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#12 Nifty Update

NIFTY was weak today and closed at 5833. NIFTY is not able to break the upper level nor the down side level. Tomorrow being expiry it is expected to be around 5774-5850. We have noticed a one major thing that quarter results are not much affecting Index this time around. Daily Stochastics, RSI and MACD has started showing weakens for the Index. Today NIFTY has created a big Bearish belt hold candle with closing below 5 and 10 day EMA which is a bearish sign for short term. On the other side weekly graph has created Spin body with mixed reactions from indicators and monthly graph still showing strength for the market with Doji confirmation. So to conclude, you might see some short term downside but over NIFTY seems bullish. Buy NIFTY on dips for long term.
NIFTY levels for 28th April:
S-5807   R-5855
S-5790   R-5892
S-5756   R-5908
S-5730   R-5737

#11 Nifty Update

NIFTY was a bit volatile like KKR’s form in IPL this year i.e., opening was bad start but then recovered gradually to end almost flat. Market mover was SBIN with almost 40 rupees down but at end it was few bugs in green. There were no major negative vibes in CNBC news wire today but it was a expected correction before this expiry.  NIFTY today tested our both extreme levels 5776 and 5937 but couldn’t break through anyone. NIFTY daily indicators are yet mixed bag with few indicating bull run while few are on the bearish side. NIFTY cash has created a Dragon Fly doji on daily chart indicating a strength for bull run. On intra day basis NIFTY had pierced the level of 5 and 10 DEMA but again it bounced back and closed way above both the levels. Even on Weekly and Monthly chart we are seeing a Spin Body which also indicates that the market could move on either side. Tomorrow look out for the results of Abott India, Wipro, Patni and Exide to name few. NIFTY yet to decide the direction of its run.
NIFTY levels for 27th April:
S-5856      R-5923
S-5835      R-5940
S-5804      R-5986
S-5785      R-6010

#1 Stock Update: AUROPHARMA

Risky Investors buy AUROPHARMA at CMP of 197 with a SL of 191 for short term. It will give a symmetric triangle breakout on either side…Volumes are low at present indicating a major charasteristic of symmetric formation. RSI is flat at 40 and MACD is also flat at 0 line…so volume breakout on either side will decide the trend…bt fundamentally pharma sector will be it is expected to breakout on uper side

#10 Nifty Update

NIFTY today was as boring as the movie Dum maro Dum… “Market mein Kucch Dum nahi tha”… It Closed at 5874 with not much momentum on either side. Intraday players of Index option might have faced difficulty in making Intra-Profit. Nifty is still testing the level of 5937 on the upper side.  Today we had the result of Maruti, Sterlite ad Sesa Goa to name few but none had its effect on the market. Daily technical indicators are mixed bags with some showing bearish sign while some bullish but on strong note Weekly and Monthly Indicators are still strong for Bull Run. 50 DEMA has just touched 100 DEMA from below and if it crosses it then you may confirm the bull Run. SBIN and INFOSYS looks good for a weekly purchase. Few of the results to look out tomorrow are ACC, Aventis Pharma, Patni and Wipro. Market seems to be in the Range of 5750-5937 till this expiry.
NIFTY levels for 26th April:
S-5847       R-5907
S-5829       R-5937
S-5800       R-5985
S-5776       R-6015

#9 Nifty Update

NIFTY had third consecutive bull run.  NIFTY tested  the level of 5900 and up but cldnt stay up for much of its time. Today we had 2 important results TCS and RIL. TCS results were given during the market but it was mixed bag so investors didn’t react much actively causing TCS almost down by Rs.50 from its life time high made during the day. Today it was a  silent day for NIFTY as we didn’t have that much volatility during the day. It opened positive on the basis of SGX nifty and other markets bull run last night. But in spite of its 3rd bull run yet it has to cross 5937 level to confirm the bull run. RIL result was announced late this eve around 6pm. It was also a mixed bag so we might see some downfall in RIL and NIFTY on Monday. All the Daily Indiacators are now showing some path for the Bull run.
NIFTY levels for 25th april are:
S-5857                  R-5908
S-5833                  R-5937
S-5792                  R-5982
S-5735                  R-6015

#8 Nifty Update

NIFTY boomed today with another century in recent times. NIFTY was expected to be down but was positive today because of US and other Asian markets were positive last night. NIFTY for first few hours hovered around the 5783 level which was our first resistance level. Around 11pm it showed some negative side on the news of 2G scam which stated that Court didn’t permit bail to DB Reality, Unitech and RCom Executives. But that news didnt sustain for much time and NIFTY remain positive and boomed after then with unbeaten Century. NIFTY daily stochastic and MACD are still showing some bearish trend for the index. Tomorrow we might see some profit booking and on Friday market are closed on account of Good Friday. NIFTY crucial level is yet 5937.
NIFTY levels for 21st April
S-5823         R-5886
S-5790         R-5937
S-5742         R-5985
S-5700         R-6015

#7 Nifty Update

NIFTY closed at 5740 almost flat with 11 points positive. NIFTY was quite a bit volatile today with its high of 82 points from the low. Infosys the hot topic in the stock market was also down below its 200 DEMA. Market right now is trending in stock specific situation rather then NIFTY as a Index. HDFC came out with some good result yesterday but it seemed that traders had already discounted the news yesterday. Today Vedanata bought stake in Cairn India upto 11% through block deal with Sesa Goa its catalyst. It was in news that Samsung may buy Pipava at Rs.110/share with deal completed within a week. So Pipava is the stock to look out this week. Overall NIFTY seems to be weak on daily graph and Weekly graph  also has shown some weakness. Strategy for tomorrow will be Sell NIFTY on rise with a SL-5793.

NIFTY levels for 20th April
S-5700     R-5783
S-5678     R-5824
S-5615     R-5870
S-5561     R-5923

#6 Nifty Update

NIFTY banged today with the two main Headlines: 1) INFOSYS result were below expectation 2) Inflation increase on MoM for the March 2011. NIFTY closed in red at 5824 which was my 2cd support for the day. As expected we show some profit booking in early trades so it opened negative but as soon as the INFOSYS result was out and it came below expectation market was dragged down to my support of 5858 and hovered around tht same level for quiet a time. At 11:30 Inflation data was out and it supported the down rally and dragged NIFTY to levels 0f 5800 but bounced back to 5824 on closure. NIFTY daily oscillators are showing a down trend specially RSI has confirmed but if we see one more day of downside then MACD will also confirm. Where as on weekly chart Stochastic and MACD are still supporting bull trend but RSI isn’t. Now all the results are going to be out and it seems market will be dragged down more as Q4 had high raw material cost almost in all sectors which will bring down the profits of all companies below street expectations. So still I recommend not to take long positions. Crucial level for bull trend as m saying since a week is 5937
NIFTY levels for 18th April:
S-5775       R-5852
S-5745       R-5908
S-5700       R-5937
S-5677        R-6015