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Chat Transcript

22 Nov - 10:00 hrs

Ranak Merchant | Technical Analyst - Strategies, Sushil Finance

 

What are technical indicators saying?

Chat Transcript

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guest: I HAVE DLF AT 147 YESTERDAY TARGET AND STOPLOSS PLEASE
Ranak Merchant: DLF facing stern resistance in the zone of 147-155, 139 important support. One can hold with closing stop loss below 139, targets on break above the resistance zone would be 167.
guest: ASHOK LEYLAND AND IFCI TARGET AND STOPLOSS
Ranak Merchant: Ashok Leyland even in the recent rally was unable to cross above its 200 day ema and has reacted from near those levels. Currently trading just above support of 14.51, 16 would be immediate resistance. Break above 16 would see return of momentum towards recent highs of 19.
dkshyamal1: How you fill for today
Ranak Merchant: Nifty watch 5980-6030 zone for sustenance of any bounce back. Observe a 2 day close below 5980 as stop loss for trading positions.
guest: i want to know about the state trading corporation 6 month target
Ranak Merchant: STCI trigger above 172 and trading target of 191 above trigger level.
guest: RELIANCE POWER/RELIANCE CAPITAL TARGET BY 2014??
Ranak Merchant: Rpower looks good for accumulation purposes 95 would be the target for Rpower. Relcap find some support on its 200 day ema, dips can be used to accumlate the stock for a target of 429
guest: Dena bank target by 2014??
Ranak Merchant: Use any weakness in markets to accumulate mid cap psu banks. Dena Bank 50-53 zone to offer support, target would be near 64 levels.
guest: Amtek auto at 71 few days back . Can wait for 1/2 months . Suggest
Ranak Merchant: Amtek auto multiple bottoms near 58 on monthly charts from where a bounce till 50% fibonacci retracement of 74. Now in correction mode. 50 Day EMA offering some support. Hold. Stock can bounce till 71 (200 day ema) and if sustains beyond that 74-78 would be a resistance zone.
guest: can dlf move above 160 in this series--
Ranak Merchant: A move for DLF above 160 in Nov series appears to be difficult.
guest: Can I short Bank Nifty at current levels for intraday 50 points
Ranak Merchant: Bank Nifty intraday support 10660 (spot)
guest: ITC is Trading between 310-340 in last 6-7 months. I am Holding 3000 @ Price of IPO what should I do? How much it can go further? long term view or any Target? for 5-7 years?
Ranak Merchant: As FMCG stocks have seen a good run and now appear to be overbought and in a corrective mode, book part profits to reduce holding cost.
guest: hi, plz suggest somethin for HDFC buy at 638 woth??
Ranak Merchant: If have longer term view in HDFC continue to hold. For trading purposes, stock near support of 775, can exit if closes below 775 for a short term view.
guest: Hi, Please let me know whether i will hold Hindalco & M&M. Pravin
Ranak Merchant: Hindalco continue to hold, break above 125 would mark new momemtum. M&m watch above 965 for new move, hold current positions.
umeshcfa123: Can I short Nifty at current levels. If not then what strategy should I adopt?
Ranak Merchant: Watch 5980 nifty spot for support, if manages to hold, buy Call options.
peeyusharas: will hexaware and TVS motors go back to recent highs?
Ranak Merchant: TVS motor, stock now in consolidation post a goo run up, continue to hold. 55-57 target zone.
guest: icici bank nd pnb today tgt
Ranak Merchant: ICICI Bank if 1035 holds watch for 1054, support seen near 200 day ema of 1014. PNB support 515
guest: nifty future will move up
Ranak Merchant: Nifty watch 5980-6030 (spot) for support.
moderator: This chat has now ended. Thank you Ms.Ranak for sharing your views. Thank you to all the participants for posting their queries.
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