The markets showed a beautiful up move beyond expectation. I was under the impression of down ward move as the other markets correcting. But technically the market did not trade below 4349 even foe 5 minutes, saved me from my shorts.
The day went long enjoying the up move with out participation. The techs moved very well as anticipated Satyam made a run-up after 473-475 level to 490+ (read 4th July post) and likely to touch 520-30 range. TCS above 1129, Infosys above1935 are strong but I made no money as I was expecting a correction any time.
I made my shorts in RIL below 1713 level, SBI below 1549-46 level. Once the levels crossed waitng for a chance that did not turned except in RIL. The greatest regret is I could not believe the up move and failed to take delivery in Satyam. After all it is the beauty and greatness of the market.
Saturday, July 07, 2007
Friday, July 06, 2007
The red spread across the world?.
The world indices are in red, so we can be no exception at least for this day.
The Nifty may not cross 4363-65 levels and may test 4291-93 as the volatility increased from yesterday. The low should below 4342 and it should trade below 4349 levels for the first half an hour to confirm the above condition. The major supporters like RIL shall not trade above 1714-15 level and low should below 1703, SBI shall not trade above 1553-56, low shall register below 1539, ICICI high shall not touch 1011-13, RCOM low shall register below 539.
The run-up in the autos may take a halt and the reality correction will continue. The UBS positive rating on Tata Steel will help it to stay above 608-09 levels and will advance further in future. The long-term del. holders shall prune their del. positions more than 50%, as already requested to off- load by 50%.
The Nifty may not cross 4363-65 levels and may test 4291-93 as the volatility increased from yesterday. The low should below 4342 and it should trade below 4349 levels for the first half an hour to confirm the above condition. The major supporters like RIL shall not trade above 1714-15 level and low should below 1703, SBI shall not trade above 1553-56, low shall register below 1539, ICICI high shall not touch 1011-13, RCOM low shall register below 539.
The run-up in the autos may take a halt and the reality correction will continue. The UBS positive rating on Tata Steel will help it to stay above 608-09 levels and will advance further in future. The long-term del. holders shall prune their del. positions more than 50%, as already requested to off- load by 50%.
Thursday, July 05, 2007
The Bulls fight fierce, before they yield?.
The very nature of the fight at the top can be seen at the high of its spirits to trigger all stop-losses on both sides. The power fight can be clearly observed on the streets for the last 4-5 trading sessions. Can the China red-effect percolate tomorrow to us ?.
The DLF brought much needed relief to bulls and sentiment as it could trade above the issue price in spite of many negative views. The sentiment is in favour of bulls but stock specific action can be seen, as there was no run-up but up move for those who hold for some time if not for delivery.
FOLLOW UP : The RIL could not trade above 1721 came down to support level @1683-1681 levels, the same is with SBI, could not trade above 1566, the RCOM traded below 539 brought it to 526 level but bounced back to 552. The Strength in ICICI, bottom support of ONGC and bounce back of RIL from lows brought Nifty to 4355 levels.
The DLF brought much needed relief to bulls and sentiment as it could trade above the issue price in spite of many negative views. The sentiment is in favour of bulls but stock specific action can be seen, as there was no run-up but up move for those who hold for some time if not for delivery.
FOLLOW UP : The RIL could not trade above 1721 came down to support level @1683-1681 levels, the same is with SBI, could not trade above 1566, the RCOM traded below 539 brought it to 526 level but bounced back to 552. The Strength in ICICI, bottom support of ONGC and bounce back of RIL from lows brought Nifty to 4355 levels.
The momentum paused!
The stocks are consolidated before they make good move. The correction is due as the prices reached high in relative terms. The market has become more stock specific and the moves are either side triggering stop-losses. The RIL, SBI and Relcap performed but failed in ICICI and Siemens failed. The autos presented a different move than the anticipation. The ICICI bank, ACC, Guj.Ambuja and Reliance are holding the Nifty above 4350 levels with support from RCOM. The cements and textiles made their up moves.
The Nifty has support at 4312-15 and the bear pressure can be absorbed at 4293-91 levels. The RIL is just above the crucial support at 1711-1713, SBI good above 1551-49.The up move in the last hour in ICICI brought it to bulls grip has good support at 946-945. The Tata Steel builds the bottom support at 601-603.
I prefer long in ONGC above 881, RIL above 1721 and SBI above 1566. In case of bear move, go short RCOM below 539, Tata steel below611.
The Nifty has support at 4312-15 and the bear pressure can be absorbed at 4293-91 levels. The RIL is just above the crucial support at 1711-1713, SBI good above 1551-49.The up move in the last hour in ICICI brought it to bulls grip has good support at 946-945. The Tata Steel builds the bottom support at 601-603.
I prefer long in ONGC above 881, RIL above 1721 and SBI above 1566. In case of bear move, go short RCOM below 539, Tata steel below611.
Wednesday, July 04, 2007
The frontline stocks are high!
The Nifty and Sensex reached to a level to correct which is good as I posted new blood will be infused.
The Nifty has good support at 4293-1 levels for this day. The RIL showing bottom support at 1701-03 but the high has to cross 1712 and trade above 1708 to confirm the up move. The SBI and Relcap may correct along with ICICI. Infy may cross 1955 if the low above 1939, even touch 1981-83 level. Above 473-75 level Satyam is good for a up move to cross 500, one can try for delivery.
Tata Motors has good support at 759 but today it may correct, Maruti and M&M may follow. Siemens ripe for short sell, stoploss at 1418-17 level. Zee is building bottom may cross 325-330 level soon.Those who are short in Hindalco may cover now.
The Nifty has good support at 4293-1 levels for this day. The RIL showing bottom support at 1701-03 but the high has to cross 1712 and trade above 1708 to confirm the up move. The SBI and Relcap may correct along with ICICI. Infy may cross 1955 if the low above 1939, even touch 1981-83 level. Above 473-75 level Satyam is good for a up move to cross 500, one can try for delivery.
Tata Motors has good support at 759 but today it may correct, Maruti and M&M may follow. Siemens ripe for short sell, stoploss at 1418-17 level. Zee is building bottom may cross 325-330 level soon.Those who are short in Hindalco may cover now.
Monday, July 02, 2007
Long wait completed!
The viewers might have read the previous posts in which I clearly mentioned that the market would fall only when Sensex crosses the previous high. Now this event became History.
The market moved by capital goods, banks and telecom. It is likely that the Nifty would get good support at 4178-81 levels. If we read the history, the Nifty has been trading above 4140 levels for the lost 40 trading sessions. So it is not that much easy for bears to crack the foundation so easily unless there is a drastic change in the economic/political situation. So enjoy in the profits in Mid-cap movers of media, telecom and this time on reality. There was no change in the frontline stocks except in ONGC and SBI.
The market moved by capital goods, banks and telecom. It is likely that the Nifty would get good support at 4178-81 levels. If we read the history, the Nifty has been trading above 4140 levels for the lost 40 trading sessions. So it is not that much easy for bears to crack the foundation so easily unless there is a drastic change in the economic/political situation. So enjoy in the profits in Mid-cap movers of media, telecom and this time on reality. There was no change in the frontline stocks except in ONGC and SBI.
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