Market updates for 30/10/2012

 

Bank Nifty daily chart

 

 

Bank Nifty was facing resistance at 11520 . It  made a breakout and reached a peak of 11650. But this breakout was not sustained and it has again closed below 11520. Now the possibility of reaching 11300 is high. MACD is indicating down trend and RSI shows that there is a room for correction. Tomorrow RBI is announcing monetary policy so traders should watch out for Bank Nifty.

 

Chart of the day 

 

Rel Capital

 

 

Rel Capital was consolidating between the range 460-435 and before 2 days it has broken this range. We have initiated short at Rs.419. Expected 1st target is around Rs.400.

 

Nifty medium term trend

 

Trend	UP
Initiation Date	08-07-12
Initiated at	5336
High since change	5815
Reversal if closes below	5580

 

 

Open Positions

 

Scrip	Type	Price	CMP	P/L
Nifty Nov Fut	Short	5705	5706	-1
Nifty 5700 Nov CE	Long	117	94	-23
SBI Nov Fut	Short	2219	2182	37
SBI Nov 2200 CE	Long	91	72	-19

 

 

Thought for the day

 

Security is mostly a superstition. It doesn't exist in nature, nor do the children of men as a whole experience it. Avoiding danger is no safer in the long run that outright exposure. Life is either daring adventure or nothing. - Helen Keller