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.

 

 

Market updates for 06/11/2012

 

Nifty hourly chart

 

 

 

Consolidation has continued in Nifty. Hourly chart of Nifty clearly shows the trading range which is 5720-5635. RSI is indicating that much upside is not left and Nifty may start sliding once it reaches 5720.Reversal of the trend will be close above 5720.

 

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	24	-6750
LT Nov 1600 PE	Sell	28	10.8	4300
Tata Motors Fut	Long	271	271.4	400
Tata Motors 270 PE	Buy	9.5	9.5	0

 

* Partial profit in Tata Motors booked at Rs.276.50

 

Thought for the day

 

The art of life is not controlling what happens , which is impossible. It's using what happens.

 

 

 

 

 

Market updates for 05/11/2012

Nifty Daily Chart

As expected Nifty has bounced back from the trend line support around 5600 and made a high 5711 (spot level) on Friday.

 Two important inferences can be drawn from Friday close. One is Nifty has formed a candle stick formation called 'doji' which indicates indecision about the trend. So market makers yet to decide whether to take market to 5800 or 5500. Secondly Nifty has made a gap up open and since this gap has happened with in a trading range it is likely to be filled within a day or two. So the possibility of testing 5630-5600 looks high. Reversal of the trend will be closing above 5720.

Nifty weekly chart

Nifty has continued to consolidate for 5 weeks in a row and still there is no signs of breakout. 5720-5750 are the criticle resistance levels and 5630 is the major support. Breakout from this levels can take Nifty to 5800-5500.

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	12	4000
Tata Motors Fut	Long	271	272.5	1500
Tata Motors 270 PE	Buy	9.5	8.7	-800

Thought for the day

 

If you ever need a helping hand you will find at the end of your arm.

Market updates for 02/11/2012

 

Nifty daily chart

 

 

 

Nifty has bounced back from the trend line support and once again it has closed at 5645 which is above the earlier support 5635. Now once again it likely to move towards 5720. Since there are lot of ambiguity about short term direction of market and also since breakout was not sustained traders should not consider positional trades in Nifty for sometime. In fact today we have squared off positions in Nifty and initiated bearish strategy in LT.

 

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	46	-1250
LT Nov 1600 PE	Sell	28	24	1000

 

 

Positions Squared off 

 

Scrip	Buy Price	Sell Price	P/L
Nifty Nov Fut	5705	5675	1500
Nifty 5700 Nov CE	117	65	-2600
Total			-1100

 

Thought for the day 

 

The road to success is always under construction.

 

 

 

 

 

Market updates for 1/11/2012

 

Nifty daily chart

 

 

In today's trading session Nifty has made a small recovery from previous days close at 5597 and closed at 5619 up by 21 points. From now on previous support at 5635 should act as resistance. So a long as Nifty is below this level short positions can be held.

 

In daily chart Nifty has closed marginally above trend line support , we can expect continuation of down trend only if Nifty sustains below this trend line. RSI is indicating that downside is limited so 5500-5550 could be the bottom of this down trend.

 

Nifty monthly chart

 

 

 

Today is the end of October month so here is the analysis of monthly chart of Nifty.

 

In the month of September Nifty made a rally of around 500 points (5215-5735) and closed above the previous peak which is 5633. But this month it has closed at 5619 which is below previous peak. Apparently this look a false breakout and possibility of testing ascending trend line (blue colour arrow mark) seems to be high. Overall direction looks bullish and once Nifty tests trend line support another cycle of uptrend is likely to happen and the potential target could be up to 5950. 

 

Nifty medium term trend

 

Trend	UP
Initiation Date	08-07-12
Initiated at	5336
High since change	5815
Reversal if closes below	5580

 

 

Positions squared off

 

Scrip	Buy Price	Sell Price	P/L
Rel Capital Fut	387	419	32
Rel Capital 420 CE	20	7	-13

 

 

Open Positions

 

Scrip	Type	Price	CMP	P/L
Nifty Nov Fut	Short	5705	5643	62
Nifty 5700 Nov CE	Long	117	57	-60

 

 

Thought for the day

 

No man has ever made a great discovery without the exercise of the imagination.