Intraday Call Tips:
1)Shot:If it crosses Down 3307 mean shot @ 3305 & Buy @ 3225 (80-points)stop loss @ 3315.
2)Buy:If it moves above 3385 mean Buy @ 3390 & sell @ 3445(55-Points)Stop loss @ 3380.
Maintain stop loss at Each 10 Points Positive or Negative of Nifty market to confirm profit every time.
Pivot levels of Nifty spot for Wednesday, 22nd April:
- R3 - 3522.10
- R2 - 3468.40
- R1 - 3416.80
- Pivot - 3363.10
- S1 - 3311.50
- S2 - 3257.80
- S3 - 3206.20
--Nifty April future discount converted to premium of 0.5 points so cost of carry increased..
--Nifty open interest increased by 1.5 lacs suggests long position. (Total OI now at 4.28 cr)
--3300 puts had open interest of 67 lacs and 3500 calls had open interest of 55 lacs, so 3300 and 3500 will be important levels to watch for.
--India VIX closed at 53.64, decreased by 1% suggests stability.
--US markets closed in green.
--Asian markets trading mixed.
--Sgx nifty trading at 3391. (UP 23)
--Positional strategy for nifty— Neutral. (Initiate long if closes above 3449 or Initiate short if closes below 3336)
It is the 5th consecutive trading session that a strong tussle existed between bulls and bears amidst high volatility. Nifty today opened negative and tested intraday low of 3309, then it started recovering and touched day high of 3415, but just like last session it again slided sharply in the last phase of the session to finally close at 3365. Fresh short building seen in Nifty future, ICICI Bank, Reliance Cap and Tata Steel, whereas fresh buying seen in DLF and HDIL.
Nothing much to add after yesterday's post. Only one addition, Nifty finally closed just below the 5 DMA at 3370 and it will now act as an resistance and its a big concern for bulls. Immediate supports for Nifty now comes at 3310/3250/3150 and resistances comes at 3410/3510/3650. Daily RSI-2 is at 29.63 in strong bear grip and 3/10 oscillator is holding the sell signal. Tomorrow may be the trend decider day till expiry and looks like bears till now has an edge over bulls. Closely watch out the support resistance levels for your trading decisions.
End of day charts of all Nifty-50 stocks available at Nifty-50 Daily section and charts of 50 midcap stocks now available at Midcaps Daily section of the blog. Learn how to use this charts at the traders forum at http://www.stockmaniacs.fleeforum.com. Cheers!!
*The RBI hinted at no-more-cuts in their Survey yesterday. If they go ahead and stick to that plan, the markets will obviously show their dissapointment. We should always keep in mind that the markets are an animal that ALWAYS only want things for the best for themselves. The very thought of any bad news is never awaited. But the fact is that risk is risk and notning in life is one-way or linear.
If the RBI dissapoints after 11.15 am, and the Bank Nifty breaks its stop of 4925, go ahead and short it.
Meanwhile, since the SGX is already at -55, add shorts in the Nifty as well.
*Bank of America booked higher losses on bad debts than Wall Street wanted. All financial shares took a bad toss after that. And since The Street follows the health of financials right now, since it's THEM who caused all this loss of sleep since end-2007, the rest of the markets followed financials from thereon.
Our banks will open lower anyway.
But we'd rather that you shorted the Bank Nifty below 4925... over singles.
*The dollar rose strongly to 1.2907 and all other currencies have dropped off to one-month or even two-month lows.
The rupee has opened this morning at 50.40 and so expect some more cash to leave the country, and NONE to come in, till this monthly-bleed ends. Stock markets ought to see their own flavour of a toss today and tomorrow.
*Noise tells us that our markets will come back to the buy side only from the afternoon of Thursday onwards. By then, many big company results in the US and Europe would've been factored in. Ours too.
*Copper fell to its 5% lower limit-down at Shanghai this morning.
Expect Sterlite Inds to drop some more.
A fair call to short for the day.
*Tisco and Sail will also weaken more on the drop in global metal commodity prices yesterday. Our trend for their prices in the F&O Trends table for these two are already on the short side. They'll deepen some more.
However, we need to tell you that such types of profit booking will come and go every month in metals. That's only natural. You should continue holding your longs in them in your Investment a/c, but please do affix your own stops. THIS IS THE CARDINAL RULE despite all the fundamental language about Obama's giant printing machine doing everything to hike metal prices.
US markets ended higher after a weak start.
Europe ended mixed.
Asia has opened marginally negative.
Expect Indian Markets to open flat to negative.
NIFTY Support at 33115 and 3257
Resistance at 3416 and 3468
Nothing much to add after yesterday's post. Only one addition, Nifty finally closed just below the 5 DMA at 3370 and it will now act as an resistance and its a big concern for bulls. Immediate supports for Nifty now comes at 3310/3250/3150 and resistances comes at 3410/3510/3650. Daily RSI-2 is at 29.63 in strong bear grip and 3/10 oscillator is holding the sell signal. Tomorrow may be the trend decider day till expiry and looks like bears till now has an edge over bulls. Closely watch out the support resistance levels for your trading decisions.
End of day charts of all Nifty-50 stocks available at Nifty-50 Daily section and charts of 50 midcap stocks now available at Midcaps Daily section of the blog. Learn how to use this charts at the traders forum at http://www.stockmaniacs.fleeforum.com. Cheers!!
*The RBI hinted at no-more-cuts in their Survey yesterday. If they go ahead and stick to that plan, the markets will obviously show their dissapointment. We should always keep in mind that the markets are an animal that ALWAYS only want things for the best for themselves. The very thought of any bad news is never awaited. But the fact is that risk is risk and notning in life is one-way or linear.
If the RBI dissapoints after 11.15 am, and the Bank Nifty breaks its stop of 4925, go ahead and short it.
Meanwhile, since the SGX is already at -55, add shorts in the Nifty as well.
*Bank of America booked higher losses on bad debts than Wall Street wanted. All financial shares took a bad toss after that. And since The Street follows the health of financials right now, since it's THEM who caused all this loss of sleep since end-2007, the rest of the markets followed financials from thereon.
Our banks will open lower anyway.
But we'd rather that you shorted the Bank Nifty below 4925... over singles.
*The dollar rose strongly to 1.2907 and all other currencies have dropped off to one-month or even two-month lows.
The rupee has opened this morning at 50.40 and so expect some more cash to leave the country, and NONE to come in, till this monthly-bleed ends. Stock markets ought to see their own flavour of a toss today and tomorrow.
*Noise tells us that our markets will come back to the buy side only from the afternoon of Thursday onwards. By then, many big company results in the US and Europe would've been factored in. Ours too.
*Copper fell to its 5% lower limit-down at Shanghai this morning.
Expect Sterlite Inds to drop some more.
A fair call to short for the day.
*Tisco and Sail will also weaken more on the drop in global metal commodity prices yesterday. Our trend for their prices in the F&O Trends table for these two are already on the short side. They'll deepen some more.
However, we need to tell you that such types of profit booking will come and go every month in metals. That's only natural. You should continue holding your longs in them in your Investment a/c, but please do affix your own stops. THIS IS THE CARDINAL RULE despite all the fundamental language about Obama's giant printing machine doing everything to hike metal prices.
US markets ended higher after a weak start.
Europe ended mixed.
Asia has opened marginally negative.
Expect Indian Markets to open flat to negative.
NIFTY Support at 33115 and 3257
Resistance at 3416 and 3468
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