Category Archives: Momentum Calls

M&M – Selling Opportunity???

Currently Mah&Mah is trading near 930.

Technically, it has broken its rising trendline, and momentum is waning.  M&M witnessed sharp rally from 620 odd levels to recent 975; in last 4 odd months trendline is respected and prices witnessed bounce thereon, this time trendline is broken and it seems that prices will fall further.

Mah&Mah

Mah&Mah

I agree that long term investor will not agree with me, to go short on M&M because on broader level picture is still rosy, and I will totally agree with them.  What I see is trading opportunity to go short on M&M at current levels, keeping stop loss of 955, with 1st target would be around 890 levels.

Today Nifty gave Dark Cloud Cover, indicating weakness in Nifty.

Gail – 354

At current price Gas Authority of India Ltd is trading at 354.

Technically, stock is trading very close to its Major 200 Day Simple Moving Average (DSMA) since from few days.  Momentum oscillator MACD is trading with Bullish Convergence, whereas ADX has reached 19 levels, which indicates that momentum has not picked up from last few days.

GAIL - 354

                                                            GAIL – 354

I see here a buying opportunity, as MACD is about to reach “0” line from below, and I expect momentum to pick up gradually.  Also stock is just trading below 200 DSMA, so as momentum will pick up stock will shoot up.  On flipside, if this hypothesis goes wrong than, it is very much possible that stock will move down quickly, and to support that fact we can see Death Crossover taking place (50 DSMA crossing 200 DSMA from above).

Keeping above things in consideration, I advise to initiate long above 360 level keeping stop below 349, eventually I see prices to test 385+ levels.  Risk-averse traders can wait for close above 360.

(PLEASE READ DISCLAIMER BELOW)

 

EQUITY MOMENTUM CALLS FOR 18/12/2012

Recomm Scrip Last Close BPL-1 BPL-2 Stop Loss Note
SELL REL INFRA 515.5 495 485 521 Sell Below 510
SELL BPCL 344.9 332 322 355
SELL SIEMENS 669 650 642 685 High Risk
SELL WIPRO 370 355 349 376 High Risk
SELL ONGC 257.8 250 246 261
Please don’t forget to read disclaimer attached below

Dont try to jump in the trade, if Nifty is turning positive.

As such, i sense that most of the indices are trading near make or break level, and today’s announcement will drive the market.

 

EQUITY MOMENTUM CALLS FOR 17/12/2012

EQUITY MOMENTUM CALLS FOR 17/12/2012
Recom Scrip Last Close BPL-1 BPL-2 Stop Loss Note
SELL CIPLA 403 392 385 410  
SELL BHARTIAITEL 312 300 295 320  
BUY RELIANCE  840 855 868 828 High Risk
SELL RANBAXY 498 491 480 506  
BUY PNB 830 855 862 818  
BUY WIPRO 375 385 390 370 High Risk
Please don’t forget to read disclaimer attached below

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Its time to go short on Banks…

Yes, brace up my friends, banks are loosing up momentum, after last wonderful rally.

Bank Nifty at CMP – 12301 is showing initial sign of fatigue.  Any aggressive trader can take short position in bank nifty keeping a strict stop loss of recent swing high or 12480.

Stock specific:-

ICICI Bank – 1113

Sell strictly below 1100 (take position not on spikes, be smart to initiate position)

Stop Loss – 1130,  with a target of 1050

SBIN – 2294

Sell below 2290 with a stop of 2330

Bpl-1 2225  Bpl-2 2150

(Above observations are for educational purpose only)