Technical View :: NIFTY

Nifty’s next levels of resistance are 6013/6038/6161. In the week just gone by all our previous forecast targets are fully achieved. Nifty has attempted to go past 5900 levels. However, could not close above 5900 indicating that (evident from nifty weekly charts) it is likely to correct before making any fresh move to the upside. Action packed week ahead  with couple of major announcements (Fed tapering and RBI Policy) lined up may cause some kind of tantrum or jubilation (with new RBI governor action plan and BJP Prime Ministerial candidate  announcement) in the domestic markets may drive the market to upside in contrary to NIFTY’s weekly down trend for a while.

P.S., News is always short lived it is a kind of friction to the trend never ever try to blend news with the trend else you may be stopped out without your targets are fully achieved.

Below is the forecast for the list of Indices and Stocks for the forthcoming week(Sept 16th -20th 2013 week) :-

Risk/Reward ratio for the below may look little wide due to high impact news round the corner we need to ensure that we are not stopped out without our targets been hit.

Do remember to move your Initial Stop Loss (ISL) to first target as soon as you are in money to lock minimum profits.

Index/Stock

Action

 CMP

Target(s)

Stop Loss

Comments

NIFTY SPOT

SELL

5850.16

5823/5792/5778/5735

6070

Trail the stop loss (move the stop loss to 1ST target once in money.

BANKNFITY SPOT

SELL

10181

10108/10080/10017

10548

Trail the stop loss (move the stop loss to 1ST target once in money.

TCS EQ

SELL

1953.75

1941/1937/1927

2156

Trail the stop loss (move the stop loss to 1ST target once in money.

INFOSYS EQ

SELL

3028.05

2998/2987/2961/2941

3326

Trail the stop loss (move the stop loss to 1ST target once in money.

TATA MOTORS EQ

SELL

334.05

329/326/321

367.15

Trail the stop loss (move the stop loss to 1ST target once in money.

TATA STEEL EQ

SELL

298.30

294/292/288/285

332.60

Trail the stop loss (move the stop loss to 1ST target once in money.

SBI EQ

SELL

1661.10

1643/1637/1621/1609

1721.50

Trail the stop loss (move the stop loss to 1ST target once in money.

ITC EQ

SELL

331.40

328/326/323.80

352.70

Trail the stop loss (move the stop loss to 1ST target once in money.

RELIANCE EQ

SELL

873

867.20/864.80/859.75

915

Trail the stop loss (move the stop loss to 1ST target once in money.

RELCAP EQ

SELL

346

342.40/340.90/337.75

371

Trail the stop loss (move the stop loss to 1ST target once in money.

AXIS BANK EQ

SELL

1059.60

1042.40/1036/1021

1086.80

Trail the stop loss (move the stop loss to 1ST target once in money.

ASIAN PAINTS EQ

SELL

442.35

438.45/436.85/433.45

465.65

Trail the stop loss (move the stop loss to 1ST target once in money.

RANBAXY EQ

SELL

457.20

452.20/450.25/445.85/442.3

485.20

Trail the stop loss (move the stop loss to 1ST target once in money.

SIEMENS EQ

SELL

479.40

458.60/450.15/432/417.4

582.80

Trail the stop loss (move the stop loss to 1ST target once in money.

ULTRATECH EQ

SELL

1720.85

1683/1668/1635

1966

Trail the stop loss (move the stop loss to 1ST target once in money.

BHARTI AIRTEL EQ

SELL

325.75

319.90/317.50/312.40

365.20

Trail the stop loss (move the stop loss to 1ST target once in money.

BAJAJ AUTO EQ

BUY

2003.40

2026/2040/2051/2062

1780

Trail the stop loss (move the stop loss to 1ST target once in money.

COAL INDIA EQ

BUY

293

297/300.25/302.50/304.75

266.75

Trail the stop loss (move the stop loss to 1ST target once in money.

CROMPTON EQ

BUY

90.90

92.30/93.20/93.90/94.60

72.95

Trail the stop loss (move the stop loss to 1ST target once in money.

DLF EQ

BUY

156.85

161/163.50/165.65/167.70

126.05

Trail the stop loss (move the stop loss to 1ST target once in money.

FOURSOFT EQ

SELL

30.05

25.70

36.15

Trail the stop loss (move the stop loss to 1ST target once in money.

JETAIRWAYS EQ

BUY

376.45

383/387.75/391.25/394.75

338.60

Trail the stop loss (move the stop loss to  1ST target once in money.

KOTAK BANK EQ

SELL

716

709.65/707.10/701.65/697.1

736.70

Trail the stop loss (move the stop loss to 1ST target once in money.

L&T EQ

BUY

836.40

847/852/862/870.9/879

755

Trail the stop loss (move the stop loss to 1ST target once in money.

MARUTI EQ

SELL

1315.90

1301/1295/1282/1272

1402.60

Trail the stop loss (move the stop loss to 1ST target once in money.

NMDC EQ

BUY

124.75

126.30/128.20/129.3/130.35

103.75

Trail the stop loss (move the stop loss to 1ST target once in money.

SAIL EQ

SELL

49.20

48.35/48/47.30/46.65

53.35

Trail the stop loss (move the stop loss to 1ST target once in money.

HDFC  EQ

SELL

807.95

799/797/789/784

838.80

Trail the stop loss (move the stop loss to 1ST target once in money.

HDFC BANK EQ

SELL

629.20

623.90/621.75/617.15/613.4

663.80

Trail the stop loss (move the stop loss to 1ST target once in money.

CENTURY TEXT EQ

SELL

244.85

241.30/239.80/236.75

261.60

Trail the stop loss (move the stop loss to 1ST target once in money.