Market estimates for 19/12/2012

 

JSW Steel

 

 

 

In yesterday's post analysis of JSW Steel was uploaded and as expected it not only reached Rs.790 but also surpassed the target and made a high of Rs.814. I hope you all have enjoyed the profit. Further upside is expected.

 

REC

 

 

 

REC is one of the top gainers in today's trading session. The stock was up nearly by 5%. It has closed at a critical resistance level. Wait for breakout to initiate long position.

 

Commodity Chart

 

Lead

 

 

Lead has breached trend line support at Rs.125 and at this point of time it is trading at Rs.126.20. We are bullish on lead from short term point of view.

 

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	5950
Reversal if closes below	5680

 

 

I always say to my clients not to depend on 'News'. But few traders are able to understand the point. Today there was an expectation that RBI will cut CRR but that didn't happen. So Nifty started falling but later on it made a bounce back and closed at 5894 up by 36 points. Trade according to time tested method.

 

Thought for the day

 

There is neither past nor future . There is only present . Yesterday was the present to you when you experienced it , and tomorrow is the present when you experience it. Therefore experience exists only in the present and beyond experience nothing exists - Ramana Maharshi