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

Weekly Buy Recommendation (31-01-11)

REL Infra - 724.55 (CMP)
Buy above 730.5 with a Stop loss of 697 & Target 772 - 795 level.

ONGC - 1132.90 (CMP)
Buy above 1150 with a Stop loss of 1100 & Target 1215 - 1233level. LIC Housing - 176 (CMP)
Buy @ 170 - 168 range with a Stop loss of 155 & Target 207 - 225level.

Jindal Steel - Bearish Momentum

Chana - Bullish Outlook

Hexaware - Bullish Outlook

The above weekly chart shows the bullish outlook for medium term. From Feb 2009 volumes were started increasing with rise in price which indicates buy positions were strongly added in the stock. The stock moves within the rising channel which is vital bullish structure. Overall the stock moving towards 100% projection level taken from 20.50 to 102.75 the levels are placed at 145 for medium term perspective.

In outer extent if the stock moves above 145 then bullish outlook continues with the break out of upper channel line, and it heading toward 175 - 195 which is 138.2% and 161.8% level of above mentioned projection. Channeling and wave suggests the stock is bullish for medium term to long term.

As the daily & weekly oscillators are in heavily overbought the price and indicators require mild cool off in forthcoming days therefore buy the stock from now and accumulate if any dip comes up to 102.

Strategy:
Buy the stock at CMP for the Target of 145 – 175 – 195.
Accumulate if any dip comes up to 102.
Vital support placed at 102 - 95 levels.

Commodities - Medium term outlook

Aluminium - Bullish


Copper - Bullish

Chana - Bullish

Crude Oil - Bullish

Weekly Buy Recommendation (06-12-2010)

Cipla - 370.45 (CMP)
Buy at CMP with a Stop loss of 350 & Target 414 - 425 level.

BEL - 1734.75 (CMP)
Buy above 1760 level with a Stop loss of 1670 & Target 1880 - 1925.

Weekly Buy Recommendation - (25-10-10)

3I Infotech- 66.60(cmp)
Buy @ CMP with a Stop loss of 62 & Target 76 - 80

Ankur Drugs- 131.75(cmp)
Buy above 135 with a Stop loss of 126.5 & Target 150 - 160

Nagarjuna Fertilizer - 34.60(cmp)

Buy @ CMPwith a Stop loss of 33.25 & Target 37.60 - 39

JM Financial - 40.75 (cmp)
Buy @ around 39 - 38 range with a Stop loss of 37 & Target 50 - 55

Ramco Systems - Buy (Short to Medium term)

Ramco Systems - 142.40 (CMP) 18-10-10
Buy between 139 - 134 range with a Stop loss of 128 & Target 180 - 240