Stocks to Buy in 2010
As per the Technical Analysis of the Expert Analysts of CapitalVia Global Research Limited here are some of the Positive Stocks for the coming year.
BHEL IS STRONG TECHNICALLY AND TRADERS COULD GO FOR THE TARGET OF 2540 IN IT.IT HAS GOOD SUPPORT LEVEL AT 2380 THAT WILL BE SL IN IT.
THE FIRST SHINE IN NEW YR 2010 IS SAIL, GOOD ONE FOR LONG SIDE. FIRST TARGET IN IT IS 250 AND IF IT CLOSE ABOVE IT COULD GIVE THE TARGET OF 260 IN SHORT TERM.
BPCL MADE SUPERB COME BACK AFTER SLIGHT PROFIT BOOKING IN IT, COULD GIVE THE TARGET OF 650. MAJOR SUPPORT IN IT AROUND 600.SO TRADERS COULD GO BUYING ON DIPS STRATEGY IN IT UNTIL IT CLOSE BELOW 600.
NALCO MADE STRONG UPSIDE BREAKOUT WITH HUGE VOLUME ACCUMULATION, COULD GIVE SHORT TERM TARGET OF 430 AND THAN 450. IT HAS MAJOR SUPPORT ZONE AROUND 400 TO 405 LEVELS.
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BHEL IS STRONG TECHNICALLY AND TRADERS COULD GO FOR THE TARGET OF 2540 IN IT.IT HAS GOOD SUPPORT LEVEL AT 2380 THAT WILL BE SL IN IT.
THE FIRST SHINE IN NEW YR 2010 IS SAIL, GOOD ONE FOR LONG SIDE. FIRST TARGET IN IT IS 250 AND IF IT CLOSE ABOVE IT COULD GIVE THE TARGET OF 260 IN SHORT TERM.
BPCL MADE SUPERB COME BACK AFTER SLIGHT PROFIT BOOKING IN IT, COULD GIVE THE TARGET OF 650. MAJOR SUPPORT IN IT AROUND 600.SO TRADERS COULD GO BUYING ON DIPS STRATEGY IN IT UNTIL IT CLOSE BELOW 600.
NALCO MADE STRONG UPSIDE BREAKOUT WITH HUGE VOLUME ACCUMULATION, COULD GIVE SHORT TERM TARGET OF 430 AND THAN 450. IT HAS MAJOR SUPPORT ZONE AROUND 400 TO 405 LEVELS.
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Commodity Market Outlook for the Week
Gold:
Gold Was Untraded On Friday with Many Players Away For the Christmas Holidays, While Silver Prices Inched Up. Gold Futures Recovered In The Opening Trade, Paring Its Early Losses On Thursday Thanks To A Dip In Dollar Against The Major Currencies. Domestic Gold Also Traded Firm In Line With Firming Global Cues. A Weaker Dollar Pushed Gold To A Higher Settlement As Market Participants Found The Metal's Recent Pullback To Be A Buying Opportunity. Gold's Pullback Has Come In Part As Investors Have Bought The Dollar Amid Growing Confidence In The Economic Recovery And Expectations That Federal Reserve Will Raise Interest Rates Earlier Than Expected. In The Coming Week Comex Gold Is Expected To Be In A Range Due To Christmas & New Years Break. For The Coming Week Support For Comex Gold Will Be 1073$ & 1025$ Where As Resistance Is At 1140$ & 1170$ For Mcx Gold Support Will Be Found At 16100 & 15400 And Resistance At 17250 & 17700.
Copper:
Copper Rallied Sharply On Thursday, With Prices In New York Surging To Near 16-Month Highs And London Values Up To Within A Fraction Of A 15-Month Peak, As A Weak Dollar, Supply Threats In Chile And Pre-Holiday Momentum Buying
Combined To Drive Prices Up In Thin Volumes.
We Had a Complete Recipe For Higher Prices -- The Weaker Dollar, Expectations That China Will Buy Copper Next Year And Potential Strikes In Chile,"
The Run-Up In Copper Came As The Dollar Weakened And Data Showed U.S. Existing Home Sales Jumped In November At The Fastest Pace Since February 2007.
Comex Copper Has Touched Its 15 Month High of 330.40 on Thursday and Is Sustaining At Higher Levels
Major Support for Comex Copper in the Coming Week Would Be 308 And 293.
And Resistance Would Be 340 and 361.
If It Sustains Above 330, a Slight Rally Could Be Seen Till 340 Level
Major Support in MCX Copper is 328 and 315 And Resistance at 342 and 358.
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Gold Was Untraded On Friday with Many Players Away For the Christmas Holidays, While Silver Prices Inched Up. Gold Futures Recovered In The Opening Trade, Paring Its Early Losses On Thursday Thanks To A Dip In Dollar Against The Major Currencies. Domestic Gold Also Traded Firm In Line With Firming Global Cues. A Weaker Dollar Pushed Gold To A Higher Settlement As Market Participants Found The Metal's Recent Pullback To Be A Buying Opportunity. Gold's Pullback Has Come In Part As Investors Have Bought The Dollar Amid Growing Confidence In The Economic Recovery And Expectations That Federal Reserve Will Raise Interest Rates Earlier Than Expected. In The Coming Week Comex Gold Is Expected To Be In A Range Due To Christmas & New Years Break. For The Coming Week Support For Comex Gold Will Be 1073$ & 1025$ Where As Resistance Is At 1140$ & 1170$ For Mcx Gold Support Will Be Found At 16100 & 15400 And Resistance At 17250 & 17700.
Copper:
Copper Rallied Sharply On Thursday, With Prices In New York Surging To Near 16-Month Highs And London Values Up To Within A Fraction Of A 15-Month Peak, As A Weak Dollar, Supply Threats In Chile And Pre-Holiday Momentum Buying
Combined To Drive Prices Up In Thin Volumes.
We Had a Complete Recipe For Higher Prices -- The Weaker Dollar, Expectations That China Will Buy Copper Next Year And Potential Strikes In Chile,"
The Run-Up In Copper Came As The Dollar Weakened And Data Showed U.S. Existing Home Sales Jumped In November At The Fastest Pace Since February 2007.
Comex Copper Has Touched Its 15 Month High of 330.40 on Thursday and Is Sustaining At Higher Levels
Major Support for Comex Copper in the Coming Week Would Be 308 And 293.
And Resistance Would Be 340 and 361.
If It Sustains Above 330, a Slight Rally Could Be Seen Till 340 Level
Major Support in MCX Copper is 328 and 315 And Resistance at 342 and 358.
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Equtiy and Nifty Outlook for the Coming Week
Nifty Future Technical Outlook
In This Week Nifty Has Broken Its Crucial Resistance Of 5180 And Also Made Closing Above It With Good Volume, If We See Nifty Technically We Could Expect The Target Of 5270 In Short Term. Now One Thing Which We Had Observed In The Market That At Every Higher Level Profit Booking Took Place, So It Could Happen This Time As Well.
Major Support: 5085 & 5005.
Major Resistance: 5270 & 5470.
In Nifty Technical Indicators Also Suggesting The Positive Strength And Also The Overall Factors Of The Market Indicating That Nifty Could Make Some More Upside From Here And Could Hit The Target Of 5300 In This Week.
What Traders Should Do In This Week?
As We Already Know That Long Term Trend Of Nifty Is Bullish And Nifty Close Above Vital Resistance Of 5180, Now Traders Can Go For Long In Nifty At Every Decline.
Traders Also Should Book The Profit At Higher Level Whenever They Get The Chance & Again At The Decline They Could Take Long Position It.
Means They Should Keep In Mind The Crucial Support & Resistance Level Of The Market.
In This There Is Also The Expiry Of F&O, So Market Could Be More Volatile, So Traders Also Should Be Cautious About Overall Market Condition And According To That They Should Trade In The Market.
Stock to Watch for Next Week.
Hindustan Construction Company
Explanation: Technically It Had Made Very Good Short Term Break Out At 145 Levels And Also Close Above 150 Which Clearly Indicating That It In This Week It Could Give Some Upside Move. So One Could Take Long Position in It,
Targets:
Short Term Target Is Around 163 And If It Close Above 165 Could Hit The Target Of 182.With The Stop Loss Of 142 In It.
Major Support In It Is Around 134 Level.
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In This Week Nifty Has Broken Its Crucial Resistance Of 5180 And Also Made Closing Above It With Good Volume, If We See Nifty Technically We Could Expect The Target Of 5270 In Short Term. Now One Thing Which We Had Observed In The Market That At Every Higher Level Profit Booking Took Place, So It Could Happen This Time As Well.
Major Support: 5085 & 5005.
Major Resistance: 5270 & 5470.
In Nifty Technical Indicators Also Suggesting The Positive Strength And Also The Overall Factors Of The Market Indicating That Nifty Could Make Some More Upside From Here And Could Hit The Target Of 5300 In This Week.
What Traders Should Do In This Week?
As We Already Know That Long Term Trend Of Nifty Is Bullish And Nifty Close Above Vital Resistance Of 5180, Now Traders Can Go For Long In Nifty At Every Decline.
Traders Also Should Book The Profit At Higher Level Whenever They Get The Chance & Again At The Decline They Could Take Long Position It.
Means They Should Keep In Mind The Crucial Support & Resistance Level Of The Market.
In This There Is Also The Expiry Of F&O, So Market Could Be More Volatile, So Traders Also Should Be Cautious About Overall Market Condition And According To That They Should Trade In The Market.
Stock to Watch for Next Week.
Hindustan Construction Company
Explanation: Technically It Had Made Very Good Short Term Break Out At 145 Levels And Also Close Above 150 Which Clearly Indicating That It In This Week It Could Give Some Upside Move. So One Could Take Long Position in It,
Targets:
Short Term Target Is Around 163 And If It Close Above 165 Could Hit The Target Of 182.With The Stop Loss Of 142 In It.
Major Support In It Is Around 134 Level.
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Commodity Market Outlook for the Week
Comex gold futures finished a choppy Friday with modest gains, when early selling sparked by the dollar's renewed advance on the euro later gave way to short cover buying at the lows especially as inflationary and middle east concerns took the focus. Gold prices fell 3% pressured by the dollar's rise to three and half month’s highs against the euro Gold was able to push into positive territory despite the
dollar's gains on the euro, as the US. currency headed for its best weekly gain since April.
Inflationary implications of oil’s rally also helped gold prices turn higher.
US gold is sustaining above 1100 $ and did closing above that. In the next week chances for gold is probably in between the range of 1080 to 1147, and if it breaks 1080 one should go for sell on higher level otherwise traders can follow buy on dips strategy.
Major support for Comex gold in the coming week would be 1094 and 1080
Major resistance for Comex gold in the coming week would be 1047 and 1070
Major support in MCX gold is 16500 and 16200
Major resistance in MCX gold is 17285 and 17685
Copper
Copper held a firmer tone in late business on Friday, as outside market supports enabled prices to recover from earlier dollar-related losses, with the threat of a strike in Chile and the likelihood of stronger demand adding to positive sentiment. Copper prices have more than doubled this year on the back of hefty buying by top consumer china, which has been absent from the market in recent months, but that slack is expected to be taken up by the united states and other oecd countries
Comex copper has broken its crucial level of 296 and sustaining above this level from the last month. The overall trend of copper is up if it does not breaks that level one can go for buy on dips in the short term.
Comex copper will be in range in the coming week between 300 and 330. a slight correction can be seen below 300. Major support for Comex gold in the coming week would be 1094 and 1080
Major support for Comex copper in the coming week would be 308 and 296
Major resistance for Comex copper in the coming week would be 321 and 330
Major support in MCX copper is 316 and 307
Major resistance in MCX copper is 330 and 341
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dollar's gains on the euro, as the US. currency headed for its best weekly gain since April.
Inflationary implications of oil’s rally also helped gold prices turn higher.
US gold is sustaining above 1100 $ and did closing above that. In the next week chances for gold is probably in between the range of 1080 to 1147, and if it breaks 1080 one should go for sell on higher level otherwise traders can follow buy on dips strategy.
Major support for Comex gold in the coming week would be 1094 and 1080
Major resistance for Comex gold in the coming week would be 1047 and 1070
Major support in MCX gold is 16500 and 16200
Major resistance in MCX gold is 17285 and 17685
Copper
Copper held a firmer tone in late business on Friday, as outside market supports enabled prices to recover from earlier dollar-related losses, with the threat of a strike in Chile and the likelihood of stronger demand adding to positive sentiment. Copper prices have more than doubled this year on the back of hefty buying by top consumer china, which has been absent from the market in recent months, but that slack is expected to be taken up by the united states and other oecd countries
Comex copper has broken its crucial level of 296 and sustaining above this level from the last month. The overall trend of copper is up if it does not breaks that level one can go for buy on dips in the short term.
Comex copper will be in range in the coming week between 300 and 330. a slight correction can be seen below 300. Major support for Comex gold in the coming week would be 1094 and 1080
Major support for Comex copper in the coming week would be 308 and 296
Major resistance for Comex copper in the coming week would be 321 and 330
Major support in MCX copper is 316 and 307
Major resistance in MCX copper is 330 and 341
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Market Outlook for the Week
I would like to give technical outlook for nifty future, as we see in charts so we could see that in long term nifty is in uptrend, but if see the short term trend of it so it is clearly in upside consolidation phase. But if we see the movement of nifty in previous week it had shown the slight bearish trend and in the Friday it close below very vital resistance zone of 4995 to 5005.Technically it happened due to the two reasons.
One is the negative divergence in RSI which means that prices were making new highs but RSI was making lower highs, so it shows the weakness in the rally & we have see the decline in prices finally.
Second what I believe that in any breakout the one should also see the closing if it close above crucial resistance level then it gives the positive signal about the rally and we could expect that it could be continue for while, but it didn’t happen in case of nifty every time when it break its resistance was not closing above which means that the profit booking was also there in the higher levels.
Let’s talk about the crucial support for nifty.
Support: 4905 & 4865
Resistance: 5095 & 5195.
Strategy for nifty future:
In my view that as the closing is well below the vital support level for nifty future, so one could expect some correction from here. So that’s why traders should go for short position in nifty future at every higher levels & he should book the profit as he get the chance.
Some hot picks for the upcoming week:
As we see the sectorial movement so we could find out that there is up movement in the it & pharma sectors and it is looking to continue for while.
My first pick is
Scrip: HCL technologies.
Interpretation: as we see technically in chart that it had shown the strong uprally from downside and most importantly is that it had close above the vital resistance of 355.and there is also been break out with rise in volume & also in open interest so looking bright for long position target could be around 395 to 400.with the SL of 350.
Lupin:
Interpretation:if wee see technical in charts so we could see that as it had broken 1150 level in after it reach on strong uptrend and in short term we are expecting the target of 1650 in Lupin so one should take long position at every decline. and in Lupin the SL could be 1485 for intraday.
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One is the negative divergence in RSI which means that prices were making new highs but RSI was making lower highs, so it shows the weakness in the rally & we have see the decline in prices finally.
Second what I believe that in any breakout the one should also see the closing if it close above crucial resistance level then it gives the positive signal about the rally and we could expect that it could be continue for while, but it didn’t happen in case of nifty every time when it break its resistance was not closing above which means that the profit booking was also there in the higher levels.
Let’s talk about the crucial support for nifty.
Support: 4905 & 4865
Resistance: 5095 & 5195.
Strategy for nifty future:
In my view that as the closing is well below the vital support level for nifty future, so one could expect some correction from here. So that’s why traders should go for short position in nifty future at every higher levels & he should book the profit as he get the chance.
Some hot picks for the upcoming week:
As we see the sectorial movement so we could find out that there is up movement in the it & pharma sectors and it is looking to continue for while.
My first pick is
Scrip: HCL technologies.
Interpretation: as we see technically in chart that it had shown the strong uprally from downside and most importantly is that it had close above the vital resistance of 355.and there is also been break out with rise in volume & also in open interest so looking bright for long position target could be around 395 to 400.with the SL of 350.
Lupin:
Interpretation:if wee see technical in charts so we could see that as it had broken 1150 level in after it reach on strong uptrend and in short term we are expecting the target of 1650 in Lupin so one should take long position at every decline. and in Lupin the SL could be 1485 for intraday.
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Here are the Predictions for the market for the week.
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Immense volatility arising out of IIP numbers left longs in lurch. In blink of an eye we saw markets turning from hero to zero.Nifty futures dropped from fresh new high of 5188 to 5097 in very short span of time. We believe it was not the IIP numbers that did the trick but highly complacent market condition that triggered the selloff. Choppy market conditions have made it real hard for traders who live and die on breakouts and it requires a good understanding of supports and resistance to deal with notorious markets. I believe one should be comfortable initiating longs in the well established support region of 5080-5100 and short sell around 5170-5190 level with a tight stop of 5040 and 5200 respectively. One lucrative strategy that'll also keep your heart beat in check would be to buy 5200 calls when markets trade in region of 5080-5100 or buy puts when markets hovers around 5170-5190 levels and wind them quick as and when you see a gain of 25-30%.
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