Market update for 21/06/2012

Nifty Hourly Chart

                                                    (Click on the image to enlarge)

Another choppy trading session. Nifty is in the range between 5047 to 5143 from past 7 trading session. As expected Nifty has reached the upper part of the range . Now either it has to reach 5200 or it should come back to 5047.

In tomorrows trading session if Nifty sustains below 5090 then we can expect the levels of 5047 and if sustains above 5143 for more than a hour then the target will be 5200.

It Nifty breaks 5047 next target will be 5017-5000.

 

Chart of the day

 

Havells Ltd

Havells is in long term bullish phase. It is one of those few companies which haven't participated in the bearish phase of the market. In the previous trading session this company tested the trend line at Rs.530 and managed to bounce back.Today it has gained by 1.5% which confirms that Rs.530 is a strong support. Now Havells is expected to reach a target of Rs.560-570 and reversal will be closing below Rs.530.

Open Positions

Scrip	Type	Qty	Price	CMP	P/L
Havells	Long	150	545	246.7	255
SBIN 2100 PE	Long	125	69	37.85	-3893
SBIN 2000 PE	Short	125	26	10.5	1937
Hero Motoco	Long	35	2050	2035	-525
Tata Mot	Long	100	245.5	245.95	45
Nifty 5100 PE	Long	50	45	44	-50

Today's Trade

Scrip	Qty	Buy Price	Sell Price	P/L
Bata	100	810	822	1200
Tata Mot	330	242.5	246.5	1320
Hero Motoco	35	2050
Tata Mot	100	245.5
Infy fut	125	2472	2471	125
Infy 2500 CE	125	28	26	-250

 

Nifty Medium Term View

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

Thought for the day

"Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down."- Warren Buffett