NIFTY- Now more risk at upper side.

NIFTY DAILY: The Upper move which strted from mid FEB is continue and nifty is now near to it JAN high. One main point in it ,In March it never traded below 7 EMA. On Upper side it has resistance line going upwards ,but oscillators are in overbought zone. Yesterday it not crosses the week high and came back in end session.

Coming week will be choppy for nifty and then it may move downward. If closses below 7 EMA will create panic selling.

Short Sell after budget. The new downfall.

We are not bullish in Metals,Sugar & Auto stocks.

BAJAJ AUTO Below 1696 be short on this stock for target of 1654-1636. Stop Loss 1732.

ABAN Below 1158 this stock will kiss 1104 and lower. stop loss 1203.

TATA MOTORS Below 658,Stock will touch 630 ,604.SL-688.

TATA STEEL Below 541-504 target. Stop Loss 564.

NIFTY SPOT Below 4770- will see 4674.SL- 4845.

STOCK FOR SHORT-SELL For Future traders or exit Long

ALL given Stock are on GIVEN LEVELS.

1 JINDAL STEEL: Close Below 600,immediate target 583.
Close Below 578, Target 552.Stop Loss 622.

2 REL INFRA : Close Below 980 or trade below. Immediate target 965. Close Below 950 will take it 880. STOP LOSS 1008.

3 Bharat Forge : Close Below or trade below 233, will take it 216.

4 NIFTY SPOT Close Below 4670. Immediate target 4565. SL 4757.

5 GE SHIPPING Close Below 250. Immediate target 235-225.SL:263

6 RCOM Close below 158. Ultimate target 134.SL above 171.

7 ULTRATECH CEM Close below 985, will take it to 936.Stop Loss 1002.

8 ORCHID CHEM: Close below 163.immediate target 145.

9 BHUSHAN STEEL : Close below 1592, Immediate target 1552,
And Close below 1543, will take it to 1480. Stop Loss 1623.

10 HDIL Close below 284. immediate target 270,253.STOP Loss 302

11 INDIA INFOLINE Below 108,immediate target 96-88. STOP Loss Close above 120.

12 CIPLA Close below 300,immediate target 286. SL 314.

13 TITAN Close below 1696 will take it 1664.SL 1740.

UPDATE-19th Feb

NIFTY SPOT:on 17 th feb ,i advice ,if nifty goes below 4895 will see 4851-4842.

Currently trading at 4828. Just see how it gives 50 points in just on 2nd trading day.

Nifty-Coming days view

NIFTY SPOT: Close 4914. High 4929.

Nifty has strong resistance at 4940-50 level.

Support exist at 4895.

If nifty Goes below 4895, we can see panic selling upto 4852-4841.

Nifty- For 8th Feb

Nifty: Last Close 4757.

Resistance: 4776-4788

Above this Level : 4824-30.

If survive 4830 for some time,then you can see 4865.

My Ultimate target is 4920.

Major Support: 4674.

Nifty View

Today world indices were down around 2 %.

Nifty Spot: Todays Low 4692.Close 4718.

Crucial Support: 4688. Below 4688 it will see 4636.

Resistance: 4795-4808. Above 4808- T 4844.

Market And Nifty View

Earlier in my blog ,stated that there will be second round of selling will come with high density. Time has come.As i am writing this,Europe indices are down by more than a percent and Dow and Nasdaq are also down by more than a percent.
Gold,crude is also down by around 2%.
Negative news have been flooded and now there is no room.
DOw has support at 9975. This is the last chance for revival.

Why Dow?All other indices are tail of dow.

NIfty: Downward pressure remain on nifty and it can test 4760.

For tommorrow Nifty can show strength only above 4872 level.It has to hold that level for more than hour.