Market updates for 09/11/2012

 

Nifty Daily chart

 

 

Nifty has finally breached the resistance at 5720 and has sustained for 2 consecutive trading sessions. So this breakout can be considered as a sustainable breakout and now the possibility of reaching previous peak 5820 is very high. Is it going to correct from 5820 ? well , it is difficult to say at this point of time. But if it sustains above 5820 then the possibility of reaching 5950 will be high. Short term and medium term trend of Nifty are up at this point of time.

 

Chart of the day

 

Tata Motors

 

 

 

Profit in trading is not luck. It involves lot of lot of effort , belief , patience and persistence. Tata Motors is one such example. We entered Tata Motors after a breakout from descending channel for an expected target of Rs.285 and the target is achieved today. Those who executed bullish synthetic call strategy ended up in a profit of Rs.5000 per lot without much stress and risk.

 

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	38	-3250
LT Nov 1600 PE	Sell	28	19	2250
Nifty Nov Fut	Long	5792	5767	-1250
Nifty Nov 5800 PE	Buy	73	82	450

 

 

Positions Squared off

 

Scrip	Buy Price	Sell Price	P/L
Tata Motors Fut	271	281	10000
Tata Motors 270 PE	9.5	4.5	-5000
Total			5000

 

 

Thought for the day

 

If you don't accept small loss you will end up in mother of all losses.

 

 

 

 

 

 

 

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.