: Buy Canara bank - Short Term Pick

     Analysis:

·         Stock entered in correction phase from Dec 2013 to till now and forming a base 210 level.
·         As per Bollinger band stock is tagging the mid band suggest bullish sentiment.
·         Stock may test the upper gap area as shown by horizontal red lines.
·         Indicator ADX, MACD, RSI & ROC analysis suggests buy signal.

Strategy: Buy Canara bank at CMP- 214 and add on dips to 208 for possible Target-  245 / 260 with stop below 204 on daily closing basis. (1-2 months)

Buy BEML Ltd.

Analysis:

• Stock started its upward momentum from Oct. 2013 & made high of 248 in Dec. 2013 and enters in correction phase.

• Stock is corrected 61.8% from its recent high of 248 and after taking support at 180 and forming base there. After few trading sessions stock came out of range.

• Indicator ADX suggests buying signal. Also as per MACD analysis there is a bullish central line cross over suggest positive sign.

• Stock is above its 20 days SMA, 50 days EMA, 100 days EMA & 200 days EMA suggest it’s in uptrend.

Strategy: Buy BEML at CMP- 203 for possible Target- 224/ 232 with stop below 194 on daily closing basis.

FII Data Analysis for 20- Feb

• FIIs bought 5796 contracts of Index Future (bought 1561 long contracts and 4235 short contracts were covered) with net OI decreasing by 2674 contracts.

• Today FII bought long contracts and squared off shorts and stayed net buyers in index future. Today nifty closed above its 50 days EMA and 100 days EMA resistance which signs good. Now it may test upper gap at 6210 (future).

• Nifty Trading Strategy: Buy Nifty Fut above 6168 Target- 6188/ 6205  SL- 6153                                                               Sell Nifty Fut below 6145 Target- 6128/ 6118  SL- 6162

FII Data Analysis for 18- Feb

• FIIs bought 7859 contracts of Index Future (bought 5369 long contracts and 2490 short contracts were covered) with net OI increasing by 2879 contracts.

• Today FII bought long contracts and squared off shorts and stayed net buyers in index future. Very heavy open interest built up in 6000 PE and some contracts squared off from 5900 PE suggest some bounce back is possible.

• Buy Nifty Fut only above 6100 Target- 6126/ 6138  SL- 6082
• Sell Nifty Fut below 6075 Target- 6058/ 6045  SL- 6092

Buy Sun Pharma - Short Term Pick

Analysis:

• Stock is forming triangle formation on daily chart breaking down slopping trendline.
• Volume rising during the breakout suggests confirmation of breakout.
•  Stock is tagging upper Bollinger band suggest upward strength in this counter.  
• Momentum indicator RSI is in bullish 60 zone suggest buyers action in this counter.
• Stock is above its 20 days SMA, 50 days EMA, 100 days EMA & 200 days EMA suggest uptrend.

Strategy: Buy SUN Pharma at CMP- 611 for possible Target- 635/ 650 with stop below 600 on daily closing basis.

FII Data Analysis for 11- feb

• FIIs bought 1539 contracts of Index Future (square off 1998 long contracts and 3537 short contracts were square off) with net OI decreasing by 5535 contracts.

• FII covers long as well as short both today. Market could not able to sustain at higher levels and FII continue to short on every rally.

• Nifty Trading Strategy: 

             Buy Nifty Fut only above 6085 Target- 6108/ 6120  SL-6068                                             

             Sell Nifty Fut below 6055 Target- 6035/ 6018  SL- 6072

Buy Finolex Industries

Analysis:

·         Stock is forming triangle formation on daily chart with taking support as shown by horizontal line.

·         Stock is corrected 50% from its recent life high of 179.50 and starts consolidate here suggest it may resume upward momentum.

·         Indicators like RSI, MACD, ADX and ROC suggest buying signals.

·         Stock is above its 20 days SMA, 50 days EMA, 100 days EMA & 200 days EMA suggest uptrend.

Strategy: Buy Finolex Industries at CMP- 156 and add on dips to 150 for possible Target- 170- 182 with stop below 146 on daily closing basis.

FII Data Analysis for 7- Feb

• FIIs sold 8186 contracts of Index Future (square off 4249 long contracts and 3937 short contracts were added) with net OI decreasing by 312 contracts.

• FIIs continue adding short contracts from last couple of days and nifty able to sustain at 200 days moving average suggest good sign. There is 6.34 lacks shares added in 5900 PUT strike open interest and some more open interest added in 6200 & 6300 CALL strikes.

• Nifty spot has resistance at 6090 – 6140 & support at 5995 – 5960