INDIAN STOCK MARKET (Only Options)

25TH NOVEMBER NIFTY VIEW.

2010-11-25T01:08:00.001+05:30

After a steady opening, Nifty Future made a high of 5987 and there after remained weak and in the last hour collapsed on the back of one more scam - the extent of which is still not known. Point to note is that, Nifty Future did not go below yesterday's low (may be for want of time)

Important thing for tomorrow is whether we go below the Trend Line on the EOD chart or in other words below 5800. The way the scam news is played by the media channels there could be a lower opening, in that case Nifty Future will go below the trend line to seek support at 5750 level, Tomorrow also happens to be FNO settlement day and the Scam news will only go to make the market more volatile. In these circumstances taking intra day trades may need some extra courage and lot of luck on your side.

Short position may be taken only below 5800, with stop loss of 5840. On the down side, it will find support at 5750 or max 5725 if this news makes the market very bearish. Please keep your TV sets mute so that you do not get very bearish when the markets are hitting the bottom. If you notice the EOD Chart, the fall from 6349 is perpendicular and 5725-5750 has the potential to provide good support - at least for a decent bounce.

Long position may be taken at 5725-5750 levels in Dec series, with strict stop loss of 5700. On higher side it will find resistance at 5940 and 6000.

24TH NOVEMBER NIFTY VIEW.

2010-11-23T23:54:00.001+05:30

In today's trading, Nifty Future opened weak and maintained downward bias and precipitated in to a sharp fall due to problems in Korea. While we are still not done with our own 2G Scam, the market in now faced with an international problem. This pulled market down to a new low of 5822 and there after saw a sharp up move of almost 100 points (due to trend line support on the EOD chart) to close the markets at 5941. We still have to contend with a lower top and lower bottom for the day and also a lower low on the weekly chart. From today's movement, it appears that we will soon see the much awaited 5750 level to complete the pattern target .

For tomorrow, one should consider going short below 5900 with stop loss of 5940. On the down side if it breaks 5820 it will quickly go down to 5725-5750 levels. With just a day left for the FNO settlement, it would be better to create fresh long position at this level in the Dec FNO series. However, it should be noted that if the trend line is broken, Nifty Future will get weak and hence any buying at the support levels, should be bought for pullback only. It will be prudent to square of the positions intra day.

On the higher side. 6000 will provide strong resistance and it is best to avoid long positions at higher levels.

For investment buying - let the market give the signals to indicate that we are done with the downside.

All the best

12TH NOVEMBER NIFTY VIEW.

2010-11-12T09:00:00.001+05:30

In yesterday's trading, Nifty Future opened at yesterday's level and managed a high of 6321 in early trades. Thereafter, it maintained a downward bias and saw a sharp fall in the 2nd session to a low of 6209 and closed at 6233.

Please note that 6180 - 6200 range is a good support area. Coupled with that, Friday effect tomorrow may help Nifty Future to bounce back to 6280, hence at lower levels - be cautious of short positions.

In case Nifty Future breaks 6180 level, it will find support at 6155 - 6125 and 6100. Unless there are some external events, I don't think 6180 will be broken tomorrow, in view of the multiple supports as indicated above.

All the best,

11th NOVEMBER NIFTY VIEW.

2010-11-11T08:36:00.001+05:30

In yesterday's trading, Nifty Future did not open strong as expected. Instead, it ended up trading in a narrow range of just 37 points (High 6332 & Low 6295) and closed at 6308. Thus Nifty Future has remained listless and giving no direction.

In view of the above, I would caution not to become too bearish too early, because we still remain in the bull grip and hence after a few days of sideways movement, Nifty Future may continue the upward march. At this stage, I would like to remind the readers that we have made a new top only in Nifty Future that too due to higher premium over the spot and to mark the festival mood during the muhurat trading. Neither Nifty Spot nor Sensex has been able to achieve this milestone as yet and considering the set up, the possibility of Nifty Future attempting 6400 can not be ruled out.

I would maintain my yesterday's guidance of going long only above 6360 with stop loss of 6330 and target of 6400.

Short position may be taken below 6290 with stop loss of 6340. On the down side it will find support at 6250 and 6200.

What is stated above, may not give you trades (and therefore less excitement/anxiety), but in my view, it will be better to sit on the side lines, when market is in a narrow range.

All the best.

10th NOVEMBER NIFTY VIEW.

2010-11-10T08:45:00.000+05:30

After a firm opening, Nifty Future remained weak till the mid session and made a low of 6262. Thereafter, it made a sharp up move to make a high of 6347 and closed firm at 6333 - near the high of the day. Thus, firm opening today almost certain.

Today, one can consider going long above 6360 with a strict stop loss of 6330. On higher side, it will find major resistance at 6400. In the event, Nifty Future does come down after making a top around 6400, one can consider going short once Nifty Future starts trading below 6360 with stop loss just above the day's top. I am indicating bearishness, in view of divergence on the EOD chart.

All the best.

09th NOVEMBER NIFTY VIEW.

2010-11-09T08:21:00.001+05:30

In yesrterday's trading, Nifty Future opened steady, but could not sustain at higher levels and made a low of 6282 and remained sideways to close at 6297. Reliance provided the support to Nifty Future from falling too fast. The days close is near the low of the day, suggesting weak opening for today

For today, short positions may be taken with stop loss of 6340. On the lower side, it will find support at 6250 and strong support at 6200. I would continue to suggest that please avoid long positions for now and simultaneously caution that short trades too may be squared off at the support levels.

All the best.

MUHURAT TRADING NIFTY VIEW.

2010-11-05T17:59:00.000+05:30

WISHING YOU ALL

A VERY HAPPY DIWALI

AND

A PROSPEROUS NEW YEAR.

NIFTY FUTURE:

As anticipated, higher listing of Coal India led to jubilant mood and took Nifty Spot above the previous week's high, though Nifty Future remained short of crossing the previous week's high of 6318.

With US markets trading up we should see a muhurat trading tomorrow, wherein we will cross the previous top of 6336.

The key hurdle now remains is 6400.

enjoy the good times and enjoy Diwali !

ALL THE BEST.

4TH NOVEMBER NIFTY VIEW.

2010-11-03T23:38:00.000+05:30

In today's trading, Nifty Future opened with a gap but remained largely sideways there after. The day's high and low were 6215 and 6176 respectively (39 points range). suggesting indecisiveness. On the other hand Bank Nifty Future made a new 52 week high and closed at higher levels - suggesting strength.

Nifty Future remains high but lacks strength. May be Coal India listing tomorrow may provide the necessary guidance to the market and help decide the direction.

As we are near the higher resistance levels, i would not recommend fresh long positions - though I must add that listing of Coal India at higher premium may definitely help the sentiment - particularly when we are in the celebration mood on account of Diwali.

Short positions may be taken below 6170 with stop loss of 6215. On the lower levels, it will find support at 6150 and 6100 levels.

Considering the narrow range it is best to spend more time on celebrating Diwali and take time off trading - at least till this weekend.

All the best.

3rd OCTOBER NIFTY VIEW.

2010-11-03T08:53:00.000+05:30

In yestarday's trading Nifty Future traded in a narrow range with the day's high of 6174 and the day's low of 6128. On the 30 min chart I have shown a trend line which is acting as resistance for Nifty Future.

For today, one can consider going long with a stop loss of 6130. On higher side, it will find resistance at 6185 - 6210 and 6250.

Short position should be considered below 6130 with a stop loss of 6160. On the lower side, it will find support at 6100 and 6075.

All the best.

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2010-11-02T13:15:00.000+05:30

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2010-11-02T10:37:00.000+05:30

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2010-11-02T10:20:00.000+05:30

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2010-11-02T09:54:00.000+05:30

BUY BHARATHIAIRTEL Fut @ 332 S/L 324 ; T1- 337 ; T2- 343; T3- 366

BHARATHIAIRTEL 340 CA @8-9 SL 5 TARGET 13-17-24

2nd NOVEMBER NIFTY VIEW.

2010-11-02T09:02:00.000+05:30

In yesterday's trading, Nifty Future saw gap open, followed by a sustained rise to make a high of 6172 and the day's low was 6091. The gains were led by Reliance and bank stocks - particularly ICICI BANK.

We have an important event (RBI meet) lined up for today, that could have impact on Bank stocks. Yesterday Bank Nifty has almost come to the previous level and is close to doing a double top. Expecting bank stocks to continue its sustained rise (post RBI announcements) from the current levels would be a little preposterous, hence the probaility of negative reaction to the policy announcements remains higher. Long positions in Bank Nifty should be trailed with stop loss of 12600.

As regards Nifty Future, considering sharp rise yesterday, it would be better to avoid fresh long positions today. On higher side 6185 would be a hurdle and hence the same too can be used as a stop loss.

One can consider going short when Nifty trades below 6130 level with 6160 as a stop loss. On the down side 6100 and 6065 will provide support.

All the best.

1ST NOVEMBER NIFTY VIEW.

2010-11-01T10:10:00.000+05:30

In Friday's trading, Nifty Future maintained a negative bias and made a new low of 5966 and in last hour made a sharp recovery to the day's high of 6066 and closed at 6044. The reason for the recovery could be strong support indicated at 5950 and also that day being a weekly/monthly close.

Today Long positions should be taken only above 6075 with stop loss of 6045. On higher side, it will face resistance at 6100 and strong resistance at 6145. While above 6145 it may show strength, and hence it is better not to remain short. However, I would like to caution the readers, that even after reaching 6225 it may fall short of going to the previous top of 6336. Only a close above 6225 we can expect to see Nifty Future making a new top.

As Nifty Future has shown a sharp pull back from the area of support near 5950, it would be better to avoid short trades at lower levels - at least for today

Next week is made of Diwali festivities and President Obama's visit - both events being times to celebrate and feel good, and hence market too may end up directionless.

All the best.

29th OCTOBER NIFTY VIEW.

2010-10-29T10:11:00.000+05:30

Yesterday the FNO settlement ended amidst lot of volatility, on a downward bias. However, Nov Nifty Future traded at a premium of 70 points leaving hopes of continuation of the up move. The fact that Nifty Future closed below 6000 itself indicates weakness.

Today is an important day, as it is a last day of the weak/month. Any close below 6100 should be considered as the first sign of weakness on the monthly chart. This will confirm my apprehensions of market top in the 144th week (6318) from the previous high of 6336 in Jan 2008.

Though Nifty Future has 0.382 level support at 5950, what is important is the how far the Nifty Future is able to bounce. Further up side should be expected only if Nifty Future manages to go above 6065.

On the down side 5950 will act as a good support.

Will post regular weekly post tomorrow.

All the best.

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2010-10-28T11:29:00.000+05:30

RELIANCE 1100 CA @ 4 TO NOW TRADING @ 8 .

HALF BOOK HERE.

EXPIRY SPL CALL.

2010-10-28T10:33:00.000+05:30

BUY RELIANCE OCT 1100 CA @ 4 SL 0 TARGET 8-10 -15-20

BUY BUY BUY

2010-10-28T09:45:00.000+05:30

BUY PETRONET LNG NOV 120 CA @ 4-5 SL 2 TARGET 8-12-18 - 22

28th OCTOBER NIFTY VIEW.

2010-10-27T22:00:00.002+05:30

After a weak opening, Nifty Future managed to do a high of 6102 and in the second half of the day became very weak to make day's low of 6005 and closed marginally up at 6038 - However, this being a descending line, the breakout point is getting to be lower every day and tomorrow it will be at 6100. Reliance continues to remain strong and can spring a surprise - mainly due to FNO settlement scheduled for tomorrow.

While we are very close to the previous low of 5988 and Nifty Future does look very weak, I would advise caution in going short at lower levels as Reliance can provide strength to nifty future for a decent close on the settlement day.

At the time of writing this post, US markets are weak and hence we too may see weak opening. Please note that even if 5988 is broken, we have 5950 (0.382 level) which may provide good support. If Nifty Future takes support at this level, one can consider going long with stop loss of 5925.

In case of stable opening, one can consider going long above 6050 level with stop loss of 6005 level. On higher side, 6080 and 6100 will provide resistance. It is advisable not to remain short above 6135 level .

All the best.

27TH OCTOBER NIFTY VIEW.

2010-10-27T09:08:00.001+05:30

In yesterday's trading, Nifty Future had a lackluster trading except for a spike to a high of 6141. The day's low was 6094 and hence technically we have to consider that Nifty Future made a lower top and lower bottom - a sign of weakness. But considering the FNO settlement just 2 days away and looking at the position . I would continue to be hopeful of further up move - with good possibility of Reliance providing the lead.

Accordingly. I would advise going long above 6120 with stop loss of 6090. On higher side it will find resistance at 6155 - 6190 and 6240.

Nifty Future may get weak below 6085 but will find support at 6065, hence short positions are best avoided. Instead it will be better to consider long positions with suitable stop loss.

All the best.

26th OCTOBER NIFTY VIEW

2010-10-26T09:07:00.001+05:30

In Yesterday's trading, Nifty Future opened firm and went on to make a high of 6180. In the second half it gave up all the gains made in the opening session but closed higher at 6136. With Reliance being firm one can still hope to cross 6200 level in the coming days. Reliance has to cross 1125 to provide the push for Nifty Future to go decisively above 6200.

As Nifty Future continues to make higher bottoms and also made a higher top today - though closing was little weak, I would continue to maintain upward bias. However, as matter of abundant caution, one should consider going long today above 6155 with stop loss of 6120. On higher side it will face resistance at 6180 and 6210.

I am not suggesting short position, as below 6100 Nifty Future may find support at 6085 - 6060 and 6025. Even if these levels are seen during the day, it would be better to have positive view with suitable stop loss - particularly as we are approaching FNO Settlement on Thursday.

All the best.

BTST

2010-10-25T15:26:00.001+05:30

BUY LUPIN FUT @460 SL 450 TARGET 470-490 -500

25TH OCTOBER NIFTY VIEW.

2010-10-25T09:03:00.001+05:30

In Friday's trading, after a flat opening, Nifty Future remained sideways and then went down to a low of 6058 and closed at 6090. In the opening session, it made a high of 6150 but could not cross the previous day's high of 6152.

Friday's low of 6058 should be considered as higher bottom and any buy trades for today should be taken with 6055 as stop loss. week will be FNO settlement week which could lead to higher volatility.

it will be better to consider buy trades for This week with stop loss of 6055. On higher side Nifty Future will find resistance at 6155 and 6200. If it manages to close above 6200, possibility of testing the previous top of 6336 will be very high.

Down side should be considered only below 6055 that too with 6000 giving good support. But considering the weekly candle and the strength in Reliance, it looks unlikely that more down side (i.e. below 6000) will be seen at least till FNO settlement on Thursday.

All the best.

22nd OCTOBER NIFTY VIEW

2010-10-21T22:47:00.000+05:30

On the back of strong up move in US markets, Nifty Future opened firm and after initial hesitation, gathered pace by mid session and in the last 30 mins made day's high of 6152 and closed firm at 6135. The move was largely a result of strength displayed by Reliance.

As we approach key resistance level at 6200 tomorrow, we will know whether we have more upside left or this was just a pull back rally. I would suggest it would be better to go short as Nifty Future approaches 6190 levels with stop loss of 6225. On the down side, it will have support at 6125 and 6090.

In case of weak opening, one can consider buying with stop loss of 6075. On the higher side it will find resistance at 6155 and 6190 levels.

Tomorrow's movement may be critical for the market from the weekly Point of view as well as its reaction near 6200 levels, hence we can expect above average volatility.

In case of close above 6135, we can expect Nifty Future to test the previous high of 6336 next week.

All the best.