Technical Reading of Indian MarketOctober 21 2014

Deepak SinghTwitter id: @smarket

Global Markets going up again

Nobody can escape the short-term insanity of this

market

State of Nifty

Will Reliance get the support at current levels?

Earlier Resistance: 900-920

Now 900-920

should act as support

Trading Strategy: 22% Upside 4.5% downside

Long on Reliance at 930 with stop loss at 890 and target of 1140

Duration: 4 months

Probability of success: Medium to Low

Now 900-920

should act as support

Large Cap IT: Avoid

Large Cap IT has got mixed response post results. The sector seems to be under pressure but keep an eye on mid cap IT

Hexaware manages a decent bounce

Hexaware jumped from 170 to 189 in 2 days flat

The real Bull Market is in

Oil and Gas Sector – PSU stocks

HPCL: Buy on declines

BPCL: Buy on declines

Here’s one stock that collapsed because of fall in Crude Oil

The stock is Cairn

One sector that market hates

Real Estate

But there are exceptions. Market likes Sobha Developers

Can HCC rally now? Maha election over

McDowell: Is something cooking

Traders will be watching for follow through: High Risk Trade

Berger Paints: Looking for Support

Will Buy the dip crowd – Buy?

M&M: Is stock in for deeper correction?

Can Reliance Capital recover?

Can Reliance Capital recover?

PI Ind: Strong Bounce in works

Ambuja Cement: Ready for big move

WAITING FOR BREAKOUT

We see the market as we want to see it, not as it existsMake Believe world

Thank You

• Disclaimer - The state of the market presentation is Deepak's perspective on the market. The presentation is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this presentation you agree to make no trade relying in whole or in part on the comments of the writers

• Chart Source: Chartalert.com

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• Twitter id: @smarket