Indian Stock Markets have risen for 7 weeks in a row and normally a reaction is expected after such a long stretch but market is always supreme. RBI has already given a hint for another interest rate hike in April 20, when the RBI will meet to review its annual monetary policy. With the central bank getting uneasy about rising food and non-food prices, we foresee more such hikes over the next few months.
Treat any correction in stock prices triggered by RBI's latest and future rate hikes as healthy. These will bring valuations of good quality stocks at reasonable levels for you to buy into them.
NIFTY(Spot) above 5316 (now crucial resistance 5310 which is 2-year high) on closing basis for three consecutive days can lead market to 5500. But it is advisable to wait for clear signals and stay with CASH. CASH IS KING !!!!!!!!!!
Future (29-APR-2010): NIFTY
Price : 5296.95 Premium Rs. 23.95 (0.45%)
Turnover : 844871.00 (0.75% ) Lakh
Open Interest : 23105900 Adds 1602900 (6.94%) Shares
CE : 5000.00 (29-Apr-2010) PE : 5000.00 (29-Apr-2010)
Price : 322.55 Price : 28.75
Turnover : 12029.27 Lakh Turnover : 174181.16 Lakh
Open Interest : 846950 Open Interest : 4378700
Adds (74650.00) Shares Adds (567850.00) Shares
CE : 5100.00 (29-Apr-2010) PE : 5100.00 (29-Apr-2010)
Price : 239.90 Price : 44.50
Turnover : 31341.47 Lakh Turnover : 173955.41 Lakh
Open Interest : 1278150 Open Interest : 3536600
Sheds (-19800.00) Shares Sheds (-3800.00) Shares
CE : 5200.00 (29-Apr-2010) PE : 5200.00 (29-Apr-2010)
Price : 163.90 Price : 68.95
Turnover : 206091.24 Lakh Turnover : 427995.77 Lakh
Open Interest : 2217900 Open Interest : 4042800
Sheds (-81900.00) Shares Adds (443150.00) Shares
CE : 5300.00 (29-Apr-2010) PE : 5300.00 (29-Apr-2010)
Price : 100.90 Price : 104.90
Turnover : 629110.71 Lakh Turnover : 313120.76 Lakh
Open Interest : 3749700 Open Interest : 2572100
Adds (591600.00) Shares Adds (741650.00) Shares
CE : 5400.00 (29-Apr-2010) PE : 5400.00 (29-Apr-2010)
Price : 55.25 Price : 157.95
Turnover : 397112.70 Lakh Turnover : 25504.93 Lakh
Open Interest : 3718000 Open Interest : 403950
Adds (1259300.00) Shares Adds (148750.00) Shares
THE WEEK AHEAD:: Last week, the market closed in the positive territory with their winning streak for a successive seventh week. The weekly gains, however, were not impressed us, as market participants were seen to made their profit taking at higher levels. During the week, the Sensex moved up by around 67 points at 17,645 whereas the Nifty ended at 5283, gaining 21 points. FIIs have bought around 12,000 crores worth of equity during the current month and appear bullish on Indian markets. The market this week will be eagerly watching the sales and dispatch figures of Cement, Auto, Steel and other related Industries.
Supports to watch next week 5234 (make or break point -- ??????????) Below that 5180 is crucial for short term trend reversal. However, good OI at 5200 PE should prove to be a good support if market falls on any correction.
Trading zone for the week maybe BIG, 5150 - 5450 (probably we may see a fall OR !!!!!!!!!!!)
For MONDAY (29.03.2010) :: Buy above 5311 for a target of 5350 with stop loss of 5269 . Sell below 5290 for a target of 5256-5240 with stop loss of 5310.
WATCH RANBAXY, NMDC (IF YOU GET AT 289-290 LEVEL, GRAB IT), HDIL, RPOWER(I am holding RPOWER 150 CA) AND PUNJLLYOD (WILL BE BOUNCE BACK).
For TUESDAY (30.03.2010):: The markets hit a fresh 52 week intraday high, before closing with modest gains. The Nifty closed up 5302, up 20 points while the Sensex at 17711, up 66 points. The markets got pulled back with the rupee and IT performance. The advance-decline ratio tapered in trade today. Even volumes came in very low. The money that has left the large caps is now moving into mid and small caps. As you may have seen all those so-called experts/analysts are saying about more and more high on TV etc., now its time to exit from all long positions though Nifty futures close above 5300 level is quite bullish for the markets. The next minor resistance comes around 5350 area. Nifty futures still lacks the momentum it requires to achieve targets of 5450 – 5500. On the downside a break below the minor support of 5270 will temporary halt the short term uptrend and take the Nifty down towards the major support area of 5180 – 5200. We may see a correction upto 5200 (good support) for the time being as indicated by OI for 5200PE.
Buy NF above 5325 with a strict stoploss of 5316/5311 for a target of 5348/5350 and sell below 5306 with a strict stoploss of 5316 for a target of 5284/5281.
Ranbaxy, Punjlloyd (goes high and bounced back from higher level as expected) has done well. If anybody bought NMDC @ 289, hold and average if goes to 265/267 level for very very good profit. TRY TO LIQUIDATE ALL LONG POSITIONS.
For WEDNESDAY (31.03.2010):: The markets closed weak today, due to profit booking in the second half. The Nifty closed at 5,262 (down 40 points) and the Sensex closed at 17,590 (down 121 points). As predicted, markets is going to correct a little and probably it will get its support around 5200 level. But for tomorrow, it may end in positive note.
Buy NF above 5295 with a strict stoploss 5284 for a target of 5314-5316/5346-5348. On the downside, sell below 5268 with a strict stoploss of 5296 for a target of 5255 and 5224.
Closely watch IFCI, it may touch 55/60/62 even 70 in this month if there is any sudden news on disinvestment. In addition to this, watch MTNL (Buy above 75 for a target of 78 on intraday basis) and NMDC (Hopefully, you bought on Monday around 287-289 level, today's high is 300).
In any case, if nifty breaks down and goes below 5200 in this week, exit all long without any second thought. Traders are advised to opt for cash segment/option/future trading on these stocks as per their risk taking apetite.
For THURSDAY (01.04.2010):: In financial year 2009-10, the Sensex
rallied almost 80% and Nifty 74%. FIIs pumped nearly USD 23 billion in India's cash market. Now, NAV for mutual funds will not play for the time being. On the last day of the financial year 2009-10, market ends in red. LIC has projected around 5500 crore to invest in stock market in the next financial year 2010-11. Nifty future is at 5261.60 (Discount Rs. 12.30 i.e., 0.23%). Now the immediate support for tomorrow is 5244, 5222, 5200 and crucial support at 5180. Below 5180, panic will start. On the upper side, resistance at 5281, 5295, 5306 and 5343.
Try to follow the supporting level or resitance level. Don't trade blindly or jump to buy anything.
Better not to carry any position overnight in nifty or banknifty for the time being. Otherwise, in a fine morning, you may see a big big gap down opening.
For intraday stocks, I'll prefer IFCI around 49 for a target of 51 OR will go for 52.50 CA around 0.75-0.80 paise for a target of Rs. 1-1.10 (lot size = 7880).
In addition to this, watch BHARATI.
For FRIDAY (02.04.2010):: Indian Market will be close due to "GOOD FRIDAY
"
Treat any correction in stock prices triggered by RBI's latest and future rate hikes as healthy. These will bring valuations of good quality stocks at reasonable levels for you to buy into them.
NIFTY(Spot) above 5316 (now crucial resistance 5310 which is 2-year high) on closing basis for three consecutive days can lead market to 5500. But it is advisable to wait for clear signals and stay with CASH. CASH IS KING !!!!!!!!!!
Future (29-APR-2010): NIFTY
Price : 5296.95 Premium Rs. 23.95 (0.45%)
Turnover : 844871.00 (0.75% ) Lakh
Open Interest : 23105900 Adds 1602900 (6.94%) Shares
CE : 5000.00 (29-Apr-2010) PE : 5000.00 (29-Apr-2010)
Price : 322.55 Price : 28.75
Turnover : 12029.27 Lakh Turnover : 174181.16 Lakh
Open Interest : 846950 Open Interest : 4378700
Adds (74650.00) Shares Adds (567850.00) Shares
CE : 5100.00 (29-Apr-2010) PE : 5100.00 (29-Apr-2010)
Price : 239.90 Price : 44.50
Turnover : 31341.47 Lakh Turnover : 173955.41 Lakh
Open Interest : 1278150 Open Interest : 3536600
Sheds (-19800.00) Shares Sheds (-3800.00) Shares
CE : 5200.00 (29-Apr-2010) PE : 5200.00 (29-Apr-2010)
Price : 163.90 Price : 68.95
Turnover : 206091.24 Lakh Turnover : 427995.77 Lakh
Open Interest : 2217900 Open Interest : 4042800
Sheds (-81900.00) Shares Adds (443150.00) Shares
CE : 5300.00 (29-Apr-2010) PE : 5300.00 (29-Apr-2010)
Price : 100.90 Price : 104.90
Turnover : 629110.71 Lakh Turnover : 313120.76 Lakh
Open Interest : 3749700 Open Interest : 2572100
Adds (591600.00) Shares Adds (741650.00) Shares
CE : 5400.00 (29-Apr-2010) PE : 5400.00 (29-Apr-2010)
Price : 55.25 Price : 157.95
Turnover : 397112.70 Lakh Turnover : 25504.93 Lakh
Open Interest : 3718000 Open Interest : 403950
Adds (1259300.00) Shares Adds (148750.00) Shares
THE WEEK AHEAD:: Last week, the market closed in the positive territory with their winning streak for a successive seventh week. The weekly gains, however, were not impressed us, as market participants were seen to made their profit taking at higher levels. During the week, the Sensex moved up by around 67 points at 17,645 whereas the Nifty ended at 5283, gaining 21 points. FIIs have bought around 12,000 crores worth of equity during the current month and appear bullish on Indian markets. The market this week will be eagerly watching the sales and dispatch figures of Cement, Auto, Steel and other related Industries.
Supports to watch next week 5234 (make or break point -- ??????????) Below that 5180 is crucial for short term trend reversal. However, good OI at 5200 PE should prove to be a good support if market falls on any correction.
Trading zone for the week maybe BIG, 5150 - 5450 (probably we may see a fall OR !!!!!!!!!!!)
For MONDAY (29.03.2010) :: Buy above 5311 for a target of 5350 with stop loss of 5269 . Sell below 5290 for a target of 5256-5240 with stop loss of 5310.
WATCH RANBAXY, NMDC (IF YOU GET AT 289-290 LEVEL, GRAB IT), HDIL, RPOWER(I am holding RPOWER 150 CA) AND PUNJLLYOD (WILL BE BOUNCE BACK).
For TUESDAY (30.03.2010):: The markets hit a fresh 52 week intraday high, before closing with modest gains. The Nifty closed up 5302, up 20 points while the Sensex at 17711, up 66 points. The markets got pulled back with the rupee and IT performance. The advance-decline ratio tapered in trade today. Even volumes came in very low. The money that has left the large caps is now moving into mid and small caps. As you may have seen all those so-called experts/analysts are saying about more and more high on TV etc., now its time to exit from all long positions though Nifty futures close above 5300 level is quite bullish for the markets. The next minor resistance comes around 5350 area. Nifty futures still lacks the momentum it requires to achieve targets of 5450 – 5500. On the downside a break below the minor support of 5270 will temporary halt the short term uptrend and take the Nifty down towards the major support area of 5180 – 5200. We may see a correction upto 5200 (good support) for the time being as indicated by OI for 5200PE.
Buy NF above 5325 with a strict stoploss of 5316/5311 for a target of 5348/5350 and sell below 5306 with a strict stoploss of 5316 for a target of 5284/5281.
Ranbaxy, Punjlloyd (goes high and bounced back from higher level as expected) has done well. If anybody bought NMDC @ 289, hold and average if goes to 265/267 level for very very good profit. TRY TO LIQUIDATE ALL LONG POSITIONS.
For WEDNESDAY (31.03.2010):: The markets closed weak today, due to profit booking in the second half. The Nifty closed at 5,262 (down 40 points) and the Sensex closed at 17,590 (down 121 points). As predicted, markets is going to correct a little and probably it will get its support around 5200 level. But for tomorrow, it may end in positive note.
Buy NF above 5295 with a strict stoploss 5284 for a target of 5314-5316/5346-5348. On the downside, sell below 5268 with a strict stoploss of 5296 for a target of 5255 and 5224.
Closely watch IFCI, it may touch 55/60/62 even 70 in this month if there is any sudden news on disinvestment. In addition to this, watch MTNL (Buy above 75 for a target of 78 on intraday basis) and NMDC (Hopefully, you bought on Monday around 287-289 level, today's high is 300).
In any case, if nifty breaks down and goes below 5200 in this week, exit all long without any second thought. Traders are advised to opt for cash segment/option/future trading on these stocks as per their risk taking apetite.
For THURSDAY (01.04.2010):: In financial year 2009-10, the Sensex
rallied almost 80% and Nifty 74%. FIIs pumped nearly USD 23 billion in India's cash market. Now, NAV for mutual funds will not play for the time being. On the last day of the financial year 2009-10, market ends in red. LIC has projected around 5500 crore to invest in stock market in the next financial year 2010-11. Nifty future is at 5261.60 (Discount Rs. 12.30 i.e., 0.23%). Now the immediate support for tomorrow is 5244, 5222, 5200 and crucial support at 5180. Below 5180, panic will start. On the upper side, resistance at 5281, 5295, 5306 and 5343. Try to follow the supporting level or resitance level. Don't trade blindly or jump to buy anything.
Better not to carry any position overnight in nifty or banknifty for the time being. Otherwise, in a fine morning, you may see a big big gap down opening.
For intraday stocks, I'll prefer IFCI around 49 for a target of 51 OR will go for 52.50 CA around 0.75-0.80 paise for a target of Rs. 1-1.10 (lot size = 7880).
In addition to this, watch BHARATI.
For FRIDAY (02.04.2010):: Indian Market will be close due to "GOOD FRIDAY
"
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