Nifty / Market Technical Analysis (Few Examples)

What Experts Said Before :

• Mar 20, 2009.....9:45 AM - Nifty has resistance at 2800 and 2700 may not hold, says Siddharth Bhamre, technical analyst, on CNBC TV18. It is best to stay with large cap stocks and stay out of midcaps, he adds.
• Mar 24,2009.....3:15 PM - Buy Nifty put 2950 and hold till expiry, says Sudarshan Sukhani, technical analyst, on CNBC TV18, as closing market strategy.
• Mar 24, 2009.....2:11 PM - Sell RIL at current levels and book profits, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock could see a sharp correction in a month and go to levels of Rs 1100 where it can be bought for the long term, he adds.

-------------------------------------------------------------------------------

And What Experts Says Now on Mar 27, 2009:

• 9:34 AM - The Nifty did not witness strong rollovers due to lack of short rollovers, says VK Sharma of Anagram Stock Broking on CNBC TV18. He expects midcap F&O stocks to see some action. He advises trading with strict stop loss or writing higher out-of-the-money calls for protection.
• 9:39 AM - Nifty will be trading in the range of 2880-3150, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. On dips, support will be 2970 and 2880, he adds. He sees next resistance for Nifty at 3150-3200.
• 9:46 AM - There will be buying opportunity on dips in the morning and post-lunch sessions, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Buy with a stop loss for 20-25 point gains, he adds.
• 9:51 AM - The Nifty is expected to head towards the 4000 mark in the medium term though it won't be a straight dash towards it, says Sandeep Shah of Sampriti Capital on CNBC TV18. He believes that the fundamentals are similar to those 2004 levels. He advises taking a long-term view. He is sure that 2500 on the Nifty and 8000 on the Sensex will hold.
• 10:45 AM - Short-term traders buy Tata Steel with target of Rs 250-260, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 180, he adds.
• 11:32 AM - Hold IVRCL Infra with medium-term target of Rs 172, says E Mathew, technical analyst, on CNBC TV18. Keep stop loss of Rs 121-125, he adds.
• 12:12 PM - Go short on NTPC with target of Rs 165, says Mitesh Thacker, technical analyst, on CNBC TV18. Keep stop loss of Rs 188, he adds.
• 12:19 PM - Will wait on investments into India till the elections are over, says Samir Arora of Helios Capital on NDTV Profit. He expects consolidation in the current bear market rally but says it is difficult to assess medium-term direction of the markets. Political overhang in India is a cause for concern and uncertainty of election outcome increases the risks, he adds.
• 12:33 PM - Invest in staggered fashion in L&T, RIL, Reliance Infrastructure and ICICI Bank with long-term view, says Phani Sekhar of Angel Broking on CNBC Awaaz.
• 12:47 PM - The global markets are close to a bottom and so one should not buy in such a rally, says Andrew Holland of Ambit Capital on CNBC TV18. The risks on the downside continue and the markets may retest lows, he adds. Though optimistic about a sharp pull-back, he is still bullish in the long run. On investment in India, he says that India will remain off investors' radar for most of 2009 due to elections.
• 12:53 PM - Hold Bajaj Auto and sell when it reaches Rs 640, says Ashu Bagri, technical analyst, on NDTV Profit. It has support at Rs 550, he adds.
• 1:15 PM - Sensex is likely to go to 12500 but the current rally does not indicate this is the beginning of a bull market, says Shankar Sharma of First Global, on CNBC TV18. The market lows mat not be in place as there is still a lot of problems ahead in the global market, he feels. The second half of 2009 will be crucial, he says.
• 1:44 PM - Buy RIL with a target of Rs 1650 and stop loss of Rs 1420, says Nitin Murarka of SMC Global, on Zee Business.
• 1:52 PM - Buy RIL in a correction around Rs 1450-1480 with a target of Rs 1700 in 2-3 weeks, says Salil Sharma of Kapoor & Sharma Company, on NDTV Profit.
• 3:14 PM - Hold Nifty futures with a target of 3145 and stop loss of 3070, says Vijay Bhambwani, technical analyst, on CNBC Awaaz, as closing market strategy.
• 3:16 PM - Book profits in Nifty long positions, says Ashwani Gujral, technical analyst, on CNBC-TV18, as closing market strategy.
• 3:21 PM - Book partial profits in Nifty long positions, says Anil Maghnani, technical analyst, on CNBC-TV18, as closing market strategy. Hold the rest with Nifty target of 3150-3175 and stop loss of 3050, he adds.
• 3:28 PM - Nifty has consolidated around 2800-2900 and now shown a breakout at 2830, says E Mathew, technical analyst, on CNBC TV18. This time if Nifty goes past 3150 on close, it will be a mouth-watering bear market rally that can take Nifty to 3700-3800, he adds.
• 4:15 PM - The best picks in the power space are BHEL at Rs 1350 and NTPC at Rs 165 for good long-term stories, says Shrikant Chouhan of Kotak Securities, on CNBC Awaaz.
• 4:25 PM - The market is showing strength and the rally could go to 3500-3600 on Nifty, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Nifty has good support at 2860-2900 which would also be a good opportunity to buy, he adds.

-------------------------------------------------------------------------------

Also some more on Today :

• See mkt rally over 3250 till July: Reliance Equities (04:23 PM | 27 March) Jai Bala of Reliance Equities International said as long as the retracement doesn’t exceed 2,800, it is still a bullish scenario.
• Mkt may retest lows, don't buy now: Andrew Holland (11:20 AM | 27 March) Andrew Holland, CEO—Institutional Equities and Equity Proprietary Trading, Ambit Capital feels that the global markets are close to a bottom
• Mkt rally to take breather; don't enter now: Shankar Sharma (10:43 AM | 27 March) Talking about the current pullback rally seen in the markets, Shankar Sharma of First Global said it fits the bill of a bear market rally.
• Buy Tata Tea, target of Rs 853: Sharekhan (03:15 PM | 27 March) Sharekhan has maintained its buy rating on Tata Tea with a price target of Rs 853.
• Buy Sun Pharmaceutical, target of Rs 1295: Sharekhan (03:00 PM | 27 March) Sharekhan has maintained its buy rating on Sun Pharmaceutical Industries with a price target of Rs 1,295.
• Reliance Industries has target of Rs 1700: H Jani (02:11 PM | 27 March) Hemang Jani, Senior Vice President of Sharekhan is of the view that Reliance Industries has target of Rs 1700.
• HDFC has target of Rs 1837: P Kushe (12:55 PM | 27 March) Prasad Kushe of Equitytrendz.com is of the view that HDFC has a target of around Rs 1,724 and Rs 1,837
  

-------------------------------------------------------------------------------

ALL WELL SAID AND DONE. WHAT I WILL PREFER.....

I WOULD HOLD STOCKS AND LET THEM MOVE UP HOW MUCH THEY WANT AND COULD SELL STOCKS ON THE DAY NIFTY "CLOSES" FIRST TIME IN NEGATIVE, I WOULD PREFER IF THE BIG BRO "RIL" ALSO CLOSES NEGATIVE THAT DAY!

BEARS SEEMS COMPLETELY TRAPPED AT THE MOVEMENT, NOW LET US SEE WHETHER THEY GET A CHANCE TO EXIT AROUND FIRST AT 2940 AND LATER AROUND 2880.

-------------------------------------------------------------------------------

THE FUN IS....

IN CASE NIFTY CLOSES BELOW 2820 ANYTIME MANY ANALYSTS MAY START TELLING THAT NIFTY "HAS" TO RETEST OCT LOWS TO SEE ANY UPWARD MOVEMENT !!!

TRADERS AND GOD FORGIVE ME... IN CASE NIFTY CLOSES BELOW 2500 ANYTIME ALL COULD BE TELLING THAT TIME NIFTY MAY TEST 1800 (WITH SENSEX AROUND 5000) !!!

-------------------------------------------------------------------------------

THE QUESTION REMAINS SAME, WHAT TO DO?.....

I DON'T SAY TECHNICAL ANALYSTS ARE WRONG, LIFE IS LIKE THAT "UGATE SURAJ KO SAB NAMASKAR KARTE HEIN, DOOBTE SURAJ KO NAHIN"..... SO WHEN THEY SAY NIFTY IS LOOKING STRONG AND IT MAY TEST 3000-3100-3200 BETTER DO NOT CREATE FRESH SHORTS (IF YOU WANT YOU MAY HOLD EXISTING SHORTS). BUT IN CASE YOU HAVE GOOD PROFIT WHY NOT TO BOOK ATLEAST PARTIAL PROFIT !!!

IT MAY BE GOOD IDEA TO BOOK PROFITS PARTIALLY AT TIMES IRRESPECTIVE OF WHAT MARKET OR ANYONE IS SAYING!!!