INDIAN MARKETS OPENED STRONG WITH GAP-UP FOLLOWING THE CUES FROM THE OVERSEAS MARKETS. MARKETS PARED SOME GAINS DUE TO PROFIT BOOKING ON SELECT STOCKS AND ENDED IN GREEN REVERSING ITS SIX-DAY LOOSING STREAK. NIFTY ENDED AT 5161.00, UP 88.15 AND SENSEX ENDED AT 17130.51, UP 272.60. FIIs & DIIs WERE NET BUYERS, MARKET BREADTH WAS POSITIVE AND BOTH MID-CAP & SMALL-CAP INDEX WERE IN GREEN. AUTO SECTOR APPEARED AS MAJOR GAINER WHILE BANKING,REALITY AND FERTILIZER FOLLOWED THE TREND.
INDIAN MARKETS WILL FOLLOW THE GLOBAL TRENDS & CUES AND THE STOCK SPECIFIC MOVES SHALL CONTINUE ON RESULTS AND OTHER NEWS FLOW LIKE WEEKLY FOOD & INFLATION DATA. MARKET SEEMS TO BE BEARISH AND CONTINUE TO TRADE IN A RANGE FOR FEW SESSIONS BEFORE TAKING THE FINAL DIRECTION, HOWEVER THE UPSIDE SEEMS TO BE CAPPED DUE TO GLOBAL VOLATILITY AND CUES.
AS SAID EARLIER THAT MARKET IS OVERSOLD AND LEADING INDICATORS SHEW A BOUNCE BACK , IT HAPPENED AND NIFTY TOUCHED THE INTRA-DAY HIGH OF 5197.95 IN PULL BACK RALLY.
NOW NIFTY IS EXPECTED TO MOVE IN THE RANGE OF 4940-50 TO 5330-50. IF NIFTY BREACHES THE LOWER RANGE 4940 THEN THE SHORT TERM TREND WOULD BECOME NEGATIVE AND IT MAY SLIP TO 4720-4700, ON THE OTHER HAND BREAK ABOVE 5350 WOULD LEAD TO VERY SHORT TERM RALLY TO 5500.
FOR TODAY: NIFTY HAS SUPPORT AT 5130 & RESISTANCE AT 5200. BREAK OF 5130, NIFTY COULD SLIP TO 5105 & 5070 ON THE OTHER HAND ABOVE 5200, NIFTY COULD RISE TO 5235 & 5280.
STRATEGY FOR THE DAY: AS THERE COULD BE HIGH VOLATILITY, TRADING TODAY COULD RESULT IN LOSS. CONTRARILY TO THIS VIEW ONE COULD BUY PUTS, EVEN IF NIFTY COULD OPEN GAP DOWN, THERE COULD BE LITTLE RISE AND MORE FALL, THEN LITTLE RISE AND MORE FALL. HENCE BUYING PE5100 & PE5000 ON EVERY RISE, KEEPING 5200 AS STOP-LOSS TO PUTS SHALL GIVE PROFITS.
NO DELIVERY BUYING & INTRA-DAY OR DERIVATIVE POSITION IS SUGGESTED TODAY.
ASTROLOGICALLY: AS PREDICTED ON MY SUNDAY NIGHT UPDATE THAT DURING THIS WEEK, TUESDAY 9TH AUGUST & THURSDAY 11TH AUGUST SHALL SHALL BE WEAK DAYS AND WEDNESDAY,10TH AUGUST SHALL BE STRONG DAY. HENCE BIAS OF THE MARKET SHALL BE WEAK TODAY. PLANETARY COMBINATION SUGGEST THAT ITS POOR TO TRADE TODAY, AS THE MARKET SHALL GIVE DECEPTION TO BOTH BULLS & BEARS.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
INDIAN MARKETS WILL FOLLOW THE GLOBAL TRENDS & CUES AND THE STOCK SPECIFIC MOVES SHALL CONTINUE ON RESULTS AND OTHER NEWS FLOW LIKE WEEKLY FOOD & INFLATION DATA. MARKET SEEMS TO BE BEARISH AND CONTINUE TO TRADE IN A RANGE FOR FEW SESSIONS BEFORE TAKING THE FINAL DIRECTION, HOWEVER THE UPSIDE SEEMS TO BE CAPPED DUE TO GLOBAL VOLATILITY AND CUES.
AS SAID EARLIER THAT MARKET IS OVERSOLD AND LEADING INDICATORS SHEW A BOUNCE BACK , IT HAPPENED AND NIFTY TOUCHED THE INTRA-DAY HIGH OF 5197.95 IN PULL BACK RALLY.
NOW NIFTY IS EXPECTED TO MOVE IN THE RANGE OF 4940-50 TO 5330-50. IF NIFTY BREACHES THE LOWER RANGE 4940 THEN THE SHORT TERM TREND WOULD BECOME NEGATIVE AND IT MAY SLIP TO 4720-4700, ON THE OTHER HAND BREAK ABOVE 5350 WOULD LEAD TO VERY SHORT TERM RALLY TO 5500.
FOR TODAY: NIFTY HAS SUPPORT AT 5130 & RESISTANCE AT 5200. BREAK OF 5130, NIFTY COULD SLIP TO 5105 & 5070 ON THE OTHER HAND ABOVE 5200, NIFTY COULD RISE TO 5235 & 5280.
STRATEGY FOR THE DAY: AS THERE COULD BE HIGH VOLATILITY, TRADING TODAY COULD RESULT IN LOSS. CONTRARILY TO THIS VIEW ONE COULD BUY PUTS, EVEN IF NIFTY COULD OPEN GAP DOWN, THERE COULD BE LITTLE RISE AND MORE FALL, THEN LITTLE RISE AND MORE FALL. HENCE BUYING PE5100 & PE5000 ON EVERY RISE, KEEPING 5200 AS STOP-LOSS TO PUTS SHALL GIVE PROFITS.
NO DELIVERY BUYING & INTRA-DAY OR DERIVATIVE POSITION IS SUGGESTED TODAY.
ASTROLOGICALLY: AS PREDICTED ON MY SUNDAY NIGHT UPDATE THAT DURING THIS WEEK, TUESDAY 9TH AUGUST & THURSDAY 11TH AUGUST SHALL SHALL BE WEAK DAYS AND WEDNESDAY,10TH AUGUST SHALL BE STRONG DAY. HENCE BIAS OF THE MARKET SHALL BE WEAK TODAY. PLANETARY COMBINATION SUGGEST THAT ITS POOR TO TRADE TODAY, AS THE MARKET SHALL GIVE DECEPTION TO BOTH BULLS & BEARS.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
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