Chat Transcript

11 Jun - 10:00 hrs

Hitendra Vasudeo | Technical Analyst

Smart trading strategies

Chat Transcript

guest: Sir, nifty

Hitendra Vasudeo: Nifty is in a process of correction of the last rise from 5477 to 6229. Retracement levels are placed at 5853 and 5764. the level of 5853 has been violated. therefore the expectation will be in near term slide to 5764. traders short may keep the stop loss at 5879. these levels are as per nifty spot

guest: sir, what is your view on GMDC

Hitendra Vasudeo: the stock is likely to slide towards 122-100 range. trend is down on monthly chart and may turn up on rise and close above 146. till 146 is not crossed objective remains to exit long and sell.

guest: prospect of bank nifty before the RBI credit policy,i bought 2 calls of bank nifty 12500 june series.

Hitendra Vasudeo: Like, Nifty, - Bank Nifty is in a process of correction of the rise from 10897 to 13414. the retracement levels are placed at 11853 and further at 11429. resistance will be at 12031-12152. till 12152 is not crossed the bias remains to test lower range with volatility. traders short can keep 12152. these levels are as per Bank Nifty spot. view remains for correction till the trend is now reversed

guest: hi .. can i take risk of buying king fisher airlines at this price

Hitendra Vasudeo: avoid

guest: Sir, Can I enter in Bajaj Electricals, Wipro & Infosys now for 4-5 months or more?

Hitendra Vasudeo: bajaj electrial trade long above 176 as resistance needs to get crossed. weakness will continue below 160. wipro - a pullback to 360-371-388 could be seen but avoid. infoys -avoid

religare13: Sir, I got 300 DLF @216 & 1000 Educomp Sol. What to do now?

Hitendra Vasudeo: dlf- trend is down and will test lower level of 170 first. if sustains below 170 then 150-124. resistance will be at 205. overall the level of 216 will come but first lower level will be tested. if you are long term investors then wait for 170 , 150 and 124 to accumulate and wait. on rise and close abvoe 205, pullback rally may emerge. for the time being it is exit long and sell on rise for traders with a stop loss of 205. educomp soluation- NO SOLUTION CAN BE PROVIDED FOR STOCK MARKET PEOPLE AS THEY TRY TO PROVIDE EDUCATION SOLUTION. EXIT AS EARLY AS POSSIBLE

guest: Sir, Ihv 1200 Spice Jet@38 & 200 HPCL@312 . what to do now?

Hitendra Vasudeo: SPICE JET- BROADLY EXIT long or keep sl 25 to hold long. the rally can be seen above 51 and till then broadly exit long is the outlook on rise and rallies. HPCL- expect lower level of 243 or below to be tested in due course of time. use rise to exit long and sell with near term to short term stop loss at 325. a close above 325 might resume the short term up trend but till then outlook remains to exit long

guest: sir,can reliance industries go up to 820 in this june series,thank you.

Hitendra Vasudeo: the hopes will fade away if falls below 779. a rise above 803 may bring some hope. overall look to exit long at the earliest.

religare13: Sir, I got 300 Dlf @216 ; 1000 Educomp Sol @ 43 ; 25 ICICI Bank @ 1143. What to do now? Please give me a answer. Thanks a lot.

Hitendra Vasudeo: hello, this reply has already been provided. for dlf and educomp. icici bank- exit long and sell on rise with a stop loss of 1167. expect lower level of 1064 in due course of time. the view given is applicable as long as the stop loss mentioned is not violated.

guest: sir, i purchased mcx @ of 913.50 yesterday,what is future of this stock?

Hitendra Vasudeo: mcx- hold long position with a stop loss of 879. use rise to 950-1014 to take profits. mcx movement are not trust worthy.therefore take profits at higher levels

arka.mitra: Should I buy Sun Pharma now ?

Hitendra Vasudeo: sun pharma- objective remains to buy and on decline. correction to 923 or below can be for buying and accumulation. Buy now and keep room to accumulate at 923 and 761 if the opportunity arises. Expect 1152 or above to be tested in due course of time with volatility.

guest: sir, what is your view on India Glycols

Hitendra Vasudeo: india glycol- support zone is at113-100- so as long as it remains above 99 hope remain for the rise. but the trend is down and may turn up if the close is above 151. for near term to short term. objective can be to exit long till 151 is not crossed.

guest: I am holding 3500 Subex shares at 16 rupees and 150 Spanco at 30 rupees. What is the future of these stocks. Can i do average or will i get my buy price.

Hitendra Vasudeo: subex- the drift will continue till the trend does not reverse. reversal can be seen above 11.70 and till then the objective remains to exit long and sell on rise . currently cannot think of 16 coming unless vertical rise above 11.7 is seen. SPANCO- no idea- from the chart- trend is down and objective remains to exit long.

rambabumuppuri: hello sir, is it better to purchase BPL and MAHINDRA SATYAM shares

Hitendra Vasudeo: BPL- all hope of rise will fade off below 12.90 objective will be to avoid. or if for whatever reasons if you want to buy then keep sl 12.90. till 25 is not cross on closing objective remains to exit long. Mahindra Satyam- exit long till 132 is not crossed. traders if long then keep stop loss at 101. both avoid from my side. Mahindra Satyam can look at in on breakout above 132

rambabumuppuri: hello sir, is it better to purchase BPL and MAHINDRA SATYAM shares

Hitendra Vasudeo: already replied -please check for the answer

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