Market updates for 31/10/2012

 

Nifty daily chart

 

 

Finally Nifty has breached support at 5630 and closed at 5592 down by 73 points . Nifty was testing patience of traders from past 15 days and now it has come out of the range. Traders should observe in the above mentioned chart that it has also closed below trend line support (indicated in black colour). So now the minimum target will be 5550-5530-5450.

 

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	5626	79
Nifty 5700 Nov CE	Long	117	56	-61
Rel Capital Fut	Short	419	399.3	20
Rel Capital 420 CE	Long	20	10.7	-9.3

 

 

Positions Squared off

 

Scrip	Buy Price	Sell Price	P/L
SBI Nov Fut	2157	2219	62
SBI Nov 2200 CE	91	59	-32

 

 

Thought for the day

 

When you are content to be simply yourself and don't compare or compete , everybody will respect you.