Monday, April 30, 2007

Nifty flat correction unfolding possibly

Nifty got good suppot near rising gap up 4035 area + 13 ema
So maybe we're doing a flat correction and lows are already formed. i.e we go to 4240 then come back to 4000 or something then head much higher.

keep an eye on auropharma+rcom+reliance+bharti
these are my top picks in case market starts moving up
tcs can also show strength once it resolves eod triangle above 1270 can already see the potential for 1320 , check last post :) no matter what market does tcs is a buy at 1200. Understanding the fundamentals of a stock can give u the courage to buy a stock when the public is ignoring it and its selling a relatively low valuations.
if tcs goes to 1200 buy 1150 buy more 1050 b fully invested.


old quote :
"w4=volatile moves
stocks which can retest old highs or go higher after a correction are the leaders
like bharti/reliance but they must do their corrections first.
Also the late laggard breakouts which are only now giving breakouts w3/wc
or the early movers which went sideways earlier and are not trying w5 are your prime candidates for upmoves. The point is since nifty is out of its 3900 trading range the same pattern will be tradeable on stocks , breakouts will work.

i.e hll early sideways corrective still unfolding will break up soon
colgate same story , aurobindo also already in sideways phase and will break up before nifty."

hll check results reports and general consensus before attempting to buy it
some kind of supports 195-193-190-186 etc
don't know exactly which one will hold.
Can look to buy new eod highs.

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