NIFTY OUTLOOK - Market Updates for Today 21 Dec. 2012

The Nifty started to correct some time midday and I got the feeling that we might see a deeper correction, but as usual buying came in at lower levels and drove up the Nifty again. I get the feeling we need a trigger event to break past this 5,950-6,000 zone and until that does not happen we will trade sideways or correct to 5,800 levels. 

Trend deciding level is 5,920. If Nifty shows strength above 5,920 levels, then rally to 5,950/6,000/6,050 may be seen. If Nifty does not show strength above 5,920 levels then selling pressure till 5,880/5,840/5,800 may be seen.     

The Sensex has supports at 19,350 and 19,200 and resistances at 19,510 and 19,620. The Nifty spot has supports at 5,880 and 5,838 and resistances at 5,940 and 5,965.

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Nifty Intraday Updates for Today 20 Dec. 2012

The Nifty traded in a narrow range after opening gap up, the good thing was it held the gap. The view is still positive and once we break 5,950 - 5,960 we could see 6,100 then. 

Nifty Future ended at 5,946.90 with a small spinning top candle. Movement suggests resistance on higher band of the market around 5,990-6,000, so cautious stance needs to be taken. 

The Sensex has supports at 19,410 and 19,300 and resistances at 19,520 and 19,620. The Nifty spot has supports at 5,905 and 5,875 and resistances at 5,940 and 5,965.

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NIFTY OUTLOOK - Market Updates Today 19 Dec. 2012

The Nifty is broadly range bound between 5,840 and 5,930, it keeps consolidating between this range and we see stock specific action in the midcap or certain sector specific stocks. The Nifty is correcting slowly and buying is coming in at lower levels, hence until we are above 5,840 traders should have a positive bias.

Nifty Future closed on positive note after last few days of consolidation at 5,860 level. It finished off at 5,928.90 at highest point of the day with a long legged hammer kind of candle.

The Sensex has supports at 19,270 and 19,150 and resistances at 19,500 and 19,620. The Nifty spot has supports at 5,875 and 5,840 and resistances at 5,935 and 5,965.

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NIFTY Updates for Today 18 Dec. 2012

The Nifty is broadly range bound between 5,840 and 5,930, it keeps consolidating between this range and we see stock specific action in the midcap or certain sector specific stocks. The Nifty is correcting slowly and buying is coming in at lower levels, hence until we are above 5,840 traders should have a positive bias, as I said on all declines the market is being bought into and on the weekly time frame the markets are looking very bullish.   

Nifty Future remained in a narrow trading band of 20-30 points and finally closed at 5,889.35 with a small black body candle. It is trying to find a base around 5,860 level and on the flip side it is facing tough resistance on the rise in the band of 5,930 level. 

The Sensex has supports at 19,190 and 19,080 and resistances at 19,350 and 19,480. The Nifty spot has supports at 5,838 and 5,800 and resistances at 5,885 and 5,925.

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NIFTY OUTLOOK - Market Updates Today 17 Dec. 2012

Technically, Nifty future has moved back above 5,900 mark keeping traders clueless for the next session. Nifty Future entered back into 5,900 - 5,950 trading zone and a breakout only will set the near term trend. Above 5,950 level, Nifty future will test 6,000 mark whereas below 5,900 level it can slip back to 5,830 - 5,800 levels respectively.

For today's trade, Nifty is likely to trade in the range between 5,900 - 5,920 in the upper side and 5,860 -5,840 in the lower side. We expect 5,950/5,980 to act as intermediated resistance and 5,870/5,820 as support.

The Sensex has supports at 19,200 and 19,080 and resistances at 19,420 and 19,490. The Nifty spot has supports at 5,838 and 5,800 and resistances at 5,910 and 5,935.

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NIFTY Updates for Today 13 Dec. 2012

The Nifty had another day of consolidation and we still are trading above 5,840 level until which we should have a positive bias, and hence I suggest holding long position to those who have created longs at lower levels as we are on course towards 6,000 and more. For today's trade, Nifty is likely to trade in the range between 5,920 - 5,945 in the upper side and 5,870 - 5,850 in the lower side.

The Sensex has supports at 19,280 and 19,190 and resistances at 19,480 and 19,610. The Nifty spot has supports at 5,865 and 5,830 and resistances at 5,925 and 5,965.

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NIFTY OUTLOOK - Market Updates Today 07 Nov 2012

The Nifty continued to trade in the narrow range of 5,680 to 5,710 for most of the session however in the last hour of trade we got a positive up move with the Nifty closing at the high of the day at 5,724. I still hold a positive bias on the market and am holding on to my Bank Nifty longs for the last 3 days expecting an upward breakout. We could see levels of 5,800 maybe even 5,900 if 5,730 is taken out with force.   

Markets are expected to open on flat note in today session but will see buying support at lower levels. Overall markets are stuck in broad range of 5,580-5,780 and any breakout of this range on either side will further set the direction of the indices.

The Sensex has supports at 18,750 and 18,620 and resistances at 18,910 and 19,050. The Nifty spot has supports at 5,690 and 5,665 and resistances at 5,750 and 5,780.

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NIFTY OUTLOOK - Market Updates Today 01 Nov 2012

The Nifty traded in a 30 point range before giving a weak breakout on the upside. We could see a range bound Nifty in the coming days which may not give us clear moves. On the lower side, 5,580 - 5,550 are good support areas and on the higher side, 5,650 - 5,680 are resistances.

Nifty Future touched its crucial hurdle of 5,650 in the last hour of the trade and closed just below that level at 5,646.10 with a small white body candle pattern. Traders are recommended to trade with a negative bias till the time it is trading below its previous range. We expect support at 5,580 and 5,530 levels and on the upside it is likely to remain capped near 5,725. Overall, we expect a new trading band for coming trading session. However, it is too early to predict.

The Sensex has supports at 18,450 and 18,370 and resistances at 18,580 and 18,660. The Nifty spot has supports at 5,580 and 5,545 and resistances at 5,650 and 5,680.

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Today's Updates :Nifty is Likely to be Range Bound (27sept.).

Nifty is expected to move within a range as suggested by its technical indicators. Also, a high volatility is
expected to be the order of the week ahead of F&O expiry. Resistance for Nifty now seems at 5,720-
5,740 while support stands at 5,540-5,560. On upside if level of 5,720 breaches decisively then we could
see rise up to the mark of 5,800, on the lower side if level of 5,540 is breaches then Nifty could retrace
up to support of 5,500 mark. Technical indicators like MACD, RSI are also supporting its uptrend move.
MACD is showing positive divergence, crossing its signal line (9 Days exponential moving average) from
the below. RSI is at 70 level with positive divergence, which indicates positive bias may expect in the
market.
On the derivatives front the Nifty Futures prices inclined along with incline in the open interest with
incline in cost of carry indicating long position initiated at the lower level. For the coming days, 5,640-
5,650 level would act as the strong support for Nifty. There was significant short accumulation was
witnessed in ATM Put option. Most of the open interest accretion witnessed in the 5,700 put. On the
flip side squaring off was seen between 5,700 and 5,800 strike Call Option which suggests a range of
5,650-5,750 for September expiry.




                                                3 MONTHS DAILY CHART OF NIFTY

    NEWS TO WATCH TODAY


1. Gold importers stay away as prices recover
2. Cement industry is on a high, Ambuja Cement and ACC top gainers almost 4%
3. PTC, Lanco, Adani to gain from SEB restructuring.
4. Expect weekly rise or fall in Petrol prices.

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Today's Future and Option tips : 25th sept

Indian stock market consolidated today, open with positive index today, Nifty is now in a very narrow range, nifty may move 5,710 on the upside and 5,660 on the downside, do not show big movement today. So, a move above 5,700 or below 5,660 should give an intraday trading opportunity. But today we alert for future and option trading.
Nifty support today 5660,5640 Resistance Level 5700, 5720

Today  trading tips:
Buy Cipla Limited target 367 stops loss 360 in nifty future.
Sell DLF Limited target 230 stops loss 234 in nifty future.
Sell Bharti Airtel Target 272 stop los 276 in nifty future.
Sell Siemens Limited Target 709 stop loss 713 in nifty future
Buy TCS Limited target 1320 stop loss 1296 in nifty future

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