Morning Stock Watch(16 March 2009) :: TISCO / DLF (Buy for Intraday)

noreply@blogger.com (Mustafa) — Sat, 14 Mar 2009 14:58:00 +0000

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Market Outlook for 16 March 2009 (with Charts)

noreply@blogger.com (Mustafa) — Sat, 14 Mar 2009 14:54:00 +0000

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Weekly Market Review

noreply@blogger.com (Mustafa) — Sat, 14 Mar 2009 14:20:00 +0000

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MCX Gold / Silver

noreply@blogger.com (Mustafa) — Sat, 14 Mar 2009 14:15:00 +0000

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What is the Volatility Index?

noreply@blogger.com (Mustafa) — Fri, 13 Mar 2009 06:00:00 +0000

What is the Volatility Index?

Swing Trading Slideshow :: Must See

noreply@blogger.com (Mustafa) — Tue, 10 Mar 2009 11:02:00 +0000

This is a swing trading presentation prepared by noted Technical Analyst, Mr. Sudarshan Sukhani