GVK Power . near break out!

The Nifty opened above the resistance level indicated on Friday as China let its Yuan appreciate against the dollar. . . The world markets seems to have made a U turn last week and this was clearly visible once the 5150 level weas broken upwards. .

I am not suprised by the rise, but I am surely surprised by the speed of the rise... Intraday traders (who have attended my workshops) surely would have got nice returns today. . And DLF suggested here at Rs 266 is almost near my second target (Rs 300)

Well,GVK Power was in news today as it gave a huge order to L&T.



The scrip has been witnessing some volume build up recently and I expect that a break above Rs 46 should give an upmove towards Rs 54 - 58 in medium term.

If you buy on break out, keep a stoploss near Rs 42/-

I was watching various midcap scrips today which seem to be readying for upmove in coming settlement. May be we will discuss a couple of them here....

Happy Trading

CA Rajiv D Khatlawala
www.investogyan.com

Nifty - What now ?

The Nifty gave a 'correction' and it seems the Market Breadth was quite negative - 1:3. Some of the index heavy weights have given sell signals in intraday.

Watch the 5230 level in intraday and 5205 on daily charts... Keep them as SL for long positions. Resistance on upside is at 5300-5310.



World markets too are range bound with the Euro recovering against the USD. It has bounced back above 1.24 (as indicated in a couple of blogs earlier).

Many midcaps are positive / turning positive and may provide a good move.. In fact for one stock , we had done a 'Techno-Fundamental' analysis yesterday (in my practical fundamental analysis batch). Seems quite interesting..May be I may write about it in my coming blogs. . .

Happy Trading

CA Rajiv D Khatlawala
www.investogyan.com

Balrampur Chini - sweetening . ..

I presume you all could make good trading profits out of Rpower/DLF... Even MTNL covered a few days back , has been moving with volumes today. . . Well, readers can at least interact in this regards. . .

The Nifty seems to be 'uncomfortable' near 5250 levels and I expect major support to be 5180... Even derivatives (F&O) activity is suggesting correction. .

One side counter which may be coming out of hibernation is Balrampur Chini.



A break above Rs 84/- should give us target at 98-100 in medium term (few weeks) ... Keep a stoploss near to Rs 77/-

A few stocks discussed recently (midcaps) have given nice movements .. Stick to midcaps.

Happy Trading !

CA Rajiv D Khatlawala
www.investogyan.com

Euro Fears recede . . .

The Nifty gave a good upmove as indicated yesterday and it tested the indicated level of 5220.... And all of you who read the blog and bought DLF and RPower ... would be sitting on good profits ... Well, a lot of midcaps have given good buying signals ...

The past couple of days financial market movement seems that suddenly "All is Well" with the markets ! And Indian markets have conveniently ignored the high Inflation and its impact on the economy... (I am going to discuss this in detail TODAY in my Advanced Fundamental Analysis workshop)

The Eurozone too seems to be bouncing back after the Euro was beaten up below 1.20. In fact last week when I watched some 'experts' discuss the possibility of Euro-Dollar parity (1:1) I was sure that the Euro will go the other way and that it is now actually ready to bounce !!



The Euro has given a buying signal and it seems that a break above 1.23 (curr price 1.2250) should give the necessary boost towards my target of 1.2550 and also beyond that.

Happy Trading !
CA Rajiv D Khatlawala
www.investogyan.com

RPower - powering ahead !

Friends, the Ahmedabad Seminar was lively and went well, If any of you could attend, I would like to have your feedback . . .

Today's market too went well. The Nifty close of 5180+ is a positive sign and if it sustains above 5225 , the better.

One stock on my radar was Rpower and that gave a good movement today.

RPOWER has broken above it's resistance level of Rs 165 and volumes , though not very large, are on higher side. A follow up buying tomorrow should be a good sign. .



The break out was at Rs 165 (I had discussed this entry level in my recent market analysis during the current workshop). Use price down move to buy at Rs 165 - 166 with a stoploss placed at Rs 150 for a target at Rs 190 - 200 in medium term (few weeks)

Happy trading . .

CA Rajiv D Khatlawala
www.investogyan.com

DLF . . on good grounds !

The Nifty gained impressively after remaining sideways in intial hours. I am sure after one-two hicups, my intraday trading participants caught the rally ... Watch 5120 tomorrow...

One stock which was the erstwhile favorite but out of favour recently is DLF . . It seems that like RCom and Idea, it has also taken support at its previous lows near to Rs 254/-.



Currently quoting at Rs 262, I expect that a break above Rs 266 should lead us to Rs 284 initially and then to 300/- (if markets sustain).

Keep a stop near to Rs. 258 /-

Incidentally there are quite a few stocks which are turning positive (side counters) which may go up irrespective of market moves ... We shall take them up in next few days.

Happy Trading !

CA Rajiv D Khatlawala
www.investogyan.com

Ranbaxy . . not so healthy!

The Nifty gave good intraday movements and finally closed near to its open... Watch the 4960 level on downside and 5055 on upside. . .

Ranbaxy seems to be peaking out ... While it is hovering currently above Rs 400 level, we may expect that a break below 400/- could mean a longer down move for the stock.



On the daily charts, it is creating a H&S pattern and the pull back is currently in progress. . .

(I urge my workshop participants to compute the likely targets of the down move , if the Rs 400 level is broken!!)

Specific stocks are getting ripe for a directional move .. Watch out!

Happy Trading !

CA Rajiv D Khatlawala
www.investogyan.com