Tips on stock picks and trading strategies for Aug 12 2016

There was a bit of bounce back in the previous session and a little bit of strength is expected in today's session but it will remain a sell on rise market unless and until the benchmark index Nifty trades conclusively with good volumes above 8656. The immediate support is at 8562 below which the bears will take control. Hence as for today, the action may be construed as a tug of war between bulls and bears within the range 8562 to 8656. Bulls will take charge if they pull it beyond 8656 which will bring about a round of short covering pushing Nifty further up north.

The day traders may go long if the Nifty trades above 8577 for a target of 8636. Otherwise they may short the index to cover at 8555.

The short term traders may go long if it trades above 8656 and go short if it trades below 8562.

The mid term investors may consider selling on rise.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Tips on stock picks and trading strategies for Aug 11 2016

The immediate support of 8641 was breached in the previous session and therefore the bears have won an edge in the current tug of war. The Nifty is expected to loose some more ground but whether the bulls will make a comeback depends mostly on the support of 8455. The rock support for the current bullish bias is at 8233. If 8233 is taken out then the market will weaken and give up majority of its gains with no hope for the bull camp.

The day traders may go long only if the benchmark index trades above 8615 for a target of 8660. Otherwise they may short the index to cover at 8530.

The short term traders may utilize any rise to sell their long positions, ie if they still have longs and start making short positions with stop loss at 8675.

The mid term investors too may start selling all the key stocks we had advised them to buy and hold in every rise. The market, as of now, doesn't look like being in a buy in dips kind of trend.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Tips on stock picks and trading strategies for Aug 9 2016

The Nifty is in a bullish mood as it absorbed all the profit booking pressure and closed above 8700. The immediate support is at 8641 and the index will continue in its upward march if it manages to remain above 8641.

The day traders may go long if the Nifty trades above 8715 for a target of 8736 or 8753 as the case may be. On the flip side they may short the index if it trades below 8705 to cover at 8685.

The short term traders may add longs in Nifty with stop loss at 8600. They may also consider going long in Hindalco with stop loss at 143 for a possible target of 162.25 which we will revise if it remains bullish in a subsequent post. But stop loss should be strictly adhered to.

The mid term investors may consider buying ITC at 246.15 and Yes Bank at 1257.05 and 1248.70 in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Indian Markets for the week August 8 2016 to August 12 2016

The Nifty bounced back above the resistance of 8642 thereby attracting bulls in the coming sessions subject to the benchmark index treading above the immediate support of 8580 in which case the next target should be 8716, 8745 and 8822. However, if the Nifty again breaks the support of 8580 then one may expect an all out weakness with further supports being at 8445 and 8225.

The day traders may go long in Nifty if it trades above 8655 for a target of 8696. They may however short the Nifty if it trades below 8625 to cover at 8585.

The short term traders may buy into weakness in Nifty with stop loss at 8580.

The mid term investors may consider selling Indusind bank at 1208.65.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Tips on stock picks and trading strategies for Aug 4 2016

The Nifty did indeed tank as expected and unless there is a bounce back in the upcoming session, with the support of 8566 breached, we are headed towards 8450. If 8450 is taken out then one may mark the end of the current bull phase and the market will slip into the hands of bears for a short time and all trades will have a negative bias with steep cuts and deceiving bounce backs. The supports thereafter are at 8226 and 8096.

The day traders may short the Nifty if it trades below 8533 to cover at partially at 8505 and then if possible at 8470. They may play long only if it trades above 8570 for a target of 8590.

The short term traders may start building short positions in case of bounce backs with stop loss at 8642.

The mid term investors may wait on the side lines as we believe that quality stocks will be available at attractive rates after a session or two. If any opportunity arises intra-day, they may look for this space.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Tips on stock picks and trading strategies for Aug 3 2016

The benchmark index, Nifty has weakened in the near term and the immediate resistance is at 8640 and then 8665. The immediate support is at 8591. A breach of support of 8591 will attract bears who will make Nifty test the support of 8566 and 8450. However, if the Nifty trades above 8665 with good volumes, the chances of which are remote, then bulls will return taking it to new 52 week highs.

The day traders may short the Nifty if it trades below 8527 to cover at 8566. They may however consider going long if it trades above 8630 for a taregt of 8640 and 8665.

As for the short term traders, we presume that they must have un-winded all their long positions in Nifty in the previous session as per our advice in our previous post. If they haven't already then they might as well book profits in their long positions in Nifty at around 8640 or thereabouts and wait and watch for the day.

The mid term investors may stay on the side lines before a clear picture emerges. We presume that they have already sold out all the stocks we had advised them to sell from time to time.

Tips on stock picks and trading strategies for Aug 2 2016

As we had mentioned in our weekly post, a breakout did come in the previous session The sudden sell off in Nifty has weakened it considerably and the day traders may consider going long in the bench mark index only if it trades above 8620 for a target of 8645 and 8665. They may short the Nifty if it trades below 8605 to cover at 8583.

The short term traders may add further long positions in Nifty in case of weakness and raise their trailing stop loss to 8566. They may however consider booking profits at around 8665 and 8700 levels.

The mid term investors may consider buying Ambuja cement at 261.85. They may also consider getting out of Larsen and Toubro, in case they bought some recently by booking loss at whatever price they can get. Chances of its breaking out in positive ground are remote.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.