momentum to continue...

Yesterday nifty closed at 2979 taking intra day support from 2900.

A good signal for our expectation. 

Now markets have to move up at least by taking previous day lows as support.

I have no view for down side at least for two weeks.

A strong resistance will be at 3300.Down swing may be up to 3150.

2800 nifty support range.

Yesterday nifty took support at 2813, bounced up and closed at 2922, means a very good support. It clearly indicates the chances of rise what we are expected.  News is also being cooked. Now, nifty has to sustain the support at 2900 range and go ahead. This means our targets for nifty 3100-3200-3350 and above still holds good.  In one way the markets may not fall in January and even in February. 

major support broken...

While correcting the  market for December series settlement a major support 2916 was broken by closing nifty at 2857. Hence the upper level predictions are not expected as of now. But as the predictions are based on the expected news development we have to wait and see the trend of the market.  Long expectations will get hope only after nifty crosses 2920 once again.   If nifty brakes 2770  the only trend is to down side and there may be a new low expectations. Major expected events to down side: War and Global negatives. Up side the 2 nd stimulus package, oil price cut, news of elections & packages and operator's  need for exit at higher levels.

NIFTY ON SUPPORT LINE

Now after touching 50 dma nifty is at 20 dma 2916.. If it takes support the most probable target will be 3350. Required news will be issued by some authorities suitably. A curtain raiser for major trap rally?..

SETTLEMENT PRESSURES...

Trading on previous day shows bullishness nature in the markets. Though markets may swing up wards  for the next settlement we may see some shrinking for settlement in the range nifty 3250-2900. Hence one may trade accordingly. The rise before markets test low 2900-3000 will be only 3250 +/- 30. After this correction one may take longs in nifty after checking the international news...

Bullish.....

Support of nifty 2922 that took today is a clear cut signal for more strength to come in the next 2 to 3 weeks. A very strong closing. Corrections may be intermitent but rally up to nifty 3550 - correction - 3750 - 3800 - 3850.. For the next settlement. Later ..... Super --vity.

SHIFTING CORRECTION?...?

I feel the fall yesterday as shifting correction till the level nifty 2860 and markets may bounce for settlement from Friday's second half.  Closing may be around nifty 3000. But the chances of bullishness nature for the first week of next month is still + ve.  

SATYAM EFFECT ON NIFTY???

Abrakadabra... In the disturbing economic world every one is suffering from analysis but in between we are seeing the episode of satyam comp (buying its promoter's other company at the angry of mutual fund holders). ADR satyam is falling above 50%... then what about satyam share tomorrow?... All things are bullish even now.  OI data is + ve. Global cues + ve. Then if markets take a jerk because of satyam.. it is a great chance for call buyers... enjoy from the fall by buying calls even for this month or for next month. There is a chance of crossing nifty first 3200 and then for the next month 3500-3550.  Think for super shorts at that level in the next month.  Let us enjoy satyam episode tomorrow.

Update in the next morning...

AND AT LAST SATYAM CANCELS ITS DEAL !!! & Fed cuts its rate to min. levels. Bullish.. Bullish..Bullish..

a small dip??

Now, stochastic, rsi, mfi are showing over bought signal and so our markets may take a small dip at this level. But as there is no major change in open interest, and some package news to follow from our govt, we may stick on to the view of bullish closing for this settlement. Hence, one may wait or take calls at lower levels if so markets may close above 3000 nifty for this month. 

BULLISH TO CONTINUE FOR NEXT MONTH....???

I took a bullish view for the next month first two weeks and even to this month settlement may be in bullish nature after a considerable correction in the 2nd part of week. This may a last trap rally for small and medium term investors (who are with money on side ways for bottom fishing).  This rally swallows small investors' money and markets will go for bottom out which may be a prolonged slow bare phase.  This may be for one to 1 & half years.  

Levels for this rally may be seen from the chart. Monday and tuesday may be bullish and next bearish but later week market will be bullish and closing may be above nifty 3000-3200.

bullishness to continue...

5 day charts shows that the rising speed is disappeared but the support trend line is still intact. FII data is bullish. Global cues are - ve. short only if nifty breaks 2880 else take it as an opportunity for going long.

RESISTANCE CROSSED

Yesterday nifty crossed a major resistance 2860 and closed +5% 2928. Huge build up in open interest is a concern. FII data is showing bulishness. Heavy writing of puts are showing a positive direction to the markets and the fast stochastic is at over bought zone means the rise may be for one day. Hence one may book profits in calls at further rise of 5% in nifty and wait for weakness to short. Presently there is no chance to think for down side. Let us think in the second half of friday.

STILL IN THE RANGE

Good morning. I came from North India tour for the past one week. Hence I could not update the blog. Now, I want to say that as per the monthly chart if nifty crosses 2550 to down side we just see a major down slide. Indicators are from Reliance stock. One huge open interest addition at these levels (20%) and falling of international crude prices, reduction of import duty on nafta make the share week forecast further. Also there may not be a good global cues to come. Maximum of Nifty 3050/3150 will come or not a big question. Huge open interest build up at nifty put 2500 level also shows that the level may breaks as we are in bare phase. (On earlier occasions huge open interest at puts and the markets were fallen below that level) One can buy 3000 call and 25oo put.

December markets-influenced by Q3 results

We started fresh f & o series. Dec is to be influenced by Q3 results expectations - weak. Hence markets should fall month on month. But as the option writings to take place markets will go on both the directions from this point & finally go down for end of month closing. Present trend is based on range written on previous post. If market goes up 200 points buy put else if markets goes down 200 points buy calls for end of first week. First follow the range break out on the chart of previous post.