MARKET UPDATES...

Book full profits in NIFTY....
In morning, it was told to buy NIFTY with strict SL-4742.6.
NIFTY has achieved all our targets.

THURSDAY- 24.05.2012


NIFTY
Yesterday NIFTY-spot showed no signs of weakness despite all the world markets are bleeding. On the contrary, NIFTY was showing some strength.
Yesterday, all european markets bleeded like anything. All the European markets CAC, DAX, FTSE ended in the RED.


But as our chart suggest, I feel NIFTY will show some upmove in the coming days (see chart).

It has made a higher highs and higher lows in the past few days.


TRADING STRATEGY- 


Buy NIFTY with strict 
SL-4742.8(spot) for targets of 4850, 4900 in the coming days.

TODAYS TRADING CALL....

Short SBI-cash around 1948 levels with SL1970, 

for targets of 1885, 1860 levels.

Yesterday, Bearish engulfing pattern was formed 

which is a bearish pattern showing that 

there is more downside in the stock. 

Today if it closes below 1920, 

then this pattern will be 

confirmed.

SBI is in downward trend 

with ultimate target of 1673 &1618.

NIFTY-

Still the NIFTY is in downtrend. 

we can see bouts of upmove but that 

upmove is not so strong to push NIFTY above 

4950 levels. The last trend reversal support of NIFTY lies around 4550-4560 levels from where the NIFTY bounced back in the month of Dec-2011 when it made a

 low of 4531.Today Short NIFTY around 4891 

levels with SL-4906 for 

target of 4837, 4800.

MARKET UPDATES...
NIFTY(spot) has retraced 14.6% from the low levels 4788 it has made in the last week.
Certainly there is upside in the NIFTY but it will not come as a steep upside. Resistance at the upper levels are-4986 and 5109.


As per the technical charts, NIFTY may touch 5150 levels in the current upmove.

WORLD MARKET UPDATES..

HANGSENG- 19423 (470 dwn)
NIKKEI- 8838 (62 dwn)
TAIWAN- 7346 (49 dwn)
STRAITS TIMES- 2847 (29 dwn)


we expect our market to open around 4880 -4900 levels.

UPDATES...

NIFTY IS NEAR OUR TARGETS OF 4940. bOOK FULL PROFITS.

NIFTY UPDATES...
Since NIFTY upmoves everytime it goes below 4900 thas showing stron base at 4900 levels. As per charts & technical indicators, 

NIFTY may try to found support at 4750-4780 levels in the worst case. Problem will arise only if NIFTY manages to close below 4750 levels.


It is better to start forming LONG positions with strict SL-4750 if there is a panic fall in the market that drives NIFTY below 4850 levels.

UPDATES...


INFOSYS ACHIEVED OUR TARGET OF 2372. BOOK COMPLETE PROFIT.

UPDATES...

NIFTY- Buy NIFTY with SL NIFTY(Spot)-4921 for target of 4940. For better position keep SL-4890


Buy INFY @2355 with target of 2372

UPDATES....

ICICI BANK achieved first target -796.

MARKET UPDATES.......

Short ICICI BANK below 802 for target of 796, 790. Stop Loss-808

UPDATES

NIFTY UPDATES

NIFTY is taking support @4900. there is possibility of relief rally from this point but it will sustain only upto 5043 levels. As chart suggests

If these levels are breached on the upside then we can see 5113 levels during the relief rally.

Until NIFTY bottoms out, No trading calls from our side.

Till then...

happy trading....

MARKET UPDATION....

No Trading Calls.....for today

NIFTY-

Risky traders can Short NIFTY if  NIFTY(spot) trades above 5018 level with strict SL-5043.5. It is better to short around these levels for maximum gains.

NIFTY(spot)  is taking support @ 4950. If these levels broke we can see 4794 & 4771 levels very soon.

UPDATES...

MARKET UPDATE...

Watch for the NIFTY support at 5042 and 4986.
Wait for the fresh investment until the market bottoms out.

UPDATES...for 07.05.2012

On 04-05-2012 NIFTY broke the important pshycological support of 5130 and 5100 too. It also breached the 200DMA. Currently NIFTY is trading at its 50% retrcement from the top of 5607 it made on 21st Feb-2012 (see chart)

As far as charts are concerned, NIFTY's immediate support are coming at 5045 and 5002 levels.

But the MAJOR support of NIFTY is at 4963 level.
There might be a possibility that NIFTY may bounce back from 5047 Levels for the target of 5111 levels. If it breaches the levels of 5047 then levels to watch on the downside are 5002 & 4963 levels.

TODAYS TRADING STRATEGY-

Buy NIFTY if it doesnt breaches 5047 levels with SL of 5035 for the target of 5111 in 2-3 days.

If NIFTY breaches 5047 level with a gap down opening then wait & watch the level of 5002. Buy it with a SL of 4995 and GO LONG for the target of 5042 Level.

DEPRECIATING RUPEE & GLOBAL UNSTABLITY PULL THE NIFTY BELOW 200DMA


Today NIFTY broke its 200DMA and closed down @ 5086, shattering all hopes. Further, EUROPE's unstability also added to the woes making it a grim situation for the investors of India. 


Rs against $ fell to 53.40 levels. Where it is a favourable situation for the exporters, it is a cause of worry for the FII's.


In todays market, all the front liners fall like a pack of cards. All the sectors of NIFTY ended in RED.


Now reassessment of NIFTY levels is necessary before making any new investment.


We will update you on the levels of NIFTY very soon....

UPDATES....


All targets of TCS achieved.
SMS was sent in the morning to subscribers to buy Hindunilever @426.
Now its trading @ 434. 

UPDATES.......


TCS 1st target achieved @1272...hold for the 2nd target of 1278

UPDATE...


As expected NIFTY(spot) gave a gap down opening and presently trading @5210 levels.


Buy TCS @ current levels. SL-1258 Target-1272/78
Buy NIFTY @ 5217 SL-5200 Target-5230/42


More updates will follow soon....

CLOSING ALERT


As mentioned in my previous blog, NIFTY fails to stand above 5275-5300. 


Todays US, CAC, DAX, FTSE all are negative. Only CAC is trading with some +ve bias.


Tommorrow NIFTY(spot) might give a gap down opening with immediate support at 5200. If it breaches 5200, then it is possible for us to see 5185, 5175, 5160 levels.


It is better to buy at these levels with strict stoploss of 5130 levels. Since NIFTY is rangebound for the past few weeks so there may be a possibilty that we may see 5235, and 5260 levels once again.


Happy trading to you all....