Nifty and Stock Specific Trading Ideas

Dear All,

Hope all of you had a rocking week.

Coming to the current week which at last is not an truncated week,Market has posted phenomenal 6 weeks Gains in arow which i have never seen in my trading carer. So What's NEXT !!

India VIX is at 50.12 so be cautious on longs you are holding as Higher VIX there is a good propabality of correction in near term.

Technically Speaking for Nifty Weekly Chart Click on Below Link.

http://3.bp.blogspot.com/_iAG8XurigTA/SemNHKEXkrI/AAAAAAAAASk/7_aoJVOsozU/s1600-h/Nifty+April+20-24.bmp

Due to call Writing at 3500 and 3600 Levels we will see an Stiff resistance at 3520 Levels and support is at 3312 3250 and 3150 Levels.So what i would suggest is to buy at declines not to jump in bandwagon now and repent later.

Stock Specific

Reliance as posted previously Reliance faced a resistance around 1825-1835 and it fell and closed at 1716 Now support is at 1685 and 1655 and 1607 So be a buyer on dips and short at 1811 Levels.

Hindalco Taken support around 55 Keep a sl of 52 and take long for a target of 59 and 63

ROLTA sell around 98 sl 110 tgt 80-75

Ganesh Housing Stock closed above 20 DMA CAn see a tgt of 65 and 72 SL 49

Core Project keep a Sl of 85 and intiate longs for a tgt of rs 150 in 1-2 months frame.

Unitech above 56.25 for a tgt of 60 63 and 65 Support at 45 and 38 Buy on declines or if crossed and sustained above 56

Regards,
Bramesh

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