WEEKLY MARKET UPDATE AS ON TUESDAY 17 th DECEMBER 2012

WEEKLY MARKET UPDATE AS ON TUESDAY 17 th DECEMBER 2012

NIFTY SPOT - (5880)

In our last weekly report we had mentioned that even though we were anticipating a correction in the markets,  the undercurrent would remain bullish. During last week NIFTY made a high of 5965 and a low 5839  and closed the week @ 5880. We would once again like to reiterate our bullish stand and even though the indices are likely to take some time off, stock specific movements and individual scrips are likely to be in limelight. In the current week NIFTY has support @ 5833 - 5820 - 5796, while resistance can be expected at 5892 - 5925 - 5965. While 5925 is the most important reversal point, once the NIFTY moves above 5965,  it will easily rise above 6000 and then the next targets are 6033 - 6186. In the current week NIFTY is likely to trade with a minor -ve bias on monday & tuesday, whereby it can have  a small dip to levels of 5833 by tuesday. If during this fall if the NIFTY does not fall below 5790 (bull stop loss),  then we can expect a very powerful upmove from around 5833 levels. Once this upmove crosses above 5925,  the 8 days NIFTY correction which began on 6th december can be assumed to be over. In order to confirm the bottom expect the NIFTY to post a powerful upmove from around 5833 levels which will take the NIFTY above 5965 in the next 3 trading sessions ( before friday). In the current week NIFTY is poised for a very sharp reversal (sl 5790) on tuesday 18th Dec, which also  happens to be the day on which the RBI policy is likely to be declared. Trade with a postive bias, if the RBI policy has some good news for investors and especially when the NIFTY holds above 5790 and then moves above 5925. Once NIFTY zooms above 5925, the next days headlines are likely to be "RBI BOOST  HELPS NIFTY BREACHES ABOVE 6000"

WEEKLY MARKET UPDATE AS ON TUESDAY 11 th DECEMBER 2012

WEEKLY MARKET UPDATE AS ON TUESDAY 11 th DECEMBER 2012

NIFTY SPOT - (5909)

In our last weekly report we had mentioned that even though we were anticipating a correction in the markets, the undercurrent would remain bullish. During last week NIFTY made a high of 5943 and a low 5839 and closed the week @ 5908. We would once again like to reiterate our stand that even though the indices are likely to take some time off, stock specific movements and individual scrips are likely to be in limelight. In the current week NIFTY has support @ 5848 - 5820 - 5784, while resistance can be expected at 5950 - 6061 - 6138. In the current week there is a possibilty that the NIFTY holds above 5877 on tuesday and then quickly moves above 5950 before thursday, which can signal an end to the correction. A rise above 5950 will mean a fresh  upmove has begun. In case the NIFTY breaks below 5877 then it can fall further to to 5848 - 5820 where new support will emerge. As the action shifts to midcap stocks, buy on declines remains the strategy.

POSTIONAL TRADING CALL

1. Buy Dhanlakshmi Bank @ 70. Stop loss 62. Target 80 - 84 -94 2. Buy CIPLA @ 416, sl 409.5, target 450 - 460

WEEKLY MARKET UPDATE AS ON MONDAY 03 rd DECEMBER 2012

WEEKLY MARKET UPDATE AS ON MONDAY 03 rd DECEMBER 2012

NIFTY SPOT - (5880)

Last week the NIFTY moved precisely as we had mentioned in our weekly report. In our last weekly report we had mentioned that if the NIFTY held above 5585 and moves above 5650 it can post a strong rally to 5748 /5843.  In this upmove NIFTY was expected to move above 5778 on or before 30th November (Time & Price target), to give a fresh breakout for higher targets of 5874 - 5600. Accordingly NIFTY posted a strong rally and broke above 5778 on 29th November, thereby achieving its Time & Price target. By confirming with a Time & Price target breakout NIFTY  now has the potential to rise to much higher levels in the next 2 months. In the current week NIFTY has support @ 5782 - 5745 - 5710 while resistance can be expected at 5900 - 6031 - 6183. In the last 8 trading days NIFTY has moved up by 350 points from, 5550 to 5900. Hence it will be logical & healthy for the NIFTY to consolidate over its last weeks gains befo a fresh upmove  is commenced. Ideally in the current week NIFTY can trade in a consolidation mode with a a postive bias. Hence eventhough the NIFTY is likely to consolidate in 5900 / 6000 to 5745 / 5610 range, the undercurrent  will be strongly postive and trades should utilise all declines to support levels to buy for higher targets  next week. Action is likely to be witnessed in midcap stocks as the frontline stocks take a break.

POSTIONAL TRADING CALL

Buy Dhanlakshmi Bank @ 64-65. Stop loss 59.5. Target 80 - 85.

WEEKLY MARKET UPDATE AS ON MONDAY 19 th NOVEMBER 2012

NIFTY SPOT - (5574)

In the last week NIFTY made a weekly high of 5719 on monday and then fell down to a weekly low of 5560 on friday, and then closed the week @ 5574. It must be noted here that we are in a correction which has begun @ 5815 on 5th octobe, and has completed 28 trading days. Typically a fall at the end of a major consoditaion shows that the weak hands are exiting.  While the NIFTY is still in a fall, it is in its final stages of the fall and hence traders should refrain from aggressive selling at lower levels. In the current week NIFTY has support @ 5534 - 5484 - 5452 while resistance can be expected at 5625 - 5678 - 5751. As we are in an intermediate downtrend, sell on rally is the strategy in the first half of the week. However as  we are in the final stages of the correction, sell only in small quantities with tight stop loss and small down targets. On monday sell on rally to 5600 - 5615, with a tight stop loss @ 5625. If the NIFTY is unable to rise above 5625 on  monday it can then fall down to 5543 - 5475 in the span of next 2-3 days. On the down side strong support exists @ 5484 -5475 levels and traders can use declines of 2 days to 5545 / 5484 - 5475 levels  to cover shorts and go long with a stop loss of 5440. BUY ON 2 DAYS DECLINE TO 5545 / 5475, STOP LOSS 5400, TARGET 5850.

POSTIONAL TRADING CALL

Buy REC @ 220. Stop loss 213. Target 240-250.

WEEKLY MARKET UPDATE AS ON MONDAY 5 th NOVEMBER 2012

NIFTY SPOT - (5698)

In our last weekly update we had suggested that the NIFTY can fall down to 5617 by tuesday, where buying can attempted for a rise of 144 / 233 points. We had also suggested to be cautious in view of the RBI policy and review your postion after the RBI credit policy. Accordingly, Last week NIFTY made a low of 5583 (after RBI policy) on wednesday and then jumped up to 5711 and finally closed the week @ 5698. In the current week NIFTY has support @ 5660 - 5647 - 5632 while resistance can be expected at 5752 - 5785 - 5871.  A weekly close above 5705 would be bullish and can take the NIFTY toits next target of 5871 by 15th November. In the current week NIFTY has strong support level of 5660. As long as the NIFTY maintains above this it  can slowly hit a target of 5900+. In case the NIFTY breaks decisively below 5660 the next support level  will be 5632 and after that 5575. In such a scenario the NIFTY can remain in a small sell mode upto 10th November,  with lower tragets of 5575 / 5550.In such a case falls upto 5550 can used to go long with a stop loss of 5530 on a closing basis.

WEEKLY MARKET UPDATE AS ON MONDAY 29 th OCTOBER 2012

NIFTY SPOT - (5664)

In our last weekly update we had mentioned that if the NIFTY holds above 5633, then it can rally to 5745 / 5766 in the next 3-5 days, which should be used to sell for a fall of 200/300 points. Accordingly, NIFTY made a high of 5722 (at our first resistance point) and  fell down slowly to make a low of 5642 on friday and closed the week @ 5664. One noteworthy point of last weeks trade was that on two differrent days the global markets were down strongly and also the DOW JONES index was down by over 200 points, however NIFTY held on its own strength and finally fell only by around 80 points from the weekly high. This itself indicates that the NIFTY has lot of inherent strength and can post a strong rally from around 5633 level. In the current week NIFTY has support @ 5617 - 5578 - 5530 while resistance can be expected at 5719 - 5745 - 5815 - 5925. Ideally in the current week expect the NIFTY to trade with a minor negative bias till tuesday, during which it can fall down to levels of around 5617. If in the first two days if the NIFTY does not fall much or falls only till 5617, then it should be taken as a sign of bullishness.  In such a scenario the NIFTY can post a strong rise of 144 / 233 points from the weekly low once it moves above 5700 / 5719, to higher targets of 5761 - 5851 - 5925. Only if the NIFTY breaks down and trades below 5617, can it fall down to 5578 - 5530. As this is not normally expected, any nasty surprises from the RBI credit policy on tuesday can trigger this fall. As we have the RBI credit policy in the current week which will make the current weeks NIFTY movement news based. We are fully aware  that the RBI policy has the potential to make or break the indices and would hence suggest readers to be very cautious and also keep minimum postions till the RBI credit policy is finally through. We would have a buy on decline strategy but would also like to wait for the RBI poilcy to give further confirmation to the same

WEEKLY MARKET UPDATE AS ON MONDAY 17 th SEPTEMBER 2012

NIFTY - (5578)

NIFTY In our last weekly report we had suggested to trade with a bullish bias, for targets of 5475 - 5530, with a stop loss of  5258 on a weekly closing basis. We had also suggested to book profits above 5475. NIFTY traded with a bullish bias  throughout the week and the much awaited diesel price hike, which implied the government was ready to take serious  measures to improve the economy, added further impetus to the markets and the NIFTY spurted to close the week strongly  at 5578. Over the weekend the government has announced further liberalisation measures, with much awaited FDI in aviation, retail,  power exchanges and cable networks, which should ensure a robust monday morning opening. Further, we also have the RBI  credit policy on monday. All these events make monday a high volume day and a like trend change date. Monday is likely to be  a day with unmatched bullish euphoria, short covering, action packed accompanied with high volumes, which is not likely witnessed  again in the near future. Check if the high recorded on monday/tuesday is not exceeded in the week and it is quite likely that  we record the weekly high in the first half of the week. In the current week NIFTY has support @ 5646 - 5702 - 5874 while resistance will be @ 5467 - 5426 - 5362. We continue to have  bullish view on the NIFTY with a weekly closing stop loss of 3258. In the current week the key NIFTY pivot to be watched is 5632. If the NIFTY manages to trade above 5632 ( is expected to  trade above 5632, on FDI news) then it will be a bullish signal for the long term, with a stop loss of 5215. In such a scenario  NIFTY has the potential to rise upto 6550 by April 2013 ( with a stop loss of 5215). However, only if the NIFTY is unable to rise above 5632 , and then falls down and breaks 5215, then it can fall further to levels  of 4800. The chances of this bearish wave count are considerably reduced once the NIFTY trades above 5632. In the current week, in view of the exceptionally bullish euphoria prevailing in the market, chances are quite high that the NIFTY  makes a significant intermediate high on monday/ tuesday at around 5650 - 5700 levels and enters into a slow sideways corrective  mode, which can make the NIFTY trade in range of 5700 - 5500 - 5400 for the next few days. We would suggest profit booking on  monday/ tuesday and again scout for buying opportunites on declines near 5500 -5400 with a stop loss of 5215.

FLAT MARKET IN LINE WITH REST OF ASIAN MARKETS....ALL WORLD WAITING FOR BIG EVENT TONIGHT AT 10-45 PM INDIAN TIME....FED DECISION ON QE-3.....NOW FOR TODAY

5460 NF WILL ACT AS FIRST HURDLE OF BULLS....ON FALLS 5410 NF BULLS LAST HOPE SUPPORT

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS.....WATCH

GODREJ INDUSTRIES LTD

 SIGNATURE  CALL!!!

CMP:280

BUY 50% AT 280

ADD REST 50% AT 260

AFTER BREAKING OUR LOWER LEVELS WE WILL UPDATE STOPLOSS

TARGET 340/370

TIME HORIZON:30-45 Days

 MArket Update On 12 sept

HIGHER MARKET IN LINE WITH REST OF ASIAN MARKETS AND IN LINE WITH SUPPORT TO MARKET YESTERDAY BY FII'S......BUT AS WE HAVE IIP FIGURES TODAY SO EYES ON IT.......NOW FOR TODAY

5450 NF WILL ACT AS FIRST HURDLE OF BULLS....ON FALLS 5390 NF LAST HOPE SUPPORT OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS.....WATCH

WEEKLY MARKET UPDATE AS ON MONDAY 10 th SEPTEMBER 2012

NIFTY SPOT - (5358.7)

NIFTY traded as per anticipation for the the 1st half of the week, however the ECB meeting gave a much required impetus to the global markets and the Indian markets also joined with the global rally. It must be noted that that we wanted the NIFTY to give a weekly close below 5258, for further bearishness. It is this closing level that the NIFTY has strongly defended, which keeps the uptrend still on. Ironically heavyweight stocks like SBI, ICICI, Axis, Sterlite, REC, PFC have already peaked out and have recorded major falls while the HIndustan Lever, ITC, TCS, INFOSYS continue to post gains. In the current week NIFTY has support @ 5309 - 5258 - 5215 while resitance will be @ 5400 - 5444 - 5475 - 5530. We continue to have bullish view on the NIFTY with a weekly closing stop loss of 3258. Even though the market is still in an upmove the upmove appears to be a weak upmove. In this rally the NIFTY should ideally have upsdie targets upto 5475. However the NIFTY should be considered to be bullish only if it moves above 5640. If in this rally if the NIFTY is unable to move 5640 we can expect a sharp fall which can take the NIFTY to sub 4800 levels quickly. Hence profit booking is highly recommended above 5450 levels. Trade bullish but with small quantity and book profits above 5450.

Market Update on 11 th sept

WEAK MARKET IN LINE WITH REST OF ASIAN MARKETS......NOW FOR TODAY

5330 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS....ON BOUNCE...5380 NF FIRST HURDLE OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS....WATCH

Market Update:

LITTLE HIGHER MARKET IN LINE WITH REST OF ASIAN MARKETS .....NOW FOR TODAY

5400 NF WILL ACT AS FIRST HURDLE OF BULLS...ON FALLS...5340 NF LAST HOPE SUPPORT OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS....WATCH

Market Update on 6th Sept

FLAT MARKET IN LINE WITH REST OF WORLD...AS ALL EYES ARE ON ECB MEET TONIGHT AROUND 10 PM WHERE DRAGHI WILL SPEAK ABOUT THE BOND BUYING PROG. OF EUROPE......NOW FOR TODAY

5220 NF WILL ACT AS LAST HOPE SUPPORT OF MARKET....WHILE ON BOUNCE 5280 NF ...FIRST HURDLE OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS....WATCH

Market Update on 5 sept

WEAK MARKET IN LINE WITH REST OF ASIAN MARKETS.......NOW FOR TODAY

5250 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS...ON BOUNCE 5300 NF FIRST HURDLE OF BULLS

ALMOST SAME RANGE WHICH WE GAVE YOU YESTERDAY AND FULL DAY NEITHER BULLS NOR BEARS WERE ABLE TO BREAK IT ..SO UNLESS ANYONE OF THEM BREAKS IT...NO FURTHER MOVES ....WATCH

FII'S TODAY BOUGHT NET 304 CR NET IN CASH WHILE DII'S SOLD NET 105 CR IN CASH
FII'S IN F&O SOLD NET 318 CR IN INDEX FUTURES AND SOLD NET 406 CR IN STOCKS FUTURES

SO TODAY WAS THE DAY WHEN THOUGH FII'S LEND SOME SUPPORT IN CASH TO MARKET REASON WHY INDEX RECOVERED FROM LOWS OF 5258 NF WHEN WE GAVE YOU IN THE MORNING SUPPORT OF 5250 NF...AND IT DID HIGH OF 5304 NF BEFORE CLOSING AT 5302 NF.
NOW MOVING ONWARDS THOUGH LOT WILL DEPEND UPON GLOBAL CUES BUT FUNDS SUPPORT IS NEEDED TO KEEP THE MOMENTUM OF MARKET GOING CAUSE EVEN TODAY IF FII'S BOUGHT 304 CR IN CASH THEY SOLD 318 CR IN INDEX FUTURES AND 406 CR IN STOCKS FUTURES SO CLEAR THEY DO NOT POST MUCH BULLISH PICTURE...UNLESS IT IMPROVES TOO MUCH UPSIDE OF MARKET ON ANY RECOVERY IS CAPPED....WATCH

Market Update on 4th sept

LOWER MARKET ON EXPECTED LINES...AS US MARKET WAS CLOSED AND ASIA LITTLE WEAK...AND EFFECT OF SELLING FROM FII'S DII'S OF YESTERDAY......NOW FOR TODAY

5250 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS...ON BOUNCE...5310 NF BULLS HURDLE

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS...WATCH

WEEKLY MARKET UPDATE AS ON MONDAY 03 rd SEPTEMBER 2012

NIFTY SPOT - (5258.5)

In our last weekly we had maintained a bullish stance with a stop loss of 5258.5 on a weekly closing basis. Contrary to our view, marke t traded with a negative bias throughout the week, but the bulls managed to close the week above our crucial level of 5258 and  salvage some pride. Even though the markets have closed above 5258, it now appears that the bulls have won the battle but have  lost the war !!! In the current week NIFTY has support @ 5194 - 5130 - 5030, while resistance can be aniticipated at 5322 - 5369 - 5386. We  will have a bullish outlook, only if the NIFTY closes above 5417 and will have a bearish outlook if the NIFTY closes below 5258.  If the NIFTY trades between 5417 - 5258, we should still have a bearish stance and use a sell on rallies strategies and look for  a bearish close below 5258 for further bearishness. Ideally in the current week NIFTY can post a small rally in the first 2 trading days to levels of 5293 - 5327. After this rally if the NIFTY breaks below 5238 then the NIFTY can fall down further to 5193 - 5130. A NIFTY weekly close below 5193 on or before 15th september  can take it to levels of 5130 - 5001 - 4873 by the end of september.

POSTIONAL TRADING CALLS 1. Sell REC @ 185-190. Stop loss 203. Time & price Target 160 on or before 5th / 25th september.

Market Update On 3rd sept

LITTLE HIGHER MARKET IN LINE WITH REST OF ASIAN MARKETS.....NOW FOR TODAY

5290 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS.....ON BOUNCE 5350 NF FIRST HURDLE OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS....WATCH

Market Update on 31 st Aug

LITTLE WEAK MARKET IN LINE WITH REST OF ASIA.....NOW FOR TODAY AS WE HAVE GDP FIGURES WHICH WILL DETERMINE MARKET MOVE AND 
IN WORLD FRONT WE HAVE JACKSON HOLE MEET..WHERE WILL BE KNOWN IF QE-3 COMES OR NOT..
SO CRUCIAL DAY BOTH IN INDIA AND WORLD......NOW FOR TODAY

5290 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS....ON BOUNCE...5350 NF FIRST HURDLE OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS....WATCH

Market Update:

FLAT MARKET IN LINE WITH REST OF ASIAN MARKETS......NOW FOR TODAY

5380 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS....ON BOUNCE 5430 NF FIRST HURDLE OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS....WATCH

Global mkts slip, will it spoil Nifty's weekend?

The US markets ended near session lows, with all key S&P sectors finishing in the red, amid fears over the weak global economy and as optimism over further stimulus the Federal Reserve diminished.

Market Update on 24 Aug

WEAK MARKET IN LINE WITH OTHER ASIAN MARKETS......NOW FOR TODAY

5390 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS......ON BOUNCE...5450 NF FIRST HURDLE OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS....WATCH

WEEKLY MARKET UPDATE AS ON MONDAY 06 th AUGUST 2012

NIFTY SPOT - (5216)

In our last weekly update we had suggested to be cautiously bullish. We had also mentioned that if the NIFTY gives a weekly  close above 5207 it should be heading for a target of 5317 by 15th August. NIFTY traded with a positive undertone all throughout  the week and also gave a strong weekly close by closing above 5207 @ 5216. In the current week NIFTY has support @ 5078 - 5142 - 5185 while resistance can be expected at 5315 - 5379 - 5512. As the NIFTY has given a weekly close above 5207, we should see the NIFTY trading with a strong bullish undercurrent. In our last weekly report we had mentioned that if the NIFTY gives a weekly close above 5207, it is heading for a target of 5317 before 15th August, which should be comfortably achieved in this week. If in this week the NIFTY gives a weekly close above 5324, NIFTY will then have upside targets of 5432 - 5649 by August end. Even though the minimum upside target is 5315, the important TIME & PRICE target to watch out for is 5349. If the NIFTY  rises above 5349 (it is expected to) on or before 13th August , it will give a major bullish breakout for a target of 5512 and then 5610. As the NIFTY has over 1 week within which it has to move up by only around 130 points, this milestone is easily likely to  be scaled. Further the NIFTY and many of its heavyweights like ITC, SBI, ICICI, Ambuja Cement, Reliance etc are in a strong  momentum grip, which indicates higher targets for the NIFTY. Only, If the NIFTY is unable to rise above 5349 by 13th August, it will signify weakness, will give a bearish signal and can fall  back to 5100 - 5050 levels. However this wave count looks unlikely as of now.

KEY EVENTS TO WATCH IN THIS WEEK

1. If the NIFTY moves above 5349 on or before 13th August.

2. If the NIFTY gives a weekly close above 5324.

Trade with a bullish bias.

POSTIONAL TRADING CALLS 1. Buy Ambuja Cement @ 182. Stop Loss 174.5. Target 204 - 220. 2. Buy ITC @ 258 - 260. Stop Loss 248. Target 268 - 280. 3. Buy SBI @ 2010-2020. Stop loss 1980. Target 2085 - 2135

FLAT MARKET IN LINE WITH OTHER ASIAN MARKETS.....NOW FOR TODAY...

5080 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS....ON BOUNCE 5140 NF FIRST HURDLE OF BULL

ONLY BRAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS
AS IT IS LAST DAY OF F&O SETTLEMENT SO MOST OF ATTENTION WILL BE FOCUS ON EXPIRY CENTERED....WATCH

WEEKLY MARKET UPDATE AS ON MONDAY 23 rd JULY 2012

NIFTY SPOT - (5198)

In our last weekly update we had suggested to buy on a slow 2/3 day fall to 5181-5131 level, with a stop loss of 5059 on a closing basis, and for a target of 5400. NIFTY had a slow fall in the first 2 days and made a weekly low of 5169 and rallied form this low to a weekly high of 5257 and closed the week @ 5198 . In the current week NIFTY has resistance @ 5249 - 5269 - 5290 while support is @ 5135 - 5044 - 4990. In the current week NIFTY, it is likely that NIFTY can post a fall to levels of 5135 - 5044 by wednesday. This fall will be  accompanied with sizeable trading volumes and also some negative news in the global financial markets. Ideally one can expect a fall to 5100 - 5060 levels by tuesday/ wednesday. One can start buying during this decline on wednesday near 5060-5075 levels with a strict stop loss of 5059 on a closing basis. It should be noted that 4990 is the next strong support level below 5044, and should  also hold good. A strong rally is expected to emerge from midweek onwards which can take the NIFTY back to levels of 5250.  Traders can consider going long on wednesday with a strict stop loss of 5059 on a closing basis for a first target of 5250.

POSITIONAL TRADING CALL

1. Buy BF utility on decline to 440. Stop Loss 420. Target 500+

2. Buy ITC on decline to 248. Stop loss 240. target 275 +

WEEKLY MARKET UPDATE AS ON MONDAY 23 rd JULY 2012

NIFTY SPOT - (5198)

In our last weekly update we had suggested to buy on a slow 2/3 day fall to 5181-5131 level, with a stop loss of 5059 on a closing basis, and for a target of 5400. NIFTY had a slow fall in the first 2 days and made a weekly low of 5169 and rallied form this low to a weekly high of 5257 and closed the week @ 5198 . In the current week NIFTY has resistance @ 5249 - 5269 - 5290 while support is @ 5135 - 5044 - 4990. In the current week NIFTY, it is likely that NIFTY can post a fall to levels of 5135 - 5044 by wednesday. This fall will be accompanied with sizeable trading volumes and also some negative news in the global financial markets. Ideally one can expect a fall to 5100 - 5060 levels by tuesday/ wednesday. One can start buying during this decline on wednesday near 5060-5075 levels with a strict stop loss of 5059 on a closing basis. It should be noted that 4990 is the next strong support level below 5044, and should also hold good. A strong rally is expected to emerge from midweek onwards which can take the NIFTY back to levels of 5250. Traders can consider going long on wednesday with a strict stop loss of 5059 on a closing basis for a first target of 5250.

POSITIONAL TRADING CALL

1. Buy BF utility on decline to 440. Stop Loss 420. Target 500+

2. Buy ITC on decline to 248. Stop loss 240. target 275 +

LITTLE WEAK MARKET IN LINE WITH REST OF ASIAN MARKETS....WITH DOW FUTURES DOWN 30.....NOW FOR TODAY

5210 NF WILL ACT AS LAST HOPE SUPPORT OF MARKET...ON BOUNCE 5260 NF...BULLS FIRST HURDLE

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS....WATCH

KEEP EYE ON POLITICAL SITUATION WHERE GOVT AGAIN FACES PRESSURE FROM NCP SHARAD PAWAR ON A SMALL ISSUE HE WANTS TO BE NAMED NO-2 IN MINISTRY..AFTER PRANAB EXIT AND SIT NEXT TO PM

LITTLE HIGHER MARKET IN LINE WITH REST OF ASIAN MARKETS...WITH DOW FUTURES TRADING HIGHER BY..60 POINTS EARLY MORNING....NOW FOR TODAY

5210 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS ON BOUNCE..5260 NF FIRST HURDLE OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS....WATCH

FII'S TODAY WERE BUYERS OF 257 CR NET IN CASH..WHILE DII'S WERE SELLERS OF 40 CR NET IN CASH

SO TODAY WAS THE DAY WHEN FII'S CONTINUE THERE SUPPORT IN CASH TO MARKET...RESULTS ALL DIPS NEAR 5220 NF WAS BEING BOUGHT IN THE MARKET....LATER IN THE DAY WHEN EUROPEAN MARKET SHOWED WEAKNESS THEN MARKET SLIPPED HERE TO TOUCH 5200 NF WHICH WAS TOLD WELL IN ADVANCE

NOW MOVING ONWARDS...THOUGH LOTS WILL DEPEND UPON GLOBAL TRIGGERS...BUT EVEN THEN 5170 NF--TO..5200 NF CAN SEE BIG FIGHT BETWEEN BULLS AND BEARS
BEARS WHICH SHORTED HEAVY TODAY 5200 CALLS THEY MADE THERE FRESH POSITIONS TODAY TO BREAK 5200 THAT WAS ONE OF REASON WHY WE ASKED YOU TO AVOID BUYING AFTER 3 PM AT 5220 SUPPORT AS IT WAS EXPECTED TO BREAK AND YOU ALL SAW IT WENT TO 5200 NF
NOW TODAY ALONG WITH GLOBAL TRIGGERS WE CAN SEE FIGHT IN ZONE OF 5170--5200 NF ONLY IF MARKET BREAKS 5170 NF ONE CAN EXPECT MORE PRESSURE......WATCH

WEEKLY MARKET UPDATE AS ON MONDAY 16 th JULY 2012

NIFTY SPOT - (5228)

In our last weekly update we had given 2 wave counts but had given a higher weightage for a slightly more bearish outlook,  wherein if the NIFTY breaks 5260 a fall to 5150 - 5100 was expected. NIFTY broke below 5260 and then made a weekly low of 5217 and closed the week @ 5228. In the current week NIFTY has resistance @ 5284 - 5360 - 5450 while support is @ 5210 - 5181 - 5136. Even though we have a bullish outlook on the NIFTY, it is likely that NIFTY can post a mild dip to levels of 5181 - 5131 by  wednesday / thursday. This dip will be accompanied with low trading volumes and lack of trading interest. Even though this small fall is expected it will be advisable to refrain from selling @ 5225 levels, but instead wait patiently for a small 2/3 day fall o 5181 - 5136 levels and look for buying opportunities after wednesday near 5180 - 5136 levels, for a target of 5400 + and with a stop loss of 5059 on a closing basis.

POSITIONAL TRADING CALL

Buy BHEL on decline to 227 by wednesday/thursday. Stop Loss 219. Breakout @ 237. Target 248 - 270.

Market Update On 13 July

LITTLE HIGHER MARKET IN LINE WITH REST OF ASIAN MARKETS..AND BETTER THAN EXPECTED RESULTS FROM TCS .......NOW FOR TODAY

5290 NF WILL ACT AS FIRST HURDLE OF BULLS...ON FALLS...5240 NF LAST HOPE SUPPORT OF BULLS

SAME RANGE WHICH WE GAVE YOU YESTERDAY AND FULL DAY NEITHER BULLS NOR BEARS WERE ABLE TO BREAK IT TODAY UNLESS BULLS OR BEARS BREAK IT NO FURTHER MOVES FROM THEM.....WATCH

WEAK MARKET ON EXPECTED LINES AFTER WEAK RESULTS FROM INFOSYS...NOW FOCUS ON NEXT EVENT..IIP....FOR TODAY

5230 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS....ON BOUNCE..5290 NF FIRST HURDLE OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS....WATCH

Major & Important events for  12th July:-


1. Infosys quarterly results & it will be declared most probably before market opens tomorrow.


2. IIP data will be declared approximately at 11 AM


3. TCS Results will be declared around 6 PM


Just keep it in mind that Infosys & TCS have combined weightage of 12% so it will definitely 
affect Nifty and the whole Indian stock market. Morning shows the day, so tomorrow within 
half an hour after opening bell, the fate of the Indian Stock markets will be decided.


whatever may be, just be careful as Indian stock market will be abruptly volatile throughout the day

Market Update:

LITTLE LOWER MARKET IN LINE WITH REST OF ASIA....NOW FOR TODAY

5310 NF WILL ACT AS LAST HOPE SUPPORT OF BULLS....ON BOUNCE...5370 NF FIRST HURDLE OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS.....WATCH

Weekly Update on 9th July 2012 NIFTY SPOT - (5317)

In our last weekly update we were anticipating a small pullback to 5200 - 5225 and then resume its upward momentum. NIFTY traded in a narrow corrective range of 70 points between 5333 - 5263 and closed the week @ 5317. In the current week NIFTY has resistance @ 5414 - 5450 - 5513 while support is @ 5260 - 5210 - 5160. In the current week NIFTY can move in 2 wavecounts :

WAVE COUNT 1 : PROBABILITY 30%

If on monday / tuesday if the NIFTY stays above 5260, and then moves above 5335, it can rally upto 5414 - 5450 - 5492.  In such a scenario, NIFTY can post an intermeditate high on a 3 day rally in the range of 5450 - 5492 on wednesday /thursday and  enter a corrective phase with a sharp fall on thursday/ friday. This fall can also be trigerred by an eventful day on thursday  with results from Infosys and TCS and also accompanied with the IIP data.

WAVE COUNT 2 : PROBABILITY 70%

However if 5260 is broken and if the NIFTY is unable to rise above 5335, it can then fall down to the earlier congestion zone  of 5150 - 5170, whereby it should get fresh support which can take it to higher levels of 5400 +.

TRADING STRATEGY :

Book profit on longs and stay in cash to buy @ lower levels near 5160.

HIGHER MARKET IN LINE WITH WORLD MARKET..AS POSITIVE REPORTS COMING FROM EUROPEAN UNION SUMMIT...WHICH HAS RESULTED IN HUGE JUMP IN DOW FUT BY 100 POINTS...DAX FUT UP 100 , FTSE FUT UP 90 SO WHOLE EUROPE IN CELEBRATION MOOD......NOW FOR TODAY

5260 NF WILL ACT AS FIRST HURDLE OF BULLS....ON FALLS...5210 NF LAST HOPE SUPPORT OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS

NOTE ..AS TODAY'S RALLY IS ONLY CENTERED FROM EUROPE...SO HOW EUROPE OPEN AND TRAD..AT 12-30.. 

WILL DETERMINE MOVES OF MARKET.....WATCH

OPTIONS UPDATE AT 2 PM..( 20-6-2012 )

BULLS SINCE MORNING IS SELLING HEAVY NIFTY 5000 PUTS...AND OUTSTANDING IN IT HAS CROSSED 85-00 LACS..... MEANS WITH 6 TRADING DAYS IN THIS SETTLEMENT...BULLS OPENING THERE CARD THAT THEY WILL FIGHT ANY FALL NEAR 5000 NF

ON OTHER SIDE..BEARS ARE HEAVILY SHORTING NIFTY 5200 CALLS..WHERE OUTSTANDING HAS REACHED 75 LAC LEVELS...AND BULLS STILL HAVE TO MAKE ANY BIG OUTSTANDING AT 5200 PUTS...WHICH MEANS BULLS...FEEL EXPIRY CAN BE BELOW 5200 NF

AT 5100 LEVEL THERE IS REAL FIGHT GOING ON WHICH WE EXPECTED IN THE MORNING AND WE GAVE YOU TODAY RANGE OF NF ALSO...30 POINTS LOWER AND 30 POINTS HIGHER TO 5100 NF AND YOU ALL ARE SEEING MARKET STICKING TO THAT RANGE
SINCE MORNING WHILE BULLS ARE SHORTING 5100 PUTS..BEARS ARE SHORTING 5100 CALLS AND OUTSTANDING AT BOTH..5100 CALL HAS OUTSTANDING OF 65 LAC AND PUT HAS OUTSTANDING OF 50 LAC WHICH MEANS IT IS OPERATORS PLAY GOING ON AND TODAY THEY HAVE MADE POSITIONS ..JUST TO EAT PREMIUM OF 5100 CALL + PUT COMBINED..BUT AS TODAY 5100 PUTS ARE BEING MORE SHORTED AS COMPARED WITH CALLS..SO TODAY BULLS WILL NOT LET MARKET BREAK 5100 NF WITH EASE AND WILL SUPPORT THAT LEVEL.....WATCH

TODAY WE HAVE CRUCIAL FED MEET.....THOUGH EXPECTED IS NO CHANGE IN RATES...AS FED HAS SAID NO CHANGE TILL 2014

BUT EYES WILL BE ON ...QE-3...AND ...LANGUAGE OF FED ON WORLD ECONOMY AND EFFECT OF OTHER MEASURES TAKEN BY FED IN LAST MONTH

IF QE-3 COMES...IT WILL BE ZOOM FOR GOLD AND SILVER..AND STOCK MARKET WILL BE BULLISH ....SO KEEP CLOSE EYE ON IT...WATCH

FLAT MARKET IN LINE WITH REST OF ASIAN MARKETS....AS WORLD WAIT TODAY FED DECISION......NOW FOR TODAY

5130 NF WILL ACT AS FIRST HURDLE OF BULLS....ON FALLS....5070 NF LAST HOPE SUPPORT OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS.....WATCH

HIGHER MARKET IN LINE WITH REST OF ASIAN MARKET...AS GREEK ELECTIONS GAVE +VE RESULTS AND NEW DEMOCRATIC PARTY WHICH WON IT FAVOURS REMAINING IN EURO ZONE...WHICH EFFECT IS BEING SEEN IN ALL EUROPEAN FUTURES TRADING HIGHER...BUT HERE WE HAVE CREDIT POLICY TODAY SO EYES WILL BE ON DOMESTIC EVENT FIRST
NOW FOR TODAY

5200 NF WILL ACT AS FIRST HURDLE OF BULLS...ON FALLS...5150 NF BULLS SUPPORT

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS.....WATCH

ON MONDAY...18 JUNE .. 

WE HAVE..EFFECT OF GREECE ELECTIONS RESULT WHICH WILL BE HELD ON 17 JUNE
WE HAVE CREDIT POLICY
BY THEN WE CAN KNOW FULLY ABOUT NEXT PRESIDENT CANDIDATE

SO CRUCIAL EVENTS AHEAD...PLAY SAFE AND PLAY LIGHT ON WEEKEND...THOSE WHO WANT TO TRADE...BEST WILL BE OPTIONS ROUTE...WATCH

Market update On 15th June 2012

HIGHER MARKET IN LINE WITH REST OF ASIAN MARKET WITH BIG RISE SEEN LAST NIGHT IN DOW....NOW FOR TODAY

5110 NF WILL ACT AS FIRST HURDLE OF BULLS....ON FALLS...5050 NF LAST HOPE SUPPORT OF BULLS

ONLY BREAKING THIS RANGE WILL SET FURTHER MOVES FROM BULLS OR BEARS

EYES WILL BE ON POLITICS OVER PRESIDENT ELECTION
ADVANCE TAX NUMBERS WHICH WILL COME TODAY WILL DETERMINE HOW COMPANIES PERFORMED LAST QUARTER