Author Archives: admin

#165 Nifty Update

 Nifty has closed above a strong resistance level of 5724 today. Our target was 5769 as we expected on 4th September 2013. Technically it has closed a way above 100 EMA and 200 EMA. Now markets are in a   strong bull run. Now we can expect a high volatile sessions upto 17th and 18th Sept when we have bank policies. Our Strategy now is to hold longs initiated on 4th Sept with Trailing SL of 5724 Closing basis

#2 Soyabean Update: closed at 3367

On 7th Sept, i initiated a Short call on Soyabean near to 3512 and 3386 was the first tgt. Today it closed below 100 EMA which as at 3386 and my first tgt has been achieved. Next support could be at 50 EMA at 3288. But chances are that market would take strong support at 3190. As per Elliot wave the worse could be at 3050. 

Strategy: HOLD Shorts initiated around 3500 levels with the SL at Cost Price. Book partial profits at 3288 and Full profit at 3190

#2 Dhaniya Update: closes below strong support

Dhaniya saw 100 points fall today to close at 5730. Yesterday we recommended to short dhaniya with near term support at 5743. Today it has closed below tht support comfortably to confirm short term weakness in near term. Indicators have turned completely bearish. Still have the Sl at 5993 as its a volatile comnodity. Next tgts are intact at 5539 and 5382 in extreme weak sentiments. We may see some upward movement here which could considered as a short opportunity.

#1 Soya Bean Update

SoyaBean Indore Ncdex has seen some straight vertical upside move from 2872-3703. It resisted near to a downward sloping resistance line. Currently it is trading below 100 DMA which is at 3553 i.e., it suggest a weak trend below the said level. Today SoyaBean is trading below short term moving averages adding a weak trend characteristics. We expect it to correct in near term.

Strategy: Short SoyaBeanIDR (Oct) NCDEX with SL of 3705 and tgts 3386/3288/3190/3050 All the levels are closing basis.

#164 Nifty Update: 5606 on Nifty achieved!!!

Nifty has shown some consistent upside move after new RBI governor took off 3 days back. In my post of 4th Sept i did mention to go long on nifty with two near term tgts of 5606 and 5769. Today we have got a closing tgt of 5606. Now gates have opened for 5769 for the short term traders. Nifty is trading comfortably above short term moving averages but a important resistance is on the way at 5724 i.e, 100 and 200 EMA. Indicators are yet so temptingly giving a strong vibe of a strong upward move. Now a long weekend + Monday holiday, so we should expect some volatile move on Tuesday. September 18th is crucial day as RBI as well as FED gonna review monetary policy.

Strategy: I would recommend to HOLD long on Nifty which i recommend at 5449 on 4th September. Keep a Trailing SL at cost price of 5449. Book partial profits at 5724 and wait for a closing above the same level.


Disclaimer: I may have personal position in index and above mentioned stocks. Views and News mentioned above may have Errors and omissions. My views are biased more towards technical analysis. Please read and study the market carefully before investing on my idea. For any suggestion contact me on my email. Some words mentioned in article don’t mean their actual meaning. They are correlated for market. 

#1 Dhaniya Update: Outlook

Dhaniya (Oct) NCDEX closed negatively today at 5830 (-164). Dhaniya had a non stop run from 5182-6116. Today it has closed below short term moving averages and now it has a near term support of 50 day Moving average at 5743. But today we have seen huge volumes with increasing open interest at low prices. So we expect Dhaniya to see some profit booking upto 5539. In extreme panic we have a strong support at  5382 which could be taken as a buying opportunity. So our strategy for Dhaniya in near term is to Short with SL of 5995 CLOSING Basis.

#2 Global Update: Whats NOW on DOW ??

Yesterday DOW took strong support and close above 14833 which i mentioned as a strong technical level. Indicators are still dicey but trendline support has been taken by the Index. Short term moving averages are near by and we expect DOW to be range bound. Few near by resistances are at 15047,15127 and 15227. DOW has to take strong CLOSING support above 14853. I would recommend to watch for the breakout of the range 14853-15227 before taking any new position in DOW. So WAIT and WATCH!!!!

Disclaimer: I may have personal position in index and above mentioned stocks. Views and News mentioned above may have Errors and omissions. My views are biased more towards technical analysis. Please read and study the market carefully before investing on my idea. For any suggestion contact me on my email. Some words mentioned in article don’t mean their actual meaning. They are correlated for market. 

#1 Global Update: DOW would be the next COW

DOW has been in the continuous uptrend since quit some time and it has been overbought zone since long. Technically on Monday it gave a perfect Bearish Engulfing close to sign a start of a near term downtrend. Yesterdays close at 14833 was at the strong support zone. A negative close today opens the gate on the downside upto 13120. 100 DMA on DOW has acted as strong support for last few months and we may see some strong support their in coming weeks at 11618. FED’s upcoming meeting is the most important event to watch for US traders. I would recommend to SHORT DOW if it close negative today with a strict SL of 15572 CLOSING

Disclaimer: I may have personal position in index and above mentioned stocks. Views and News mentioned above may have Errors and omissions. My views are biased more towards technical analysis. Please read and study the market carefully before investing on my idea. For any suggestion contact me on my email. Some words mentioned in article don’t mean their actual meaning. They are correlated for market. 

#163 Nifty Update: "Grand Masti" already released on NSE/BSE

Grand Masti (a Bollywood Movie) is about to release next week but it has been already released on NSE an d BSE..Hahahaha.. Just kidding..But the volatility in last 8 session has been such that “Ki woh Traders ki Masti Kar Rahe Hai”. 75-150 points volatility on Nifty has been common in these mentioned session. But if we analyze it closely technically it has given a sign of reversal for at least short term. 5448-5450 was the importance resistance for today and Nifty has given the strong close exactly at that point. IF Nifty CLOSES positively tomorrow than we can have next resistances near to 5606 and 5769 this expiry. Lets see what can a new RBI governor help to traders with Rupee depreciation. Our strategy For tomorrow and next few sessions would be going LONG with a CLOSING STOP LOSS of 5310


Disclaimer: I may have personal position in index and above mentioned stocks. Views and News mentioned above may have Errors and omissions. My views are biased more towards technical analysis. Please read and study the market carefully before investing on my idea. For any suggestion contact me on my email. Some words mentioned in article don’t mean their actual meaning. They are correlated for market. 

#162 Nifty Update: 'Once upon a time in NIFTY Again'

All Bollywood lovers are waiting for the movie Once upon a time in Mumbai again while market traders are waiting for some short covering after a free fall from 6093. IIP number nor inflation has been cheering for the markets but only thing cheering the rally are the earning reports better than expected. Take from IT sector to Commodity stocks , all have beat street estimates. Stock valuation has been at lowest levels since last 2 years. Banking and Commodities sectors are the most lucrative for long term buying. Technically nifty is in the downside channel which has been confirmed with two lower lows and lower highs. But we may may see some continued short covering from here upto 5950-6000 levels. We have 2 speed breakers 5773 (200EMA) and 5830 (100 EMA). So we may expect a rally which was once upon a time in Nifty.