Market Update for 19/06/2012


Nifty Hourly Chart

                                                     (Click on the chart to enlarge)

Today's trading session was a disappointing one. Nifty made a gap up open but was unable to sustain at higher levels. Nifty fell sharply after RBI announced its policy to keep the rates unchanged disappointed the street. Interest rate sensitive sectors like Banks, Automobiles , Real Estate and others were hammered down. Nifty closed at 5064 down by 75 points.

In hourly chart Nifty has tested its previous bottom at 5047. Nifty can go down to 5017-5000 levels if it sustains below 5047. On the other hand if it sustains above 5090 we can expect the levels of 5145.

The short term view of the market will be positive until it is above 5000.

Nifty Daily Chart

In today's session Nifty has taken support at trend line at 5041. If Nifty closes below this level that would be first indication of weakness in the market. Further fall can be expected below 5000.

Open Positions

Scrip	Type	Qty	Price	CMP	P/L
Havells	Long	150	545	534	-1650
Bank Nifty Fut	Short	25	9760	9715	1125
Bank Nifty 9800 CE	Long	25	156	131.9	-602

Today's Trade

Scrip	Qty	Buy Price	Sell Price	P/L
Nifty 5200 CE	50	70	15	-2750
Nifty 5100 PE	50	74	105	1550
Bank Nifty Fut	25		9760
Bank Nifty 9800 CE	25		156

 

Nifty Medium Term View

Date	12/06/2012
Initiated at	5116
Reversal if closes above	4880

 

Thought for the day

A man may beat a stock or a group at a certain time, but no man living can beat the stock market! - Jesse Livermore