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Traders home work -

1. Preparation of watch list

Calls for 18 August 2014
Bought RANBAXY@605/LOSS@605
Bought SBIN@2405/Profit @ 2424
Bought AxisBank@391.50/Profit@394.50
Bought BPCL@446/Profit@653
Bought NIFTYFUTURE @ 7833/ Profit@7903

Calls for 14 August 2014
Sold TATASTEEL@529/Loss@531
Sold SBIN@2370/booked flat
Bought ICICIBANK@1480/Profit@1482
Bought TATASTEEL@538/Profit@545
Bought RANBAXY@598/Profit@602

Calls for 13 August 2014
Sold JPASSOCIAT@58/profit@52.50   (gain 9.50%-intraday)
Sold TATA STEEL@538/Profit@535
Sold BANKINDIA@269/Profit@266
Sold IRB@243/Profit@236
Sold NIFTYFUTURE@7771/Loss@7781

Calls for 12 August 2014
Sold TATAMOTORS@476/Profit@470
Sold TATASTEEL@538/Profit@535
Sold BHEL220CA@7.25/Loss@8.15
Sold SBIN@2410/Loss@2425
Sold NIFTYFUTURE@7680/Loss@7700
Sold NIFTYFUTURE@7715/Loss@7722
Calls for 11 August 2014
BUY SAIL@82.20/Booked flat
BUY M&M@1279/profit@1287
BUY M&M@1291/Profit@1303
BUY M&M@1313/Profit@1318
Sold TATSTEEL@535/Loss@537
Sold TATASTEEL@537/profit@532

Calls for 08 August 2014
Sold TATASTEEL@548/Profit@541
Sold JUBLFOOD@1117/Loss@1125
Calls for 07 August 2014
Sold TATASTEELFUT@558/Loss@562

Calls for 06 August 2014
BUY IBREALEST@79/Loss@78.60
Sold TATASTEEL@557/Profit@550
Sold TATAMOTORS@448/Profit@447
Sold NIFTYFUTURE@7722/Loss@7742
Sold NIFTYFUTURE@7735/running @ 7690
Calls for 05 August 2014
Sold DLF@200/profit@199
Sold BHEL@224/Loss@226.50
Bought HDIL@98/Profit@100
Sold NIFTYFUTURE@7730/Profit@7675
Sold BANKNIFTY FUTURE@15260/Loss@15320

Calls for 04 August 2014
Sold DLF@201.50/Profit@197.50
Sold TATAMOTORS@446/Loss@448
Sold TATASTEEL@548/Loss@549
Sold NIFTYFUTURE@7680/Loss@7800

Calls for 01 August 2014
SELL ONGC@392/Profit@387
SELL TATAMOTORS@452/Profit@440
SELL DLF@202/Profit@198

Calls for 31 July 2014
Buy TATASTEEL@545/Profit@556
Buy IRB@256/Booked flat
Buy DLF@202/Booked flat
Sold BHEL@230.50/Profit@228
Sold JPASSOCIAT@59.50/Profit@58.40
Sold NIFTY FUTURE@7810/running@7750

Calls for 30 July 2014
Sold TATA STEEL@547/Profit@541
Sold TATA MOTORS@452/Profit@448
BUY ARVIND AUGFUT @228/high-242+
BUY TATAMOTORS@450/Profit@453
Sold NIFTYFUT@7770/Loss@7790

Calls for 28 July 2014

Sold TATAMOTORS@464/Profit@454
Sold JPASSOCIAT@61.30/Profit@60.40
Sold ICICI BANK@1456/Profit@1451
Sold TATA STEEL@549/Profit@548
Sold NIFTY FUTURE@7810/Profit@7775

Calls for 25 July 2014

Sold TATAMOTORS@480/Profit@472
Sold TATAMOTORS@470/Profit@460
Sold JPASSOCIATE@63.10/profit@59.10
Sold BHEL@228/Profit@226
Sold RCOM@134/Profit@131
Sold NIFTY FUTURE@7820/Profit@7770


Click all to read all July trades ...

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03 September 2014: Stock Chart Analysis for intraday – BANKINDIA, JPASSOCIAT and APOLLOTYRE
BANKINDIA (289.00)
Buy above 293/ SL 291/Target-296-298|| Sell below 287/ SL 289/ Target 283-280
Buy above 48.50/ SL 48/ Target 50 ||Sell below 47/ SL 47.50/ Target 45-43-40
Buy above 187/SL 185.50/ Target 190-193 ||Sell below 183/ SL 185/ Target 180-178

Read chart → Click

02 September 2014: Nifty Elliott wave analysis: First time above 8000 Nifty. Technical resistance may hit at 8050 for a pullback but Elliott wave target remains at 8132!!! Support = 8000-7990!!!

You must read previous articles and watch the given chart carefully to understand this article completely.

niftyFor 02 September 2014: -

On 01 September 2014, FII Bought INR 554.14 crs and DII Sold INR 561.69 crs

We saw another whooping rise with a close above 8000 levels on Nifty. It’s second gap up in past four trading sessions, which remains unfilled. Momentum favours rise which is an established trend. Price correction is missing in this established trend which has started from 7540. On long term Elliott wave chart, this up trend has started from 4531 odd levels.

Based on Elliott wave we may expect more steam in the market but this is heavily over bought in short term. A short term top needs to emerge for correction. So far, correction has denied and there is no great technical indication for that. I can still suggest that a dip is very likely due to heavily over bought nature of market.

If one is not aware then I must remind that QE in USA will be over next month. My worry is that most global market can see some shaky reactions after that or just before that. If I am saying just before that then time can start in just few days. Well, there is no need to give much importance to news flow but keep this fact in mind.

So far, Nifty is above 8000 and as long as it is above 8000-7990, no one can stop it except market itself. I like to add a warning sign from hourly chart. You can check yourself on given chart. It is again a rising wedge after 50 points gap up. So it is keeping a scope to fill yesterday’s gap up without being bearish. This suggests me for a word of correction today.

For today’s trading, market will ask itself – Will 8035 be a final word? I say, please look for a follow up buying above 8000. Nifty above 8000 must possesses more than a figure. I am not saying that it is a technical level. It is a level of optimism. I draw few conclusions for intraday traders and split market in to two parts. As, it is a rising wedge so support for first half is deeper, i.e. 8000-7990. If it correct in second half then support will emerge only at 8015. I repeat do not buy rise. No harm in missing few long.

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Strategy for Nifty September future – Nifty September future may open in the zone of 8050. Market may have a sense that rush traders have already overdone. Technical set up is already for a buy formation but this cannot be from higher side. Set up formation can change anytime today with some sign of reversal. If it breaks 8025 then dip is very likely. On higher side 8100 is a only decisive hurdle for intraday.

S&P 500 (USA) – Is it hint for top? Yes, whatever has to come this week will be best figure for the rest of the year 2014. In my view, maximum permissible top should not be more beyond 2020. Current formation is more like November 2008, March 2009 as well as September October 2002. It is a very known fact that US indices used to fall every time after end of QE. We have some good confirmation that DAX has already topped out with its last leg of pullback rally before fall. September is usually a bad month for equity. I expect rise in gold price and fall in equity price.

One liner conclusion is – A major top will emerge this week itself and then afterward we will not see that figure in September, October, November and December2014. As of now, DAX is giving target of 8000. I say, do not trade. Hold shorts with patience for little long time. Monday is holiday for US market.