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Wednesday, January 12, 2011

Is it Really a Bull Run!! OR........... Short Covering???

Dear All,
After long time writing a blog, as market direction was not clear, how much it will go down, support was there at the level of 5690, but, really speaking, this down side move was not at all predicted by anybody, yes, support was there, trend line support, but i am not comfortable with trend line support! Once it closes above 5950 level, then only we will say yes target of 6200 will get achieve! This is because, as i mentioned in last week blog also Put Option open interest is High, and Call option open interest is decreasing for nifty and for Stocks also. 
People are scared, due to this dip in the market, which was happened at the level of 4865 a year back. Same situation was there. But if we keep option open interest separately, then, Chart is showing Bullish Kicker candlestick Pattern, so lets keep watch on 5950 close, if it closes above this level, then Bull Run!! So, watch out the levels.
Nifty Support: 5800 - 5711 - 5690
Nifty Resist: 5901 - 5967 - 6030
Intraday Stocks:
  1. Grasim: Long Position, Bullish Kicker  
  2. Guj NRE Coke: Long Position, Bullish Kicker
  3. JSW Steel: Long Position, Bullish Kicker, Double Bottom  
  4. Opto Circuit: Long Position, Bullish Kicker, Double Bottom
  5. Orchid Chem: Long Position, Bullish Kicker
  6. Praj Ind: Long Position, Flag Pattern Breakout
  7. Sterlite: Long Position, Bullish Kicker
  8. Titan: Long Position, Bullish Kicker  
  9. VIX: Short Position, Bearish Kicker
F & O Stocks:
  1. Ashokley: Call Option buy 60, 65, 70  
  2. CanBk: Long Position, Risky Trade
  3. Cipla: Long Position, Risky Trade
  4. ICICI Bank: Call Option Buy 1050, 1100, 1150
  5. IFCI: call option buy 60, 65, 70
  6. IDFC: Call option buy 165, 170
  7. ISPAT: call option 25, 27.5
  8. SBIN: call option 2700, 2800, Try Out of the money counter also, 3100! 
  9. Tatamotors: call option 1200, 1250, 1300 buy
  10. Unitech: Call option buy 55, 60, 65
  11. Suzlon: 50, 55, 60, 65 call option Buy 
Delivery Stocks:
  1. Balaji Tele: Short Term Hold, Double Bottom
  2. Dhanalakshmi Bnk: Medium Term Hold, Double Bottom
  3. JSW Steel: Medium Term Hold, Double Bottom
  4. Opto Circuit: Short Term Hold, Double Bottom
  5. Unitech: Medium Term Hold, Double Bottom
  6. Alok Text: Short Term Hold, Double Bottom

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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