Monday, October 15, 2012

Back in action!

Its been a while since I've been out of action. Now that I'm back I plan to provide you with a few trading calls. Trade at your own risk.. I seemed to have lost touch! Use your own stops and discretion to trade. Nifty -------- Nifty seems to have a bearish WW with indicative targets of 5100 - 5000. Short for the targets mentioned.
Bank of Baroda -------------- Another stock that has completed a WW and is likely due for a reversal shortly. Targets 680 / 550 or 480
Bank Nifty ----------- Likely to head towards 9000 looks like a good short to me.
JSWSTEEL ----------- Short below 725 for targets of 600/550
ORIENTBANK ----------- Short at 310 or at current price of 298 (Safe short below 280) - Targets 246 / 183
PNB ---------- Looks bullish until 900-950 (buy this stock on dips and on falls) do not trade in FNO. Over the next couple of days if we hit 900-950 (do go short on FNO) otherwise buy in cash.
PTC -------- Ready to short below 67 - targets 60 & 47
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9 comments:

  1. natarajOctober 16, 2012 at 5:27 AM

    Hi gautam,

    In NSE graph , bearish ww has failed and the price went up. so can this still be a valid WW.

    ReplyDelete
  2. natarajOctober 16, 2012 at 5:28 AM

    Hi gautam,

    In nifty ww already failed and price shot up. So can we still consider this as WW

    ReplyDelete
  3. sunilOctober 16, 2012 at 10:25 AM

    nice to see u back.ur analysis is good


    Sunil

    ReplyDelete
  4. UnknownOctober 16, 2012 at 10:31 AM

    Natraj where is the failure?

    Thanks sunil

    ReplyDelete
    Replies
    1. natarajOctober 16, 2012 at 4:48 PM

      The price is already above the 5 th point. ww which is supposed to turn back from point 5 did not and moved up. Is it not considered failure. Please explain. thanks in advance.

      Delete
    2. UnknownOctober 16, 2012 at 5:33 PM

      No sir.. There is no failure in Nifty. PT 5 completed at 5800~ even if Mkt heads up to 5846 (spot) 161% (then 5846) will be the new point 5. WW is valid at this time.

      Delete
    3. natarajOctober 16, 2012 at 9:36 PM

      Hi gautam,

      In the chart your first point is around 5300, third point is around 5400 and if you say 3 rd point is 5800 you can not ever draw a straight line connecting these points. Please let me know if i am missing something here. If you dont mind can you please draw the chart connecting all the points you are referring to. The chart you have here certainly is not going through 5800.

      Delete
    4. UnknownOctober 17, 2012 at 3:36 PM

      Natraj add me on GTALK - gautam108@gmail.com

      Delete
  5. gopalOctober 16, 2012 at 10:39 AM

    good to see u back

    ReplyDelete

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