Category Archives: Nifty

#23 Nifty Update

NIFTY was down today by almost 30 points at 5526. When it opened all the technical indicators were so tempting to make a investor buy NIFTY but it just touched yesterday’s closed and returned back to where it opened. MACD is still strong on NIFTY to buy with a SL-5442. NIFTY is yet to validate inverted head and shoulder with the neckline at 5609. Auto industry will see fall in sales due to hike in fuel prices but TATA Motors seems attractive from the technical side. IT Sector is gaining some momentum as we could see INFOSYS and TCS consolidating at its current level. On the other side global cues are negative which is affecting our market index rather than domestic news.  Still the call on NIFTY is to buy and for the stocks its sector specific and more precisely stock specific.
NIFTY levels for 9th June:-
R-5550  S-5503
R-5570  S-5492
R-5609  S-5442
R-5640  S-5401

#22 Nifty Update

NIFTY opened flat and as expected it took resistance at 5571 (I mentioned in my last report). It was a slow and steady win for NIFTY and Rohit Sharma’s innings yesterday which gave steady win to India over West Indies. Now NIFTY has caught some bullishness to face resistance at 5609 which is a crucial level. 100 DEMA and 200 DEMA are converging around the same 5609 level which is also a ought to be Neckline for inverted “head and shoulder pattern”. Breakout of that level will be crucial to reach the level of 5730-5750 in near term.  RSI and stochastic are approaching overbought level but MACD line is about to cross 0 line towards upside to give strong BUY for NIFTY for long term .INOSYS was one of the large cap which out performed together with RELIANCE. Both stocks are at attractive price for long term together with SBIN which didn’t have much of movement today.
NIFTY levels for 8th June:-
R-5571                  S-5537
R-5609                  S-5502
R-5662                  S-5472
R-5700                  S-5442

#21 Nifty Update

NIFTY back on track. NIFTY opened in red on global cues but recovered at the end. It bounced back from crucial level of 5475. Now we could see uptrend for short term till 5619. If it crosses 5619 level then it will validate inverted head and shoulder and we could see level of 5700 there on. LT and Infosys are best buy at these levels. Baba Ramdev is the focus in the media these days.  Govt. is in dilemma what action to take because it may affect its image.  So still strategy is to buy NIFTY with SL-5442.
NIFTY levels for 7th June:-
R-5571  S-5475
R-5609  S-5442
R-5650  S-5400
R-5700  S-5378

#20 Nifty Update

AS expected NIFTY opened positive and resisted near 5600 level which was also mentioned in my last report. SGX Nifty was almost flat at the opening. NIFTY was in red which was some profit booking. Now it seems that market may test the levels of 5442 to confirm our inverted head and shoulder pattern. ADAG was rocking as Anil Ambani was out of the 2G Scam. All its scripts were up by around 5%. Today we also had an AGM of Reliance Industries, but nothing exceptional was mentioned by Mukesh Ambani. Investors were expecting news regarding the telecom sector company which they acquired last year. On Monday we might see some upward movement initially but on downside we may see levels of 5442 if it isn’t closed above 5613.
Nifty levels for 6th June
R-5567                  S-5507
R-5600                  S-5492
R-5617                  S-5442
R-5629                  S-5400

#19 Nifty Update

NIFTY today opened almost 72 points down to 5521 as expected. People who got PUTS yesterday might have been partying tonight special those who got Put of SUNTV which was almost down by 30%. On the global market’s weakness NIFTY was showing some downtrend. SUNTV owners brother was mentioned in 2G scam which dragged down the stock almost 30% but later on after the market it was discovered that he isn’t involved and him together with Anil Ambani and TATA got a clean chit from CBI. Market is expected to have resistance at 200 DEMA 5615. Still strategy is buying on dips for long term.
NIFTY levels for 3rd June:-
R-5572                  S-5521
R-5612                  S-5492
R-5650                  S-5442
R-5700                  S-5400

#18 Nifty Update

NIFTY opened with positive mark and remained in green today with the close at 5592. Today it was not able to break the neckline for inverted head shoulder and also the 200 DEMA at 5610. We expect some profit booking tomorrow. Good news for Gujarat as Maruti is planning its 7th Factory in Sanand. Gujarat government has also invited companies like Ferrari Spa, Hyundai and Ford India. If Narendra Modi’s dream is successful in getting all the companies in Gujarat then we can be the automobile hub of India. NIFTY tomorrow is with some mixed bias but for the long term investors BUY NIFTY on dips with the SL of 5442.
NIFTY levels for 2cd June:
R-5613                  S-5564
R-5640                  S-5517
R-5698                  S-5491
R-5722                  S-5442

#17 Nifty Update

NIFTY today was like KKR in IPL 4, came out with surprises from right to the bottom level to almost 100 points up but as KKR was not able to make up to the finals so did NIFTY couldn’t reach out 200 DEMA i.e., 5612. NIFTY broke out at 5517 level which indeed made our probable inverted head and shoulder a false sign. Now NIFTY is looking strong towards upside move. GDP data were out today but it didn’t affect the index to larger extent. India’s GDP grows at 8.5% in FY-2011, Q4 growth at 7.8%.Eye catchers in frontline today were JPA, HDFCBANK,ACC, DLF and SBIN with almost 3% up. SBIN still looks strong to buy for longer holding period i.e., around 6 months. Now a major resistance for NIFTY is 5612 and major support at 5442 level.  Now we could figure out another “inverted head and Shoulder” with neckline of 5609. We might see a bounce back upto the level of 5442 once from 5609
NIFTY levels for 1st June:
R-5600                  S-5517
R-5623                  S-5482
R-5650                  S-5442
R-5700                  S-5400

#16 Nifty Update

Today NIFTY showed up the emotions for the Friday released hangover 2 i.e., it was interesting but not to keep peoples attention all the way. It opened with some positive woes and as expected didn’t crossed 5517 and came back to almost a flat level. Now we might see some correction towards 5400 level which will be good level to go long on NIFTY with the target of 5700 in coming 2 months. Some of the frontline stocks are at gud price to go long such as SBIN, BHEL and TCS. Wait for some more dip in  TATA MOTORS to go long. Educomp has came out with good numbers showing a upside upto 530. Therefore we might see some down side tomorrow with the support of 5442 and 5400.
NIFTY levels for 31st May
R- 5500                  S-5442
R-5517                  S-5400
R-5541                  S-5367
R-5575                  S-5328

#15 Nifty Update

M back!!!! Had a long break and was out of touch for NIFTY but now I have been back on track….IPL results have been disappointing me but the Corporate results for last quarters are just outstanding and most are beating up street expectations. TATA Group and ADAG Group of companies has been most out performed in the Stock market which has shown some futuristic bull run for the NIFTY index. We could witness a small “Inverted head Shoulder Pattern” in NIFTY as indicated in the graph. If it got to validate the formation then we could see NIFTY resistance at 5517 and then bounce back to around 5400 from where we could buy it for long term. Long Term traders can start buying NIFTY on dips from very levels.
NIFTY levels for 30th May:
R-5500                  S-5445
R-5517                  S-5400
R-5541                  S-5367
R-5613                  S-5328

#14 Nifty Update

NIFTY today was too volatile on the downside. It closed at 5749 at our first support and made low at 5700 which was my second support. NIFTY is forming a pennant pattern, breakout of which will bring the uptrend. Breakout of formation is expected at 5900 which will decide the bull run. It made a high at 5805 which was also a resistance point. Daily RSI and Stochastic are below 50 indicating a bear run for the index. IF on the down side 5730 level is broken on closing basis then we might see down trend but current formation suggests the uptrend. Today Reliance was the stock which brought up the market from the day’s low. Yet the strategy will be buy NIFTY on dips with the stop loss of 5700.

NIFTY levels for 2cd May:

S-5731                   R-5788
S-5700                   R-5822
S-5674                   R-5900

S-5634                   R-5937