MARKET MOVED IN A RANGE BOUND MOVE AFTER THE TWO SESSIONS OF STRONG UP MOVE IT PAUSED AND STARTED CONSOLIDATING. SENSEX WENT HIGH OF 16774.12 AND CLOSED AT 16536.47, DOWN 20.76 AND NIFTY WENT HIGH OF 5045.10 HOWEVER CLOSED DOWN 5.25 AT 4974.35. TRADERS BOOKED PROFIT AHEAD OF INFOSYS Q2 RESULTS AND IIP DATA, SCHEDULED ON WEDNESDAY.
GOING FORWARD, IF INFOSYS DELIVERS GOOD RESULT AND GUIDANCE THEN THE MARKET MAY SHOW ANOTHER ROUND OF SHORT COVERING AND NIFTY MAY TOUCH 5170-5200 ZONE. IF THE IIP DATA IS STRONG, INFOSYS GIVES GOOD GUIDANCE AND INFLATION FIGURE REMAINS ALARMING( DATA ON 14TH OCT), THEN RBI MAY CONSIDER HIKING REPO RATE BY 25bps ON ITS NEXT POLICY MEET, SCHEDULED ON OCTOBER 25TH, 2011, ELSE THERE MIGHT BE PAUSE IF THE INFLATION FIGURE SHOWS THE INITIAL SIGNS OF COOLING. HENCE IN ALL THERE WILL BE A CRUCIAL 2-3 TRADING SESSIONS AND MARKETS MEY BEHAVE ON BOTH DOMESTIC AND GLOBAL CUES. VOLATILITY IS EXPECTED TO SHOW ITS DRAMA. NONETHELESS ANALYST BELIEVE THAT THE CURRENT RALLY IS SHORT COVERING AND MIGHT LOOSED STEAM ANY TIME IF THE POOR CUES START DROPPING IN.
AFTER MAKING A LOW OF 4728.30 ON OCTOBER 3 NIFTY HAS GIVEN A RALLY OF ALMOST 7.98% IN JUST FIVE TRADING SESSIONS. HENCE NIFTY MAY CONSOLIDATE IN THE RANGE OF 4800-5110. IF NIFTY BREAKS 4800 ON THE DOWN SIDE THEN IT MAY FALL TO 4700-4650 ON THE OTHER HAND IF NIFTY MANAGES TO BREAK AND CLOSE ABOVE 5110 THEN 5170-5230 WILL BE THE SHORT TERM TARGET.
FOR TODAY: NIFTY HAS SUPPORT AT 4940 AND STRONG RESISTANCE AT 5020. IF NIFTY MOVES/CLOSES ABOVE 5020 THEN NIFTY MAY TOUCH 5065-5110 SIMILARLY IF NIFTY BREAKS 4940 THEN IT MAY FALL TO 4900-4860.
TO MY VIEW: ONE SHOULD WAIT FOR NIFTY TO TOUCH 5170-5230, AS THE DATA & RESULTS MAY BRING STRENGTH & SENTIMENT FOR BULLS SO WAIT AND BUY PUTs WHEN NIFTY TOUCHES 5170-5230 AND PROFITS WILL BE MADE WHEN NIFTY SLIPS FROM RESISTANCE.
ONE MORE STOCK WHICH IS ADDED, ONCE AGAIN IN MY LOVE LIST IS TTK PRESTIGE. BUY THIS STOCK ON CMP(2851.60) OR ON DIPS FOR THE TARGET OF 3250-3300-3500.
I am worried about the Global Economy and Markets in months to come.
Interesting Article one can read:http://www.frbatlanta.org/filelegacydocs/ern390_tallman.pdf
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.
GOING FORWARD, IF INFOSYS DELIVERS GOOD RESULT AND GUIDANCE THEN THE MARKET MAY SHOW ANOTHER ROUND OF SHORT COVERING AND NIFTY MAY TOUCH 5170-5200 ZONE. IF THE IIP DATA IS STRONG, INFOSYS GIVES GOOD GUIDANCE AND INFLATION FIGURE REMAINS ALARMING( DATA ON 14TH OCT), THEN RBI MAY CONSIDER HIKING REPO RATE BY 25bps ON ITS NEXT POLICY MEET, SCHEDULED ON OCTOBER 25TH, 2011, ELSE THERE MIGHT BE PAUSE IF THE INFLATION FIGURE SHOWS THE INITIAL SIGNS OF COOLING. HENCE IN ALL THERE WILL BE A CRUCIAL 2-3 TRADING SESSIONS AND MARKETS MEY BEHAVE ON BOTH DOMESTIC AND GLOBAL CUES. VOLATILITY IS EXPECTED TO SHOW ITS DRAMA. NONETHELESS ANALYST BELIEVE THAT THE CURRENT RALLY IS SHORT COVERING AND MIGHT LOOSED STEAM ANY TIME IF THE POOR CUES START DROPPING IN.
AFTER MAKING A LOW OF 4728.30 ON OCTOBER 3 NIFTY HAS GIVEN A RALLY OF ALMOST 7.98% IN JUST FIVE TRADING SESSIONS. HENCE NIFTY MAY CONSOLIDATE IN THE RANGE OF 4800-5110. IF NIFTY BREAKS 4800 ON THE DOWN SIDE THEN IT MAY FALL TO 4700-4650 ON THE OTHER HAND IF NIFTY MANAGES TO BREAK AND CLOSE ABOVE 5110 THEN 5170-5230 WILL BE THE SHORT TERM TARGET.
FOR TODAY: NIFTY HAS SUPPORT AT 4940 AND STRONG RESISTANCE AT 5020. IF NIFTY MOVES/CLOSES ABOVE 5020 THEN NIFTY MAY TOUCH 5065-5110 SIMILARLY IF NIFTY BREAKS 4940 THEN IT MAY FALL TO 4900-4860.
TO MY VIEW: ONE SHOULD WAIT FOR NIFTY TO TOUCH 5170-5230, AS THE DATA & RESULTS MAY BRING STRENGTH & SENTIMENT FOR BULLS SO WAIT AND BUY PUTs WHEN NIFTY TOUCHES 5170-5230 AND PROFITS WILL BE MADE WHEN NIFTY SLIPS FROM RESISTANCE.
ONE MORE STOCK WHICH IS ADDED, ONCE AGAIN IN MY LOVE LIST IS TTK PRESTIGE. BUY THIS STOCK ON CMP(2851.60) OR ON DIPS FOR THE TARGET OF 3250-3300-3500.
I am worried about the Global Economy and Markets in months to come.
Interesting Article one can read:http://www.frbatlanta.org/filelegacydocs/ern390_tallman.pdf
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:
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.