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#100 Nifty Update

NIFTY CLOSE:
·       NIFTY had opened at crucial level of 4875 and then we saw a low of 4758. People would have been in panic but I had sensed a reversal as there was a negative divergence on the hourly chart. NIFTY closed at 4835 just 32 points down.
IN-HOUSE UPDATES:
·       PIPAVAV-MDL deal at Halt:- After the written complaint by many private shipyard owners such as LT and ABGShipyard , ministry has kept the JV at Halt. This complains were regarding transparency of the bidding process. This JV could lead to Rs.1 lakh crore  order which is the reason ministry is going carefully ahead.
o Technically stock has seen a continues down side from the day this complains had been lodged. Volumes have been decreasing and many Doji’s are witnessed on the chart which clearly suggests indecisiveness between bulls and bears due to this uncertainty of JV. So avoid the stock until clearance of JV. If the JV is in favor of PIPAVAV then surely have this stock in portfolio.
·       Banking sector:
o Technically Speaking banking sector seems to recover soon as have seen high volumes today on the market recovery in the last. I would like to suggest you to go for HDFC Bank, ICICI , SBIN and Axisbank for short term as these will be stocks to lead the market.
·       Reliance KG Basin: Reliance has been in news since its dispute with the ministry regarding the cost at KG-6 basin. Stock has been beaten hardly and it is expected the reliance may be sued for wrongly posting the higher cost. It has not been able to achieve the target of extraction from the basin which it had promised 2 years back. So stock seems to be volatile.
o Technically stock had given the double top breakout at 800 with downside tgt of 840 which has been achieved today. I expect stock to consolidate at current levels between 750-800 until the clearance of its issue of KG-6. So avoid this stocl.
GLOBAL UPDATES:
·      Greece has been the concern and it still remains the concern but we have seen a sharp recovery in many markets as EU said that if not Bailout then they surely will come out with some strategies to save Gree
ce. This statement got markets boomed on Friday and continued today. Most of the Greece banks holding government papers have been downgraded by a notch but still every1 hopes that EU will find a way-out. We should keep our fingers crossed.
·      IMF on 24 sept told that they are ready to help Greece and other Europe countries to fight this crisis. This one statement has given the global market hope of some recovery and we expect DJIA to open positive tonight. Futures of DJIA are trading way above expectations after the biggest weekly erase last week since 2008.
NIFTY TECHNICALS:
·       NIFTY has confirmed the double top breakout but still one more close below 4900 has to be given. Bulls and bears are indecisive since last 2 days and viewing the global market we expect and short term recovery. Technically NIFTY is very dangerous so don’t go short but risk taker may be long on NIFTY for a week with strict SL.
NIFTY levels for 27th September:-            
R-4885                 S-4818
R-4911                  S-4785
R-4965                  S-4760
R-4995                  S-4720

#99 Nifty Update

NIFTY has seen a blood bath since last week. And it seems to have changed its path from a Bullish reversal of Inverted H&S to more bearish “Double top” formation. Double top breakout had been seen and now target comes around 4650 if we see close below 4900 for 2 more days. But foreign markets seem to have seen short covering on the Friday so we might see some profit booking this week. Expiry seems to be too volatile this month. Now we could see that another gap has been created last week around 5150-5050 . So in total we have 2 gaps upside which needs to be fill up any time soon theoretically. NIFTY has been trading below all the moving averages since last week. Now question arises what NIFTY trades positive next week??? Don’t get carried away. Markets are expected to be bearish or range bound between 4900-5200. So breakout of any level by this expiry will decide the trend for next month. If we see global markets they are certainly in negative sentiments. Greece is expected to go bankrupt within next 15 days if they are not given a bailout. On other side EU have asked Greece to reduced budget deficit to get bail out. Greece did increase property tax but effect of that can’t be seen so soon. So Europe markets are expected to extreme levels next month on decision of whether Greece is to be given another bailout package or not. Talking about US, conditions are worsening. Obama has given a tax increase plan but that is only too extent of $400 billion and which too cannot avail benefits in reduction in short term. But I feel until employment doesn’t push up we cannot see any good things in US. Prominent Banks in America are getting downgraded by top rating commission which is also a downside. Bernake added more fear by mentioning that US economy couldn’t recover until mid-2013. But analyst says that Emerging markets such as India and China are ought to recover first as valuation are cheap but for sure first we will get affected against this turmoil. Rupee is depreciated to almost life time high while gold and silver are touching lower circuits. So we could conclude that we may see some downside in stock market in recent future but then we might recover fast than any other developed markets. Our strategy could be buying 10% of long term portfolio on every dips of 5% in your preferred stock. But surely be cautious on Intraday position next week. And yeah I prefer Banks and Steel sector at current valuation. Wish you all a Happy trading ahead!!!!!

#98 Nifty Update: NIFTY passed Away

NIFTY is the only 3rd person in INDIA after Sachin and Sensex to score 200 runs in ONE DAY!!! Today is my shortest message for NIFTY Diagnosis….Just one advise “Pack up your bags and go on vacation”…….No technicals nor Fundamentals will work for our markets…Just wait for Americans and Europe to settle until then sit quietly……Today i wont mention any levels for NIFTY tomorrow because its of no use…But hold your long term investment and add on each dips…..Market will be volatile and be CAUTIOUS …..Market may touch 4400 if 4780 is breached on long term…..


#97 Nifty Update

NIFTY CLOSE:
·       NIFTY had opened at crucial resistance which i mentioned at 5153 and closed almost flat and the session was range bound as expected. Market closed at 5133 down by 7 points.
IN-HOUSE UPDATES:
·       NTPC to Exit:- NTPC to exit IVRCL consortium as they havent performed as requirement. Since last 6 years the company has not even to acquire any coal mine for which the consortium was formed. So avoid the stock.
o Technically IVRCL is making lower highs since its listing so you should exit the stock on rise
·       NMDC won:- I had mentioned about the NMDC takeover of legacy in Australia before 2 days which is been accepted by legacy. This implies that NMDC will get access to coal mine in Australia which will good for company currently as domestically environmental clearance issue is on. So it wont affect the companies production
o Technically NMDC has given a reversal from the downside. Monthly chart has given a bullish engulfing and Weekly chart is also suggesting a bull run ahead. You may buy this stock on each dip for the long term
·       Everonn sold stake to Dubai- Varkey Group: Everonn stock was in news as its MD is in Jail but they declared that they have sold stake to dubai group at a rate of Rs 543/share which is way below CMP. Therefore you should buy this stock for short term with target of 543
o Technically seeing volumes have increased tremendously since last few days. All the indicators are suggesting a buy while monthly chart has formed a dragon fly Doji which is bullish sign..
·      Coal Shortage: Power sector is facing coal shortage in the country due to mining constrain and not efficient transport facility. Coal India is the company to look out with NMDC for this sense. They both are the largest supplier of coal in India so they may get good margins which will improve their profits this quarter so have this stocks in your short term portfolio.
o Technically Coal India has given close above all the moving averages confirming the previous Dragon fly Doji. RSI has given bullish crossover while MACD is moving towards the central line. So you may buy the stock with SL of 370
GLOBAL UPDATES:
·      Today is the deciding day for Crisis. FOMC meet is going to end today and results will be out around 2am IST. Everyone’s eyes is gonna be on Bernake. Be ready for the volatile opening tomorrow.
·      Housing data was out yesterday which came to low near to April in US economy. That was the major reason for the Downside of US markets yesterday. Today it will be a cautious market for US.
NIFTY TECHNICALS:
·       NIFTY has confirmed the Inverted H&S but we havent noticed a breakout yet. Volumes have increase marginally and Indicators are still on the bulls side. While PCR is around 1.06 which states Bulls and bears are equal in  strength. Now today’s FOMC meet output will decide the further trade in NIFTY. Hold my Long call on NIFTY with SL 
NIFTY levels for 22cd September:-
R-5153                 S-5107
R-5188                  S-5072
R-5209                  S-5040
R-5233                  S-4995

#96 Nifty Update

NIFTY View:-
  • NIFTY was  the out-performer today with a sweeping 108 to close at 5140. We had seen a high buying interest in NIFTY and its stocks as NIFTY crossed 5100 mark. Banking stock and Education stocks were leading the race while Auto stocks were lagging behind. Steel sector had seen a marginal move. I feel steel and Banking sector will be the leading hero in next rally. 
IN-HOUSE UPDATES:-
  •  Fortis the Big-B of Pharma Sector:- Fortis healthcare is going to acquire hospitals in singapore and will become one the biggest chain in Asia. Its revenue is likely to touch Rs.4800 crore after acquistion. So you can have this stock in your portfolio.
  • Maruti Stock shrinks: Maruti Suzuki strike is affecting stocks at dealers in South. This is a bad sign for the company and they might lose heavy sales volume during festive season. So better be away from this stock in near future
  • Sun-TVs profits to slide down: Sun TV profits to slide as said by sources as high interest cost to affect the company’s balance sheet. They may post a lower growth thsi quarter so if you are holding it then you must book profits and exit.
  • GTL got approval:- GTL gets approval to re-structure its $1billion debts. there are 16 Banks for the same and they are given 60 days to decide on it. This news might spurt up the stock for short term. So you may buy it for short term investment
  • BGR Energy one order nt enough:- BGR had spurred up by 14% on the bag of 1 order but analyst say that this is not enough for the company’s future. But i am still neutral on the stock and you must be on the bulls for the stock.
  • Reliance may be sued:- Reliance industry may be sued as said by CBI for the in-appropriate production at KG Basin .But this news won’t affect stock price much as it has already been discounted so hold your longs on the stock.
  • Cement season:- Cement demand to spike as post monsoon is the best time for infrastructure development. And rise in cement price will also improve quarterly results for the companies so go for the cement stock for next 2 quarters.
GLOBAL FEEDS:-
  • Obama raise $3trillion tax bill: Yesterday Obama declared $3 Billion plan to raise taxes for higher income people. Common man appreciated it but opposition says this is the political stunt and this is practically not feasibly. But on investor part of view it will bring short term rally and we must be bullish. Dow Jones has strong resistance at 11700.
NIFTY Technicals:-
  • NIFTY has closed above the strong resistance level of 5072 with higher volumes and the inverted H&S is still intact.You can notice in the graph that NIFTY has closed exactly at the neckline and one more close above 5140 with higher volumes may take NIFTY to 5400 once. MACD and RSI are suggesting bulls for short term rally. NIFTY is expected to fill up the gap at 5300. So i suggest to hold your longs on NIFTY
NIFTY levels for 21st September:-
R-5153                 S-5107
R-5188                  S-5072
R-5209                  S-5040
R-5233                  S-4995

#95 Nifty Update

NIFTY CLOSE:
·       Nifty closed down at 5031 down by almost 52 points. Mixed global cues and worry about euro crisis is affecting the down side for the markets
IN-HOUSE UPDATES:
·      Two Wheeler’s margins to Shrink:- People are talking about slow down in automobile sector but 2 wheeler sector has seen a growth in their business but the concern now is that margins are about to shrink as tax holidays and Duty drawback schemes to hit companies margin.
·      Pride for Gujarat:- Fords and Peugeot followed TATA motors to come to gujarat.. But that is not the end of the list. Now Even Two Wheelers manufacturers are planning to have their Plants near sanand. Bajaj, Hero and Maruti to be next immigrants to gujarat. Jai Ho!!!
·       NMDC back in news:- We had just heard about their Australian JV with legacy but now as you know it the only company which is allowed to mine in karnataka. Therefore this monopoly of them will lead to good profit margins this quarter. So better have this stock in pocket.
·       GVKPIL turnaround story:- GVKPIL has lost almost 80% of its market cap since Jan 2008. Investors are worried about its cash deficit but i feel the company is on a turnaround plan. They just overtook Hancock coal mine in Australia. Ofcourse they have to infuse fund but for long term they are gonna have a good revenue from the same. So you must buy this stock at such a cheaper valuation of around Rs.17
·       ECB:-External Commercial Borrowings limit has been raised to $30billion ofr the company and they are allowed to raise in chinese yuan. But will this step make easy funding for the corporates? Seeing such a slow down in IIP will it attract FII to our counrtry?? I Think government should have tightened the limit because this is just raising debt of the companies making it more difficult for the future.
GLOBAL FEEDS
·      Greece is in dilemma:- Greece is on the verge of crisis but the last hope is 109 Billion pounds bailout but that has been temporarily denied by EU unless greece proves that they have taken step to reduce deficit. On the other side, to reduce deficit Greece has to close down many government bodies and increase tax which could lead to people protest and a re-election. So now big question remains can this crisis be saved?? 
·       Higher Tax for wealthier in US: Today Obama is gonna speak on how to reduce deficit and road to reach that destination. It is expected by people that he will increase the Tax slab for the wealthier people. This will help to a great extent for US to save them from crisis.  
·       JLR to launch new engine plant in UK worth of $630million. This will boost employment in UK. Even Britain government has thought to be a helping hand.
NIFTY Technical’s:-
·      Technically NIFTY indicators are flat. NIFTY is trading in a range of 4900-5100. Volumes have been decreasing in the market which is a concern for SEBI and both the national exchanges. Right now there is not much specific strategy for NIFTY but hold your longs with a strict SL.
NIFTY levels for 20th September:-
R-5072                 S-5017
R-5095                  S-4985
R-5127                  S-4965
R-5153                  S-4911

#94 Nifty Update

NIFTY CLOSE:-
Pheewww!!! Finally it closed above strong resistance level of 5072. But be cautious it has exactly closed there so market can go either way!! NIFTY closed 75 points up while NIFTY future last trade was at 5097.

IN-HOUSE UPDATES:-

·            RBI RBI RBI…Thats what on every1’s mind ..Yeah..tomorrow is the big day… but i feel RBI is not going to give any rate hike. Why?? Firstly because we have seen sharp decrease in IIP which is a major concern..>Secondly, RBI was the first bank around the world to start rate hikes so i think we should pause. and Third, SBIN is showing negative divergence on the chart which means its bullish and we show heavy buying today and it formed “morning star pattern” which is bullish. 
·            Just in- Prices of petrol has been increased by around Rs.3…Thank god I am done with my college life…!! Guys it gonna be expensive to have girlfriends..Single is better 😉
·      ATF (Aviation Turbine Fuel) rate has been increased by OMC (Oil Marketing Companies) which led the aviation stock down yesterday. So be cautious on fundamental side as this will squeeze their margins in such a recession period
·         INFY is seeing high buying interest since yesterday because sources have said that they are planning to purchase a US IT firm which its presence in Health care segment so its again a good news for IT sector after TCS JV with Malaysian Prodata company.
·         Retail sector has not yet got its cream on its cake. FDI limit increase in the sector has been postponed to next fiscal year. This is getting lil bit tough for the bill to be passed. And i surely think it will effect 
·         Reasons to smile for the ADAG group fans or investors. Their subsidiary company Rel cap got approval from IRDA for Nippon life stake sale and CBI has giving a little relief to rcom in 2g case.. But i personally doubt can RCOM reach 600 by Jan…No?? Then what will it do of FCCB conversion due in Jan…Guys stay away from the stock. And ADAG is gonna sake 700 executives….Ghossh!!!1 thts huge…but ofcourse it will improve that profit margins alot.
·       One of my favorite sector back in news i.e., Mining sector… NMDC is planning to buy 50% stake in Legacy mine in australia..Now this was third in a row in this month 1)Sail Consortium in Afghanistan 2) Essar Steel in Zimbabwe and this was third…Steel sector will be the most performing after banking. So go for it guys
·       Tata steel is going to invest $800 million in just improvement program in UK for next 5 years..Thats really good …but I hope its worth and people make it cost effective on later stage for the company.
·         Power sector back in news…but dont worry this tym they are not gonna export power but CESC has joined hands with Shanghai electricity company for equipments marketing. Power companies trying to cop up with their lagging…can they do that?? i still doubt so be neutral for the sector
·             Pipavav Magazon deal opposed by LT…YEH india hai dude…No1 gets piece of cake easily. LT has asked government to review the selection of Pipavav..No deal in India can go easily…Dont u think??
·         Cairn-Vedanta finally approved by shareholders…I think they are ready to pay royalty on Rajasthan mine
·         Marico was down on the concern of weak quarter earnings…As usual company MD said on TV that we are fine and blah blah..but tell him dude..we are not blind…even better companies are gonna perform worse…how can u?? If u can we should salute the CEO
GLOBAL FEEDS:-
·      Nothing much to say in global news but just one thing that china has confirmed that they might buy bonds of the crisis affected countries…but damn…where is china getting money from??? I think china is playing a game …they will ask target company to buy their products…One day whole world will be china product..huh huh
·       Greece to remain in Euro zone it wa
s declared yesterday EU is planning to issue common debt   instruments of EU…hope this plan work and Greece is bailed out.
NIFTY TECHNICALS
·         Technically speaking market has closed at strong weekly resistance at 5075..5072 was what i mentioned…Still inverted Head shoulder is valid as Volume characteristics is confirming it. Hold your long if you bought today as i said yesterday..Banking and Real estate sector to be next hero’s if RBI supports us.
NIFTY levels for 16th September:-
R-5095                 S-5030
R-5127                  S-4985
R-5153                  S-4965
R-5127                  S-4911

#92 Nifty Update

NIFTY CLOSE:-
“Dhak-Dhak , Dhak-Dhak”…Nope its not the previous Hero Honda advertisement it was the heart beats of the investor that i could feel during the market hours today.NIFTY opened up on the back of good US markets and then saw a fall of almost 100 points from the days high to end at 4940 almost flat just 5 points down. NIFTY future has also closed at the same point after long time. 

IN-HOUSE UPDATES:-
Stock in news since last two days is TATA MOTORS..basically for 2 reasons one being the stock split from FV 10 to FV 2 and other being CEO Forster resignation on Friday on short notice. He was the key guy on the acquisition of JLR. Company official says that his resignation wont affect the JLR operation in india. NALCO (National Aluminum Company) a state-run company, operating in orrisa, is the third largest produce of aluminum had to reduce production of 6% on daily basis due to power supply cut. This is a shame to Indian government.. Dont you think?? If you just recollect before few days NHPC joined hands with Sri-lankan Ceylon Elec board to supply power…Damn, why dont you first fulfill our domestic needs??..Jaago Grahak Jaago!!! It is going to affect aluminum output up to 20000 tonnes. Stock buzz was of PIPAVAVYARD  who yesterday got selected by Mazagon dock (indian govt. co.) to manufacture Indian Navy vessels. This brought stock up by 15% in just two trading session. Jai Ho Gujarat!! Gujarati’s are rocking stock market ;). MCX on another side got the approval of IPO and they are planning offstake 12.5% of their holding. To boost Infra bonds government has decreased the minimum FII limit to $5billion and lock-in period is decreased to 1 year from 3 years. Industry official said lock-in period was not the problem but the problem was 20% tax that was levied by indian government on such investment. Another such issue was that IRDA (Insurance Regulatory and Development Authority) has planned to stop giving sanction to High NAV gurantee plans because they make market to fall further as they do heavy selling when they get small profits to avoid loss. So guys dont get attracted by Plans which gurantee’s u high NAV rather invest urself. Talking about the telecom sector analyst expect that service providers will earn more as they give high devices compulsory with Data plans. But do remember Apple has been sued by CCI as they choose such bundled distribution channel and nt going through retail channels making it a monopoly. Tomorrow we have GDP and Inflation Data so guys keep a watch on it

GLOBAL FEED:-
German car maker Volkswagen’s JV with Suzuki will come to end. Suzuki was accused of using diesel engines of Fiat and they think Volkswagen is trying to advantage of their size over them. So they have offered $2.2billion for the Volkswagen stake. OPEC (Organization of Petroleum Exporting countries) has downgraded world crude demand for the next fiscal. They say world crisis will affect the crude most and demand is to decline drastically from US which is the largest pool of crude customers. They even said Demand-supply gap is about to get filled up fast as Libya’s Oil production will resume to normal by 18months,faster then expected.Yesterday Blast took place in France nuclear plant 2cd of its kind this year after Japan.  US banks are expected to post 45% less profit then expected by analyst due to crisis. So avoid Banking stock if you trade in US. But yesterday we saw sharp recovery in the US markets as the news ws flooded that China is expected to buy Italian bonds which may save Europe crisis temporarily. 

NIFTY TECHNICALS:-
Today NIFTY in the morning gave a good start to cover the gap which i mentioned yesterday at 4990-5040. Now NIFTY is left with one gap around 5209-5330 which must be filled up sooner or later. MACD is still flat on daily chart without a bearish crossover so be cautious. A remarkable point to notice today was that NIFTY made a low at same point which it made yesterday making 4911 a strong support. NIFTY still has that “inverted head and Shoulder” intact.. More time it takes to built up more significant is the breakout of the pattern. So fingers crossed for the bulls. Strategy is yet to be cautious on NIFTY.


NIFTY levels for 14th September:-
R-4985                 S-4911
R-5017                  S-4882
R-5030                  S-4865
R-5082                  S-4812

#91 Nifty Update

MARKET CLOSE:-
                        9/11 Twin tower crash anniversary was witnessed today. Friday and Monday were the victims for the crash almost 100 points each day. NIFTY closed again at a crucial level of 4946 keeping all the investors in a confused state again.

IN-HOUSE UPDATES :- 
Today market was down on the back of global markets while more slide was given to our market by IIP data. IIP was expected to come around 6.1% on MoM vs 8.8% but  actual was out at just 3.3%. Last time capital good sector was the best performer and this tym too but in the descending order.Capital goods output was at -15% vs 36% last months. This lead to a deep jump in the capital good stocks today. Fundamentally also we should avoid capital goods stock as it has major exposure to foreign market after IT sector. SO avoid stocks like CG, BHEL, LT etc at CMP. This friday we have a review of RBI policy and many Bond analyst expects a rate hike while many other market analyst including me feel that there will be pause in the rate hike because number is saying all. IIP data its at lowest. If further rate hike is given then growth of the country may be hampered. And growth is equally important in line with inflation. So may be RBI will press pause button. But market has already discounted the hike news and so you may see high volatility this week in the stock market. So avoid intraday trading this week. Oil India Limited (OIL) is planning to acquire blocks in africa. This move is on the report that India import 80% of its energy need and will import around 90% by next fiscal. On another hand on friday August car sales figures were out and it declined by 10% by leading market dragged by Maruti on labour issue. They have currently stopped accept bookings for New Shit variant. If you are planning to buy a car then i would advice to wait as you may get discounts on high stocks and less demand which is the current scenario of automobile industry. A government took a major step in commodity sector where they increased the export limit for rice and wheat and we may see boost in overall exports. Our overall exports for august came with an increase of 44% while imports were up by 41% but on net side we had increase in exports. A KPMG survey said that if corruption can be removed from India then we can beat GDP of china in next 2 yrs..Its nice to hear but you know that corrpution free India is not easy to achieve in such short span. 

GLOBAL FEEDS:-
China Inflation has cooled down to some extent which is a slight relief for the markets there. Talking about the US crises now major event will be FOMC meet on 20/21 Sept. Alen Krueger, who is the chief Economist Adviser to Obama said in an interview with bloomberg that industrial output should be increase to encourage Job employement. He says Infrastructure expenses should be increased to increase over employment. Krueger report suggested that if the person has studied one grade more than his colleague then he got 16% increment in salary. Thus Obama should concentrate on improving education sector to increase the quality of employment to avoid off-shore of the IT business.

NIFTY TECHNICALS:-
Technically market has given the close at crucial support of 4945 as i mentioned in my levels on friday. NIFTY is under the formation of downward sloping “inverted Head and Shoulder” pattern which if it gives breakout at neckline will be giving a vigorous reversal then the symmetric Head and Shoulder. MACD is almost flat but hasnt yet given a bearish crossover so market is at still on the edge. If market closed above 4927 for 2 more days then you may see some short covering .Today market opened gap down creating another gap at 4990-5060. So now we have two upward potential gaps which might be filled in near term .Strategy yet will be CAUTIOUS.


NIFTY levels for 13th September:-
R-4990                 S-4927
R-5017                  S-4882
R-5048                  S-4865
R-5082                  S-4800

#89 Nifty Update

“Mein talli mein talli, mein talli ho gayi”….No its not Malika sherawat but it was NIFTY who was singing today and was not able to control itself until 2pm after which it got support from its best friend Reliance and showed one side clear movement. NIFTY closed at 5153 which was my first resistance up by 28 Points. Today CAG report was discussed in parliament and made public. It accused Reliance of inflating high cost and many things (actually i havent read in detail) but the stock regained 4% from the low as i feel this news were already discounted by investors which had led reliance to make 52 week low of 720.For the first tym in this week NIFTY future has close in premium.. But who is buying??? Its the FII who is buying..>As per the Data FII had sold net $2 Billion in August but till tuesday of this week they had bought back $450 Million.. So guys you must buy few % of your long term portfolio. You might be thinking that i am continuously saying buy-buy since markets were 4800 but other papers are saying that they are expecting 4200 so wait for buy… But guys think practically. When the market was 4800 they were saying its difficult to cross 5000 and 4400 gates open and Blah Blah…but you all missed opportunity…I would just rather buy on each level..You will have good average and you won’t feel that u missed the bus. Now You will say that what base i have to say that market won’t crash from here?? But I am Not saying that it WONT bt it Might Not…why i am getting strong feelings for india is because of companies growth in such condition in each sector… 1) FMCG sector:- Unilver saw 10% growth in first quarter in india while overall was just 5.4% while P&G saw 6% growth in india for first quarter while overall was just 1% so for sure FMCG is a increasing sector 2)Telecom Sector:-Call rates are gonna be hiked and all companies are net adding subscribers so that is a good sign 3) Automobile sector:- Passenger vehicle of selected companies have seen downsales and that too of their personal labour problem while other 2wheelers , tata motors and M&M have seen marginally growth 4) Steel sector:- Essar oil is planning to Zimbabwe’s biggest coal mine which official said could serve zimbabwe’s iron ore demand for 1000 years while SAIL and other companies are bidding for Afghan mines.  5) Cement sector:- Cement sales have surged even in such off season so you may see sales doubling in next quarter and JP Associates is in talk with US Companies to expand their global reach so that is also a good move 6) Pharma Sector:- Lupin and Auropharma have got various nod and have strategic ventures with Italian and russian firms respectively to have marketing in india and their country so that is also a strong fundamental point. 7)Power Sector:- NTPC has joined 50:50 JV with Ceylon Elec board of Sri Lanka…so that is also a major event 8)Education Sector:- Educomp had been in IT raid but yet it received orders from Chhattisgarh govt for IT solutions in govt school…While Banking, Infra and Broking business are in some pressure but thats the matter of time.. But you could see in other sector many important event had occurred during such so called recession which says India is still on growth. On commodity side you mat expect gold to touch 26513 as it has made double top around 28200. Europe Bank didnt make any change in interest rate and kept it 0.5% . Now most awaited Obama’s and Bernake speech will be late in eve. Technically NIFTY seems to be strong over 5095. Now near term resistance is at 5188 and 5209. RSI  and MACD all suggesting a formation of Inverted head and Shoulder. And YEAH AM NOT SAYING YOU WONT SEE FURTHER DOWNFALL BUT YOU MAY START BUYING ON SUCH LEVELS TO NOT MISS ANY BUS!!!!
NIFTY levels for 9th September:-
R-5188                  S-5127
R-5209                  S-5111
R-5230                  S-5095
R-5265                  S-5064