Market updates for 15/11/2012

 

Nifty daily chart

 

 

 

Nifty is still in a narrow range and it is not giving any hint about when it is going to break out of this range. Since Nifty has failed to sustain above 5720 the logical target will be 5630.

 

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	56	1250
LT Nov 1600 PE	Sell	28	27	250
Nifty Nov Fut	Long	5792	5673	-5950
Nifty Nov 5800 PE	Buy	73	140	3350

 

 

Thought for the day

 

If trading is very easy then everybody will be doing it.