Result of Trading calls for 20-23May

Six Swing trading calls were given on Monday for the trading week 20-23 May.
Here are results and some comments on each call.

● In Ifci (Sell 62.5-63.5), I personally asked everyone to exit cost to cost at 62.5on 22May Thursday ,minimal loss here.
● ITC was a star performer this week and fell the most today post disapponting results.
ITC Sell given at 226.5 achieved both targets and made a low of 211.15 i.e more than 7% gains.
● Hindustan Unilever dissapointed & Hit sl, 239>>235= 1.7% loss.
● Hindalco gave decent returns and hit a low of 190.40 . Gains 6.5%.
● TCS remained without huge volumes , but gave low of 915. Gains 6.5%.
Note:TCS can be held on for more profit.The statistics given weekly for weekly profits.
● Rcom was yet another star performer falling to an intraweak low of 570.Thus falling 602>>570 & giving 5.5% gains.

● Net-Net all our Swing trades gave an average of 4% per trade OR 24% cumulative profits.

Note:I recommend to trade in all calls and not to do selective trading.I also advise to keep a trailing sl of 1% in all Swing Trades, whenever you are in profit. On the other hand Sl mentioned are based on closing basis.

General market outlook for 23rd May Friday

Markets are likely to open on a flat to positive note on account of 5022 Nifty level being held & positive Dow closing(+25pts).
Key levels for Nifty to keep in mind are again 5008 & 5022,below which Nifty will face tought times.

Look to get into Nifty fut or Stocks mentioned at around 5008-5022 Nifty Spot levels for likely intraday targets of 5050-5065.

Crude oil fell more than $2 a barrel on signs that a 15% increase in prices this month isn't justified by stockpiles and demand.
The fundamentals justify a price between $80 and $100,'' said Sarah Emerson, managing director of Energy Security Analysis Inc.
Fall in Crude oil price is highly proportional to Cairn India stock price.
Look to get in far out the money Put options for Cairn.

Trading calls for 20-23rd with results

Some Short Term Calls

Gtl Infra seems a good bet at current levels.
Buy it in range 49-52 wid a sl of 47 for tgt 60,64.

Aban is in an uptrend and getting in this stock on declines seems prudent.
Buy Aban in range 3700-3750 sl 3650 for a tgt 4040.

Acc is in bottoming out stage.
Buy Acc in range 670-680 sl 660 tgt 698,720,740.

Balrampur Chini is playing in a narrow range.Buy at lower levels is advised.
Buy Bal.Chini in range 93-95.5 sl 90.5 tgt 104,108.

Markets Continue to be in a Range

Fundamental View on Indian Markets

The Indian Markets have not been able to breakout in either direction since the January crash this year.

Its been moving in correlation with the US markets since couple of months now. The US markets on the other hand has surprised us with upwards move despite Crude Oil prices rising vertically & hitting life time high levels on consistent basis.

If Crude Oil recedes, then global markets will start seeing some relief. Equities have shown a 5-months underperformance. So, there will be more allocation to equities. All eyes are on what is going to happen in oil in the next few days.

The dollar rose approached a two-month high versus a basket of currencies, boosted by a slight rise in risk demand and growing speculation that U.S. interest cuts may be ending.

Inflation rose to near 44-month high of 7.83 per cent for the week ended May 3, against 7.61 per cent in the previous week adding more concerns.

Technical view on Indian Markets

Post the Nifty relief rally from 4600 levels in April to 5300 levels in May, the markets took a breather at beginning of this month & Retraced to 4950 levels.

It again showed a rally & closed at 5157 on the last trading day of the week , amidst a choppy trading session. Thus making higher highs on charts which is always regarded as a positive sign & shows strength.

Important levels to watch out for Nifty in May are 5050,5000 & then 4900 on the downside(below which Nifty can test its January lows) & 5300 on the higher side (above which 5365 seems possible).