BEEP in STOCK MARKETS -8-5-14

BAMMIDI ENTRY & EXIT POINTS in STOCKMARKETS

07-05-2014-Wednesday-OVER-VIEW: The Global markets influence and Asian markets pressure came down heavily as far as the Nifty fall is concerned. The IT sector lost more than 3-4% in Infy, HCL and other counters lost their support levels. The sector will bounce once Wipro touches 485-479 level and TCS touches 2060-45 level. Whereas INFY has more ground to lose in coming days till 2580-2640 level. The small and Mid-cap banking shares see some unwinding as mentioned earlier and it will continue.

08-05-2014: Thursday- BEEP STRATEGY in STOCKMARKETS:

The Banking lot is the one which is saving the Nifty along with the heavy weights like RIL and ONGC. The markets may see some more grinding as the Nifty. The SBI may set the direction once the results are declared. For now the markets are in Bull grip especially in banking sector.

The heavy positions in main stocks are unwinding, one such example is Relcapital which has OI of 12Lakhs at 372-75 range. The HDFC and HDFC banks are still adding OI will bring some news soon.

If Bank Nifty fails to trade above 13050-30 level is a serious correction on the cards below 12915, the OI is adding and holding….

Nifty Support at 6663 Resistance at 6693-98 Good above 6721

In Case Nifty trades below 6650 on any day will see some serious correction of more than 150points continuously without any bounce. The bounce may convert into BULL move if Nifty trades above 6720 and cross 6775

BankNifty Support 12946 at Resistance at 13074-86 Good above 13120. The BankNfty shall trade above 12900 for all good reasons said above. The RIL shall not trade below 942-44 level and ONGC shall not trade below 321 to keep BULLS happy. The SBI shall not trade below 1993 level to keep BULLS happy.

Today mostly the power counters will do well focus on RELINFRA.

The YES bank, DLF,HUL,ITC may see some bounce to get exited the trapped BULLS.