Market updates for 03/12/2012

 

Nifty daily chart

 

 

 

Nifty has breached the channel formation on Thursday's trading session. The thickness of the channel is around 150 points. So now the expected target will be 5950. From 5950 Nifty may correct by few points. So swing traders should book partial profit around 5950 nad re enter at lower levels. RSI is not over bought which indicates that Nifty has some more strength to move towards 5950.

 

Nifty weekly chart

 

 

 

Fibonacci levels are drawn from 6300 to 4530. Nifty has sustained above 5642 which is 61.8% retracement. Now the next target is 5950.

 

Chart of the day

 

Bank Nifty weekly chart

 

 

Bank Nifty has breached trend line resistance and now it is expected to move towards 12500.

 

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	5879
Reversal if closes below	5575

 

 

Top Pick for the month of December :

 CANARA BANK

CMP : Rs.464

 

Thought for the day

I am not afride of stroms for I am learning how to sail my ship.

 

 

 

 

Trading performance in the month of November

 

Equity
Recommendation	Buy Price	Sell Price	Quantity	Profit /Loss
LT  Nov PE 1650	51	50	250	-250
LT Nov PE 1600	24	28	250	1000
Tata Motors Nov Fut	271	281	1000	10000
Tata Motors Nov 270 PE	9.5	4.5	1000	-5000
Nifty Nov Fut	5792	5594	50	-9900
Nifty Nov 5800 PE	73	203	50	6500
SBI Nov 2200 PE	134	71	125	-7875
SBI Nov 2150 PE	45	93	250	12000
Nifty Dec 5700 PE	32	152	50	6000
Nifty Dec 5600 PE	102	17.5	100	-8450
Rel Cap Nov Fut	381	375	500	-3000
Rel Cap 280 CE	9.3	11	500	850
IDFC Nov Fut	155	158.5	2000	7000
IDFC Nov 160 CE	2.5	0.8	2000	-3400
Infy Dec Fut	2405	2485	125	10000
Infy Dec 2400 PE	50	20	125	-3750
SBI Dec Fut	2125	2195	125	8750
SBI Dec 2100 PE	52.5	33	125	-2437.5
Nifty Dec Fut	5868
Nifty Dec 5900 PE	101
Total				18037.5

 

 

Commodity
Recommendation	Buy Price	Sell Price	Qty	Profit /Loss
Zinc	100.2	102.5	5000	11500
Lead	111.2	114	5000	14000
Crude Oil	4710	4650	100	-6000
Zinc	104.8	105.7	5000	4500
Copper	425.3	433.2	1000	7900
Nickel	899	927	250	7000
Nickel	949	939	250	-2500
Copper	437	439	1000	2000
Gold Mini		31010
Total				38400

 

 

 

 

 

 

 

 

 

 

 

Market updates for 30/11/2012

 

Nifty daily chart

 

 

Today Nifty has breached critical resistance levels at 5745 and previous peak at 5820. This up trend is not going to stop at 5825. There are greater possibilities that it will continue till 5950. Short term reversal of the trend will be close below 5680.

 

LIC Housing Finance , LT , Hexaware , Gruh Fin, Ambuja Cement are some of the companies which are looking positive.

 

Chart of the day

 

SBI daily chart

 

 

SBI is forming a possible triangle formation. Base of the triangle is at Rs.2060 and a descending trend line can be drawn by joining 2357 and 2268. The extension of this trend line is approximately around 2200. Considering all these factors today we have initiated bullish strategy.

 

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	5825
Reversal if closes below	5575

 

 

Thought for the day

 

Education ....... has produced a vast population able to read but unable to distinguish what is worth reading. 

 

 

 

 

Market updates for 28/11/2012

 

Nifty daily chart

 

 

Nifty has breached resistance at 5720 and closed at 5726. Now it may face resistance around 5750. Since it has closed above 5680 the short term direction has turned bullish. Now the probability of breaching trend line resistance is high. Once it happens Nifty can reach 5800 and above 5800 medium term target could be 5900.

 

Infosys

 

 

 

Last month Infy has made gap down on the day of result. Now it has filled the gap and it may face resistance at 2480 level where 200 DMA is located. We initiated long in Infy Dec fut at Rs.2405 and simultaneously 2400 Dec put option was bought at Rs.50. Today we sold positions at Rs.2485 and 21. Total profit booked is Rs.6375.

 

Nifty medium term trend

 

Trend	DOWN
Initiation Date	16-11-12
Initiated at	5574
Low since change	5549
Reversal if closes below	5800

 

 

Thought for the day

 

Unhappy is he who lives under the influence of greed , pride , luxury and anger. - Guru Granth Sahib

 

 

Happy Nanak Jayanti to all Sikh brothers and sisters

 

 

 

 

 

 

 

 

 

Copper

 

We had initiated copper at Rs. 425.20. It has breached descending trend line and has formed rounding bottom now at cmp Rs.433.20 we have booked profit of Rs.8,000 per lot.

Nickel

 

 

Long in Nickel was initiated at Rs.899 before few days partial profit was booked at Rs.915 and now since it has reached Rs.927 which is its key resistance level we have booked profit and re entry will be done in later stages.

 

Performance of commodity calls in the month of November

 

Recommendation	Buy Price	Sell Price	Qty	Profit /Loss
Zinc	100.2	102.5	5000	11500
Lead	111.2	114	5000	14000
Crude Oil	4710	4650	100	-6000
Zinc	104.8	105.7	5000	4500
Copper	425.3	433.2	1000	7900
Nickel	899	927	250	7000
Total				38900

 

 

6 recommendations , 5 success , 1 failure , Rs.38900 profit and lot of information sharing for a throw away price of Rs.1500 per month. What else you want??

 

Nifty medium term trend

 

Trend	DOWN
Initiation Date	16-11-12
Initiated at	5574
Low since change	5549
Reversal if closes below	5800

 

 

Thought for the day

 

I know where I am going and I know the truth , and I don't have to be what you want me to be. I am free to be what I want. - Muhammed Ali.