About Me

Chennai, Tamil nadu, India

Monday 30 June 2008

30-06-2008 Views

Hi, Another week passed and new week started. The day after the June contract closing Nifty closed 136 points below the closing day figures. Last week we saw the resistance at 3200 level and then it met resistance near 4200(4217) and market tanked. The Nifty has closed near 4150 (4136) which is a support beyond which supports are 4100,4000. Below which if Bulls fail to take the market up Nifty will come down to 3500-3550 level.Before touching 3500 levels due to the bottom fishers who try to buy the stocks at lower level for long term investments will take the market up.Similarly some short covering may also make Nifty to move up. In this voltality people who short at lower levels will be hurt very badly. The author is of the view that traders should see that their positions should be properly hedged and no order should be with out proper stop loss. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Friday 27 June 2008

27-06-2008 Views

Hi, Nifty has closed above 4300 whis is a good sign for short term uptrend.This uptrend may go up to 4400 if 4300 level is protected by bulls and take a down ride .But before taking upward journey, profit booking will take Nifty to 4100,4000 levels. Lot of buying may emerge at these lower levels. I would buy 4400c and 4300 put and book profit when the investment is in the money. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Thursday 26 June 2008

26-06-2008 Views

Hi, Today is the expiry day for June contracts. Since on 25-06-2008 NIFTY closed above 4250 we can see little uptrend . World indices are in green and Nfty may also follow . But we should not forget that down side target 4000 is still possible. Further down sidelevels will be 3500,3200,3000. Be alert. Follow the trend and make money. Be always ready to reverse your trade according to the trend. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Wednesday 25 June 2008

25-06-2008 Views

Hi, People who were sitting on side line are having a feeling that "oomph excaped" GOD's grace. Nifty showed some signs of technical bounce and due to the RBI action NIFTY couldnot sustain at higher level and came down tumbling. Nifty opened above 4260 and twice tried to cross above 4300. Failed and more shorts were increased and nifty closed at 4190. Nifty if sustains above4200 level some upperside can be seen upto 4300 level. If not it will see 4100 and 4000 levels. Some buying may emerge at 4000 level and below. Caution is required, better not traded today and tomorrow. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Sunday 22 June 2008

23-06-2008 Views

Hi, This week is the expiry week for June contracts. Last week Nifty started off with positive note.But last two days it turned negative and finished very low. This week it will be very volatile and market will swing in bothways.Nifty may find 4300 level and below 4170. It may reverse upward from this level. You may call it technical bounce or dead cat bounce.But every rise is potential point to reverse down.Ultimate down side may be 3500 level. Readers who are on profits can set up long straddle with buying 4300call and 4300 put of JULY contract. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Friday 20 June 2008

20-06-2008 Views

Hi, Nifty yesterday took support at 4490 level and moved up. For more than three hours it stayed near 4490 to 5000 levels frustrating the day traders.Finaly Nifty closed at5004.25. Today if Nifty break 5000 levels upwards it will go near 5570 region and take rest. Bears will attack at this place and if they win Nifty will be dragged down to 4450 levels. If bulls manage to creat a swing upwards Nifty may reach 4700 level. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Thursday 19 June 2008

19-06-2008 Views

Hi, Nifty on 18-06-2008 went to 4680 above which Nifty should have closed to follow the upward journey. The close yesterday ,4570.75 is above 4550 which is a good support. The political scene in India is in turmoil due to the Nuclear deal which the left party is opposing. The vital meeting has been postporned and these developments keep the market at tender hooks. The world markets are down and we also will face the effect though all technical analysis gyan points uptrend. If the market trades below 4536 there will be more down side and more new lows. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Wednesday 18 June 2008

18-06-2008 Views

Hi, On 17-06-2008 we had written that above 4550 Nifty has to close above 4682. Nifty made an attempt to surpass that level and finaly closed at 4662.My yesterday's views are not changed . Nifty has to take out 4682and 4690 levels with high volumes to reach higher levels. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Monday 16 June 2008

17-06-2008 Views

Hi, Nifty has moved up above 4550 and met resistance at 4600 level and closed at 4572on 16-6-2008.Now nifty has to close above 4682 and sustain at that level . Then only the NIFTY will move to 4700 levels. AT 4700 there will be lot of selling pressure. If NIFTY manages to close above 4700 on Friday heavy short covering will take place and nifty can see higher level 4900,5000 during this month's contract expiry week. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

16-6-2008 Views

Hi, Last week Nifty lost 110 points. But it gave a hope of closing above 4540 level above which NIFTY would travel high to reach 4700 level. In one year weekly chart it has formed a hammer ,that too a black one showing mildly bullish sentiment which definitely need confirmation. The NIFTY should not close below 4500 and if NIFTY closes above 4550 then NIFTY may touch 4700,4780 levels. NIFTY is very likely to reach 5000 if it withhold the selling pressure at 4700 levels. Readers will be better off by playing the market intraday since market is going to be very volatile. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Thursday 12 June 2008

12-6-2008 Views

Hi, Nifty has closed above 4500 at 4535 . Today if NIFTY sustains above 4547,4557 there will upward movement otherwise NIFTY will come down to 4350. It touched 4541 as high point and reacted to make a low below the opening ,4468.05(O;4469.65). Today on 12-6-2008 NIFTY should not go below this point.In the event of Nifty travelling down this point again 4350 range will come to support and take Nifty above 4500. Now Nifty will have to show strenth above 4540 . While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Wednesday 11 June 2008

11-6-2008 Views

Hi, Like it was discussed on 10-6-2008 NIFTY came down below 4500 and made a low of4370.NIFTY then moved to 4449 and closed at that point. It was sugested that if NIFTY goes below 4350 level there will be more down side .Still that situation has not passed. Nifty may touch 4200 or below at 4150.Depending upon any market positive news the NIFTY may bounce from 4150 level which was formed during July2007. The present upward movement will sustain only if NIFTY close convincingly above 4500. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Tuesday 10 June 2008

10-06-2008 Views

Hi, On 9-6-2008 Nifty touched Jan08 lows and went below. Lot of buying emerged at that point and managed to close at 4500 which was a very good support point before and now a resitance.ON March 17th it closed at4503 and if Nifty trade below 4500 and unable to close above 4500 convincingly the Nifty will tank more. If Nifty goes down next strong support will be around 4350 that is August first week level.My inner feeling says if the traders buy 4500 call and 4500 put they stand to gain . While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Wednesday 4 June 2008

4-6-2008 Views

Hi, On 3-6-2008 the nifty closed at4720 which is a good support region as per long term chart. Nifty has to cross 4750 levels to reach 4860 which is a strong resistance. Below 4720 nifty can come down to 4630-4650 levels where good support exists and breaking which will drag the nifty to 4450 level which is the start of the mid term bullish trend. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.

Indivdual company of NIFTY50

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INDIVIDUAL COMPANY IN NIFTY JUNIOR

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