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.