Market update for 21/06/2012
Nifty Hourly Chart
(Click on the image to enlarge)
Another choppy trading session. Nifty is in the range between 5047 to 5143 from past 7 trading session. As expected Nifty has reached the upper part of the range . Now either it has to reach 5200 or it should come back to 5047.
In tomorrows trading session if Nifty sustains below 5090 then we can expect the levels of 5047 and if sustains above 5143 for more than a hour then the target will be 5200.
It Nifty breaks 5047 next target will be 5017-5000.
Chart of the day
Havells Ltd
Havells is in long term bullish phase. It is one of those few companies which haven't participated in the bearish phase of the market. In the previous trading session this company tested the trend line at Rs.530 and managed to bounce back.Today it has gained by 1.5% which confirms that Rs.530 is a strong support. Now Havells is expected to reach a target of Rs.560-570 and reversal will be closing below Rs.530.
Open Positions
| Scrip | Type | Qty | Price | CMP | P/L |
| Havells | Long | 150 | 545 | 246.7 | 255 |
| SBIN 2100 PE | Long | 125 | 69 | 37.85 | -3893 |
| SBIN 2000 PE | Short | 125 | 26 | 10.5 | 1937 |
| Hero Motoco | Long | 35 | 2050 | 2035 | -525 |
| Tata Mot | Long | 100 | 245.5 | 245.95 | 45 |
| Nifty 5100 PE | Long | 50 | 45 | 44 | -50 |
Today's Trade
| Scrip | Qty | Buy Price | Sell Price | P/L |
| Bata | 100 | 810 | 822 | 1200 |
| Tata Mot | 330 | 242.5 | 246.5 | 1320 |
| Hero Motoco | 35 | 2050 | ||
| Tata Mot | 100 | 245.5 | ||
| Infy fut | 125 | 2472 | 2471 | 125 |
| Infy 2500 CE | 125 | 28 | 26 | -250 |
Nifty Medium Term View
| Trend | Up |
| Date | 12/06/2012 |
| Initiated at | 5116 |
| Reversal if closes above | 4880 |
Thought for the day
"Whether we’re talking about socks or
stocks, I like buying quality merchandise when it is marked down."- Warren Buffett
