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Buy Unitech Above 66.90 TG-69-71 SL-63
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Buy TCI Finance Ltd above 47 TGT-50 SL-44
Nifty Futures Trading Tips
Intraday F&O Trading Tips for 02-Dec
Buy Nifty Futures above 5,925 for target of 6,002-6,028 and stop loss 5,880.
A New Week and a New High Too … ?
Update on The Ultimate Momentum Signal – 20th Sept. 2010
Nifty futures made a phenomenal rally last week on the back of the relentless buying by FIIs. The market close was near the highs too. Now the question is whether the market will be able to sustain the last week’s run rate in this week too. Even though the Ultimate Momentum Signal system do not involve any forecasting or prediction of targets and it just keeps the positions as such until exited by the application of system rules, let’s revisit the post dated 16th September in which the immediate target was arrived at. According to the good old simple gap theory of the technical analysis, the target remains at the 4950 to 4960 area. And the market may reach the said target in the early part of the new week.
Finally, Bulls Take a Breather … !!!
Update on The Ultimate Momentum Signal – 17th Sept. 2010
Nifty futures opened at 5842, slightly lower than the previous day’s last traded price, on Thursday. As is common in strong bull markets, market immediately tried to test the previous day’s high. It reached the previous day’s high of 5875 and then started the sideways to negative trading before the monetary policy announcement by the RBI.
The RBI announced 25 and 50 basis point ( 100 basis points = 1 % ) hikes in the repo and reverse repo rates. ( Repo is the process through which RBI lends to the banks against collateral of government securities in the very short term and Reverse repo is the process through which banks can keep excess liquidity with the RBI in the very short term. )
Bull juggernaut yet to take a breather … !!!
Update on The Ultimate Momentum Signal – 16th Sept. 2010
The bull juggernaut, the possibility of which was envisaged by this blog as a mad scramble to get in to stocks if Nifty breaks above the eleven month old trading channel or another bout of irrational exuberance ( please see the posts dated 23rd Aug. and 9th Sept. 2010 ), continued on Wednesday too. The Nifty futures opened near Tuesday’s last traded price and immediately tried to test the previous day’s highs. It reached the high of 5875 before noon and traded in a narrow range to close at 5861.50 for the day. The Nifty futures have recorded gains in seven consecutive days. This raises the chances of a deceleration in the gains or a consolidation for one or two days. However, the markets may still continue to gain after the consolidation because of the very strong momentum seen in the charts.
Nifty Futures – Daily Chart
Now let’s try to calculate an immediate target to the current rally.
Time for a breather after the scorching rally .. ?
Update on The Ultimate Momentum Signal – 15th Sept. 2010
The markets had a stupendous rally in the last ten trading days. In fact the trading range of the last ten days has a span of almost 500 points. Now, the question is whether the time to take a breather has arrived ?
A Continuation of the Bull Fury or Consolidation … ?
Update for 13th September, 2010
Can the 5625 Resistance Withstand Another Bull Assault … ?
Can the 5625 Resistance Withstand Another Bull Assault … ?
On the back of negative cues from the international markets, the Nifty futures opened slightly below the previous day’s last traded price on Wednesday. After hovering near the open for a short time, the futures started the recovery. The recovery went on till around 1.00 PM when the Nifty index reached the exact high of 5625.50 it recorded the previous day. The Nifty futures, meanwhile, shrugged off it’s previous discount to break above it’s previous day’s high and reached 5624. For the second time as many trading days, the market sold off from the 5625 mark to reach the lower end of the last two trading day’s range. Another recovery ensued and finally the futures closed at 5597 for the day. Now the question is, can the resistance at the 5625 level withstand another assault by the bulls ?
Market & Nifty Futures Outlook 8th Sept 2010
Another New Yearly High, But Stiff Resistance Above 5600 … ?
After the runaway rally on Monday, the Nifty futures was expected to spend sometime for consolidation. As expected, the futures opened just above the previous day’s last traded price. It hovered just below the highs of the previous day in a two way trade mode till almost 2.00 PM in the afternoon. Then a recovery from the lower region of the day’s trading range seemed to have turned in to a strong rally resulting in the futures and the underlying index trading firmly above the previous day’s highs. To Read the Full Post Please Click Here
Market & Nifty Futures Outlook – 7th Sept, 2010
Nifty At A New 31 Month High … !!!
Here is a quote from the last post :
Market & Nifty Futures Outlook – 6th Sept. 2010
A New Week and A New Test of the Highs … ?
Last Friday’s trading in the Nifty futures was completely uneventful. The Nifty futures opened with a positive gap of 17 points at 5500. The open price also became the day’s high. From the open itself it almost became another reenactment of the previous day’s trading. The futures hovered just near the previous day’s last traded price. This has lead to a candle of very narrow range ( 30 points ) in the charts. Even though the futures broke below the previous day’s low, in the absence of a corresponding break in the underlying index no damage was done. This blog has opined many a time that a break of 10 points in the Nifty futures above or below any particular reference point is of not much consequence according to previous experience. The Nifty futures have traded in a narrow range just below the resistances for the past two trading days indicating a consolidation. As the markets all over the world have gained in the past week, another test of the highs by the Nifty future is anticipated possibly on Monday itself or in the early part of the new week. Further direction of the market seems to depend on the outcome of the test.
Market & Nifty Futures Outlook 3rd Sept. 2010
Nifty Getting Bogged Down at 5505 … ?
As expected the Nifty futures opened with a gap on the back of strong rallies across the equity markets and recorded the day’s high of 5509.90 at the opening itself on Thursday. If a market opens outside the previous day’s range, it can either trade in the direction of the opening trade, it can remain and keep on trading around the opening range or it can revisit the previous range and close the gap and trade to whichever direction from thereon. The Nifty futures seems have opted for a combination of the latter scenarios on Thursday. Therefore, the last trading session can be summarised as follows. The futures traded flat just below the open in the first half of the session, made an excursion to the previous day’s last traded value in the middle of the session, then made a test of the open value which also coincided with the5505 resistance and finally reversed from the resistance area ( at least for the time being ) and finally closed at 5483. Thursday’s trading has lead to the formation of shooting star model candles with tails placed at the top end in the charts of Nifty and Sensex, indicating selling pressure at the resistance area. Therefore, a test of the minor supports below or even the formation of lower high and more correction from thereon can’t yet be ruled out.
Market & Nifty Futures Outlook 2nd Sept. 2010
Nifty Poised to Test the Resistance at 5550 … ?
The last post on this blog had claimed that the so called subtle gap may be filled in Wednesday’s trading and the Nifty future may spend some time before attempting a test of 5465. The possibility of a covering rally above the 5465 was also hinted. Well all these have happened in the Wednesday’s trading session. As the international market have also rallied in a strong manner, Nifty futures seems to be poised for a test of the minor resistance at 5490 and thereafter the previous high of 5550.
Nifty Intraday Levels; Outlook For Tomorrow
After two days of profit bookoing today it was a cheerful day for the Indian markets which traded positively and closed with broad gains on the back of buying interest in almost all sectors following supportive global cues.
