INDIAN EQUITY MARKET OPENED ON WEAK START DUE TO NEGATIVE GLOBAL CUES, HOWEVER SHORT COVERING IN THE EUROPEAN MARKETS LED TO SHORT COVERING IN INDIAN MARKETS TOO. MARKET CLOSED ON POSITIVE NOTE. NIFTY CLOSED AT 5064.30, UP BY 47.10 POINTS OVER THE PREVIOUS DAY CLOSING, SIMILARLY SENSEX CLOSED AT 16862.81, UP BY 149.48. MARKET BREADTH WAS POSITIVE AND BOTH MID-CAP & SMALL-CAP INDEX WAS UP BY MORE THAN A 0.5%. ALL FRONT-LINE STOCKS LIKE RELIANCE, ONGC, GAIL, INFOSYS WERE UP AND LED THE MARKET RECOVERY ON FUND HOUSE BUYING IN THESE COUNTERS. MARKET ROSE ON THE EXPECTATION OF GESTURE BY RBI GOVERNOR, REGARDING THE EASING OF CRR AND SLR TO PUMP LIQUIDITY IN THE SYSTEM. BANKING INDEX RECOVERED SHARPLY FROM THE DEEP CUT IN THE MORNING SESSION ON THE INDICATION BY RBI GOVERNOR.
INDIAN MARKETS ARE LIKELY TO REMAIN STRONG WITH UPWARD BIAS WITH HUGE VOLATILITY DUE TO JITTERY GLOBAL MARKETS.
AS THE NIFTY HAS SEEN CONSECUTIVE CLOSING ABOVE 5000 IT SHOWS THAT VALUE BUYING HAS BEEN EMERGED AT THE LOWER LEVELS. TECHNICALLY NIFTY HAS MANAGED TO CLOSE ABOVE 5060, ITS EXPECTED TO MOVE TO THE NEW RANGE OF 5120-4930. IF NIFTY MAINTAINS THE STRENGTH ABOVE 5120 , THE CORRECTIVE RALLY MIGHT TAKE NIFTY TO 5230-5250 ALSO IN EXTREME SHORT TERM. HOWEVER BREACH OF 4940 ON THE DOWN SIDE WOULD INDICATE THE END OF THE CURRENT CORRECTIVE RALLY AND OPEN THE GATE FOR 4800. HENCE LONG POSITIONS, IF ANY, SHOULD BE HELD WITH A STRICT STOP-LOSS OF 4940 IN NIFTY TERMS.
FOR TODAY: NIFTY HAS SUPPORT AT 5020 AND RESISTANCE AT 5090. IF THE SUPPORT OF 5020 IS BROKEN NIFTY MAY SLIP TO 4970 AND THEN 4940. HOWEVER IF NIFTY MANAGES TO SUSTAIN ABOVE 5090, THE LEVEL OF 5120-5170 SHALL BE THE NEXT TARGET.
STRATEGY FOR TODAY: NO TRADE ZONE IS 5020-5090.
BUY CE 5000 & CE5100, IF NIFTY SUSTAINS ABOVE 5090. KEEP 5020 AS STOP-LOSS.
BUY PE 5000 & PE4900, IF NIFTY BREAKS BELOW 5020. KEEP 5090 AS STOP-LOSS.
STOCKS/DERIVATIVES:
1. LT(1644.30): KEEP THE STOP-LOSS OF 1625 FOR THE TARGET OF 1655-1670-1680+++.
2. BATA(712.60): KEEP THE STOP-LOSS OF 684 FOR THE TARGET OF 730-745-755+++.
3.MARUTI CE1100(42.00): KEEP THE STOP-LOSS OF 10.00 FOR THE TARGET OF 60-70-80+++.
ASTROLOGICALLY: AFTER TWO DAYS OF WEAKNESS, NIFTY IS EXPECTED TO GIVE BULLISH BREAKOUT ON 8TH SEPTEMBER (THURSDAY) & 9TH SEPTEMBER(FRIDAY). BUYING OF CALL OPTION ON ANY DEEP CUT OR FALL SHALL BE GOOD STRATEGY FOR QUICK GAINS. NIFTY MAY TOUCH 5200 ZONE.
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 ARE LIKELY TO REMAIN STRONG WITH UPWARD BIAS WITH HUGE VOLATILITY DUE TO JITTERY GLOBAL MARKETS.
AS THE NIFTY HAS SEEN CONSECUTIVE CLOSING ABOVE 5000 IT SHOWS THAT VALUE BUYING HAS BEEN EMERGED AT THE LOWER LEVELS. TECHNICALLY NIFTY HAS MANAGED TO CLOSE ABOVE 5060, ITS EXPECTED TO MOVE TO THE NEW RANGE OF 5120-4930. IF NIFTY MAINTAINS THE STRENGTH ABOVE 5120 , THE CORRECTIVE RALLY MIGHT TAKE NIFTY TO 5230-5250 ALSO IN EXTREME SHORT TERM. HOWEVER BREACH OF 4940 ON THE DOWN SIDE WOULD INDICATE THE END OF THE CURRENT CORRECTIVE RALLY AND OPEN THE GATE FOR 4800. HENCE LONG POSITIONS, IF ANY, SHOULD BE HELD WITH A STRICT STOP-LOSS OF 4940 IN NIFTY TERMS.
FOR TODAY: NIFTY HAS SUPPORT AT 5020 AND RESISTANCE AT 5090. IF THE SUPPORT OF 5020 IS BROKEN NIFTY MAY SLIP TO 4970 AND THEN 4940. HOWEVER IF NIFTY MANAGES TO SUSTAIN ABOVE 5090, THE LEVEL OF 5120-5170 SHALL BE THE NEXT TARGET.
STRATEGY FOR TODAY: NO TRADE ZONE IS 5020-5090.
BUY CE 5000 & CE5100, IF NIFTY SUSTAINS ABOVE 5090. KEEP 5020 AS STOP-LOSS.
BUY PE 5000 & PE4900, IF NIFTY BREAKS BELOW 5020. KEEP 5090 AS STOP-LOSS.
STOCKS/DERIVATIVES:
1. LT(1644.30): KEEP THE STOP-LOSS OF 1625 FOR THE TARGET OF 1655-1670-1680+++.
2. BATA(712.60): KEEP THE STOP-LOSS OF 684 FOR THE TARGET OF 730-745-755+++.
3.MARUTI CE1100(42.00): KEEP THE STOP-LOSS OF 10.00 FOR THE TARGET OF 60-70-80+++.
ASTROLOGICALLY: AFTER TWO DAYS OF WEAKNESS, NIFTY IS EXPECTED TO GIVE BULLISH BREAKOUT ON 8TH SEPTEMBER (THURSDAY) & 9TH SEPTEMBER(FRIDAY). BUYING OF CALL OPTION ON ANY DEEP CUT OR FALL SHALL BE GOOD STRATEGY FOR QUICK GAINS. NIFTY MAY TOUCH 5200 ZONE.
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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