4/03/2010 - Market cues & calls

Nifty opened flat on weak global cues and traded flat with -ve bias. Buying witnessed at lower levels made market to recover around closing. Market breadth remains positive. It stalled yesterday after 3 day consecutive bull run. Banking/realty stock witnessed buying at lower level suggest demand for these stocks will increase in coming days. Advance decline was in favor of Bulls.Lets see some of technical triggers today.

Nifty still have a pending target of 5111 hope we will get it today. Many blogs and websites shouting to short, why they say that I didn't know . when trend is clear to hit 5300 its better to go long at dips rather short @ high. Nifty has big resistance @ 5156 level where I feel profit booking for this move can start.5011 is the support and good area to enter long again.Nifty formed a hammer on EOD chart which looks good sign for continuation of this bull run.Nifty closed above 61.8% retracement for 2nd day suggest likely to hit 5310 in coming days.Banks will be the boss in todays trading with the big boy RELIANCE.Hope SBIN will hit our target 2100 today.





Astec lifescience

buy @ cmp 52.5
stop loss 49
target 61 - 66
10 days

Happy trading !!!!!!!

Jay

4/03/2010 - Market cues & calls

Nifty making good run from budget day as we discussed before and closed above 5080. Bank nifty was hot spot in yesterdays trade with realty pack.Reliance and SBIN made it for bulls yesterday.Most of the world markets are trading sideways with +ve bias. Sensex closed above 17000 mark after Jan 2010.lets see some technical triggers today.

Nifty done our positional target 4977 and 5050. Now 5011 on closing basis is the trail stoploss for positional long. Break out in Nifty happened for new high i.e 5300 mark. Bears will argue volumes are thin in this rise. But we saw many previous occasions like that where thin volumes had a big rally. Indicators are overbought until it breaks the overbought territory bulls will play extreme. We can expect big swings in market from here on. Buying @ current level is not advisable, just wait for a good retrace to enter long or with 5011 as strict stop one can try a long @ current levels.SBIN done our first target 2000 can book partially here and keep rest for 2100. Tvs motor done its target from 66 to 72. Long term traders can eye for EKC which has good demand @ current levels (119).

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4/3/10 >>>>>>> NIFTY FUT BREAKOUT LEVELS 5041 AND 5106

Indiabulls

buy @ cmp 114.9
stop loss 95
target 145
10 days

Northgate

buy @ cmp 18.9
stop loss 18
target 22 - 25
5 days

Note :: SUN OUTAGE from March 05, 2010 to March 18, 2010 between 11:00 hrs to 11:35 hours


Happy trading !!!!!!!!!!

Jay

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