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Monday, January 31, 2011

Market: Direction change Or short Covering!!!

Dear All,
As per yesterday's prediction, market moves up from the levels 5444 to 5540 levels (Nifty Future). Looking at Nifty's chart, today market have made Key Reversal Pattern at Bottom. As per the bullish pattern, today market will open on Positive note, it will go down rapidly, after that it will gradually move up and will close at positive note at around the levels of 5610 - 30. 
This will be supported by various indicators also, and Nifty Option data also. Compare to 5400PE's open interest, 5500CE' open interest is more. 
We can conclude that market bottoms up, but fear is there if it closes below 5466.
Intraday Stocks:
  1. ABB: Long Position, Bullish Engulf
  2. CanBk: Long Position, Bullish Engulf
  3. Cromp greaves: Long Position, Bullish Piercing
  4. HDIL: Long Position, Risky Trade
  5. IVRCL Infra: Long Position, Spinning top
  6. Unitech: Long, Risky Trade
F & O Stocks:
  1. Apollo tyres: call option buy 50,52.5, 55
  2. BPCL: Short Position, risky trade
  3. DLF: Long Position, call option buy 220, 230, 250
  4. Dr. Reddy: Long Position, Western pattern
  5. IFCI: Call option buy 55,60
  6. JSW Steel: Long Position, Hammer at bottom
  7. Maruti: Long Position, key reversal pattern at bottom
Delivery Stocks:
No stock

Mrs. Anagha A. Bhave
[Technical Analyst]
Aabhineesh Total Solutions.
1st Floor, Gajanan Krupa Apt,
Sadashiv Peth, Near Nagnath Par,
Pune 411030.
94 202 14 800

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