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Market Participants
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DATE – 25th MARCH 2009
World Market
SGX NIFTY 2935.3 +19.5
DOW -1.5%
NASDAQ -2.6%
NIKKEI +0.1%
STRAITS -0.5%
HSENG -0.4%
SHANGHAI +0.3%
DOWfut +0.5%
NASDAQfut +0.4%
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Market Out Look
Market performs high volatility and looking under pressure due to short covering and selling at upside..
Option Strategy :
As expiry near POSITION WILL BE SHIFTED IN NIFTY 3000 CALL PROFIT BOOKING COMES . Nifty 3000 and 3100 April option are very active and accumulation of long position indicate strong resistance whereas buy in put option in April series 2800-2700 looks strong support .
IN STOCK FUTURE : TATA STEEL, SBI , ICICI ,RELIANCE ,INFOSYS ALL HAVE STRONG VOLUME GOES DOWN AFTER HIGH LEVELS. I ICICI Bank and HDFC Bank were the start performer in open interest, on the other hand SAIL, AND DLF shed substantial open interest looks selling pressure.
Today's Techncial Outlook
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INDEX OUT LOOK
NSE : TODAY POSSIBLE NIFTY OPENS FLAT AND MOVES BOTH SIDE ABOVE 2960 SOME POSITIVENESS COME.
BSE : YESTERDAY MARKET TOUCH THE STRONG RESISTANCE OF 9700 AND TURNS . TODAY MARKET IS RANGE BOUND AT 9400-9600
JUST CHECK:
Just remember yesterday we mention in our news letter that 1480 is the most powerful resistance of Reliance just check its yesterday's high
Just remember yesterday we told you that ICICI will touch360-380 levels just check its yesterday's high
Yesterday we told you all buy INFOSYS with the stop loss of 1305 just check its yesterday's high
DID YOU FOLLOW OUR THIS CALL
Do you remember yesterday we told you that buy LT for the target of the 630 just check its yesterday's high it is
EXACTELY THE SAME
WE HOPE YOU ALL OUR VISITORS ENJOY IT
STILL YOU NEED TO CHECK OUR PERFORMANCE!!!!!!
WE WISH YOU ALL THE BEST FOR YOUR SUCCESFUL TRADING DAY.
NIFTY TODAY'S DECISIVE LEVELS:
UPPER SIDE: 2980 3020
LOWER SIDE: 2900 2880
TREND DECIDER WILL BE 2900
NIFTY: closed@2937.65
Heavy selling pressure from upper levels if trade continuously above 2900 then only thinks to buy.
BANK NIFTY: closed@4002
Yesterday we told you that buy this for the target of the 4150 we hope you enjoy our call. For today 3970 is the major support level if breaks this then lower side may touch 3800.
MARKET WATCH
NSE INDEX:
Yesterday we told you that the next target will be the 3000 which you all witnessed. Now 2900 2870 is the most crucial support level if breaks this then next target will be the 2700.
BSE INDEX:
8500 is the psychological support for the sensex, and 9100 will be the major resistance.
STOCKS TO WATCH
RELIANCE: (closing 1450.80)
Very strong closing, though little selling pressure seen from upper levels, but if sustain 1430 then buying opportunity for the target of 1500 1520
SBI: (closing 1033)
We are kept saying, that buy this stock when it was trade under the 900 so how was our call? Do you remember?????
BHARTI: (closing 601.70)
Though closing is very good above 600 but intense selling pressure has been seen, if trade above 595 then only buying opportunity.
ONGC: (closing 776)
Unable to sustain above 800, long term traders can buy this with the stop loss of 740.
MARUTI: (731.55)
Buy only if trade above 730 upper side resistance is 750 and lower side support will be the 715.
JSWSTEEL: (closing 192.30)
Buy only if trade above 197.
CALL/ PUT STRATEGY
Nifty: most active call was 3000 call though profit booking seen from upper levels so we will not suggest you to buy this call.
Nifty: same time nifty 3000 put was so active so we can assume that this level will be most crucial level for expiry.
RELIANCE: Reliance 1440 call was so active so we will suggest you that it will be the decisive level for the stock.
For detail contact us on 098850-24595 or mail us at nsemagic@yahoo.com
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DISCLAIMER :
Stock trading involves high risk and one can lose Substantial amount of money.The recommendations made herein Do not constitute an offer to sell or solicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will Not result in losses. Readers using the information contained herein are solely responsible for their actions. The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on technical analysis only. NOTE WE HAVE NO HOLDINGS IN ANY OF STOCKS RECOMMENDED ABOVE.
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