Saturday, September 13, 2014

NIFTY View For Week 15-19 Sep 
We had indicated Nifty to touch 8200 and a consolidation thereafter. Last week Nifty made high of 8180 and consolidated there after. Mixed clues from global market halted Nifty's upward journey. Nifty is currently trading range-bound.                                                                                                                                    
 Technical Overview:  The week gone, Nifty has touched high of 8180 and low was near 8057. Nifty has traded in considerably narrow range in last week. Last week was a Nifty consolidated after expansion till week ended 5th Sept. We need to see whether this consolidation is a start of correction. The technical indicators like MACD are looking exhausted. Bulls may take rest for some Period.  
Short Term (Few days to a Week) : On hourly chart Nifty continues to have support in the range of 8000-8027. On hourly chart lower top formation is now confirmed. Nifty has first resistance at 8127 and then at 8150. We assume that resistance at 8150 may not be broken during the week to come. Short term traders can go short in Nifty near its resistance at 8150.  
Medium Term (Few weeks to a month): Nifty has formed a resistance in the range of 8150-8180. We are in a consolidation and a possible start of correction. However there is no need to be panic. The correction may not come about suddenly. We assume Nifty may not break this resistance immediately and continues to drift lower.                                    
Long Term (Few months to Year): Markets continues to be long term bull run. As mentioned above, if we  get a correction, this can be a good buying opportunity fro individual fundamentally strong stocks from investment perspective. 
Image                                                                                                                               
 View on Sectorial Indices:  
Banking sector is looking good on charts. Specially PSU Banks are expected to well in week to come. Auto and FMCG also giving some short term buying indications. Wait for correction to be over in IT. Pharma is offering buy on dips opportunities. Energy, Infra, Realty, Media are still looking weak. 
To receive this Newsletter by email drop us a mail on bonvistaplanners@gmail.com                                                                                                                                                                                                                                                             
Recommendations of the week: 
AMBUJACEM (Buy): Buy Ambuja Cement near 215 for target of 219. Maintain stop loss at 212. 
DABUR (Buy): Buy Dabur India near 223 for a target of 227. Maintain Stop loss at 220 
HDFC (Buy): Buy HDFC Limited near 1050 for Target of 1066. Maintain Stop loss at 1038.                         
For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com

No comments:

Post a Comment