Godrej Ind - Bullish & BEL - Bearish

Godrej Ind - Bullish Trend


BEL - Bearish Trend

NYMEX Light Crude Oil - Bearish Outlook

Nifty & MCX Crude Oil - Bearish Outlook

Nifty - Bearish Outlook

Crude(MCX) - Bearish Target 4000 - 3800

India Infoline - Bullish Outlook

Aditya Birla Nuvo - Bullish Outlook

Hind Zinc - Bullish

Ranbaxy - Target Attained

Ranbaxy - Bullish Outlook

Nifty - Wave Count (Bearish Outlook)

Pantaloon Retail - Bullish Outlook

Patel Eng - Bullish Outlook

Silver ($) - Elliott Wave Analysis

S&P 500 - Bearish Outlook

Canara Bank - Buy (07-03-11)

Canara Bank - Buy on dips to 604 - 590 range
Stop loss 560 (Closing basis)
Target - 690 - 705 - 720

Hero Honda - Buy

BSE Oil & Gas - Inverted Head & Shoulder pattern

IVRCL Infra - Buy (77)

HCC - Buy (37.20)

The above weekly chart shows the bullish outlook for short term. The stock retracing to 38.2%, 50% and 61.8% levels of fall from 72.80 to 31 which is corrective Impulsive leg and the retracement band placed around 47 to 57 range. The bottom of 33 - 28 range is the good support for bulls on closing basis. The stock exactly took support and started bounce back from 31 – 33.60.

The correction got completed on this stock and the stock preparing for the next move. If any chances of extension even it require pullback to the retracement bands.

The daily oscillators are in heavily oversold and recovering the oversold zone with positive divergence. The candle stick pattern of last few days indicates the short term trend reversal on the charts. Minor breakout spotted on daily charts with reasonable volume.

Momentum indicators are supporting our view for short term. The current pullback likely to continue for the Target of 47 - 57 bands.

Dhanlaxmi Bank - Buy (112)

The above weekly chart shows the bullish outlook for short term. The stock retracing to 38.2%, 50% and 61.8% levels of fall from 213 to 94 placed at 140 to 168 range. The bottom of 94 - 97 range is the good support for bulls with high volume which is top of 12/09/2008. The stock exactly took support and started bounce back from 94. Short term support level placed at 108 – 103.

The daily oscillators are in heavily oversold and also started recovering from there with positive divergence. The candle stick pattern of last few weeks indicates the short term trend reversal on the charts.

Momentum oscillators and the volume are supports our view for short term. The current pullback likely to continue and heading for the Target of 125 to 140 band. On outer extent stock have the chance to move in the band of 140 to 168 ranges also.

Nifty - Elliott Wave Analysis