| 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. | |||
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Monday, 3 September 2012
Sunday, 2 September 2012
Thursday, 30 August 2012
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 ANDIN 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
Sunday, 26 August 2012
Thursday, 23 August 2012
Sunday, 5 August 2012
| 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. | |||||
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