|
07/02/2012
|
|
CGheewala's Scrip Script
|
Indian frontline equity indices somehow managed to escape the wild swings in the dying hours of trade unaffected as they finished the session with over half a percent gains. Just when it appeared that the benchmarks will conclude another positive session with good gains, hefty bouts of selling pressure emerged abruptly in the last leg of trade, which dragged the key gauges to the lowest point in the session. However, the kneejerk selling pressure was immediately countered before the close of session as it seemed like the bulls had the last say as they stalled the declining momentum of the benchmarks and took the key indices to the highest point in the session. Initial optimism has petered out and markets in the region settled on a mixed note while European stock markets declined as the outcome of the long awaited Greece debt negotiations was still elusive as the country's political leaders and its private-sector creditors scrambled to complete twin negotiations on an aid package and mammoth debt deal. The BSE Sensex jumped 102.35 points or 0.58% to settle at 17,707.31, its highest closing level since 31 October 2011. The index surged 224.76 points at the day's high of 17,829.72 at the onset of the trading session. The index fell 9.86 points at the day's low of 17,595.10 in mid-afternoon trade. Market breadth that indicates market health was positive. 1852 shares were advanced , 1064 shares were declined while 100 shares trade flat on BSE.
Sensex Price Earning ( P/E ):- 18.16
Nifty Price Earning ( P/E ):- 18.97
Intraday volatility was immense. As domestic market has uncanny knack of anticipating of Asian markets and so called our step brother SGX Nifty , got off o a gap up opening tracking the impressive leads from Asian markets on the back of encouraging over the weekend leads from the US. Thereafter, the bourses remained in fine fettle through the next two hours. But in late morning trades the optimism in the markets showed signs of petering out. Hefty bouts of selling pressure in mid noon trades even dragged the bourses to the neutral line. However, the resilient indices did not capitulate to the extreme volatility and rebounded to eventually extend the northbound journey for the fifth straight session.
Technically speaking after given a triangle and falling channel breakout CNX Nifty Futures has managed to close above its medium term moving average on weekly and monthly charts which is augurs for believers. Moreover on monthly charts oscillators like stochastic , MACD and RSI has given positive crossover from oversold zone which gives bullish trend confirmation. While on daily charts short term Daily Moving Average ( DMA ) showing some strength and may crossover to the 200 Daily Moving Average ( DMA ) which will lead the key benchmark indices to the higher levels. Now coming back to technical levels 5298 = 5259 will act as significant support zone. Profit booking possible on below these levels. If CNX Nifty Futures manage to breach above mentioned support zone 5178 = 5125 = 5096 possible. While on upward side 5377 = 5402 will act significant resistance above it 5434 = 5497 = 5515 possible. Looking to the market scenario we expect CNX Nifty will touch above mentioned target easily.
Technically speaking trend is POSITIVE. 5359 will act as watermark for nifty. Buy above 5359 and increase your exposure above 5390 for possible upward target of 5422 === 5455 with stop loss of 5344.
If nifty sustain above 5455 hold your position for further target of 5487 === 5520 with revised stop loss of 5438.
Apply wait and watch policy at 5520 can create fresh short position for target of 5470 === 5438 with stop loss of 5534.
Sell below 5344 and increase your exposure below 5329 for target of 5296 === 5266 with stop loss of 5359.
If nifty sustain below 5266 hold your position for further target of 5236 === 5205 with revised stop loss of 5281.
Apply wait and watch policy at 5205 can create fresh long position for target of 5251 === 5281 with stop loss of 5188.
Short position is not advisable above 5422.
Long position is not advisable below 5296.
NITISH KAMLESH GHEEWALA
|
|
07/02/2012
|
|
BSE Sensex
|
Sensex major resistance at 17826 === 17945.
If sensex trades above 17945 short covering expected in vicinity of
18061 === 18177 === 18292 levels.
Sensex weightage average at 17710.
Sensex major support at 17591 === 17476.
If sensex trades below 17476 vertical fall expected in vicinity of
17357 === 17238 === 17119 levels.
|
|
07/02/2012
|
|
NSE Nifty Futures
|
Nifty Futures major resistance at 5395 === 5429.
If Nifty Futures trades above 5429 short covering expected in vicinity of
5460 === 5492 === 5523 levels.
Nifty Futures weightage average at 5363.
Nifty Futures major support at 5329 === 5298.
If Nifty Futures trades below 5298 vertical fall expected in vicinity of
5264 === 5230 === 5195 levels.
|
|
07/02/2012
|
|
NSE Bank Nifty Futures
|
Bank Nifty Futures major resistance at 10336 === 10431.
If Bank Nifty Futures trades above 10431 short covering expected in vicinity of 10524 === 10616 === 10708 levels.
Bank Nifty Futures weightage average at 10243.
Bank Nifty Futures major support at 10147 === 10055.
If Bank Nifty Futures trades below 10055 vertical fall expected in vicinity of
9959 === 9864 === 9768 levels.
|
|
24/01/2012
|
|
Week Pick Tip
|
Strategy: 1
Buy Nifty 5100 CE ( Call European ) ( February Series ) At 111.00
Buy Nifty 5000 PE ( Put European ) ( February Series ) At 91.00
Time Period: February 2012 Expiry
Strategy: 2
Buy Nifty 5100 CE ( Call European ) ( February Series ) At 111.00
Buy Nifty 5100 PE ( Put European ) ( February Series ) At 135.00
Time Period: February 2012 Expiry
|
