Base Building at 6000,Are We Going To See New High in January 2011

• Looks like the doors are opened to create new high
• This prediction doesn't mean that you should buy in the opening.We will see up's and down's before touching it.
• For new high Nifty should sustain above 6188 level 
• The option data suggesting range between 6000 to 6300 as of now
• From Jan 1st 2011 i am starting question & answer session.For more clickhere.

Welcome new year with a joy which can bright up your lives.Keep smiling.Let other's smile.

Cheers & Best to your trading.

Closing Above 50 Day Average Doesn't Mean That You Should Be Bullish

• But closing above 50 day average is only positive for medium/Long term investors.
• Intra day you trade for 30-40 points and you look for bullishness or bearishness.
• The 30-40 points you can make it despite where bourses trading whether it is 2000 or 50000 Nifty.
• Yetserday Fii's short covering helped market to close at 6060
• Dec 6000 Call seen short covering where it didn't happen in Jan 6000 CE
• Jan 6200 Call seen fresh writing,The support for Jan series exists at 5800 to 6000 and resistance at 6200.
• Today we may see expiry between 6020 to 6075
• Slipping below 6054 is a first signal of weakness.Upside resistance at 6080-90 for the day.
• Take a break and welcome new year with Family & Friends.
• If you have capital in your trading account doesn't mean that you should trade everyday.

Cheers & Best to your trading.

All Set To Take Out 50 Day Average 6015

• Yes Nifty all set to close above 50 day average 6015 in Wednesday's trade.
• Nifty needs to sustain above 6020.45 level to touch 6060/6070/6090 levels.
• Weakness only comes in below 5862.35 that can drag it to 5920 level.
• Unwinding seen in 5900 CE & Long build up in 6000 CE
• Strong PE writing in 6000 PE & 6100 CE seen major writing
• Expiry as i am expecting from few days around 6000 level.That can inch to 6050 level.
• Our Clients sold both 6000 CE/PE at 100 rs few days ago and still holding it for maximum gains.
• Buy the dips if you don't want to go long now
• Fii's are buyers in Index futures from few days except yesterday's 200 cr sell

Cheers & Best to your trading

27th December Market Estimates

Nifty :

• Nifty closed at 6012 where as Nifty futures(Dec) closed at 6041 with 29 points premium vs 16 points premium and added 12 lakh shares in open interest.

Cost of carry at +26.5% vs + 15.5%.The historical volatility of nifty futures at  21.43 vs 22.09.India Vix closed at 17.75 vs 19

• December Nifty futures open interest suggesting expiry between 6000 to 6100.On Friday's trade 6000 PE seen huge addition of open interest with 76 lakh buildup. 

• January 2011 Nifty futures open interest data suggesting range of 5800 to 6300 in January month.On Friday's trade Jan 6000 PE also witnessed addition of open interest.
• Nifty should hold 5980 to touch '6060' & 6090
• For Monday nifty should sustain above 6032 mark to touch 6060.Strength only prevails above 6032.
• If it manages to close above 6090 then we have next resistance at 6140
• If it slips below 5980 watch out 5920&5880 as supports.Closing below 5880 can drag nifty towards 200 day moving average.

Bank nifty :

• Bank Nifty has huge build up of open interest at 12000 level by suggesting December expiry below 12000 mark.
• Bank nifty even didn't showed positive momentum and far away from 20,50 day averages.They are placed at 11660 - 11850
• It might be better to take a call after expiry in Bank nifty as all data suggesting sideways momentum.  
• 11000 is support for Bank nifty

Stocks :

• Catch the firing momentum in Sugar stocks - Go long for 15-20% gains
• Telecom,Tea,Power stocks also showing strength
• On Friday's trade Adag pack showed good strength
• Cement stocks should bounce back.

Cheers & Best to your trading

MERRY CHRISTMAS

Small breakout from 5840 to 5960 range.Will it hold 5960 to touch 6090 ?

• The small breakout target comes at 6080.Where as 6090 resistance just above it.
• If Nifty manages to close above 6090 in next few trading sessions & shows good strength above 6090 it gives a big breakout from 5700 to 6070 range that can give target of 6450 !!(is it possible in current conditions where we see muted action from fund houses)
• Positive signs in Indiabulls stock.It should cross 174 to see much positive action
• Watch out Tulip telecom too as it got multiple hurdle between 174 to 178
• For me Nifty is still in a range where we just saw range expansion.
• Bank nifty even didn't close above long term averages despite yesterdays rise.11800 to 12100 are hurdles.Need to see just a bounce or real strength exists.
• For today - Nifty needs to sustain above 6020 then it can attempt 6040-6060 area.
• If it shows weakness above 6020 then support exists at 5950
• Closing below 5950 is a weak sign.
• Today Nifty should get in to consolidation phase

Cheers & Best to your trading

21st December Market Expectation's

• 5800 to 6000 range continues..
• For 21st watch sustainability above 5940 for nifty
• If it does then 6090 can be attempted
• Below 5940 again it can fall back to 5865 - 5880
• Whoever following regularly might not missed what's happening in market
• IT pack existed as leader from few days & trading at 52 week high's
• Expecting Expiry at 6000 or ++
• Here we can see in 2 ways
• One is 'the consolidation and holding lower levels giving hope to test higher levels or make new high's
• Second is sustainability above important levels bit worrying.As long as it goes above it falling sharply
• Crucial day ahead.Stating again watch 5940.
• The stocks which are trading below 200 day moving average(saying that below 200 day moving average is bear market) - Axis bank,Bhel,Dlf,Idfc,JP Associates,Jindal steel,Ntpc,Powergrid,R Capital,Rcom,Reliance Infra,Reliance Power,Sesagoa,Sail,Sterlite,Suzlon,Tata Power - 17 stocks are trading below 200 dma from Nifty 50 pack.
• Maruti & Siemens showing some kind of positive momentum aroun 200 dma.Consider Buying

Cheers & Best to your trading

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16th December Market Expectation's

• Now the range has drifted 100 points lower from 6100
• The clear range now shows between 5800 to 6000 levels.
• In that we have 5840 to 5960 range that clearly established.
• For 16th if Nifty sustains above 5920 it can touch 5960
• Watch 5840-65 range as supports for tomorrow.
• Strong decline below 5840 is not expected.
• Hindustan Unilever is a intra day buy for target of 305
• Ntpc is a intraday sell for target of 1 to 1.5% lower
• Rolta is a buy for target of 150+ with stop at 140 on closing basis.

Cheers & Best to Your trading

15th December 2010 Market Expectation's

• "5972" is the level we need to watch for the day
• If Nifty sustains above 5972 next we can look for 50 day average 6040 & "6090" as hurdles.
• 5900 & 5865 to 5880 are supports for day.Below these levels "5840"
• As of now December Upside looks capped at 6000 to 6100.Downside at 5800
• 5800 to 6000/6100 the range we need to look till December expiry.
• British telecom exited 5.5% share in Tech Mahindra at 653
• Fii's action is slightly negative from few days whereas Dii's supporting market.
• Fii's are buyers in index futures of 1400 cr till yesterday.This tells they are not betting heavily on Index longs.Watch out.
• Stock to watch out for day is CASTROL.You can consider buying with stoploss of 470 for a targets of 490 +.
• Jindal steel is the one which showed strength during recent fall though it didn't made any rally.Today it broke down and close to 200 day average 677
• Reliance power has strength to touch 160+ levels.Keep an eye.

 Cheers & Best to your trading

Slaughter Session On Dalal Street

• "5785" has taken out decisively.Next support exists at 5735.Tomorrow morning we will see bounce.Upside resistances at 5785 and "5840".I am on my words 'we will see expiry above 5800'.Today's Open interest data too suggesting that.
• Individual stocks seen getting slaughter - Reliance infra,Suzlon,Neyveli,Tata comm down 6-7% from Infra pack.
• Idbi shaved off 5% from banking space.
• Finantech,Moserbaer,Educom,Fsl get slaughtered between 6-7% from IT Pack.
• Phoenix,IB real,Unitech down 5-6% from Realty pack.
• Lic housing finance,JSW Steel,Ifci,Glenmark ,Mrpl,Mcdowell too lost 6-9%
• Interestingly Axis bank,Infosys,Pnb,Wipro,Itc,Bpcl are winners from Nifty 50 Pack
• Institutional Turnover of today is not offering much except Dii's buying.Fii's are sellers on 2nd day.Now these guys are thinking about valuations,Goldman talk's about 30% premium of Indian markets.Who told you we got freedom in 1947.Still we are getting looted.

Cheers & Best to your trading.

What is BEST ? & Who is BEST ?

• We waste our time finding "BEST" and avoid basic idea.For example in trading we will try to find new indicators to work for us.This indicator works best....no..no..that one is good.We miss core ideas and will behind "BEST"
• If one indicator gives good results..after some days we find that one is not performing.You need to look in to yourself whether that one is correct or 'i changed my trading style by getting in to many things & calculations to arrive at particular level'.After using  particular oscillators or indicators we feel bored and will go for new one's which works great on first day.But the core idea is you should not get deviated from disciplined trading and market themes which we can identify by studying market data all over the world.Every indicator gives whipsaw's 
• In trading we assume 'at this particular level we take support'..'at particular level we get resistance'.After all markets won't listen to any body.It moves on market themes which can be learnt by putting hard work everyday.
• Many people has Myth that 'if i invest in markets i will make 10 times..20 times in short period of time.But the truth is working on news based stocks can give profits or damage your entire capital.In this scenario you are neither trading nor investing.Nothing but you are gambling.People end up by loosing capital everyday.Be disciplined in trading.

• The Nifty showed a good positive momentum after closing above 5920-45 level as mentioned in previous posts.
• Today that range offered support.Upside resistances are intact at '6046' and "6090" levels.
• 5785 is December month support for Nifty.
• Watch out Cement stocks as they can fire up.

Cheers & Best to your trading.

TATA MOTORS vs TTM ADR(Tata Motors)

Bourses showing a sideways momentum with positive bias.Will it cross 6090 & Hold 5785 for December 2010

• "6046" is Nifty's resistance.Nifty has potential to test "6090".

Support at "5785" level.December expiry should be above 5800.Above "6090" the next levels to watchout  are between 6140 - 6185 and 6250 .

Below 5800 "5650 to 5735" is where we should see buyers interest.

5550 is the level where we spent time to break on upside.After that we witnessed a sharp rally on bourses that took us to 6338 level on Diwali day.So 5500 levels is also a important support.200 day moving average to reaching 5500.Below 5500 the next important support exists at 5150.

For next week - Technically Nifty formed Lower High and Lower low on daily charts.Breaking 5964 is a warning sign for bulls and watch "6046" on upside.

• Bank Nifty has resistance at 12600,12750 levels.Downside support exists around 11800
• Cnx IT has resistance at 7000
• Cnx Midcap shouls cross 9100 for further gains.
• India Vix has resistances around 20 level.15 to 24 is the range for Vix.
• As suggested Cipla rallied from 330 level to 375 with 13% up move in a week.The charts are looking Highly overbought.Support seen around 325.It's better to book profits.
• Dr Reddy's trading at 52 week high's with highly overbought readings in all oscillaters.Risk reward ratio is not favorable for bulls.
• Idfc has support around 174 levels.Cmp is 184.The stock should see buyers interest.
• Itc is looking positive.
• Maruti November sales report was quite good.Stock is in overbought zone and it can remain overbought where one can see intra day corrections getting bought into.
• Ntpc is a must short term buy.It's quite attractive.
• Powergrid should reach 105 immediately.Cmp is 100
• Sterlite has resistance around 178.Better to book profits there.
• Tata steel holding 570 levels from long time.Upside resistance around 660.
• Amtek auto should see buyers interest.
• Escorts has support at 180.Buying zone.
• Mrf has support at 7400 but overbought.
• Dishman pharma looking strong.Resistance between 190-200.Cmp is 143
• Pfizer trading at attractive levels.One should enter atleast in small quantity.
• Avoid tainted companies like Welcorp.
• Nutel india is must buy for 10 to 20% return.
• Harrison Malayalam can bounce any time.Participate in it.
• Tata Global beverages(Formerly Tata tea) has more upside from current level 114.
• Sugar sector looking positive.You know how long they lost.
• Unitech has support at 58.It can correct towards that level.
• Reliance power holding 150 levels.Watch out.
• Bpcl has strong support at 630 levels.Resistance at 740 levels.Strong close above 740 can take it to 900 levels.
• Reliance has strong resistance at 1040 levels.Watch out the action around those levels.
• Financial techno is a must buy.
• Gtl aat important level.Cmp is 415 with negative bias technically but anything can happen.
• Hotel stocks are technically exhausted except Mahindra holidays.
• Dabur has good potential to go up.It was "Portfolio 2011" pick too.
• Godrej industries looking positive.
• Hsbc Investdirect stuck in a small range of 397 to 390.Watch out for breakout on either side.
• Rcf has support at 90.Should see buyers getting in.
• Ultratech cement has support at 1000.
• Sabero Organics looking technically positive.

Cheers & Best to your Investment and Trading