SBIN

SBIN closed near its resistance of 1633. Banking stocks have corrected in range of 30-70% in past 2 months on concerns of credit growth. Banking are the front runner of economy and hence they are one to lead the fall or rise in Nifty.
Looking at chart of SBI selling pressure has abated as stock is boucing as soon as it go near 1588-1600 levels giving indication strong hands have started accumulating this and in matter of time where it will show a rally.

Buy above 1637 TGt 1649,1669,1692 and 1714.
Above 1714-15  …

Below is my Interpretation of FII OI data Sheet for 2-Jan-11.

1. FII sold   18,284 Contracts in NF worth 419.15  Cores in Index Futures with Open Interest increasing  by 5958 contracts.
2. As NF  was  up  by 16  points  with Open Interest increase by  FII . Rise  in OI with Rise  in price means  shorts were squared off as we know FII are carrying shorts or they have added more short in today’s small upmove. As FII Volumes are quiet low so its difficult to intrepert at this juncture were it shorts …

Maruthi Udyog

 
Maruti is forming descending triangle formation with support at 911.Break of 911 will lead to further weakness in Maruti .Close below 910 will lead the gap filling of May 09.
Gap is present from 848-910,Close below 910 expect the stock to move till 848 within this week.
Sell below 910 Tgt 900,894,877 and 848

If 910 Holds some how

Buy above 923 Tgt 935,951
 
Axis bank
Axis Bank has been on waterfall decline 1600 to low of 803 which is almost 50% decline.Stock is near its strong support level 796-800. Holding the same some relief …

Happy New Year 2012 to all Site readers.

 
2011 came to an end on dismal note with Sensex recorded its second worst performance in the last 14 years, second only to 2008 .BSE and Nifty is down 24%  making it one of the worst performers in the global stock markets.  The real pain is in DEFTY ie. Nifty is Dollar term which is down 43% attributing to the Rise in INR of 19%. Foregin investor have seen there portfolio value eroding by 43% which has left a deep black hole in …

As 2011 come to an end let me share an important aspect of trading
Keeping losses small in order to avoid huge losses
Why is that so?
From a psychological point of view nobody wants to sell at a loss as in most situations in life making mistakes and admitting them is associated with being a loser. That’s why most people prefer sticking to a losing position. They don’t want to be labeled a loser. So they start hoping their position will turn around and end up being a huge winner. The stock …