Market updates for 06/02/2013

Nifty daily chart

Nifty has tested support around 5940. Closing below 5940 will take Nifty to 5900 and may be much lower. Wait and watch.

Sun Pharma

Today Sun Pharma has reached an important resistance level which is around Rs.750. Long can be initiated if it closes above the trend line resistance.

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day

Those who have conqured themselves live in peace , alike in cold or heat , pleasure or pain , praise or blame . To such people clod of dirt , a stone and gold are same. They will achieve great heights - Bhagavad Gita

Market updates for 05/02/2013

Nifty daily chart

As expected Nifty has continued to fall and now it has closed below psychological level 6000 by closing at Rs.5987. Now it is likely to test 5950.

SBI weekly chart

Scroll down and refer market updates  for 31/01/2013 we have  initiated short in SBI fut at Rs.2446 what is the price now Rs.2363 how much profit ? Rs.10375 per lot. We are still holding short.

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day

 

Never tell a problem to anyone because 20% don't care and 80 % are glad you have them - Lou Holtz

Trading call performance in the month of January

 

FnO Segment

 

 Commodity Segment

Cash Market Segment

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Market updates for 04/02/2013

Titan 

Titan was facing resistance around Rs.280. As you can see in the above mentioned chart it has tested this level thrice. But now it has breached this resistance and so we have initiated long in Titan.

ITC

ITC has breached previous peak at Rs.306.5. Now it is expected to reach trend line resistance around Rs.315 (trend line indicated in red colour). Don't short ITC thinking that it is at high level. A share/index which is at high can reach higher.

Market could be flat to negative in short term and this could continue as long it is below 6100. So cash market traders should focus more on defensive industries like FMCG and pharma for time being.

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day

 

If you don't design your life plan , chances are you'll fall in to someone else's plan. And guess what they have planned for you?? Not much - Jim Rohn

Market updates for 01/02/2013

Nifty daily chart

Today Nifty has closed marginally below the trend line support around 6040. We need to see tomorrow's close for further confirmation. One more close below 6040 will lead to short term correction in market. Reversal will be close above 6100 (spot).

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day

Ultimately the bond of all relationships whether marriage or friendship is conversation. Oscar Wild