Market updates for 07/11/2012

 

Nifty Daily Chart

 

 

Nifty has marginally  closed above 5720. How ever to get more confirmation let us wait one more day and two consecutive close above 5720 can take Nifty up to 5800. MACD will indicate short term uptrend if Nifty makes flat to positive close for one more day.

 

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
LT Nov 1650 PE	Buy	51	26	-6250
LT Nov 1600 PE	Sell	28	11.85	4035
Tata Motors Fut	Long	271	269	-2000
Tata Motors 270 PE	Buy	9.5	10.5	1000

 

 

Thought for the day

 

Leadership is the privilage to better the lives of others. It is not an opportunity to satisfy personal greed.