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.