DAY TRADER...

TRADING STRATEGY :20th November'07

NIFTY SPOT :

Below 5855..... will take to 5820 level , if 5817 breaks close all long position , with nifty target 5776, 5765 level ( panic selling @ this level seen..) or buy nifty with sl 5817 level...expect nifty to open with 100 points negative , sell @ higher level .Expect short covering @ 2:30 to 3:00 time ...

SELL CALL :

bank india : sell below 370 level with target 362, 356 level (as head & shoulder pattern formed ).

balrampur chini : sell below 92 with sl 94.5 target 88.8, 86.7 level.

sbin : sell below 2280 target 2228 level on panic selling .... sl 2298.

bank baroda : sell below 389 with sl 394 target 379 , expect sharp fall in this scrip..

BUY CALL :

alok inds : buy this scrip @ lower level with sl 75 , on panic buy this scrip with target 83.5 & 87.1 level. expect to explode @ any time ...

india cement : buy this stock with sl 299 & 295 with target 313, 316.5...if crosses 317 with volume fresh buying is expected with target
326.75 level .... ( break above 317 forms head & shoulder pattern , expect panic buying )

idbi : hold with sl 170 , 167.5 level.


VIEWS :

IF NIFTY OPENS WITH LOW GAP , BUY ALOK INDS WITH TARGET 84 LEVEL..AVOID LONG IN NIFTY FUTURES.. EXPECT STEEP CORRECTION IN BANKING & FINANCIAL, METAL SECTORS AVOID LONG AND GO SHORT IN THIS SECTORS...
ALL METAL STOCKS IN NEGATIVE AVOID CARRY POSITION IN SCRIPS...GLOBAL VIEW WEAK ON WEAK COMMODITIES METAL...

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