Intraday NIFTY Updates for Today 06 Dec. 2012

The Nifty continued its sideways price action, another day of consolidation. And as I have been suggesting all declines would be bought into hence they would be shallow declines. We are on course towards 5,950 and higher towards 6,150. 

Nifty Future closed at 5,940.45 with a doji candle. Candle pattern implies indecision, however trend suggests it is in a strong up-trend. It closed just around 5,940 level and we believe a sustainable movement above this level would trigger fresh longs that would take it towards 6,005 and 6,180 as discussed. We expect market to open on a positive note due overnight policy amendment, so hold long and trade with a positive bias is advisable. 

The Sensex has supports at 19,350 and 19,250 and resistances at 19,450 and 19,550. The Nifty spot has supports at 5,870 and 5,850 and resistances at 5,930 and 5,950.

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Nifty Market Chart & Update For 10 Oct 12

                                                           MARKET OUTLOOK                                                        

On daily chart Nifty exhibiting “descending triangle” which is bearish breakout pattern if lower trend line breaks.  Price is now near to lower trend line, and moving  within triangle. Nifty next resistance seems at 5,760 while support at 5,650 if nifty breaches 5,760 then we could see rally up to 5,800 on the flip side if the level of 5,650 breaches decisively then we could see fall up to strong support of 5,600.

                 Further most of the technical momentum indicators are currently suggesting downside. Stochastic is currently moving in overbought zone, on the brink of entering into negative territory indicating profit booking. RSI is reversing back after touching overbought zone and indicating more correction is due in near term. MACD is crossing 9 day EMA from the above and showing negative divergence, also indicating Nifty is in profit booking zone.

               It was largely a volatile session for the market on Tuesday. In fact, Nifty touched an intraday low of 5,677.90, before closing with gains of 28.60 points at 5,704.60. But the bouts of profit booking due to Euro zone concerns and worries over fiscal deficit sent the index, in the second half of trade, closer to previous day’s closing value.

                                                     3 MONTHS DAILY CHART OF NIFTY

                                                SHORT TERM OUTLOOK ON STOCKS

Stocks with short term Bullish Outlook:

STOCK                                                      S1                   S2               R1                    R2

ULTRATECH CEMENT                        2019.47          1982.58       2078.57            2100.78

LARSEN                                                 1614.17           1595.53      1646.47             1660.13

Stocks with short term Bearish Outlook:

STOCK                                                     S1                     S2               R1                    R2

GAIL                                                        375.47             369.88         390.22             399.38

BHARTI AIRTEL                                     262.12             258.93         270.62             275.93

                                                               NEWS TO WATCH

1. Infosys September-quarter profit seen up 24.9%

2. Quarter-2 production of Cairn India up 22% YoY

3. NMDC cuts iron-ore price by 2-11% for October; will set prices every month.

4. IMF cuts India growth forecast to 4.9% from 6.2%

5. Bad days ahead for DLF, downward trending for two days.

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Todays Nifty Future and Option Tips

NIFTY Futures Tips

The NIFTY is the most liquid Futures instrument traded on the Indian Bourses. It is suitable for trading for the Retail as well as the HNI traders. This segment also includes calls on the Bank NIFTY.This is primarily an Intraday product is designed to capture Intraday swings in the NIFTY the BANK NIFTY A FREE TRIAL of two days is given so that Traders can verify the facts for themselves. 

Product contents:

• 15-20 NIFTY FUTURE Tips per calendar month are given in the NIFTY Futures or BANK NIFTY Futures.
• The NIFTY FUTURE calls are designed to capture 25-60 points intraday swings with a 20-30 point stop loss.
• The BANK NIFTY FUTURE calls are designed to capture 100-200 points intraday swings with 50-100 point stop loss.
• All levels are based on the Futures price unless specified otherwise.
• Follow up of all Live calls.
• Pre Market opening message of overnight World Market trends and SGX NIFTY updates.
• Pre Stock Market NIFTY view alongwith Support Resistance levels for the NIFTY.
• A Daily Trading Note is provided on a complementary basis.
• Complete Support On Live Chat and/or Telephone.

Follow ups:

• NIFTY FUT DEC 4592 INTRADAY LONG CALL INITIATED.
• NIFTY FUT DEC 4628 BOOK FULL PROFITS ON OUR INTRADAY LONG CALL AT 4592 LEVELS.
• BANK NIFTY DEC FUT CMP 8300 RISK AVERSE TRADERS TAKE PART PROFITS ON OUR SHORT CALL AT 8370 LEVELS. OTHERS TAKE PART PROFITS AND TRAIL TO COST FOR BFP 8250.
• BANK NIFTY DEC FUT CMP 8260 BOOK FULL PROFITS ON OUR INTRADAY SHORT CALL AT 8370 LEVELS BPP DONE AT 8300 LEVELS.

NIFTY Options Tips

NIFTY Options are the most liquid options in the Indian stock markets. The combined volumes of the various NIFTY option strikes form the major part of the traded volumes in the total volumes. This is a product for the savvy Option trader. Trading in options in a disciplined manner is one of the safest ways of trading in the volatile and wild swinging markets. Trading in Options is also cheaper compared to trading in the Futures segment in terms of the Brokerage and statutory charges. This product is designed for traders and Investors who want to profit from the directional moves the NIFTY and Bank NIFTY through simple Buying and Selling of Options.

A FREE TRIAL of two days is given so that Traders can verify the facts for themselves. 

Product contents:

• 15-25 Tips per calendar month are given in the NIFTY Options.
• The product is a combination of Positional and Intraday Tips on the NIFTY Options.
• The Tips are plain Buy or Sell Calls.
• Follow up of all Live calls.
• Pre Market opening message of overnight World Market trends and SGX NIFTY updates.
• Pre Market NIFTY view alongwith Support Resistance levels for the NIFTY.
• A Daily Trading Note is provided on a complementary basis.
• Complete Support On Live Chat and/or Telephone.

Follow ups:

• NIFTY 4800 CALL CMP 41 BOOK FULLPROFITS ON SHORT CALL AT 48 LEVELS.
• NIFTY JAN 5000 CALL CMP 72 TAKE PART PROFITS ON OUR LONG CALL AT 58.50 LEVELS TRAIL SL TO 65 FOR BFP 85.
• NIFTY JAN 5000 CALL CMP 80 BOOK FULL PROFITS ON OUR LONG CALL AT 58.50 LEVELS BPP DONE AT 72 LEVELS.

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Nifty is likely to move within 5,600 to 5,700 level. : Upadte for 28th sept.

MARKET OUTLOOK

Nifty is expected to move within a range as suggested by its technical indicators. 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 68 level on the verge of showing negative crossover, 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.

SHORT TERM OUTLOOK ON STOCKS


Stocks with short term Bullish Outlook:
STOCK                                              S1             S2                  R1                 R2
HCL TECH                                      569.43       555.42           593.18           602.92
LARSEN                                         1575.05     1551.95         1612.7          1627.25

Stocks with short term Bearish Outlook:
STOCK                                             S1             S2                   R1                 R2
SAIL                                              84.13          82.62              88.03             90.42
SESA GOA                                  166.5          163.25            175.2             180.65


NEWS TO WATCH


1. General Motors to hike prices form 1stOctober
2. United Spirits up 9%, at 20-month high on stake sale hope
3. FinMin, RBI officials to meet today on H2 borrowings
4. Cement shares extend Wednesday's gains on hopes of rising demand

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Today's Tip ,26th sept. : Nifty is Likely to be Range Bound

Nifty managed to recover some ground in the last session and closed above 5,670 psychological level. From here, 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 stand 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.The Volatility Index (VIX) declined significantly to 17.11% at end of the day. Decrease in VIX indicates Nifty is likely to trade with positive bias in initial hours of next days' trade. Volatility has a strong inverse correlation with markets. The put-call ratio of open interest declined on the last day of the week, butclosed below from the previous week at 0.99 levels. The options concentration has shifted to the 5,700 Call option.

SHORT TERM OUTLOOK ON STOCKS


Stocks with short term Bullish Outlook:
STOCK                                                S1                S2              R1                 R2
KOTAK MAHINDRA                     628.57          616.03        648.82          656.53
BHEL                                                245.53          237.37        258.93          264.17

Stocks with short term Bearish Outlook:
STOCK                                               S1                 S2              R1                  R2
JINDAL STEEL                                415.9            406.75         440.1            455.15
CAIRN INDIA                                 324.17           314.58        342.17           350.58

NEWS TO WATCH


1.  Goldman Sachs projects 18% return in next 12 months.
2.  Foreign Institutional Investments rains in September, Rs. 9000 crore.
3.  Rating agency cut Standard & Poor has lowered India’s GDP growth forecast to
      5.5% from 6.5% earlier.
4. Government lines up slew of reforms to attract foreign capital and to accelerate
     capital market.

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Stock Market Trend for Today

Today Stock market trend: Nifty Future and Option Tips

Today early Morning Nifty fall in 20 point and recover it slowly now 5350.55, may hope it will become and provide good rally for investor so that is time to invest  on market ,because  Germany's constiutional court will approve of ESM then  global effect of market automatically and for the economical growth. Indian government may take few decision so the all of effect on market , we hope market will go upwards 5450 end of this month, so that is best time to invest in nifty future , that will provide you more return in the market.

Leading stocks for Today:
Cipla, Bajaj corporation Limited, alembic Pharmaceutical Limited  is more gainer you can trade on it

Calls for today you can watch and trade:

OPTION CALL : BUY SESA GOA 170 PUT ABOVE 12 TARGET 13,14,15 STOPLOSS 10.
CALL BUY TIMKEN INDIA ABOVE 200 TARGETS 202 , 204 , 207 STOPLOSS 196.

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