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