INDIAN MARKETS OPENED WEAK, MOVED TO POSITIVE ZONE HOWEVER THE DOWNGRADE OF JAPAN'S CREDIT RATING BY MOODY'S SPOILED THE SENTIMENTS AND INTENSE SELLING PRESSURE WAS SEEN TOWARDS THE LAST HOUR OF THE MARKET BRINGING THE SENSEX DOWN TO 16284.98 BY 213.49 POINTS, WHILE NIFTY SHUT SHOP AT 4888.90 DOWN BY 60.00 POINTS. BOTH MID-CAP AND SMALL-CAP INDEX CLOSED BELOW BY MORE THAN 0.50%. MARKET BREADTH WAS NEGATIVE & FIIs WERE NET SELLERS IN THE CASH SEGMENT WHILE DIIs WERE NET BUYERS IN THE CASH SEGMENT.
AS SAID EARLIER THE U.S ECONOMIC POLICY SYMPOSIUM ON 26TH AUGUST 2011 WILL BE THE NEXT MAJOR EVENT TO GOVERN THE DIRECTION OF THE MARKETS AROUND THE WORLD & DOMESTIC INSTABILITY RAISED BY SRI ANNA HAZARE MOVEMENT SHALL BE THE FOCUS. INDIAN STOCK MARKET IS LIKELY TO REMAIN IN A RANGE WITH NEGATIVE TREND & BIAS.
TECHNICALLY SPEAKING NIFTY HAS BEEN MOVING IN THE RANGE OF 4795 AND 4965 FOR LAST FOUR DAYS. YESTERDAY, AFTER THE INITIAL SHORT COVERING FOR LAST THREE DAYS (IN AUGUST SERIES) BEARS OPENED FRESH SHORTS IN SEPTEMBER SERIES, CONSEQUENTLY NIFTY SLIPPED BELOW 4900, NOW AS SAID EARLIER THAT THAT NIFTY WILL SETTLE BELOW 4800 IN AUGUST EXPIRY IS SOME WHAT EVIDENT. TO ADD A WORLD OF CAUTION, NIFTY SETTLEMENT BELOW 4800 INDICATES FURTHER WEAKNESS & NIFTY COULD TEST 4500 SOON.
FOR THE COMING PERIOD/WEEK: AS THE CRUCIAL SUPPORT OF MARKET IN TERMS OF NIFTY LIES AT 4790, SLIP BELOW THAT MAY TAKE NIFTY TO 4650 IN EXTREME SHORT TERM & 4500 ANY TIME THEREAFTER. HOWEVER ANY MOVE ABOVE 5020 WOULD OPEN GATE FOR 5200. THOSE TRADERS WHO HAVE MAINTAINED LONGS SHOULD KEEP 4790 AS STRICT STOP-LOSS.
FOR TODAY: NIFTY HAS SUPPORT AT 4840 AND RESISTANCE AT 4920. IF NIFTY BREAKS 4840, IT MAY SLIP TO 4810 & 4790, HOWEVER IF NIFTY SUSTAINS ABOVE 4920 THEN 4965 & 5020 WILL BE THE TARGET.
NOTE: AS PER THE INFORMED SOURCE, I HAVE MENTIONED 4-5 DAYS EARLIER THAT NIFTY SETTLEMENT WILL TAKE PLACE BELOW4800, HENCE THERE ARE FAIR CHANCES THAT NIFTY WILL SETTLE AT 4800 OR SLIGHTLY BELOW THAT.
STRATEGY FOR THE DAY(ON THE ASSUMPTION THAT NIFTY WILL SETTLE AT 4800 OR BELOW):
SELL NIFTY CALL CE4900(AUG) @16-15-14-13-12-10 FOR THE TARGET OF "ZERO" BY CLOSING HOURS OF MARKET, KEEP SL OF 30 (OR NIFTY 4920).
BUY PE4900(AUG) @48-50-52-54-58-60-65 FOR THE TARGET OF 100+++ BY CLOSING HOURS OF MARKET KEEP
SL OF 12-8.(OR NIFTY 4920).
ASTROLOGICALLY: AS SAID IN THE PAST POSTINGS, MARKETS ARE POOR TILL 4TH SEPTEMBER 2011 AND GLOBAL CUES ARE NOT GOOD FOR 25TH, 26TH & 27TH AUGUST FROM U.S & EUROPE, SHOULD KEEP STRICT STOP-LOSS IN LONG POSITIONS.
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.
AS SAID EARLIER THE U.S ECONOMIC POLICY SYMPOSIUM ON 26TH AUGUST 2011 WILL BE THE NEXT MAJOR EVENT TO GOVERN THE DIRECTION OF THE MARKETS AROUND THE WORLD & DOMESTIC INSTABILITY RAISED BY SRI ANNA HAZARE MOVEMENT SHALL BE THE FOCUS. INDIAN STOCK MARKET IS LIKELY TO REMAIN IN A RANGE WITH NEGATIVE TREND & BIAS.
TECHNICALLY SPEAKING NIFTY HAS BEEN MOVING IN THE RANGE OF 4795 AND 4965 FOR LAST FOUR DAYS. YESTERDAY, AFTER THE INITIAL SHORT COVERING FOR LAST THREE DAYS (IN AUGUST SERIES) BEARS OPENED FRESH SHORTS IN SEPTEMBER SERIES, CONSEQUENTLY NIFTY SLIPPED BELOW 4900, NOW AS SAID EARLIER THAT THAT NIFTY WILL SETTLE BELOW 4800 IN AUGUST EXPIRY IS SOME WHAT EVIDENT. TO ADD A WORLD OF CAUTION, NIFTY SETTLEMENT BELOW 4800 INDICATES FURTHER WEAKNESS & NIFTY COULD TEST 4500 SOON.
FOR THE COMING PERIOD/WEEK: AS THE CRUCIAL SUPPORT OF MARKET IN TERMS OF NIFTY LIES AT 4790, SLIP BELOW THAT MAY TAKE NIFTY TO 4650 IN EXTREME SHORT TERM & 4500 ANY TIME THEREAFTER. HOWEVER ANY MOVE ABOVE 5020 WOULD OPEN GATE FOR 5200. THOSE TRADERS WHO HAVE MAINTAINED LONGS SHOULD KEEP 4790 AS STRICT STOP-LOSS.
FOR TODAY: NIFTY HAS SUPPORT AT 4840 AND RESISTANCE AT 4920. IF NIFTY BREAKS 4840, IT MAY SLIP TO 4810 & 4790, HOWEVER IF NIFTY SUSTAINS ABOVE 4920 THEN 4965 & 5020 WILL BE THE TARGET.
NOTE: AS PER THE INFORMED SOURCE, I HAVE MENTIONED 4-5 DAYS EARLIER THAT NIFTY SETTLEMENT WILL TAKE PLACE BELOW4800, HENCE THERE ARE FAIR CHANCES THAT NIFTY WILL SETTLE AT 4800 OR SLIGHTLY BELOW THAT.
STRATEGY FOR THE DAY(ON THE ASSUMPTION THAT NIFTY WILL SETTLE AT 4800 OR BELOW):
SELL NIFTY CALL CE4900(AUG) @16-15-14-13-12-10 FOR THE TARGET OF "ZERO" BY CLOSING HOURS OF MARKET, KEEP SL OF 30 (OR NIFTY 4920).
BUY PE4900(AUG) @48-50-52-54-58-60-65 FOR THE TARGET OF 100+++ BY CLOSING HOURS OF MARKET KEEP
SL OF 12-8.(OR NIFTY 4920).
ASTROLOGICALLY: AS SAID IN THE PAST POSTINGS, MARKETS ARE POOR TILL 4TH SEPTEMBER 2011 AND GLOBAL CUES ARE NOT GOOD FOR 25TH, 26TH & 27TH AUGUST FROM U.S & EUROPE, SHOULD KEEP STRICT STOP-LOSS IN LONG POSITIONS.
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.
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