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Since I have already propogated that NIFTY has to rise above the upper line & breakout of ascending triangle (if that doesnt happen then it would be very very worrying), most of my picks for the coming week are generally longs. If NIFTY moves the way I have envisaged in another thread (click below) then most of these longs hold true.

http://www.getbhavcopy.com/apps/forums/topics/show/1298238-weekend-platter-food-for-thought?page=last

But let me begin with a SELL signal that is strongly bursting out of my charts

TATAMOTORS >>> Sell; spinning top, falling RSI & stochastics, BB= prices have peaked above the upper band followed by selloff...declining MACD (confirmation signal will come once it crosses the signal line)

LONGS now;

ONGC >>> buy; big white candle, another case of ascending triangle, but prices need to breakout above for confirmation...Stochastics buy signal, BB= prices crossed over the midline, chances of a breakout imminent, bullish MACD crossover imminent, rising RSI

L&T >>> buy; Long lower shadow, stochastics buy signal, bullish MACD which might again bounce off its signal line, rising RSI

HDFC >>> buy; big white candle, bullish seperating lines, bullish MACD crossover imminent, stochastic buy signal, rising RSI, 2nd elliot wave?

PNB >>>buy; doji star, long lower shadow, bullish MACD

OTHER longs

BHEL
SIEMENS

RELIANCE

RPOWER

NTPC

RANBAXY

ITC

MARUTIUDYOG

M&M

GRASIM

All suggestions & counterviews are welcome.... I believe IT should be generally down this week

Will look at midcaps n smaller scrips n get back here

Friends i have just started studyin charts since 2-3 months so plz dont follow my foot steps..

Anuj but first leave traces of your footprints & then we will decide wether we need to follow you or not  ... in any case, we aren't any great experts ourselves ... but welcome to GBC forums

Here are a few Midcap picks;

AMTEKAUTO >>> Buy; big white candle, BB= crossed above the upperband, MACD bullish & in overbrought condition n may stay there for some more time. Has broken the resistance level @ 166-169 & has next resistance @ 189-190

& a few other longs

GESHIP

ASIANPAINTS

BOMDYEING

Here is a SELL signal ( although am not sure);

HCC >>> showing head & shoulders pattern?

Praveen patil at 12:54PM on Sep 06, 2009

Here are a few Midcap picks;

 

AMTEKAUTO >>> Buy; big white candle, BB= crossed above the upperband, MACD bullish & in overbrought condition n may stay there for some more time. Has broken the resistance level @ 166-169 & has next resistance @ 189-190

 

& a few other longs

 

GESHIP

ASIANPAINTS

BOMDYEING

 

 

Here is a SELL signal ( although am not sure);

 

HCC >>> showing head & shoulders pattern?

i think the pattern on HCC is more like symmetrical triangle.upper trendline is drawn at the highs of 5 Jun and 3 Aug, lower from 18 Jun nd 18 Aug. volumes in keeping with the triangles have also reduced by good measure. so i think u got to wait till there is a close beyond any of these lines.

p.s.- ive taken the bar on 13 Jul as abberration.

Dear Praveen

 From your OTHER Long picks  M&M, MARUTIUDYOG & SIEMENS looks good even for intraday gains on 07-09-2009 provided that they do not open too high..

 Initiating SELL on TATMOTORS  tomorrow(07-09-09) itself  - to me -  will not be a good idea as several experts are propogating the theory of festive season and etc.

A cpl of morning picks for today;

Mid-day (for small risk capital)

& MONNETISPA

Buy Neyveli Lignite CMP 134 for a target of 144

Apollo Tyres fundamentals of this co. are good... It has a good support at Rs 40.. CMP 42

Markets have opened positively UTTAMGALVA again gave me no chance 2 participate lolol ... It was news driven anyways and has hit circuit (10% up) in under 5 minutes ... IOC is up almost 6%!!! Again news driven, i guess (dividend news)

Anuj, Neyvelig is already 4% up, are u sure abt that target of 144?

lol i myself had entered on 127 levels.. the stock is up and its up by volumes

CHEERIO  ... AMTEKAUTO has crossed beyond all my expectations ... Just booked profit @ 194.90  .... MONNETISPA has also given me great returns ... simply fabulous  

On NIFTY ; ONGC still has to move some more before am gonna off load

TATAMOTORS was a wrong call i guess, itz just defying all gravity  YK u wer right abt festive sales n awl... but I still bliv its a good short candidate for the week .

My only problem of the day is GESHIP .. took position @ 272.50 & its just not budging from there

good going Praveen... can anybody help me wid Apollo Hosp. i had entered long at 545 levels.. n its abt to hit my stop loss... is this stock every gonna come up?

Exited GESHIP @ 273 (just abt enough to pay the brokerage) Meanwhile NIFTY has broken 4740 & is already to scale above 4750 ... GO NIFTY GO!

Anuj, am not comfortable with APOLLOHOSP any more coz it has broken the trendline & the neckline ... not a good sign at all. Guess one just has to limit losses on that counter .... But dont take my advice without your own assesment ... In any case, there might be a chance of a little bit of recovery in the near term (retracement), plus also the fact that generally markets might scale new heights in the near future. But all in all its better to exit APOLLOHOSP n invest in other counters that might yield better results in the next cpl of weeks

ONGC is still not making that move (seems unlikely that it will move in any big way) while BPCL & IOC have outperformed the markets today ... But am still long on ONGC as of now ... lets see what happens tomorrow

M&M went down which was surprising (despite improving monsoon news) while TATAMOTORS is scaling new heights!!! itz @ 550!!! incredible ... dunno whatz happening there

NIFTY has crossed 4750 easily & my guess is it will close above that ... GO NIFTY GO

Praveen patil at 02:45AM on Sep 07, 2009

TATAMOTORS was a wrong call i guess, itz just defying all gravity  YK u wer right abt festive sales n awl... but I still bliv its a good short candidate for the week .

 

My only problem of the day is GESHIP .. took position @ 272.50 & its just not budging from there

Dear Praveen

Let TATAMOTORS grow - no proble. I'm happy as it is blowing out of proportion.

It's in my radar.

The intensity of rise will confirm intensity of fall too.

Cheers!

YK ... agree with that @ TATAMOTORS ... I believe more than earlier now that TATAMOTORS is a good candidate for shorting now... But, looking at todays chart of TATAMOTORS it actually is generating BUY signals  ... guess one has to SHORT now ... lolol

Dear Praveen

Nothing to worry about it - TATAMOTORS.

It's all on the will of a trader. How he wants to play. If selected for shorting, it will be shorted.

Only wait a bit for appropriate time & formation which we should get very soon. How do you see it around 600 ? 30 or 40 pts not a great thing for such script (scrip) a matter of 2 - 3 trading session.Or even before that we can get the signal.

Let's wait. The best thing we can do right now for it.

Listless Markets today, lets see what happens ... I do have a feeling that there might be a rally in the later part of the day

Check out for both RELIANCE & SBI ... they have both broken out of their symmetrical triangles