Monday, 24 October 2011

NIFTY Intraday October 24th

Buy at / above: 5058.76   Targets: 5074.02 - 5091.84 - 5109.69 - 5127.57 Stoploss : 5041
Sell at / below: 5041   Targets: 5025.77 - 5008.06 - 4990.38 - 4972.73 Stoploss : 5058.76



The market has opened 64 points up @ 5114 - we shall face some stiff resistance @ 5125 and 5150 levels -
The EU Summit shall have to come to a conclusion on its debt issues by Wednesday which according to us should be resolved and the results  should be positive. The RBI also has decided to meet on the 25th to discuss its issues with rate hikes and inflation. Would the 13th rate hike be lucky for the Indian investors ?
Buy at / above: 5058.76   Targets: 5074.02 - 5091.84 - 5109.69 - 5127.57 Stoploss : 5041
Sell at / below: 5041   Targets: 5025.77 - 5008.06 - 4990.38 - 4972.73 Stoploss : 5058.76



The market has opened 64 points up @ 5114 - we shall face some stiff resistance @ 5125 and 5150 levels -
The EU Summit shall have to come to a conclusion on its debt issues by Wednesday which according to us should be resolved and the results  should be positive. The RBI also has decided to meet on the 25th to discuss its issues with rate hikes and inflation. Would the 13th rate hike be lucky for the Indian investors ?

Wednesday, 19 October 2011

TRADER ALERT !! WARM UP FOR 4500 !

A single zigzag in a bull market is a simple three-wave declining pattern labeled A-B-C and subdividing 5-3-5. The top of wave B is noticeably lower than the start of wave A, as illustrated in Figures 11 and 12.
Occasionally zigzags will occur twice, or at most, three times in succession, particularly when the first zigzag falls short of a normal target. In these cases, each zigzag is separated by an intervening "three" (labeled X), producing what is called a double zigzag (see Figure 13) or triple zigzag. The zigzags are labeled W and Y (and Z, if a triple).
Source http://www.elliottwave.net/educational/basictenets/basics3.htm


Now compare the image above to these - we see that the wave patterns are now in the same formation - we had mentioned before that nifty was likely to get into trouble once it got close to 5200 levels. The 161.8% retracement level falls close to 4520 and after this we would start a whole new wave cycle. Seeing the global scenario we also feel that the next cycle may complete rather quickly or faster than the other cycles. 
We are currently trading at 5140 levels and wave 4 was formed @ 5160 on the 14th of october, the chances of this surpassing 5160 now seems very bleak.




Tuesday, 18 October 2011

Nifty Intraday & Technicals October 18th

Nifty spot - The market may open gap down as majority of the indexes closed n red and Asia itself is trading lower. But during the day the market shall recover majority of its losses or may even turn green. 


Buy at / above: 5130.14   Targets: 5145.48 - 5163.43 - 5181.4 - 5199.41
Stoploss : 5112.25
Sell at / below: 5112.25   Targets: 5096.93 - 5079.1 - 5061.29 - 5043.52
Stoploss : 5130.14

Monday, 17 October 2011

Nifty Intraday and technicals Oct 17th

Nifty spot - resistance today comes in @ 5165 and 5190 levels , so take profits on long quickly 
Buy above: 5148.06   Targets: 5163.43 - 5181.4 - 5199.41 - 5217.45 Stoploss : 5130.14
Sell below: 5130.14   Targets: 5114.8 - 5096.93 - 5079.1 - 5061.29 Stoploss : 5148.06



LT - confirmed the engulfing bear pattern on Friday  short positions can be taken near 1424 on upper side.
Intraday support and resistance  
RESISTANCE 2 1441.7 
RESISTANCE 1 1424.6 
SUPPORT 1  1394.8 
SUPPORT 2  1382.0  
Buy  above: 1415.64   Targets: 1424.34 - 1433.79 - 1443.27 - 1452.78 Stoploss : 1406.25
Sell  below: 1406.25   Targets: 1397.58 - 1388.25 - 1378.95 - 1369.68 Stoploss : 1415.64

Friday, 14 October 2011

Nifty Intraday Technicals Oct `14

The strong trendline made Nifty retreat after it hit a high of 5136 - I had mentioned 2 days back because of the building up steam there was an upside potential of 5130 - As for today the market may start by going up but towards the end of the day we could see some sort of a sell off. - Sell 5000 CE at higher levels -
Reliance Industries declares its results tomorrow and this could be a trend changer if it fails to keep its promises.
Support for Bank Nifty comes in @ 9480 - if it fails to hold this line we could see nifty head towards 5040 and 5000 levels .
Infy could also be losing some steam now so if during the day you feel Nifty may crack this heavy weight could lead the way - so make sure u short this at decent levels or pick up some put options for intra-day profit.


Buy above: 2704   Targets: 2715.65 - 2728.69 - 2741.76 - 2754.87  Stoploss : 2691.01
Sell below: 2691.01   Targets: 2679.4 - 2666.47 - 2653.57 - 2640.71 Stoploss : 2704



Nifty Spot 
Buy  above: 5094.39   Targets: 5109.69 - 5127.57 - 5145.48 - 5163.43 Stoploss : 5076.56
Sell  below: 5076.56   Targets: 5061.29 - 5043.52 - 5025.77 - 5008.06 Stoploss : 5094.39



Intra-day support and resistance 
 RESISTANCE 2 5163.5 
 RESISTANCE 1 5120.7 
 SUPPORT 1  5051.4 
 SUPPORT 2  5024.9  







Thursday, 13 October 2011

Nifty Intraday & Technicals Oct 13th



Buy above: 5112.25   Targets: 5127.57 - 5145.48 - 5163.43 - 5181.4 Stoploss : 5094.39
Sell below: 5094.39   Targets: 5079.1 - 5061.29 - 5043.52 - 5025.77 Stoploss : 5112.25

The markets shall remain fairly positive overall during the day. 

INFY faces resistance @ 2707 - stochastics are in an over-bought zone. The markets look negative tomorrow. positioning yourself that way today could help you make some free bucks. 
buy put options for 2500 or 2600 

Like we had expected SBIN and LT did show some violent swings yesterday and that may continue today. 
Trade smart and keep booking profits on way. 

Wednesday, 12 October 2011

Nifty Intraday Oct' 12th

Nifty Spot 
Buy at / above: 4987.89   Targets: 5003.05 - 5020.75 - 5038.47 - 5056.23 Stoploss : 4970.25
Sell at / below: 4970.25   Targets: 4955.11 - 4937.53 - 4919.97 - 4902.45 Stoploss : 4987.89



INFY was a great call for yesterday. We sincerely appreciate all your emails and notes.

Nifty has now become bullish and we expect it to touch 5130 within the next 2 days. Infosys results still worry us to a certain degree however Bank Nifty (9178) has now turned bullish and the next resistance comes in @ 9500 which could compensate for the heavy weights losses. LT and SBIN could show some promising and violent upmoves.
SBIN
Buy at / above: 1774.51   Targets: 1784.16 - 1794.74 - 1805.34 - 1815.98 Stoploss : 1764
Sell at / below: 1764   Targets: 1754.39 - 1743.93 - 1733.5 - 1723.11 Stoploss : 1774.51


CLOSE YOUR SHORT POSITIONS FOR THE TIME BEING. 

Tuesday, 11 October 2011

Nifty Intraday & Technicals Oct 11th

Nifty Spot 
Buy above: 4987.89   Targets: 5003.05 - 5020.75 - 5038.47 - 5056.23 Stoploss : 4970.25
Sell below: 4970.25   Targets: 4955.11 - 4937.53 - 4919.97 - 4902.45 Stoploss : 4987.89



BANK NIFTY 
Because of the gap up opening 9190 now becomes a support line - above 9332 gap filling up till 9420 shall take place and you can expect some violent up moves.
BUY BN above 9240 - trgts - 9284-9332- 9420


The market may open gap up but has strong resistance @ 5035 and 5060. The gains maybe short lived and maybe erased during the second half - Book profits on the go. If you feel trapped in a stock book losses and get out but do not hang in there waiting for your price to come back. 


Infy posts its results soon - and we highly doubt the results would be anything extra ordinary - the way Infosys has been behaving we could see some major drops pretty soon. 
BUY 2450 PE @ 51 keep stoploss @ 40 target 75-80 

Monday, 10 October 2011

Nifty Intraday & Technicals Oct'10th

Nifty Spot 


Buy above: 4900   Targets: 4915.05 - 4932.59 - 4950.16 - 4967.76 Stoploss : 4882.51

Sell below: 4882.51   Targets: 4867.49 - 4850.06 - 4832.66 - 4815.29 Stoploss : 4900   



BANK NIFTY 


Bank Nifty has broken its August low of 8917. The Index came under serious pressure after Moody's downgraded SBIN. We may see some resistance @ 9200 levels. 
Buy above 9042 trgt - 9120 , 9192 , 9267
Sell below 8970 trgts - 8893, 8818 , 8770 

Friday, 7 October 2011

Nifty Technicals October 7th

Buy at / above: 4761   Targets: 4775.87 - 4793.16 - 4810.48 - 4827.83 Stoploss : 4743.76

Sell at / below: 4743.76   Targets: 4728.92 - 4711.74 - 4694.59 - 4677.47 Stoploss : 4761


Markets should be green and positive for most of the trading day !



Monday, 3 October 2011

Nifty Technicals October 3rd

The ECRI last week released a report last week on how at this stage a "Double Dip" recession for America was INEVITABLE . I consider the ECRI as a highly reliable and a very efficient  source of information. The report goes on the emphasze that now the government can do nothing to avoid this or stop it or fix it. The time to actually do anything about it has long come and gone. (LINK )


The Indian government has also announced it will borrow 53000 cr from the market during the second half of this fiscal year. Against the earlier targeted Rs 1,67,000 crore in October-March, the borrowing will be Rs 2,20,000 crore.LINK )What does this mean ? This means that the interest rate hikes will continue. So high interest rates, tight liquidity and a slowdown. 


Buy above: 4952.64   Targets: 4967.76 - 4985.39 - 5003.05 - 5020.75 Stoploss : 4935.06

Sell below: 4935.06   Targets: 4919.97 - 4902.45 - 4884.95 - 4867.49 Stoploss : 4952.64