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DATED : 22nd April. 2009
WE WISH YOU ALL THE BEST FOR YOUR SUCCESFUL
TRADING DAY.
CURRENT POLITICAL ENVIRONMENT MAY LEADS THE VOLATILITY IN MARKET
NIFTY TODAY'S DECISIVE LEVELS:
UPPER SIDE: 3380 3420
LOWER SIDE: 3320 3270
TREND DECIDER WILL BE 3350
BULL RUN IS STILL REMAINING ABOVE 2975
Market Out Look
MARKET LOOKS BEARISH DUE TO EXPECTATION OF SELLING PRESSURE AND PROFIT TAKING AT HIGHER LEVELS. BUT IF BUYING AT LOWER LEVEL COMES THEN MARKET RUNS AGAIN.
Option Strategy :
THE PUT OPTION OF NIFTY 3300 HAVE HUGE VOLUME AND STRONG OPEN INTEREST WHICH INDICATES BEARISH NESS PROFIT TAKING ALSO SUPPORT PUTS WHILE ANOTHER SIDE CALL OPTION OF 3400-3500 ARE MOSTLY ACTIVE .
Sectortrend: THE METAL, REALTY, ,AUTO BANKEX, SECTOR ARE LOOKING DOWNSIDE WHILE ONLY REALTY SECTOR SHOWING STRENGTH.
STOCKWATCH:BHARTIAIRTEL , HINDALCO, DLF, TATA POWER, ARE LOOKING GOOD HAVING STRONG VOLUME AND TRADES AT RESISTANCE WHILE PUNJLLOYD,BOI,HCC ARE IN NEGATIVE TREND.
NIFTY: closed@3358
Selling pressure is expected but thinks to sell only below 3280. Try to buy from lower levels with stop loss of 3280 for the target of 3380 3420 3440. Lower level major support will be 3280 3245 3225.
BANK NIFTY: closed@4836
4800 will be the strong support if breaks this then may reach 4700 4600.
INDEX OUT LOOK
NSE : NIFTY TRADES IN RANGE OF 3300-3500 IF NIFTY GOES BELOW 3300 IT GOES NONSTOP TO 3150 .NIFTY SPOT AND FUTURE BOTH GIVES CLOSING AT SAME 3365 AND ABOVE 3400 TAR UP TO 3450.
BSE : SENSEX CLOSED BELOW 11000 AT 10898 THESE INDICATES SOME BEARISH PATTERN IF IT BREAKS 10700 THEN GOES UP TO 10470 ANOTHER SIDE IF AGAIN MAINTAIN ABOVE 11000 THEN SOME POSITIVE TREND EXPECT.
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MARKET WATCH
NSE INDEX:
Seesaw movement of the market indicating us to avoid heavy trade, we suggest the traders avoid heavy buying or selling till elections. We are expecting 20% correction after elections. Till then trade with STRICT STOP LOSS.
BSE INDEX:
10,300 will be the strongest support level if breaks this then next target will be the 9800. But if maintain this then bullish trend will continue.
STOCKS TO WATCH
"R" GROUP RESULT ANNOUNCEMENT ON 23RD APRIL
RELIANCE: (closing 1704)
From last few sessions we are continuously saying that buy Reliance with the stop loss of 1680 we hope you all enjoyed it. If successfully breaks 1680 then may sell for the target of 1650 1625. But above 1700 buy with stop loss of 1680.
SBI: (closing 1245)
Long term buyers again catch this stock around 1050. But for day trading sell this stock below 1275 with stop loss of the 1290 for the target of the 1230 1210.
BANK OF INDIA: (closing 250)
Selling opportunity only below 246 targets will be 235 225. But buy above 250 targets will be the 260 270 with strict stop loss of 244.
ICICIBANK: (closing 398.75)
Closing below 400 is technically weak indication for the stock, but major support level will be the 384, sell only below this level other wise buy for the target of 425.
BHARTI: (closing 719.50)
Showed a very god movement yesterday, above 690 very good buying indications, you may keep it as a stop loss.
CIPLA: (closing 233.30)
Smart recovery from lower levels, 245 will be the major resistance for the stock, and 217 will be the support.
CALL/ PUT STRATEGY
Nifty: 3500 call shows good volume we must trade according the trend.
Nifty: 3400 put shows good opportunity to trade.
RELIANCE: 1800 call shows the good volume.
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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.
