Market updates for 05/02/2013

Nifty daily chart

As expected Nifty has continued to fall and now it has closed below psychological level 6000 by closing at Rs.5987. Now it is likely to test 5950.

SBI weekly chart

Scroll down and refer market updates  for 31/01/2013 we have  initiated short in SBI fut at Rs.2446 what is the price now Rs.2363 how much profit ? Rs.10375 per lot. We are still holding short.

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day

 

Never tell a problem to anyone because 20% don't care and 80 % are glad you have them - Lou Holtz

Trading call performance in the month of January

 

FnO Segment

 

 Commodity Segment

Cash Market Segment

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Market updates for 04/02/2013

Titan 

Titan was facing resistance around Rs.280. As you can see in the above mentioned chart it has tested this level thrice. But now it has breached this resistance and so we have initiated long in Titan.

ITC

ITC has breached previous peak at Rs.306.5. Now it is expected to reach trend line resistance around Rs.315 (trend line indicated in red colour). Don't short ITC thinking that it is at high level. A share/index which is at high can reach higher.

Market could be flat to negative in short term and this could continue as long it is below 6100. So cash market traders should focus more on defensive industries like FMCG and pharma for time being.

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day

 

If you don't design your life plan , chances are you'll fall in to someone else's plan. And guess what they have planned for you?? Not much - Jim Rohn

Market updates for 01/02/2013

Nifty daily chart

Today Nifty has closed marginally below the trend line support around 6040. We need to see tomorrow's close for further confirmation. One more close below 6040 will lead to short term correction in market. Reversal will be close above 6100 (spot).

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day

Ultimately the bond of all relationships whether marriage or friendship is conversation. Oscar Wild

Market updates for 31/01/2013

SBI Weekly chart

SBI is consolidating around trend line resistance it has  formed a number of 'doji' , stochastics is over bought which indicates exhaustion of uptrend and  finally trend indicators in daily chart has indicated down trend. Based on above observations we are bearish in SBI from medium  term perspective.

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

 

Thought for the day

 

When we are focusing on fear , worry or hate it is not possible to experience happiness , enthusiasm or love.