HEAVY SELLING WAS WITNESSED IN THE MARKET DUE TO WEAK GLOBAL CUES AND AFTER THE GAP DOWN OPENING INDICES CONTINUED TO TRADE WEAK. THE SENSEX CLOSED DOWN 204.44 AT 18109.89 AND NIFTY CLOSED AT 5456.55 DOWN 60.25 POINTS. BOTH MID-CAP & SMALL-CAP INDEX WAS DOWN AND MARKET BREADTH WAS NEGATIVE.
AFTER MAKING HIGH A HIGH OF 5702.25 ON 26th JULY 2011, NIFTY HAS CORRECTED OF ALMOST 4.72% IN JUST 5 DAYS. NOW NIFTY IS EXPECTED TO GET A STRONG SUPPORT AT 5400. IF NIFTY BREACHED 5400, THE SHORT TERM TREND WOULD BECOME NEGATIVE AND IT MAY TEST 5300, ON THE OTHER HAND BREACH OF 5750 DENOTING REVERSAL OF CURRENT TREND, ON THE HIGHER SIDE SHALL LEAD A STRONG RALLY, DUE TO SHORT COVERING & BUYING, TO
5900 IN THE EXTREME SHORT TERM.
FOR TODAY, NIFTY HAS STRONG SUPPORT AT 5430 AND IS LIKELY TO FACE A STIFF RESISTANCE NEAR 5510-15. IF NIFTY BREAKS 5430, IT MAY SLIP TO 5400 & THEN TO 5360 ON THE OTHER HAND IF NIFTY SUSTAINS ABOVE 5510-15 , IT MAY TEST 5540-5580.
STRATEGY FOR TODAY:
THOSE INTERESTED IN PLAYING IN NIFTY OPTIONS/FUTURES SHOULD NOT TRADE IN BETWEEN 5430---5456.55---5510.
BUY CE5500 IF NIFTY MOVES ABOVE 5510-15 ONLY AND BOOK PROFIT WHEN NIFTY REACHES 5540 & 5580.
BUY PE5400 IF NIFTY MOVES BELOW 5430-25 ONLY AND BOOK PROFIT WHEN NIFTY REACHES 5400 & 5360.
(NOTE: BIAS OF THE NIFTY SHALL BE WEAK AND DOWNWARD, AS SAID EARLIER IN THE BEGINNING OF THIS WEEK TO REMAIN CAUTIOUS).
FOLLOWING STOCKS SHOULD BE CONSIDERED FOR TRADING(Small quantity in trading/delivery is suggested):
1.RELIANCE(837.30): BUY FOR THE TARGET OF 845-860 KEEPING 825 AS STOP-LOSS.
2.HCL TECH(): BUY AROUND 568-570 FOR THE TARGET OF 580-600 KEEPING 558 AS STOP-LOSS.
3.TTK HEALTH(575.50): BUY IN DELIVERY FOR 7-10 DAYS FOR THE TARGET OF 630++
4.SOLAR INDUSTRIES( 736.00):BUY IN DELIVERY FOR 30-45 DAYS FOR THE TARGET OF 820++++
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.
AFTER MAKING HIGH A HIGH OF 5702.25 ON 26th JULY 2011, NIFTY HAS CORRECTED OF ALMOST 4.72% IN JUST 5 DAYS. NOW NIFTY IS EXPECTED TO GET A STRONG SUPPORT AT 5400. IF NIFTY BREACHED 5400, THE SHORT TERM TREND WOULD BECOME NEGATIVE AND IT MAY TEST 5300, ON THE OTHER HAND BREACH OF 5750 DENOTING REVERSAL OF CURRENT TREND, ON THE HIGHER SIDE SHALL LEAD A STRONG RALLY, DUE TO SHORT COVERING & BUYING, TO
5900 IN THE EXTREME SHORT TERM.
FOR TODAY, NIFTY HAS STRONG SUPPORT AT 5430 AND IS LIKELY TO FACE A STIFF RESISTANCE NEAR 5510-15. IF NIFTY BREAKS 5430, IT MAY SLIP TO 5400 & THEN TO 5360 ON THE OTHER HAND IF NIFTY SUSTAINS ABOVE 5510-15 , IT MAY TEST 5540-5580.
STRATEGY FOR TODAY:
THOSE INTERESTED IN PLAYING IN NIFTY OPTIONS/FUTURES SHOULD NOT TRADE IN BETWEEN 5430---5456.55---5510.
BUY CE5500 IF NIFTY MOVES ABOVE 5510-15 ONLY AND BOOK PROFIT WHEN NIFTY REACHES 5540 & 5580.
BUY PE5400 IF NIFTY MOVES BELOW 5430-25 ONLY AND BOOK PROFIT WHEN NIFTY REACHES 5400 & 5360.
(NOTE: BIAS OF THE NIFTY SHALL BE WEAK AND DOWNWARD, AS SAID EARLIER IN THE BEGINNING OF THIS WEEK TO REMAIN CAUTIOUS).
FOLLOWING STOCKS SHOULD BE CONSIDERED FOR TRADING(Small quantity in trading/delivery is suggested):
1.RELIANCE(837.30): BUY FOR THE TARGET OF 845-860 KEEPING 825 AS STOP-LOSS.
2.HCL TECH(): BUY AROUND 568-570 FOR THE TARGET OF 580-600 KEEPING 558 AS STOP-LOSS.
3.TTK HEALTH(575.50): BUY IN DELIVERY FOR 7-10 DAYS FOR THE TARGET OF 630++
4.SOLAR INDUSTRIES( 736.00):BUY IN DELIVERY FOR 30-45 DAYS FOR THE TARGET OF 820++++
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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