About Me

Chennai, Tamil nadu, India

Friday 30 January 2009

30-01-2009 Views.

Dear Viewers,

Nifty could not sustain above 2850 and came down after touching 2874. Today Nifty may open near 2800. If 2795 is held as support we can see some upward movement. below 2795 Nifty may go to 2750 and below.
Resistances are 2874,2920,3020,3050,3142
Supports are2795,2774,2750,2730,2715,2656.


Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Thursday 29 January 2009

29-01-2009 Views

Dear Viewers,

Nifty has retraced to 2850 which was broken earlier and came down . 2850 has turned a resistance now.Unless Nifty moves above this point and move up further we will see down side again. Above 2850 nifty may surpass 2900 and reach 3000 levels and above and face resistance at 3140.
Resistances are 2850,2868,2890,2913,2930,2950.
Supports are 2830,2813,2800,2760,2720,2702.


Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Wednesday 28 January 2009

28-01-2009 Views

Dear Viewers,

Nifty went up to 2777 short of our resistance level 2780 and settled at2771. Today Nifty may open at 2750 level and go up and face resistance at 2780. If it goes above 2780 Nifty may go up further.
If Nifty goes below 2753 it will face a down trend,having 2680 as major support.
Resistances are2780,2813,2860,2930,2960,3003
Supports are 2753,2680,2660,2553,2503.


Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Tuesday 27 January 2009

27-01-2009 Views

Dear Viewers,

Nifty closed at 2679, 35 points below the previous day. Now definite pattern has formed by breaking the support level of 2700.
Probable supports are 2680,2662,2657,and 2612. Below 2612 Nifty may touch 2570 levels.
Probable resistances are 2705,2720,2740and 2780. If Nifty goes above 2780 it may surpass 2800.If 2800 is held Nifty may go to 3050 and reach 3140.


Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Friday 23 January 2009

23-01-2009 Views

Dear viewers,

On 21-1-2009 Nifty opened at2715 and touched 2745 and started coming down .It was range bound between 2710 and 2727. Afternoon after failing to go above 2726 at 1.30 pm Nifty came down touching days low of 2682.( Please see my yesterday's post.I had mentioned 2683 as a support and 2720 as a resistance.)

Today's supports and resistances are
Supports: 2700,2694,2680,2656,2550.
Resistances: 2720,2730,2745,2800,2813,2840,2860,2930.
Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Thursday 22 January 2009

Dear Viewers,

Hope you would have booked profit of 2800 put at 2706.Nifty could not go above 2796which was close of previous day.
Nifty opened at 2777.4 and moved up as if it is going to surpass 2800 level. the upward movement was halted at 2787.3 and slid to 2690 and close at 2706 taking support at 2690.

Today, supports are 2683,2670,2653.
Resistances are 2720, 2740,2788,2800,2853.
If Nifty goes above 2850 level it may go to 3000 levels.


Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Wednesday 21 January 2009

21-01-2009 Views

Dear Viewers,

Obama has become 44th president of United States of America. He has inherited worst economy from Bush.What he is going to do to America? What is he going to do to help India? Dow came below the 8000 level on the inauguration day!
My feeling is that the investors may get shares of good companies at prices less than what is now.Day traders will have more chances to make money.

Nifty has closed just below 2800. Resistance will be at 2813,2870and 2930. Support will be at 2700,2690,2650,2612,2560 We can buy 2800 c and 2800 put and it is good to book profit if this straddle is in profit.


Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Thursday 15 January 2009

16-01-2009 Views

Dear viewers,
Nifty taking cue from world indeces opened at2832 and came down to 2701 and closed at2736.70.Whole day it was trading sideways.Nifty may take support at 2700 and go up.If nifty does not go up and break 2700 we can see much more downside and may go to 2600 level. Resistance remain at 3149.

Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Wednesday 14 January 2009

15-1-2009 Views

Dear viewers,
Nifty has not gone above 3150 and this shows that the Nifty is under downward correction.Nifty has to go above 2850 to show some strength.Below present level Nifty has support at 2800 .Below this Nifty may be taken to 2780,2750 ,2700.
Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Monday 12 January 2009

12-1-2009 Views.

Dear viewers, Almost the same view as posted for 9-1-2008 holds good for today also.If Nifty opens near 2800 we can buy 2800 call with stop loss at 2780 levels. Nifty may go to 3100 and get resisted.Viewers can buy a 3100put if Nifty cannot go above 3100. Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Friday 9 January 2009

9-01-2009 Views

Dear viewers, Nifty has broken the support downside and we can see more . Immediate support will be at 2850 and below this it may take support at 2800.Nifty has strong support at 2800 and may recover.

If Nifty goes below 2800 it may get marginal support at2780. Nifty sustains at 2780 and then we can see upward movement otherwise Nifty may revisit 2700,2650 and 2600 levels.

Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Tuesday 6 January 2009

6-01-2009 Views

Dear viewers,

Nifty has overcome the resistance of 3070 and went up .It had minor resistance at 3090 region . Then had a minor resistance near 3100 (3099) and went up to 3131.95 and closed at 3121.45.

S&P CNX NIFTY
Prev CL Open High Low Close Change
3046.75 3058.75 3131.95 3056.45 3121.45

Today Nifty may open down around 3040 and fill small gap of 3047 to yesterday's open.Even if Nifty opens normally or up this region of 3047 to 3060 will prove the support.

Nifty has to stay above 3020 which is two days low,then Nifty will go up and face resistance at 3160 region beyond this Nifty may touch the recent high of 3240. Further up will be only after closing above 3240.

Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss

Monday 5 January 2009

5-01-2009 Views

Dear Viewers, Nifty has just touched the 55ema of 3 months chart and closed at 3047. Nifty has resistance at 3070 level and above which it may face resistance at 3100.Above 3100 Nifty may go to 3200 and 3250.It has to move above 3250 very strongly to reach further. Below 3047 it has the support of 2930,2920. If nifty stays above 2920 only further upside will be seen.Below 2920 we can see Nifty at 2880,2860 and 2800. Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Friday 2 January 2009

02-01-2009 Views

Dear viewers, We have started new year on a positive note. Nifty closed at 3033 which is below 55 ema on 3months daily chart. Nifty has to cross 3060 to be more positive. It will may face very strong resistance at 3100 . Strong support lies at 2920 and below which Nifty will be dragged to 2850 and then to 2800. Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.

Thursday 1 January 2009

Hi, MAY YEAR 2009 BRING ALL GOODTHINGS TO YOU AND FAMILY. MARTHANDAN.

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