23-09-2010 Nifty update

As i told yesterday people who have gone short below 5985 would have got at least 40 points as profit...bcoz of the strong buying and short covering happened during the closing hours helped nifty to close at a decent level on the upside...our upside target still remains at 6020 and on the downside if it breaks 5930 i'll update you with further targets...our new option strategies would be posted in tomorrow's post...from today onwards the posts would concentrate mostly on NIFTY
NIFTY upside target 1 - 6020
target 2 - 6070-6080 levels
Downside target 1 - 5930
target 2 - 5870-80 levels

Results:Today nifty spot reached till 5933, close to our target of 5930 levels

NIFTY Daily update 22-09-2010

First of all sorry for not giving you the updates bcoz of some technical difficulties.
NIFTY is in a perfectly good shape to trade and not for any kind of investment purpose.Investors should have exited their positions at 5650 - 5700 levels.
Nifty moves as if some more upside is left but it is nearing the end of a smart bull run.Nifty seems to be flirting with 600o levels for the past two days...traders can go short below 5985 levels and the upside target would around 6090 levels..If you can go short below that level the immediate target would be 5930 levels. Nifty is not considered weak until there is a sell off in the banking sector.....As i always said aftr 5650 levels it is better to have one October 5600 put position as a hedge against the downside risk and you can buy stocks for intraday....
One can exit their Reliance position at 1025- 1030 levels

09-09-2010 Daily update

NIFTY gave a surprise upmove during the final moments of the trade supported by banking stocks....especially SBI...The stock is slowly moving to the bubble zone....a little bit of consolidation happened at 2750 levels and it gave a good move till 3000 levels...the stock has added lot of buyers today too...I would like to stay away from two top stocks .. SBI and TATA steel as both are moving towards a bubble kind of zone...We had a short sell call on JSW steel today also and it would have given atleast Rs.2500+ profit ....The call was to go short below 1219 and today's low was 1205 (futures)....NIFTY's (futures) upside target still remains at 5615-5650 levels as of now...Huge volumes could be seen in banking stocks....go short on NIFTY only if comes below 5580-5570 levels....

08-09-2010 Daily update

Though NIFTY went just above our target of 5615...it managed to come down to 5580 levels...one can comfortably go short on NIFTY if it comes below 5575 with a stop loss at 5600-5606 levels....the target would be 5520 levels...yesterday's JSW steel position would have given a benefit of 4-7 points gain for traders and the position
holds for tomorrow's trade too....expect a good sell off at higher levels and the charts were not in favor of bulls for weekend closing for the past 4 weeks...
Watch for 10480 levels in Dow as it seems to be a good resistance for intraday
If NIFTY manages to come below 5585(futures closing)...NIFTY can touch 5511,5430 on the down side....5100 put position (Oct)plays a significant role at this level

07-09-2010 Daily update

Nifty was breaking all the possible targets and the uptrend continued today also
As a trader you should be cautious enough...because when everyone is happy in the market it means something is wrong 5100 put (Oct)position still holds in my trading strategy...as i mentioned in my intraday report NIFTY's short term movement reverted from 5615 ...(NIFTY futures high 5612)..as it came down from that particular point i expect a reversal of the current trend at least for a short term...but the upper channel still remains at 5650 levels for the medium term and the support area lies at 5360 ...and NIFTY's base could be shifted to 5480 levels.
I expect some selling pressure in JSW steel(futures)if it comes below 1219 (intra day)and if it breaks 1233 on the upside you can go for an intraday buy....strong short covering and buying in Reliance were the major factors which helped NIFTY to move up...todays upmove was just to sell off the existing postions in NIFTY futures as the day had lower volumes compared to other days (Nifty futures)

Disclaimer: The views and investment tips expressed in this blog is my own, and not that of any website or its management.I advise users to check with certified experts before taking any investment decisions.

07-09-2010 Intraday updates

Our medium term call JK lakshmi cement has achieved the target(read 18-08-2010 post)
Cautious at 5615 if NIFTY could reach that today...the next short term trend starts from there...

Disclaimer: The views and investment tips expressed in this blog is my own, and not that of any website or its management.I advise users to check with certified experts before taking any investment decisions.

04-09-2010 Daily Update

Nifty gave a really good rally on the upside backed by banking and metal stocks...
The stocks that i had mentioned(JSW steel and Hero honda)good movement and Hero honda was a contrarian call...the crucial level was 5540 and NIFTY could successfully surpass that level with decent volume...
NIFTY has already touched its upper channel for the short term at 5570 levels but the medium term upside target would be completed at 5650 levels....by achieving that level NIFTY could form a new trend.... I expect some selling in NIFTY tomorrow or day after tomorrow as it has already kissed the upper channel....
The downside still remains at 5360 levels as it gives a good support for the short term...As i said in my earlier posts till Dow gives a downside break out below 9925 ...the bulls are active

Trading Strategies

Buy 5100 put (Oct), When nifty is trading at 5560 - 5580 levels....
at a correction towards 5460-5480 levels you can start buying one 5700 call (Oct)
You can still buy stocks for intra day with a 5100(Oct) put position

Disclaimer: The views and investment tips expressed in this blog is my own, and not that of any website or its management.I advise users to check with certified experts before taking any investment decisions.

06-09-2010 Intraday report

Bang on!!!NIFTY achieved upside target of 5540 (read yesterday's post)
be cautious for the next move

NIFTY - Weekend report 04-09-2010

As i was telling last week ....as long as Dow gets a support at the immediate low of 9925 the uptrend is still there..but the only problem is that Dow has already completed its 5 wave counts on the upside and more upside beyond 11k seems to be impossible at this point of time...NIFTY's upside is capped at around 5540 and we could see that NIFTY would just be accumulating huge number of sellers when ever it goes up..the simple logic behind this argument is that every one is sitting at huge profits (especially pvt banks)and if an uptrend is there they would like to exit the market as it lacks some energy for a further up move....
It is a traders market..and if you like to buy some stocks ...have intra day positions with 5100 put (Oct) with you so to ensure a protective cover against your stocks
Stocks like to watch
JSW steel, Hero honda

03-09-2010 Daily update

Nifty ended flat but with good volatility...

03-09-2010 Intra day report

Be cautious of weekend selloffff in many stocks!!
cautious!!!important level to watch - 5480!!

02-09-2010 Daily updates

A dull day for the market ....at 5500 levels you could see the attack from bears...anyway the maximum up swings of the market can go upto 5533 - 5550 levels for the short term and 5615 as of now...so my strategy would be buy stocks for intraday with a 5100 put buy position...the uncertainty lies between Reliance and NIFTY and these were moving in opposite directions till now...When these two start moving in the same direction we can determine the trend

As i was telling all these days as long as 9925 is taken out for Dow ...the trend is not so weak for U S market...but the upside seems to be capped at 5533-5540 for Indian markets....
It is always advisable to go for intraday buy with 5100 put position...
Our first strategy would have ended yesterday (5300 put, 5600 call)and it had given at least 50% return to the investors....
Next strategy would be posted within a few days

01-09-2010 Daily updates

NIFTY gave a good pull back rally backed by metal sector and ICICI bank...
Reliance finally showed some strength...In reliance charts we could see some short coverings were happening and cannot be considered as new buyers have come in...As i mentioned in yesterday's blog Nifty's upside target has been achieved at 5480 and hope you have booked your profits in 5600 call positions.
If the rally continues in the days to come we could see some strength in NIFTY ...As per our trading strategies one would have benefited from 5300(put) and 5600 (call) postions....
Trading Strategies
Book full profits in JSW steel (read 18-08-2010 post) as it has already achieved our target.If NIFTY gives good movement above 5500 buy Reliance (only if it crosses 950) along with 5100 put(Oct)...
We still suspect a smart move from the bears at 5500 + levels ..Cautious!!!
The support levels for Dow still lies at 9925 levels

NIFTY 31-08-2010 Daily report

NIFTY bang on(read yesterday's post)!!!!nifty could find a support at 5360 levels(futures)and gave a good pull back rally towards 5400 levels...NIFTY would continue to be in a sell mode til 5480 is taken out on the upper side...SBI, Reliance drag nifty to 5360 levels ...and the immediate downside targets are 5360 and 5290 levels /...on the upside 5410 and 5480 levels....Hope all of you have booked good profits in your 5300 put positions...
One stock that was too tempting today was Herohonda and the way it bounced back from intraday low of 1670's to 1800 (equity) was amazing....the bounce back was supported by huge increase in volumes and it would be a good buying opportunity at 1750 levels towards an immediate target of 1840...(would be revised as per the market movements, and it is a traders stock) . If the market gives a pull back this would hit be a major gainer....only one positive factor that could move market upwards is some kind of buying happening in Reliance..but the chart is not showing any strength at all...
watch out for 9925 as intraday support for Dow Jones

NIFTY 30-08-2010 (Daily updates)

Nifty continued its weak trend ...traders used the gap up opening to initiate short positions...our next level in the down ward channel is 5360 levels. At 5360 levels nifty would complete a retracement of 23.6%...on the upside it finds strong resistance at 5450 levels....watch out for intra day support for Dow at 9925 levels...if it breaks that level we will soon see 9800 levels where it can act as a good support...

In NIFTY lot of selling is yet to happen in banking stocks and metals....book your put profits at lower levels like 5350....
initiate put positions at any good pull back to 5450 levels ....and try to book profits in your call positions as soon as possible

27-08-2010 Daily updates

NIFTY bang on!!!!after 3.00 p.m 5300 puts were up by 45%....hope all the 5300 put buyers and 5600 call writers enjoyed their profits...the bulls had a really bad day today as the premier league banking stocks fell including SBI and ICICI...
Herohonda is breaking all the support levels and now you would have realised why did i tell to book your profit in Herohonda at 1920 - 1930 levels (read my previous posts)

Trading strategies

If you already have 2 puts of 5200 or 5300 ...sell one of them and exit the next postion at 5350 - 5360 levels (if the targets are revised, i'll let you know)
wait for buying opportunuites in Hero honda...and SBI if it comes back to 2700 levels(a little bit difficult, but a deeper correction would make it possible)

26-08-2010 Daily update

26/08 F & o expiry day...market was quiet for almost 90% of the time and i would like to call it as a dull day for the bulls..but the last one hour of the session offered good short trading opportunities for JSW steel....the charts are still looking weak and people who are trading only in equity market wait for some more time for a good buying opportunity...
NIFTY might have formed a top at 5542(futures)and in the bullish channel it shows till 5650 levels as the top of NIFTY in 2010(t maximum possible level as of now if it is managed to cross the previous high at any point of time)....in the downward channel watch out for crucial levels of 5430 and 5360...at 5542 an uptrend seems to get matured on the basis of both price and time
So traders can intiate short postions at 5530 -5550 levels as the upside is capped at 5650 levels. Thus the risk:reward ratio suits for shorts and not for long positions.

Dow chart s not at all looking attractive and technical pull backs can happen in crude and dow ..but the short term trend s still in favor of bears!!!

25-08-2010 Daily update

As predicted yesterday Dow jones gave a weak closing and it can be a start of a downward trend ..and we had already predicted NIFTY got locked in t range of 5530 - 5550 (19and 20th blog) for a further up move. Instead of going for any intraday short positions it is better to have put positions that i've discussed earlier(only meant for options traders-people who are new to stock market ...ignore my options calls)....hope all the options traders have made enough money with their put positions or call writing positions....I dont encourage intraday shorts just bcoz the risk:reward ratio is less at this point of time....

Our first support still lies at 5420 - 5430 levels
and S2 lies at 5360...
Dow charts are still looking weak ...!!!cautious!!!
Stock to watch
TATA steel - start buying in small quantities at 475-480 levels with a strict stop loss at 450

24-08-2010 Daily update

It was a good day for options traders especially for 5600 call writers and 5300 put holders...as we have discussed earlier .....always have one put position to trade in equity markets(at this stage)....if u r trading only in equity market wait for a decent correction to happen...Dow is making lower lows every day and if it slips below 10 k levels..it can move towards 9800 levels where some fresh buying will happen..if that situation happens FII's would pull out money from Indian markets and invest in some cheaper markets ...Hope all of you are earning good profits with your JSW steel and Hero honda postions that you had till date and with the options calls (both 5600 call, and 5300 put)Reliance needs some more time to move up...Reliance is the major one which should lead the up move...If NIFTY creates new highs without Reliance it wont be sustainable

24-08-2010 - intraday report

US mkt charts are looking very dangerous....Dow jones seems to be going back to 9800 support levels ...if some kind of buying s not happening Dow will slip to 9800 support levels...enjoy your put positions along with the cash market positions....
Hope you booked your 75% profits in Hero honda and JSW steel
Dow seems to give a gap down opening and may slip to below 10k levels ...
cautious!!!!!dont have any fresh buy calls in equity market ....
Option traders can book partial profits in your put or call writing postions

NIFTY 23-08-2010 (Intrday report)

JSW steel !!!!gave a major breakout and all t traders who have read my blog would have got enough money through this trading!!!!book 75% profit n JSW steel!!!!

HEROHONDA made an intra day high of 1929 which is close to our medium target of 1940 (17-08-2010) blog ...start booking ur profits in HEROHONDA

NIFTY and world markets - weekend report 22 - 08 - 2010

As per the prediction NIFTY got trapped in the range of 5530 - 5550....If you wanna trade at these levels it is always advisable to trade by first exiting the banking sector stocks and move to some inexpensive sectors...The bullish channel of NIFTY remains till 5600 - 5620 levels..but dont expect it to cross that level with a good confirmation....
NIFTY is trading below its 20 day moving average.

As the futures expiry is on 26 th August and i expect some selling to happen....If you see some buyig interest you can see in RIL and that too short covering....
Dow jones is making new low's and is trading at a month's low....

Trading strategies

If you still have any positions in any stock (other than that i've already mentioned) it is always better to have one put (5200, 5300) and then trade your stock

It would be a contrary to other analysts ...but above 5650 levels i expect a bubble and if it happens banking sector would lead that....
Hope it wont happen and if NIFTY gives a good correction and form a base at 5350 -5360 levels then all s well.....

20-08-2010 - Evening report

As per yesterday's prediction NIFTY got locked in that range and could not move out of 5530 - 5550 trap....people who had bought Reliance and JK lakshmi cement would have got decent returns this week (for the new users - just see the previous blogs for t purchase price recommended) Short sellers could get enough profit for intraday...as it got stuck in that range as per the prediction....

COMING UP...Weekend reports on NIFTY and world markets..... trading strategies for the coming week

NIFTY 20 - 08 - 2010

As predicted in the early trades Reliance gave a good upmove and it helped NIFTY to form a good level in the upside. As expected SBI was in a sell and it was not giving any momentum on the upside ...u can exit bank stocks on the rise and move to some inexpensive sectors where your risk reward ratio would be better.
We expect NIFTY to get locked in the upside range of 5533 - 5550

NIFTY 19-09-2010

Market - 18 - 08- 2010

NIFTY gave a good closing for the day and if Reliance gives a good breakout on the upper side it can cross 5500 in a goodway....Reliance can give a good breakout only if the shorts are covered just before the expiry of futures on 26-08-2010

Dont buy any premier league bank stocks like SBI...and if u r still holding those positions u can book 75% of ur profits in tht....
still holds a hold position in JSW steel and JK lakshmi cement

NIFTY 18 - 08 - 2010

NIFTY was able to cross the intra day resistance of 5338 but it failed to close near that levels. Thus we remain bearish on NIFTY with a downside target of 5330 - 5350 levels.Besides that we could see lot of shorts coming in compared to the last miute short covering that we saw during the last minutes.
NIFTY is in a buy only if it could close above 5464

Stocks to watch

1.As i said in yesterday's post ..exit bank stocks and move to some inexpensive stocks
Still have a sell call on the major banking stocks like SBI
2. Enter JK lakshmi cement if it gives a good range above 59 with a stop loss of 54
Target 65 - 70 (medium term call)

3. Enter JSW steelat 1100 - 1110 levels for intraday and as a postional call
Target 1180 - 1200 (positional )
Stop loss 1080

NIFTY 17-08-2010

NIFTY is forming a kind of bearish pattern for the shoirt term...
From it prervius short term low of 4700 levels it has jumped almost 700 points and completed a 5 wave pattern..it has to retrace and i have a downside target of atleast 5330 - 5360 levels....
Trading strategies

1.Sell NIFTY futures if reaches to 5460 - 5470 levels witha stop loss of 5486
2.If you dont have any positions wait for a buying signal at 5350 levels....
3.Buy 5300 put options (Sep) and 5600(Oct) call options.

Stock Calls
1. Reliance - Buy ( 975 - 980 )levels
Target 1024 - 1030 Stop loss - 960

2. Hero honda - Buy 1850 - 1870 levels
If you are already holding this position wait for a target of 1940
stop loss 1832

3. Enter JSW steel at 1100 levels
Target 1180....
Stop loss 1070

4. Have a sell call on SBI
Book profits!!!!