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