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TREND
SHARE ANALYSIS REPORT
 
Vol. 778 dt 18’5. .2009 –23.5. .2009
TRUTH
:
“IF THERE IS A LARGE MOVE ON SIGNIFICANT NEWS, EITHRFAVORABLE OR UNFAVORABLE , THE STOCK WILL USUALLYCONTINUE TOMOVE IN THAT DIRECTION”-
Richard driheaus
 
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 NSE CASH(3671)
RESISTACE: 3717, 3787, 3829,3891,3967a nd 4012SUPPORT; 3623, 3564, 3505, 3452,3377 and 3302.MOVING AVERAGES
Index 12 dma 48 dma 200 dma3671 3588 3293 3421Index has been trading above all three moving averages and directions of these movingaverages tend to be in the upward direction which augur well for the current rally. Further 12 dmasupported the index during the correction and index is poised for upmove. As 12 dma tradesabove 48 dma short term and medium term trends are up only.
OSCILLATORS POSITIONS:RSI
:63: : RSI ,after making divergent with index has come out of overbought position. But it hasbeen trading above its neutral position. As such some more steam is left in the rally. Failure tomove above previous peak at 82 may indicate the up move is in the final phase i.e. 5thwave.
MAC
D::127/137: : MACD has been trading below its trigger line the positive zone. It has beenin the selling mode only. Upmove above 137 may initiate fresh uptrend which will be short lived.
WAVE ANALYSIS:
Wave I- 2252- 3240 ; Wave II :3240-2542;; Wave III- 2542-?Wave III may end around 4133 in the long run.Wave III break up details:Wave 1-2542-2832’ Wave 2- 2832. 2771; Wave 3=2771- 3510 ;Wave 4= 3510-3296 ;Wave 5-3296-?Wave 5 may end around 3927.Wave 5 break -up details:Wave 1-3286-3517 ;Wave 2= 3517-3351; Wave 3= 3351-3717; Wave 4= 3717=3608’;Wave b=3608-3711;WaveC- 3711-(3534);Wave 5- 3534-?Wave 5 may end 3765 or 3903.
 
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TURN DATE: 18.5.2009 or 22.5.2009ACTIONS:Stop loss for long position should be 3534. Up move above 3717 may take the index to3755, 3825, 3891, 3927 and 3975 Avoid buying above 3927.Support: 3623, 3564, 3505,3452 and 337.
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NSE FUT” :RESISTANCE
:.3734, 3783,3837,3905 and 3967and 4046.
SUPPORT:.3633, 3571, 3518,347, 3383 and 3320.Wave Analysis: .Wave III break up details:Wave 1= 2525- 2830 ; Wave 2= 2830-2757; Wave 3- i- 27571-3140;Wave ii-3140-2951;Waveiii=2951- 3514;Wave iv- 3514-3288;Wave 5- 3288-?Wave 5 may end around 3867Wave 5 break up details:Wave 1- 3288- 3519 ;Wave 2- 3519-3342; Wave 3- 3342- 37528; Wave 4- 3728-3537; Wave 5-3537-?Wave 5 may end around 3768 3876 o r 3914TURN DATE: 18.5.2009 or 22.5.2009ACTIONS:Stoploss for long position should be 3617. Upmvoe above 3705 may take the index to3772, 3850,3905, 3967 and4046. Avoid buying above 3914.Support; 3604, 3531, 3467,3405 and 3363.----------------------------------------------------------------------------------------------------------------------------------SCRIPS FOR INVESTMENTS:. HIGH PRICED:
ICICI BANK: Buy above 582 SL 571 TL 591,613, 637,675 and687.INFOSYS: Buy above 1606 SL 1582 TL 1703,1725 and 1779.RNRL: Buy above 61 SL 58 Tl 66,72 and77.TATA MOTORS: Buy above 271 SL 266 TL 282,296 and 308.JSWSTEEL; Buy above 427 sl.418 TL 454, 469,493 and 515.PUN LOYD; Buy above 136 sL 132 TL 141, 152 and 161.
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