Market Updates for 12/06/2012
Nifty Hourly Chart
We have started the first day of this week with negative closing. Today Nifty sustained above 5100 for greater part of the trading session. But as soon as the news about S&P warning to downgrade Indian economy Nifty started falling. Pharma and capital goods were major losers in today's session.
Nifty has taken support at 5054. If Nifty trades below today's low of 5040 for more than an hour we may see Nifty falling to 4986-4945 and below. Tomorrow IIP data will be announced, which can decide future direction of the market.
Nifty Daily Chart
In previous trading session Nifty closed above 200 DMA 5063. But today it closed at 5054 below 200 DMA. Considering the trend line support in hourly chart we have carried long position in Nifty.In tomorrow's trading session if Nifty closes below today's close then it is not advisable to carry long position.
Nifty Weekly Chart
In this week IIP,Inflation and advance tax numbers will be announced. Next week that is on 18th RBI monetary policy will be announced. So market expected to be highly volatile.
If Nifty closes above 5100 on weekly basis then we can expect medium term upside in the market. Target will be 5300 and above.
Open Position
| Scrip | Type | Qty | Price | CMP | P/L |
| Hindalco | Long | 300 | 120.5 | 120.4 | -30 |
| Nifty July Fut | Long | 50 | 5137 | 5060 | -3850 |
| Nifty June 5100 PE | Long | 50 | 87 | 128.3 | 2075 |
Today's Trades
| Scrip | Type | Qty | Buy Price | Sell Price | P/L |
| Jubilant Food | Long | 65 | 1206.5 | 1237 | 1982 |
| Nifty July Fut | Long | 50 | 5137 | ||
| Nifty June 5100 PE | Long | 50 | 87 |
Nifty Medium Term View
| Nifty Medium Term Trend | Down |
| Targets | 4780-4680 |
| Reversal if closes above | 5090 |
HNI Column
| Recommended Price | 120.5 |
| Recommended Date | 06/06/2012 |
| Quantity | 2000 |
| Investment | 241000 |
| Recommended Price | 4.5 |
| Quantity (Lot size 2000) | 1 lot |
| Investment | 9000 |
| Total Investment | 250000 |
| Upper Break even | 124.95 |
| Max Loss(Rs per share) | 4.95 |
| Maximum Profit | Unlimited |
| CMP of Hindalco | 120.5 |
| CMP of Put Option | 4.2 |
| Unrealised P/L | -600 |
Thought for the day
Trade with the trend. If you make a mistake WITH the trend, usually time will bail you out. If you make a mistake AGAINST the trend, sometimes time will bury you deeper and deeper until you are in so deep you can never dig yourself out - Chick Goslin
