26/02/2010 - Market cues & calls
Nifty expired at 4860 as said yesterday and closed flat ahead of general budget today. Opened +ve and traded flat for the whole day and recovered @ end. Bank nifty and IT index did well, while metal index went down as dollar index hits new high. Economic panel hopes to achieve a high 9% growth in 2011-2012 and asserts that the country is on its way to becoming the world’s fastest growing economy in another four years time. Infra stocks went well yesterday due to good data on infrastructure sector output. LT in particular zoomed. Mostly we will find a key for market move from here. Today it will be more fundamental rather than technical. Traders are advised to stay caution today, let the markets settle somewhere.
Technically Nifty spot closing above 4935 will lead a good rally this time and close below 4780 will lead to bad fall. Nifty spot forms many top @ 4880 and many bottom @ 4840 with 40 point tight range.If nifty moves on higher side today LT will make a stunning a move.For me technically it suggest we going to have a good budget. So hedge your position and trade firm.
26/2/10 >>>>>>> NIFTY FUT BREAKOUT LEVELS 4839 AND 4891
Halonix
buy @ cmp 85
stop loss 78
target 96
5 days
Tvs motor
buy @ cmp 66
stop loss 58
target 72
3,4 days
Happy trading !!!!!!!
Jay
Friday, February 26, 2010
Thursday, February 25, 2010
25/02/2010 - Market cues & calls
Nothing much for expiry day. If we open gap up above 4900 Just take 4900 PE with 4915 as stop and book around 4860 and if we open gap down around 4850 take 4800 Ce with 4840 as stop and book around 4900. Overall it looks Nifty going to expire around 4860 range.
25/2/10 >>>>>>> NIFTY FUT BREAKOUT LEVELS 4844 AND 4886
Regards
Jay
Nothing much for expiry day. If we open gap up above 4900 Just take 4900 PE with 4915 as stop and book around 4860 and if we open gap down around 4850 take 4800 Ce with 4840 as stop and book around 4900. Overall it looks Nifty going to expire around 4860 range.
25/2/10 >>>>>>> NIFTY FUT BREAKOUT LEVELS 4844 AND 4886
Regards
Jay
Wednesday, February 24, 2010
24/02/2010 - Market cues & calls
Market opened weak and recovered smartly and traded flat to positive the whole day. Highs are used to take profits where traders looks caution ahead of budget and expiry.Metal and realty index gave good support for market whole day. Advance decline ratio was in favor of bears with 321 stocks advanced and 960 stocks declined. US and Europe markets closed negative followed by many Asian markets today morning. lets see some technical trigger today.
Yesterday remained full choppy session there is not much difference on technical side.4860 support was saved whole day and 4888 resistance cant be taken out. As said in yesterdays column nifty went near to 4895 mark where longers get trapped on Monday.If Nifty open near 4800 mark with 4790 as strict stop one can try a long for 4848 and 4868. Below 4780 one can boldly short nifty for 4758 and 4737 with 4804 as strict stop. As expiry tomorrow there we may witness some volatile moves from afternoon session. Trade safe with stop loss.
24/2/10 >>>>>>> NIFTY FUT BREAKOUT LEVELS 4843 AND 4903
Happy trading !!!!!!!!!!
Jay
Market opened weak and recovered smartly and traded flat to positive the whole day. Highs are used to take profits where traders looks caution ahead of budget and expiry.Metal and realty index gave good support for market whole day. Advance decline ratio was in favor of bears with 321 stocks advanced and 960 stocks declined. US and Europe markets closed negative followed by many Asian markets today morning. lets see some technical trigger today.
Yesterday remained full choppy session there is not much difference on technical side.4860 support was saved whole day and 4888 resistance cant be taken out. As said in yesterdays column nifty went near to 4895 mark where longers get trapped on Monday.If Nifty open near 4800 mark with 4790 as strict stop one can try a long for 4848 and 4868. Below 4780 one can boldly short nifty for 4758 and 4737 with 4804 as strict stop. As expiry tomorrow there we may witness some volatile moves from afternoon session. Trade safe with stop loss.
24/2/10 >>>>>>> NIFTY FUT BREAKOUT LEVELS 4843 AND 4903
Happy trading !!!!!!!!!!
Jay
Tuesday, February 23, 2010
23/02/2010 - Market cues & calls
Nifty opened gap up on backup of strong global cues and traded flat until afternoon session, then witnessed a huge selloff where index closing near days low. Realty index again laggard for third session with bank index. IT and metal index performed well yesterday. Metal stocks surged on falling dollar index. Europe and US markets closed marginally -ve. Asian markets trading flat to -ve.Lets see some of the technical trigger today.
Nifty candle on EOD charts looks like inverted hammer or shooting star it will get confirmed with today's candle. If its inverted hammer yesterday's low will get support to break all previous resistance. Yesterday selling happened with good volumes. As said yesterday without hedging your position, it looks like catching a falling knife. Not much levels to watch today except 4847 and 4896. Many longers trapped @ 4895 range so if 4847 held today then we will hit 4895 in afternoon session. Once 4905 takes shorts will get covered this time. No longs if 4780 on nifty spot gets broken.Safe traders can wait until budget to enter in cash market.
Nifty fut Break out levels :: 4827 and 4895
Happy trading !!!!!!!
Jay
Nifty opened gap up on backup of strong global cues and traded flat until afternoon session, then witnessed a huge selloff where index closing near days low. Realty index again laggard for third session with bank index. IT and metal index performed well yesterday. Metal stocks surged on falling dollar index. Europe and US markets closed marginally -ve. Asian markets trading flat to -ve.Lets see some of the technical trigger today.
Nifty candle on EOD charts looks like inverted hammer or shooting star it will get confirmed with today's candle. If its inverted hammer yesterday's low will get support to break all previous resistance. Yesterday selling happened with good volumes. As said yesterday without hedging your position, it looks like catching a falling knife. Not much levels to watch today except 4847 and 4896. Many longers trapped @ 4895 range so if 4847 held today then we will hit 4895 in afternoon session. Once 4905 takes shorts will get covered this time. No longs if 4780 on nifty spot gets broken.Safe traders can wait until budget to enter in cash market.
Nifty fut Break out levels :: 4827 and 4895
Happy trading !!!!!!!
Jay
Monday, February 22, 2010
22/02/2010 - Market cues & calls
Market opened a gap down on Friday on weak global cues and witnessed strong short covering @ the end session. Realty's was a worse hit due to some news on Government's new land policy, while bank and IT index gave support. so what are cues for this week? Looks a week of VIX for Indian markets as we have expiry followed by general budget 2010. Market participants expecting a good budget this time.I advice safe traders to stay away this week or hedge your positions properly. US markets closed flat. Europe closed +ve, Asian markets trading firm on +ve territory.so lets see what technical charts says for nifty today.
Nifty did all its downside target mentioned on Friday and cannot able to cross 4894 level. Nifty moving sideways in the band of 4730 to 4930. Looks we will break this band either side in coming days. Nifty getting resisted around 4920 range as said in earlier column. A good break with volumes will make it cross 5000 and 5050 this time. Today looks like we gonna witness the volatile move,Nifty On upper side breaking 4866 will move up to 4885 and 4915 and downside breaking 4823 will move down to 4812 and 4795. 4699 on closing basis looks bulls quit point in coming days. As I said before if markets move in +ve territory SBIN will be a major player until given stop loss takes out play for 2000 and 2100 target in that.
Nifty fut Break out levels :: 4802 and 4890
Happy trading !!!!!!!!!
Jay
Market opened a gap down on Friday on weak global cues and witnessed strong short covering @ the end session. Realty's was a worse hit due to some news on Government's new land policy, while bank and IT index gave support. so what are cues for this week? Looks a week of VIX for Indian markets as we have expiry followed by general budget 2010. Market participants expecting a good budget this time.I advice safe traders to stay away this week or hedge your positions properly. US markets closed flat. Europe closed +ve, Asian markets trading firm on +ve territory.so lets see what technical charts says for nifty today.
Nifty did all its downside target mentioned on Friday and cannot able to cross 4894 level. Nifty moving sideways in the band of 4730 to 4930. Looks we will break this band either side in coming days. Nifty getting resisted around 4920 range as said in earlier column. A good break with volumes will make it cross 5000 and 5050 this time. Today looks like we gonna witness the volatile move,Nifty On upper side breaking 4866 will move up to 4885 and 4915 and downside breaking 4823 will move down to 4812 and 4795. 4699 on closing basis looks bulls quit point in coming days. As I said before if markets move in +ve territory SBIN will be a major player until given stop loss takes out play for 2000 and 2100 target in that.
Nifty fut Break out levels :: 4802 and 4890
Happy trading !!!!!!!!!
Jay
Friday, February 19, 2010
19/02/2010 - Market cues & calls
Market opened flat and traded volatile with most of Asian markets down to negative. As mentioned in yesterday's column it was all over a flattish negative day. Reliance lost its ground on yesterdays trade. While Bank index and realty too lost . AD ratio was in favor bears with 415 stocks advanced and 865 stocks declined on 1280 traded stocks. US and Europe markets closed positive. so lets see market movement on technical terms.
Nifty facing stiff resistance @ 4922 level of Fibonacci which we mentioned yesterday. Nothing changed on charts with yesterdays session.On pattern formation a bullish wolfe wave formed on nifty spot for a target of 4920 - 4930.It looks we will trade flat until afternoon session and a recovery possible in later session. 4894 need to hold for any upmove today where it can move to 4912/4933. Breaking 4868 will lead fall until 4848/4827.Auto ancillary package looks good for short term. Nilkamal/Omax auto/ Jmfinacial looks good for the day.
Nifty fut Break out levels :: 4866 and 4908
Happy trading!!!!!!!!
Jay
Market opened flat and traded volatile with most of Asian markets down to negative. As mentioned in yesterday's column it was all over a flattish negative day. Reliance lost its ground on yesterdays trade. While Bank index and realty too lost . AD ratio was in favor bears with 415 stocks advanced and 865 stocks declined on 1280 traded stocks. US and Europe markets closed positive. so lets see market movement on technical terms.
Nifty facing stiff resistance @ 4922 level of Fibonacci which we mentioned yesterday. Nothing changed on charts with yesterdays session.On pattern formation a bullish wolfe wave formed on nifty spot for a target of 4920 - 4930.It looks we will trade flat until afternoon session and a recovery possible in later session. 4894 need to hold for any upmove today where it can move to 4912/4933. Breaking 4868 will lead fall until 4848/4827.Auto ancillary package looks good for short term. Nilkamal/Omax auto/ Jmfinacial looks good for the day.
Nifty fut Break out levels :: 4866 and 4908
Happy trading!!!!!!!!
Jay
Thursday, February 18, 2010
18/02/2010 - Market cues & calls
Nifty opened positive on strong global cues yesterday. It was an high volatile session in Index. Finance minister said government is concerned about rising inflation and he added measures had been taken but it will take some time to impact.Bank and metal Index went positive where realty and IT index went negative. AD ratio was in favor bulls with 842 stocks advanced and 419 stocks declined on 1261 traded stocks. Europe and US markets closed positive. Asian markets trading flat to negative. lets see some technical trigger for today's market.
After many Luke luster volume session yesterday nifty traded with firm volumes suggest budget participation hanging out. Nifty getting resisted @ 50% Fibonacci level of 4922 and struggled to hold that zone with small intraday correction. MACD on daily charts turned for a buy. 4960 looks an resistance in Nifty spot daily charts. Nifty broken the channel on EOD charts and closed above it. In the below chart blue zone looks strong resitance zone on past few occation which broken with good news before,until we got some good news to trigger out remaining bears market will be subdued. I feel market to trade flat to negative today . Not much levels to watch today on higher side watch 4916/4956 and on lower side watch 4880/4820. yesterdays stock recom went well in particular VIP ind 28%, Raymond Ind 11 % did. Now today Amtek Ind, Jk cement, Videocon looks good.
Nifty fut Break out levels :: 4877 and 4927
Happy trading !!!!!!!!
Jay
Nifty opened positive on strong global cues yesterday. It was an high volatile session in Index. Finance minister said government is concerned about rising inflation and he added measures had been taken but it will take some time to impact.Bank and metal Index went positive where realty and IT index went negative. AD ratio was in favor bulls with 842 stocks advanced and 419 stocks declined on 1261 traded stocks. Europe and US markets closed positive. Asian markets trading flat to negative. lets see some technical trigger for today's market.
After many Luke luster volume session yesterday nifty traded with firm volumes suggest budget participation hanging out. Nifty getting resisted @ 50% Fibonacci level of 4922 and struggled to hold that zone with small intraday correction. MACD on daily charts turned for a buy. 4960 looks an resistance in Nifty spot daily charts. Nifty broken the channel on EOD charts and closed above it. In the below chart blue zone looks strong resitance zone on past few occation which broken with good news before,until we got some good news to trigger out remaining bears market will be subdued. I feel market to trade flat to negative today . Not much levels to watch today on higher side watch 4916/4956 and on lower side watch 4880/4820. yesterdays stock recom went well in particular VIP ind 28%, Raymond Ind 11 % did. Now today Amtek Ind, Jk cement, Videocon looks good.
Nifty fut Break out levels :: 4877 and 4927
Happy trading !!!!!!!!
Jay
Wednesday, February 17, 2010
17/02/2010 - Market cues & calls
Nifty stunned everyone by its final hour move with bank nifty leading the party. I always used to say think different and win the markets, as many laud for bears market turned for other side. Bank and IT index lead the markets in all way supported by Europe and US futures which traded on higher note in afternoon session. AD ratio was positive with advance 733 and decline 547 of total 1280 stocks traded. Nifty fut made a low of 4786 zone and hit 4890 as high with a 100 point swing. US and Europe closed positive. Asian markets trading positive.Chinese markets closed for the whole week. so lets see some levels to watch today.
Nifty took a support @ 4786 and hit all upper targets which we mentioned yesterday. Positive divergence on daily charts working well.Nifty closed above the Important Fibonacci level 4830 which have been resisted for last 6 sessions. With a view of Fibonacci it looks 4922 and 5010 will hit. Nifty spot supp pegged @ 4811 breaching that will show 4794/4710 and resistance pegged @ 4886 breaking that will show 4898/4945. Ranbaxy was the top mover with 7.2 % upside where Bharti sinks 4.2 % downside.Bullish gartley pattern in Hindustan unilever played well, moved up 3.22%. SBIN looks hot and likely to cross 2000, 2100 and 2200 in coming days with supp @ 1883. Ahemadnagar forge , VIP ind , Raymond ind looks good in small cap today.
NIFTY FUT BREAKOUT LEVELS 4804 AND 4910
Happy trading!!!!!!!!!!
Jay
Nifty stunned everyone by its final hour move with bank nifty leading the party. I always used to say think different and win the markets, as many laud for bears market turned for other side. Bank and IT index lead the markets in all way supported by Europe and US futures which traded on higher note in afternoon session. AD ratio was positive with advance 733 and decline 547 of total 1280 stocks traded. Nifty fut made a low of 4786 zone and hit 4890 as high with a 100 point swing. US and Europe closed positive. Asian markets trading positive.Chinese markets closed for the whole week. so lets see some levels to watch today.
Nifty took a support @ 4786 and hit all upper targets which we mentioned yesterday. Positive divergence on daily charts working well.Nifty closed above the Important Fibonacci level 4830 which have been resisted for last 6 sessions. With a view of Fibonacci it looks 4922 and 5010 will hit. Nifty spot supp pegged @ 4811 breaching that will show 4794/4710 and resistance pegged @ 4886 breaking that will show 4898/4945. Ranbaxy was the top mover with 7.2 % upside where Bharti sinks 4.2 % downside.Bullish gartley pattern in Hindustan unilever played well, moved up 3.22%. SBIN looks hot and likely to cross 2000, 2100 and 2200 in coming days with supp @ 1883. Ahemadnagar forge , VIP ind , Raymond ind looks good in small cap today.
NIFTY FUT BREAKOUT LEVELS 4804 AND 4910
Happy trading!!!!!!!!!!
Jay
Tuesday, February 16, 2010
16/02/2010 - Market cues & calls
Market opened flat yesterday despite of good IIP numbers. Most of the Asian markets shut down yesterday.Bank index closed Negative where IT index closed marginally up. Bharti was the top loser in Nifty 50 stock where it ended 9% down on concerns of the company’s $10.7 billion offer for Kuwaiti Zain’s African assets could strain its finances and which doesn't looks a good deal for short term. Nifty advance decline was in favor of bear on a total of 1301 stocks in Nifty 435 advanced and 866 declined. Lets see what could be the technical trigger for the day.
Nifty Formed a Flag pattern on Daily charts still its on the same pattern with Breakout level now @ 4786. Nifty keep on resisted @ 61.8 Fibo level 4830 (november low to Jan high) and struggling to close above that for last 4 trading session. Only hope for bulls is +ve Divergence of daily chart. On Option side 4800 PE and CE are most active.Option data suggest there could be a strong 150 point move in index in coming days either side.Today Important levels to watch on upside is 4812 where it move until 4835 and 4859, on downside it is 4786 where it will move until 4758 where strong support for the day pegs in breaching that could witness massive sell off in index until 4687 which is the final hope for positional Big bulls. HCL tech,Polaris,JSW steel with small caps AP paper,camlin,SREI infra looks good for the day.
Nifty Future Breakout levels :: 4768 & 4831
Happy trading !!!!!!!
Jay
Market opened flat yesterday despite of good IIP numbers. Most of the Asian markets shut down yesterday.Bank index closed Negative where IT index closed marginally up. Bharti was the top loser in Nifty 50 stock where it ended 9% down on concerns of the company’s $10.7 billion offer for Kuwaiti Zain’s African assets could strain its finances and which doesn't looks a good deal for short term. Nifty advance decline was in favor of bear on a total of 1301 stocks in Nifty 435 advanced and 866 declined. Lets see what could be the technical trigger for the day.
Nifty Formed a Flag pattern on Daily charts still its on the same pattern with Breakout level now @ 4786. Nifty keep on resisted @ 61.8 Fibo level 4830 (november low to Jan high) and struggling to close above that for last 4 trading session. Only hope for bulls is +ve Divergence of daily chart. On Option side 4800 PE and CE are most active.Option data suggest there could be a strong 150 point move in index in coming days either side.Today Important levels to watch on upside is 4812 where it move until 4835 and 4859, on downside it is 4786 where it will move until 4758 where strong support for the day pegs in breaching that could witness massive sell off in index until 4687 which is the final hope for positional Big bulls. HCL tech,Polaris,JSW steel with small caps AP paper,camlin,SREI infra looks good for the day.
Nifty Future Breakout levels :: 4768 & 4831
Happy trading !!!!!!!
Jay
Monday, February 15, 2010
HUL Bullish butterfly gartley
Hey guys after many months I am posting here, for a change from Nifty I will keep post some pattern trades. Pattern trades are one of the low risk trades where we can mint money easily with low risk money management. here is one of the pattern trade on Hindustan unilever. so lets track it.
Hindustan unilever likely to reverse after good amount of correction. Bullish butterfly gartley
pattern found on HUL charts . 225 as stop loss on closing basis on can try a long in that
which looks a low risk trade.
Reference http://www.harmonictrader.com/price_patternsbfly.htm
Happy trading !!!!!!!
Jay
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