Now Nifty levels to be watched are 4325 and 4240 any side breakout may lead another 100-200 points in the same direction.

Tomorrow Nifty testing 4175 will be first indication of next targets of 4016 3776. There may be hurdle around sentimental mark of 4000.

The stocks mentioned in the morning to watch out for correction were:

RIL, DLF, SBI, RELCAP, RELPOWER

The results were as follow:

RIL – corrected more than 4% and closed more than minus 3.5%

DLF - corrected more than 9% and closed more than minus 7.5%

SBI - corrected more than 1.5% and closed more than plus 1.0% (on expectation of good news for banking sector)

RELCAP - corrected more than 7.5% and closed more than minus 7%

RELPOWER - corrected more than 3% and closed more than plus 6% (on expectation of good news from Reliance group)

This is only for educational purpose,
this is NOT for trading

Think Tank

• Do Paper Trading before you start trading with your hard earned money.
• Instead of Targeting profit, emphasize more on minimizing trade loss

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.

Nifty Bulls enjoyed an extra mile in last 2 days NOW what?

Nifty Bulls enjoyed an extra mile in last 2 days and now if they can not close in plus today (hopes are mild) they will have to give up atleast until 4180-4150. In case Nifty closes below 4150, may be an indication of bulls coming out and then next correction targets seems to be 4016 3776.

Stocks to watch out correction RIL, DLF, SBI, RELCAP, RELPOWER

.

Where will Nifty go NOW?

What Experts Say and what meaning I take from it !!!

11:55 AM - Buy Reliance Power on dips at Rs 90, says Rajesh Tambe of Sunchan Securities on Zee Business.
BOOK PROFIT TODAY BECAUSE IT WILL COME DOWN NOW

12:18 PM - Buy Mercator Lines on dips at Rs 27-28 with long-term view, says Prakash Gaba, technical analyst, on CNBC Awaaz.
BOOK PROFIT TODAY BECAUSE IT WILL COME DOWN NOW

2:16 PM - Sell Nifty T-3170 SL@ 3320, Hemen Kapadia
DO NOT BUY FRESH NIFTY LONG AND EXIT LONG AT 3170

2:28 PM-Buy RIL T-1722 SL@1662, Hemen Kapadia…. Hit SL but closed @1671
BECAUSE RIL HAS HIT SL(BUY) TODAY SO BOOK PROFIT IN RIL AND SHORT SELL BELOW 1650

2:42PM-Buy SBI T-1194 SL@1134, Hemen Kapadia….. Closed below SL !!!
EXIT SBI LONG POSITIONS

3:17 PM - Buy Nifty futures with a target of 3450 and stop loss of 3150, says Ashwani Gujral
HOLD SHORT/FRESH-SHORT NIFTY BELOW 3150

3:21 PM - Sell Nifty futures with a target of 3170 and stop loss of 3290, says Prakash Gaba
EXIT NIFTY LONG POSITIONS BELOW 3170

3:23 PM - Hold Nifty longs, it has resistance at 3330 and support at 3220, says Rahul Mohindar
EXIT NIFTY LONG BELOW 3220

3:25 PM - Hold existing long positions with target of 3275 and stop loss of 3215, says Vijay Bhambwani
EXIT NIFTY LONG BELOW 3215


The conclusion seems to be Hold Nifty shorts created today with SL@3275 and add more shorts below 3170

This is only for educational purpose,
this is NOT a trading idea for intraday or delivery

Do Paper Trading before you start trading
with your hard earned money

20 Mar 2009 : What Experts Say

• 4:17 PM - Buy Reliance Power with 7-day targets of Rs 113 and 123, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 96.50, he adds.
• 3:27 PM - Buy India Cement with targets of Rs 113 and 127, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 90, he adds.
• 2:20 PM - Buy ONGC with target of Rs 950-1000, says Sharad Awasthi, market expert, on CNBC Awaaz.
• 1:33 PM - Hold Reliance Industries with a target of Rs 1420 after which it can go to Rs 1670, says Akshita Deshmukh, technical analyst, on CNBC Awaaz.
• 11:50 AM - Hold Reliance Capital with a target of Rs 475 where one can book profits, says Akshita Deshmukh, technical analyst, on CNBC Awaaz.
  

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Also following are more recommendations by more Experts :

• Accumulate Hero Honda, target to Rs 1055: Emkay 04:22 PM
• Buy Dr Reddys Labs, target of Rs 581: Angel Broking03:08 PM
• Buy Navneet Publications, target of Rs 59: Sharekhan 01:23 PM