AS EXPECTED RBI HAS HIKED REPO-RATE BY 25bps WITH HAWKISH LANGUAGE. MARKET NEGLECTED THE EVENT AND AFTER INITIAL BLIP MARKET RECOVERED AND CLOSED IN POSITIVE TERRITORY . NIFTY ENDED AT 5084.25 AND SENSEX AT 16933.83.
GOING FORWARD THE MARKET IS LIKELY TO TRADE ON GLOBAL CUES. EURO-ZONE DEBT CRISIS AND 2 DAYS FED POLICY REVIEW MEET ON SEPTEMBER 20-21ST, 2011 SHALL BE THE MAJOR EVENT MARKET SHALL KEEP AN EYE ON.
ITS IMPORTANT TO SEE WHETHER QE3 IS ANNOUNCED OR NOT. HENCE BOTH U.S. AND INDIAN MARKETS ARE LIKELY TO TRADE IN THE RANGE. THE BROAD RANGE FOR THE NIFTY SHALL BE 4900-5300 FOR THIS WEEK.
SHORT TERM SUPPORT FOR THE NIFTY IS 4910 AND RESISTANCE AT 5230. IF NIFTY TRADES ABOVE 5230 THE UPWARD RALLY MAY CARRY NIFTY TO 5400. HOWEVER ANY BREACH OF 4900 SHALL TAKE NIFTY TO 4800-4700. HENCE A STOP-LOSS OF 4910 SHOULD BE MAINTAINED ON ALL LONG POSITIONS.
FOR TODAY: NIFTY SUPPORT AT 5020 AND RESISTANCE AT 5110.(THIS IS ALSO A NO TRADE ZONE).
IF NIFTY TRADES ABOVE 5110 THEN 5170-5230 SHALL BE THE TARGET(BUY CE5100 & CE5200 WITH STOP-LOSS AT 5020)
AND IF NIFTY SUSTAINS BELOW 5020 THEN NIFTY MAY SLIP TO 4970-4910 SHALL BE THE TARGET (BUY PE5000 & PE4900 WITH STOP-LOSS AT 5110)
ASTROLOGICALLY: MARKET SHOULD BE WEAK ON MONDAY(19TH SEPTEMBER) AND TUESDAY(20TH SEPTEMBER). BUYING PUTS AT HIGHER LEVELS SHOULD GIVE QUICK PROFITS.
GOING FORWARD THE MARKET IS LIKELY TO TRADE ON GLOBAL CUES. EURO-ZONE DEBT CRISIS AND 2 DAYS FED POLICY REVIEW MEET ON SEPTEMBER 20-21ST, 2011 SHALL BE THE MAJOR EVENT MARKET SHALL KEEP AN EYE ON.
ITS IMPORTANT TO SEE WHETHER QE3 IS ANNOUNCED OR NOT. HENCE BOTH U.S. AND INDIAN MARKETS ARE LIKELY TO TRADE IN THE RANGE. THE BROAD RANGE FOR THE NIFTY SHALL BE 4900-5300 FOR THIS WEEK.
SHORT TERM SUPPORT FOR THE NIFTY IS 4910 AND RESISTANCE AT 5230. IF NIFTY TRADES ABOVE 5230 THE UPWARD RALLY MAY CARRY NIFTY TO 5400. HOWEVER ANY BREACH OF 4900 SHALL TAKE NIFTY TO 4800-4700. HENCE A STOP-LOSS OF 4910 SHOULD BE MAINTAINED ON ALL LONG POSITIONS.
FOR TODAY: NIFTY SUPPORT AT 5020 AND RESISTANCE AT 5110.(THIS IS ALSO A NO TRADE ZONE).
IF NIFTY TRADES ABOVE 5110 THEN 5170-5230 SHALL BE THE TARGET(BUY CE5100 & CE5200 WITH STOP-LOSS AT 5020)
AND IF NIFTY SUSTAINS BELOW 5020 THEN NIFTY MAY SLIP TO 4970-4910 SHALL BE THE TARGET (BUY PE5000 & PE4900 WITH STOP-LOSS AT 5110)
ASTROLOGICALLY: MARKET SHOULD BE WEAK ON MONDAY(19TH SEPTEMBER) AND TUESDAY(20TH SEPTEMBER). BUYING PUTS AT HIGHER LEVELS SHOULD GIVE QUICK PROFITS.
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.
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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