The Indian Stocks (TIS)
Joint Newsletter of Trade4Profit and The Indian Stocks (TIS)
612 , Shivalaya Building , "A" Block , No 187,
Commander-in-Chief Road , Egmore , Chennai - 600008 (INDIA)
Tel: 0 - 9962639964 / 0 - 9381413031
Website : www.theindianstocks.com  Email : sms.tis@gmail.com

Trade4Profit Website - : www.trade4profit.org  Email : trade_4profit@yahoo.com

04th May 2009

By continuing to read this Newsletter, you have read and agreed to the disclaimer posted at bottom of this Newsletter and at www.theindianstocks.com

Daily Newsletter for Day & Swing Traders


Technical Outlook (04th May 2009)

As already mentioned yesterday "Nifty has given multiple bearish breakouts from 2 different patterns setting target of 3080-3150 in coming days. However, technical recovery to 3440 is not ruled out since many stocks are oversold & ripe for recovery. It may also be noted that any close above 3520 will negate the short term bearish outlook of the market. ". Nifty opened on a positive note since Asian markets were trading on a bullish note. Nifty opened with a gap of 40 points & continued its upward journey as the day progressed. Towards the fag end of the day Nifty rallied sharply from 3425 to 3486 before settling down at 3480, about 117 points above the previous close.

As far as, extreme short term charts are concerned, with this sharp move Nifty has bounced back in the pattern from where it had given bearish breakout yesterday thus negating the targets of 3300 & below. Now onus has shifted back to 3520 which has been a crucial resistance for last few days & Nifty has to clear this hurdle of 3520 to proceed further towards 3750. On bearish side, close below 3370 will negate the bullish outlook temporarily.

As for as bar reversal in Daily charts are concerned, stocks like Unitech, Tata Steel, RIIL, L&T, Sterlite, Indiabulls, BHEL, TELCO, Hund Unilever, JSW Steel, ITC have given "Upward Bar Reversal" while R Power, Grasim, Jai Corp, IOC, REI agro, MTNL, Alkali Metal, Vishal Info, GHCL Zylog, IDFC, Shanti Gears, Dish TV, Ceat , JSL, Man Ind., Noida Toll Bridge have shown  spurt during the day with unusually high volumes.

Sector wise, most of the banks, financials, steel, sugar, IT, power, construction, cements stocks were among the top gainers which closed in positive territory. On the other hand, select media, oil, metal, shipping stocks were under selling pressure to close in negative zone during the day. As far as, A/D data is concerned it was in favor of bulls in the ratio of 8:5 with 463 declines & 741 advances during the day.

In nutshell, Nifty has bounced back in the trading range of 3375 & 3520 from where it had given bearish breakout & now it is evenly placed between the resistance of 3520 & support of 3375, breakout on either side is capable of giving a move of 225-275 points. The best strategy should be to focus on select banking, IT & infrastructure stocks which have given bullish breakout in EST charts.

Support/ Resistance Levels of "Indices" for Day Traders

Index

Close

Change

3- DEMA

7- DEMA

Sup-2

Sup-1

Trend

Res-1

Res-2

5D-High

5D-Low

* BSE - SENSEX

11403.25

401.50

11269.64

11165.54

10998.47

11158.49

11308.35

11553.96

11676.16

11492.10

10758.97

* CNX BANK INDEX

5130.95

199.65

5073.86

5018.24

4895.30

4994.10

5082.33

5219.68

5295.59

5288.70

4725.70

* CNX IT INDEX

2770.85

123.25

2709.42

2649.96

2609.86

2680.12

2734.22

2825.28

2872.78

2781.60

2497.60

* CNX MIDCAP

3860.80

56.65

3864.30

3867.31

3803.81

3817.88

3849.10

3892.16

3913.86

4022.45

3792.10

* S&P CNX NIFTY

3473.95

111.60

3440.60

3419.22

3331.45

3389.80

3442.35

3526.80

3570.96

3517.25

3310.50

- NSE50 1 MONTH

3473.90

118.95

3438.28

3417.50

3364.86

3406.46

3445.00

3512.66

3542.73

3519.70

3313.50

Change in Indices in last 5 Days

Index

Close

L.Change

2DayBack

3DayBack

4DayBack

5DayBack

* BSE - 200 CO'S

1339.38

41.09

-45.44

-0.43

23.28

33.41

* BSE - 500 CO'S

4140.42

121.10

-138.83

-3.33

71.20

97.80

* BSE - SENSEX

11403.25

401.50

-370.10

42.80

194.06

317.45

* CNX BANK INDEX

5130.95

199.65

-251.45

57.40

156.95

155.10

* CNX IT INDEX

2770.85

123.25

-35.25

27.60

14.75

145.25

* CNX MIDCAP

3860.80

56.65

-138.90

-16.75

65.55

49.50

* S&P CNX NIFTY

3473.95

111.60

-107.65

-10.75

57.05

93.40

- CNX BANK INDEX - 1 M

5133.00

211.90

-252.95

46.55

152.50

166.45

- CNX IT - 1 MONTH

2778.00

130.15

-28.90

22.15

19.90

140.05

- NSE50 1 MONTH

3473.90

118.95

-111.20

-15.90

56.00

102.65

Stocks with Unusual Change in Volumes

Scrip

Close

L. Close

% Change

Volume

Last Vol

V.Change

Stocks with Unusually High Volumes

JAI CORPORATION

168.55

175.50

-3.96

1123971

10377

108.31

SHANTI GEARS

35.05

31.10

12.70

757249

13530

55.97

CEAT LTD

53.15

48.00

10.73

760798

32780

23.21

PATNI COMPUTER SYSTEMS

161.35

150.30

7.35

762992

43163

17.68

REI AGRO

60.30

60.35

-0.08

1486014

93863

15.83

APOLLO TYRES

21.35

21.20

0.71

2161394

157059

13.76

JSL

59.65

54.10

10.26

587947

64965

9.05

DHANALAKSHMI BANK

65.80

63.35

3.87

466237

56003

8.33

TRICOM (I)

10.65

11.00

-3.18

176378

21207

8.32

ULTRATECH CEMCO

570.20

572.55

-0.41

279114

33782

8.26

NOIDA TOLL BRIDG

29.95

28.00

6.96

12930421

1839811

7.03

Gainers with Unusually High Volumes

ZYLOG SYSTEMS

160.45

141.60

13.31

339578

82836

4.10

IDFC

76.65

67.80

13.05

26569120

13438595

1.98

SHANTI GEARS

35.05

31.10

12.70

757249

13530

55.97

DISH TV (I)

32.30

29.00

11.38

11209686

4679458

2.40

CEAT LTD

53.15

48.00

10.73

760798

32780

23.21

JSL

59.65

54.10

10.26

587947

64965

9.05

MAN INDS (I)

32.05

29.10

10.14

264668

138761

1.91

GEOMETRIC SOFTWA

19.25

17.60

9.38

256766

120569

2.13

ARVIND

18.90

17.40

8.62

5962750

3330943

1.79

JSW STEEL

342.50

315.55

8.54

3770025

1821515

2.07

BALAJI TELEFILMS

43.65

40.30

8.31

1535207

576545

2.66

Losers with Unusually High Volumes

BANK OF INDIA

235.10

250.55

-6.17

7431713

1954387

3.80

NETWORK 18 FINCAP

84.30

88.65

-4.91

632226

133164

4.75

JAI CORPORATION

168.55

175.50

-3.96

1123971

10377

108.31

KARNATAKA BANK

82.25

85.30

-3.58

207096

102843

2.01

INDIABULLS FINANCIAL SERVICES

112.35

116.40

-3.48

1895785

394945

4.80

TRICOM (I)

10.65

11.00

-3.18

176378

21207

8.32

PENINSULA LAND

34.85

35.75

-2.52

337762

91707

3.68

Support/ Resistance of "Active Stocks" for Day Traders

We are giving below the Important Support and Resistance Levels of few most actively traded scrips of NSE/BSE (including F&O). Many Traders successfully use Support/ Resistance levels for day- trading. Traders are advised to read the Disclaimer and Rules for Successful trading & apply Stop Loss on all trades.

Scrip

Close

Change

3- DEMA

7- DEMA

Sup-2

Sup-1

Trend

Res-1

Res-2

5D-High

5D-Low

ACC LTD

654.35

10.30

652.86

646.39

633.61

641.54

652.25

665.11

674.23

690.00

625.25

AXIS BANK

557.30

26.60

544.94

526.85

524.39

538.78

551.97

570.56

582.42

570.00

462.85

BANK OF BARODA

326.90

18.80

317.05

306.16

299.14

311.82

323.65

338.80

349.87

334.70

280.25

BANK OF INDIA

235.10

-15.45

246.49

252.11

215.26

224.30

240.53

251.39

267.10

278.45

230.30

BHARAT FORGE

124.85

4.10

123.30

122.49

109.54

116.74

123.02

131.16

137.16

129.05

115.20

BHARAT PETROLEUM

387.65

4.55

384.87

383.55

374.07

379.42

385.53

393.80

398.98

390.70

371.55

BHARTI AIRTEL

752.75

28.40

741.48

727.52

699.51

723.35

741.58

771.09

787.55

761.70

688.20

BHEL

1655.70

58.40

1640.23

1631.48

1556.93

1600.19

1639.60

1695.33

1730.82

1681.00

1568.00

CAIRN INDIA

185.65

1.45

186.29

187.58

178.62

181.45

184.95

189.17

192.23

195.45

181.20

CANARA BANK

197.95

12.95

193.70

192.09

174.66

185.58

193.95

206.36

214.28

201.90

182.05

CIPLA LTD

240.75

1.70

240.03

237.34

234.26

236.61

241.55

245.71

250.07

256.90

225.20

DLF

230.25

6.00

231.53

232.71

218.27

223.41

229.83

236.71

242.59

251.95

222.10

DR. REDDY'S LABS

544.75

-3.50

549.81

549.33

521.35

531.02

546.05

559.85

573.58

579.90

533.65

GAS AUTHORTY (I)

256.45

9.45

252.39

251.57

238.21

246.38

253.95

264.06

271.03

260.90

240.40

GLENMARK PHARM

179.45

-0.45

184.50

189.31

170.21

174.16

181.05

186.36

192.83

208.00

176.20

GMR INFRASTRUCTURE

113.00

4.00

112.50

113.01

106.39

109.28

112.00

115.74

118.19

119.65

107.55

HDFC BANK

1100.35

28.50

1094.96

1091.05

1058.91

1075.54

1094.12

1119.02

1134.95

1139.95

1063.00

HDFC LTD

1726.95

61.90

1728.16

1739.55

1670.71

1692.39

1725.32

1760.02

1788.78

1834.80

1644.00

HIND UNILEVER

234.75

9.45

232.47

234.21

217.85

225.44

231.00

240.35

245.36

245.45

222.25

HOUSING DEV & INFRA

146.65

7.50

145.53

142.46

138.92

142.24

145.70

150.12

153.23

160.80

124.15

ICICI BANK

479.20

40.00

460.96

444.42

429.97

452.83

469.23

495.70

511.01

484.50

395.10

IDBI

63.60

3.05

62.89

61.99

59.33

61.23

62.77

65.15

66.53

68.00

57.15

IDFC

76.65

8.85

73.84

73.04

65.62

70.86

74.47

80.28

83.73

78.90

67.10

INFOSYS TECHNOLO

1509.25

78.50

1470.73

1442.67

1402.30

1450.22

1485.75

1545.00

1576.98

1517.65

1356.40

ITC LTD

188.90

1.35

189.28

189.33

183.61

185.55

188.33

191.69

194.02

194.25

185.45

JAIPRAKASH ASSOC

138.85

9.30

133.25

126.78

126.31

132.07

136.20

143.01

146.82

144.25

106.15

JINDAL STEEL POW

1629.90

55.40

1608.56

1570.15

1536.19

1577.01

1615.48

1668.58

1703.18

1678.00

1487.25

JSW STEEL

342.50

26.95

333.81

330.59

295.10

317.55

335.45

360.50

377.64

352.55

308.20

KOTAK MAHINDRA BANK

385.25

20.90

381.96

383.61

359.00

370.70

380.82

395.42

404.63

410.70

350.00

LARSEN & TOUBRO

879.35

6.20

880.18

871.74

838.69

855.76

873.45

897.14

912.73

924.50

815.00

LIC HOUSING FIN

365.60

38.30

347.97

329.12

312.82

337.89

355.87

383.69

400.87

373.00

295.05

LUPIN LABS

718.55

1.20

717.96

709.71

681.50

697.35

721.55

742.85

765.36

748.00

678.15

MAHINDRA & MAHIN

487.95

14.25

478.86

466.94

468.79

476.56

485.30

496.74

504.31

503.50

422.00

MARUTI UDYOG

814.00

10.85

808.59

806.24

772.54

790.25

806.07

829.90

843.77

822.00

743.00

NATL ALUM - NEW

210.80

-0.20

212.88

218.21

204.24

206.73

211.10

215.19

219.05

228.20

207.00

NTPC

190.00

4.60

188.70

189.02

182.62

185.60

188.98

193.40

196.32

193.20

183.00

ONGC CORPN

864.75

32.10

853.42

853.36

821.85

840.09

856.10

880.85

894.78

870.00

812.90

POWER FINANCE CORP

153.85

3.80

152.97

152.77

142.41

147.56

152.22

158.53

162.82

160.85

145.50

PUNJAB NATIONAL BANK

477.90

6.00

484.94

486.72

460.59

467.46

478.27

488.75

498.41

544.70

460.60

RANBAXY LABS

166.00

0.60

167.57

172.30

160.16

162.46

166.23

169.79

173.17

184.60

160.00

RELIANCE CAPITAL

524.50

31.70

519.41

518.36

488.04

504.34

516.70

536.94

548.07

568.00

487.75

RELIANCE COMM

214.80

7.20

215.53

217.36

207.64

210.42

213.85

218.24

221.15

235.80

205.50

RELIANCE INDS

1806.25

69.10

1781.19

1763.84

1721.14

1757.00

1790.70

1840.14

1869.51

1820.00

1696.00

RELIANCE INFRAST

695.20

33.65

691.39

689.53

660.67

675.36

688.15

708.07

719.19

751.50

654.00

RELIANCE NATURAL RES

56.60

1.90

56.84

57.34

52.08

54.13

57.13

59.62

62.49

62.60

54.10

RELIANCE PETROLEUM

111.70

3.90

110.26

109.30

106.78

108.83

110.90

113.78

115.59

112.70

105.50

RELIANCE POWER

123.30

-3.00

125.50

125.41

117.89

120.13

125.17

128.35

133.10

134.85

122.30

STATE BANK

1278.60

43.00

1268.56

1264.09

1224.15

1246.63

1270.85

1302.95

1324.10

1330.00

1201.45

STEEL AUTHORITY

109.20

1.60

109.67

110.25

105.18

106.78

109.45

111.88

114.29

116.90

106.50

STERLITE INDS (I)

410.05

27.20

401.68

397.35

361.35

384.20

400.08

426.03

440.98

419.00

361.20

SUZLON ENERGY

63.60

3.50

62.83

62.10

59.23

61.18

63.17

65.60

67.43

67.20

58.35

TATA COMMUNICATI

548.50

13.90

545.41

549.12

527.37

535.89

548.37

561.03

572.19

564.50

522.65

TATA MOTORS

243.80

11.30

242.04

241.67

214.13

228.08

237.30

253.08

261.75

259.85

222.15

TATA POWER COMP

896.80

57.55

875.34

869.78

818.50

854.36

880.75

923.35

947.66

905.00

830.00

TATA STEEL

238.10

3.75

241.63

247.37

223.58

229.96

237.07

245.25

251.79

272.00

229.50

TCS

623.60

25.10

608.14

592.46

592.79

605.88

618.20

635.99

646.81

629.00

545.20

UNION BANK

163.80

-1.90

165.94

166.46

157.02

159.80

163.60

167.62

171.03

175.80

160.00

UNITECH

44.05

1.00

44.09

45.09

36.73

40.23

43.32

47.15

50.14

48.60

39.60

Daily Bar Reversal Up/ Down and Bullish/ Bearish Engulfing Patterns

Scrip

Scrip

Scrip

Scrip

Bar-Up

Bar-Dn

Eng-Bull

Eng-Bear

UNITECH

RELIANCE POWER

JSL

Nil for the Day

TATA STEEL

GRASIM INDS

EMCO LTD

 

RELIANCE INDUSTRIAL INFRA

CENTURION BANK

 

 

LARSEN & TOUBRO

JAI CORPORATION

 

 

STERLITE INDS (I)

INDIAN OIL CORP

 

 

INDIABULLS REAL ESTATE

REI AGRO

 

 

BHEL

MAHANAGAR TELEPH

 

 

TATA MOTORS

ALKALI METALS

 

 

HIND UNILEVER

VISHAL INFORMATION TEC

 

 

MARUTI UDYOG

GHCL

 

 

JSW STEEL

 

 

 

ITC LTD

 

 

 

What the Charts Foretell
(For Short Term Traders & Investors)


* NIFTY/ SENSEX !
Nifty - Bounce Back in Pattern / Now watch for 3520 and 3300 for Bearish Breakout
Fresh Bullish Breakout in Many Bank/ Infra/ Sugar Stocks - Be Highly Scrip Specific

* JP ASSOCIATES !
Target of 150+ maintained-Buy on every decline with SL

* IB REAL EST. !
Mildly bullish in hourly charts-Likely to touch 140 in coming days

* ICICI BANK !
All set to cross 505 in near term-Buy on declines with SL

* SAIL !
Strong support at 105-Bearish breakout can wipe off Rs.10/- in coming days

* DLF LTD. !
Bearish pattern with support at 220-Breakout may wipe off Rs.20/- in near term

* DISH TV !
Minor resistance at 33-Breakout will target 38-40 in near future

* RPL !
Bullish indications in hourly charts-Likely to cross 118 in near term


* SESA GOA !
Bearish but oversold-Technical recovery to 116-117 likely

* R POWER !
Short term support broken-Likely to touch 117-118 in near future

* BOI !
Bearish but oversold-Technical recovery to 246 likely


* HCC !
 Bullish pattern with resistance at 57-Breakout may target 63-64 in near term

* IVRCL INFRA !
Short term indicators favor recovery to 165-166/Use declines for buying with SL

* RELIANCE INDS. !
EST resistance at 1840-Bullish breakout can target 2000 in coming days

* ZEE ENT. !
Technical recovery to 122 likely-Buy on declines with SL

* SBI !
Short term resistance at 1320-Bullish breakout will target 1425+

* TCS !
All set to cross 675-Use declines for buying with SL

* IOB !
Minor support at 63-Bearish breakout can wipe off Rs.7-8/- in near term

* HCL TECH. !
EST indicators favor rise to 138-140/Buy on declines with SL

* INDIAN BANK !
Short term charts favor recovery to 106-110/Buy gradually on declines with SL

* INFOSYS !
Overbought in hourly charts-Corrective decline to 1482 likely

* HPCL !
Bullish pattern in hourly charts-Another close above 275 may target 298 in coming sessions

* TATA POWER !
Bullish breakout in hourly charts-Likely to cross 950 in coming sessions

* SUN PHARMA !
Heading for 1350-Buy on declines till 1240 with SL

Bulls & Bears (Technically Speaking)

Sun Pharma (Daily)

Jaiprakash Associates (Daily)

FRESH ADVISORY RECOMMENDATIONS
For Extreme Short Term Investors/ Intra-Day Traders
Note: Read the Disclamer First .It is always advisable to use Stop Loss with every Trade.
The Stop Loss Level may vary according to the Time Frame & Profit Margin for which any trade is being initiated.

Recommendations for 04.05.2009

Opening Price is considered around close of previous day. Avoid BUYING if Prices open abnormally High and Avoid SELLING if prices open too low.

1). Dish TV (Or Fut) : Buy 5000 Shares (2500 at opening if moves/stays above 33 + 5x500 at Fall of every Rs0.50/- ) in ' Investment A/C' . Target 38. Avg SL Rs2/-.
2). Reliance Ind.(Or Fut) : Buy 300 Shares (1500 at opening below Prv Close +3x50 at Fall of every Rs15/- ) in ' Investment A/C' . Target 1975. Avg SL Rs25/-.
3). Infosys (Or Fut) : Sell 500 Shares (250 at opening below Prv Close + 5x50 at Rise of every Rs10) in ' Trading A/C' . Target 1482. Avg SL Rs20/-.
4). DLF Ltd. (Or Fut) -: Sell 1000 Shares (500 at opening if stays <220 + 5x100 at Rise of every Rs2) in ' Trading A/C' . Target 195. Avg SL Rs8/-.
Disclaimer : The Technical and/or Astrological analysis provided in this newsletter is for the purpose of education and guidance of investors and traders. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. Any information, analysis, recommendations, opinions and suggestions are given with the understanding that readers acting on this information assume all kind of risks involved in trading and investment. Under no circumstances, Analysts / Astrologers will  be liable for any loss, profit, special or consequential damages that result from the use of the contents in this newsletter. Trading in stocks is a high risk activity which can wipe off more than your entire capital. Trade at your own risk only with adequate research and judgment.
Disclosure: None of the analysts have any position in any of the recommended stocks.