Nifty Overview For The Week Starting From-2-6-2014

NIFTY CLOSED AT 7229.95   ON 30-5-14

Range for the week ended on 30-5-14 was:-7504 -7118.45

Range for the month of May-14 ended on was:-7563.50—6638.55

SUPPORT:-7296 / 7245 / 7206.70 / 7193 / 7118.45 / 7067.15 / 7020.05 / 6991 / 6869 / 6740 / 6665 / 6650 / 6638.55

RESISTANCE:-  7253/7273 / 7354 / 7450 / 7504/ 7563.50 /  7617 / 7788 / 7988 / 8057

Nifty  moved in the range of 385.55 points during the week and closed the week at 7229.95 which is 111.50  points above the days low of 7118.45 made today itself, this move of today exhibits weakness in the index .Furthermore the technical parameter are showing sign of weakness and the index is making lower top and lower bottom and broken recent closing bottom of  7318  and also running below short term DMA, which indicates that the down correction has possibly set in and may continue for few days and now if it break down the level of 7193 and stays below that then it can drag down the index to these level 7118.45/ 7020/6990 6869/ 6740/6650. If it happens then I expect the index to bounce back from the level of 6900--7000.To regain the momentum now it has to close above the short term DMA which is placed at 7292 for 2-6-14 and recent closing tops of 7329.65 & 7367.10,the chances of  which are looking bleak.                                                                                           

REMARKS:-Long term trend is up, since the nifty is in correction mode so I suggest to avoid long trade in it as of now. Please use support and resistance level as entry and exit points and also as trailing stop loss in favorable trade. Volatility could be there so trade cautiously and DO NOT TRADE WITHOUT STOP LOSS

 NOTE:-

1. PRICE STATED HERE IS OF SPOT MARKET.

2. RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.

3. IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL   PROTECTION. 

 Contact me for strategic guidance to enter and exit the trade

Technical View On Nifty for-30-5-14

NIFTY CLOSED AT  7235.65  ON  29-5-14


Nifty behaved the way I expected today and it broke the short term DMA and negative divergence also came into play and it did close below the recent closing bottom of  7318 and 7252.90 which indicate that the deeper down correction  is triggered but still the level of 7193.55 is very important support and nifty can bounce back from here but once this level is broken then the key support levels are 7108 / 7067 / 7000 / 6869.I feel that the down correction may continue for few trading session and I expect the nifty to bounce back from 7000-7050 level.The short term DMA is placed at 7301 for 30-5-14 so if it goes beyond this tomorrow then it can re-gain momentum again chance of which are looking bleak so aggressive trader can try short call on the rise near7280-90 level with a stop loss of 7310 or sell below 7224 with a stop loss of  7236 for a target of 7175 for intra day target.


REMARKS:-Long term trend is up but since the nifty is in correction mode avoid long trades .


      

      NOTE:-1.PRICE STATED HERE IS OF SPOT MARKET.

                  2.RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.

                   3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL   PROTECTION. 

 Contact me for strategic guidance to enter and exit the trade

Trading Calls For-30-5-2014

Nifty-Technical View For 29-5-14

NIFTY CLOSED AT  7329.65  ON  28-5-14


Nifty moved in a very short range for last two trading session which indicate  a strong move on either side can happen in coming days ,chances are that it may happen today because of the  derivatives settlement .Technically some parameters are showing negative divergence  on daily chart and indicate that it could break 7252 level on the closing basis and if it does then it may trigger deeper down correction but these divergence should not be viewed in isolation because short term DMA are still intact and placed at 7308/7302 and nifty also made a short closing bottom at 7318 on 27.5.14 ,so be alert in long trades if it goes below 7302 and stays then it will be the  first indication of weakness.The negative divergence can only be negated if nifty closes above 7368.DO NOT TRADE WITHOUT STOP LOSS.


REMARKS:-Long term trend is up,volatility is expected because of derivative settlement with a slight downward bias,so trade cautiously.

       

      NOTE:-1.PRICE STATED HERE IS OF SPOT MARKET.

                2.RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.

                3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL   PROTECTION. 

 Contact me for strategic guidance to enter and exit the trade

Trading Calls (5 Buy | 3 Sell)

Overview on Sintex Industries(28-5-14)

SINTEX INDUSTRIES CMP RS.89.05  ON 27-5-14


I recommended the stock for buying on 9.4.14 at a price of 44.35 for a target of Rs.90 in 1-2 years time.The stock achieved the target on 27-5-14( in less than 2 months) hitting a high of 90.05,therefore I feel and suggest that one should book part profit in the stock and keep the balance quantity with a stop loss of below 75 ,because the stock still has the potential to move up and the next possible target points could be 105 / 123.

Trading Calls (5 Buy | 6 Sell) for 28-May-2014

Book Profit In Jaypee Infratech Ltd(27-5-14)

The company's result came out yesterday and it posted an EPS of Rs.2.15 for the year 2013-14 against Rs.5 for the year 2012-13.The financial performance is not up to the mark,therefore I feel that one should book profit in the stock .However technically the stock still looks good.


REMARKS:-Book profit completely ,those who still want to take a chance technically should book profit in at least half the quantity and make sure they don't end up making losses in totality.

 Contact me for strategic guidance to enter and exit the trade