STOCK TO WATCH DABUR CMP 114

fmcg stocks r moving. hul,itc,colgate has moved. look DABUR for for short term investment for 10% gains.cmp 114.

DEFENSIVE STOCKS MOVE AS PER EXPECTATION

as we had expected defensive stocks like hul, cogate, itc, tata tea etc are moving higher. may be smart money might be shifting from momentum stocks to defensive stocks.we are not able to cross 15k zone.if we are not able to cross 15k barrier we may move towards lower boundary of range 13.5k.decisive move above 15k only can give strength to mkt.

BOOK PROFITS

I HAVE RECOMMENDED FROM 4/5/09 ONWARDS FOLLOWING STOCKS FOR SHORT TERM BUYING.
TATA STEEL, SAIL,SESA GOA,CESC,TORNT POWER,IFCI,GT OFFSHORE,RNRL.APTECH,FIN TECH,GDL,BIO CON,LAKSHMI OVERSEA , HOTEL STOCKS, CEMENT STOCKS ETC. I RECOOMEND TO BOOK PROFITS.

market breaks sharp upmoving trend line.

as per expectation +ve global mkts helped to break recent top of 14931, but after that we are correcting now and we have broken sharp upmoving trend line which was giving support since last 5 days.refer link. trend line is shown in purple color.
http://pankaj564.blogspot.com/2009/06/global-mkts-will-help-to-break-14931.html
today is 55th day from recent bottom. chances of top formation are high. avoid buying.

stocks to watch

yesterday i discussed abt switching into defensive stocks like fmcg. yesterday we have seen good moves in fmcg stocks like colgate, hul, itc. these stocks can be bought now bcz we r reaching closer n closer to intermediate top.
thermax has given good upmove yesterday.closing was 397.can be bought for further upmove.keep stop loss as per yr convenience.

GLOBAL MKTS WILL HELP TO BREAK 14931

LOOK AT CHART
PROFIT BOOKING IS RECOMMENDED ON UPMOVE. TOMORROW WILL BE 55TH DAY FROM RECENT BOTTOM.

WATCH HOTEL STOCKS

watch hotel stocks like ind hotel, hotel leela for short term trading

7 MONTHS COMPLETED,12 WEEKS COMPLETED,UPMOVE IS ON,TIME TO BE CAUTIOUS

we have crossed 61.8% retracement lvl of fall from recent top of 14931 to 13500 and moved ahead and we are closer to recent top.as mentioned in last update now we will be in last part of upmove from 8k.we r in uptrend for 12 weeks ,next week 13th a fibo no.we r in uptrend for 7 months, june will be 8th month since bottom,again a fibo no.

daily rsi near 73.weekly rsi near 74.so we r getting OB. so risk reward ratio not in favour of buying for short - medium term.so better to book profits in all rises in coming days or to trade intraday only so we r not stuck with high priced shares.or move to low beta stocks in fmcg or pharma sectors like colgate,hul,itc,glaxo pharma,cipla.

as mentioned in last mail now 14931/15107/15580/16k. will be very very strong resistances.

CEMENT SECTOR SHOWING STRENGTH

cement sector is showing strength. short term buying can be done.

mkt bounces from support near 13500

market has taken support near low open level of 18/05/09. it was 13479.i had mentioned abt this pattern in mail

http://pankaj564.blogspot.com/2009/05/watch-lvls-of-1347913300.html . more over i had posted trendline chart yesterday.there also support was coming around 13500. with help of positive world mkts we have bounced today .we corrected by 1412 points from top of 14931. 50% and 61.8% retracement lvls come at 14225/14392 respectively.today's high was 14123.

 

if we cross14392 also and move ahead then we can assume that this upmove started from 8047 is not completed and we will cross

14931 and we can end 5th and final sub wave of 5th sub wave of move started from 8047 in coming days. we can see strong resistance at 14931/15107/15580 and 16000.

 

if we revrse from any of the retracement lvls mentioned above 14225/14392 then we can see further weakness and correction taking us below 13500 .