Nifty February Futures Series Looks Promising

• February futures series starting today with all new hopes to continue the rally
• Results season ending..later small corrections should hold 5000 levels.Any way downside promising support exists at 4900-4950-4970 level
• Upside hurdle comes at 5200 level.Some major news flow should come in to cross and sustain above this hurdle.
• Above 5200 Nifty will gain strength to touch 5400-5450-5500 levels.There we should see some profit booking and cool off
• At present sustainability at 5200 and buying support at lower levels matter.Accumulate stocks in corrections

Best to your trading

Biocon Stock Futures February 2012 View

• Biocon (270) February Stock futures has strength to move up from current levels
• Buy positions can be taken around 260-265 with  a stop loss of 245
• Once Biocon sustains above 260 for a week time it can reach 320 before february expiry

Biocon Stock View :

• The third quarter results are poor.
• Biocon (265) is consolidating from few weeks around 250-290 levels
• The stock has witnessed a discount in price according to it's results already.This alone can't turn stock in buying mode.
• According to few key technical's stock can hold lower levels and eventually touch 320 initially
• Above 320 stock turns bullish and holding above 320 can take stock to 400 + levels
• Downside buying support emerges at 240 and 190 level.Around these levels long term investment can be considered.But now Buy it for 3-6 months prospective 

Best to your Investment & Trading

Disclaimer : No positions in above stocks

Canara Bank At Key Level

• Yesterday Canara Bank (474) moved with volumes and got resisted at 200 day average
• Looking at it's strength seems to be it will cross 200 day average and sustains above it sooner or later
• Sustaining above 480 levels and a consistent close above for two weeks gives a target of 755 in few months
• Consistent rise for 5 weeks may witness some consolidation here.It's advise to invest in corrections or a sustainable close above mentioned levels

Best to your Investment & Trading

Disclaimer : No positions in above stocks personally 

Rate Cut Fueled Short Covering

• RBI's 50 bps crr cut fueled more short covering on banking stocks.Other than Banking stocks many stocks witnessed profit booking.Now a sustainability around these levels after expiry is a question
• Even 200 day average hurdle needs to be crossed and sustainable above those levels need a big trigger either from US or Europe can add hopes
• If coming budget promises something interesting then we might witness new lifetime highs in few months.Economical tensions are not settled yet.So caution required.Probably Retail FDI may get passed around budget time with the support of UPA
• Nifty January can expire around or above 5100 as of now.It's better to take bets after expiry instead getting caught on wrong side
• Cnx IT holding above 5900 indicates to touch 6100.Along with other indices even it is showing strength.Capital goods still weak
• My positional clients very well benefited in this rally.Cheers to them 

Profit Booking Is The Theme Of The Day

• A big event today but RBI tone is still hawkish on easing rates.CRR cut or no cut will trigger profit booking on bourses
• As mentioned in last post,above 4750 we have seen a cheerful rally and now it's time to consolidate and show strength at lower levels.
• 200 day average was played a tough resistance in previous rallies.Now again we are close to that level 5200.Even 5200 is a big resistance according to previous technical levels
• We have witnessed a big rally on Bank nifty.Starting today it's time to see correction from current level 9520.Support exists at 8900 and Tough resistance at 9850.Utilize corrections to invest for next month
• Cnx it at key level 5900.Sustaining below is weak signal for medium term.Rallies should hold above 6100 to show strength
• Nifty has significant support at 4930-4950-4970 level.A weekly close below these levels will give a weak signal for next month.Significant amount of profit booking can be witnessed between 5100-5150 levels.
• Derivative data suggesting  a expiry around 5100.But today's RBI action can change things in hours.Caution required

Best to your trading

Holding Above 4750 Can Bring A Cheerful Rally

• Nifty (4743) trading in a sideways range 
• Nifty should sustain above 4750 to turn trend positive for short term
• On the downside support exists between 4750-4665.If not then we might witness a correction below the levels
• On sustaining above 4750 can take Nifty to 4810 level.Close above 4810 gives further steam to continue upward momentum.
• Derivative data suggests support at 4500 and resistance at 5000
• IT index (6288) at key level,sustainability above 6300 makes long term trend positive.Infosys results due this week and break above 6300 indicates a bigger rally on Nifty too.Support Exists for IT index at 5900
• Bank nifty (8481) has significant support at 8300 ,below this level triggers correction again.Tough resistance at 9050 and support at 7950 and 7600

Best to your trading

Your wishes come true this year.Happy new year and god bless all