NIFTY DAILY OUTLOOK DEC 14, 2010

On Monday, market opened flat with some selling pressure, but latter attracted good buying in mostly all the indices and traded higher thru out the day. Market closed up in green with good gains. Metals, Realty, Capital Goods and Power outperformed whereas FMCG under performed. Overall it was a highly volatile trading session. Volume for the day was slightly lower then previous trading session. Market breadth was positive. Midcap and Small caps index closed up in green.

For the day, the level of 5890 and 5865 may act as a major support for the market and the level of 5920 and 5945 may act as a major hurdle. Market may remain highly volatile, be cautious at higher levels. Banks and Realty may attract selling.

Short term trend will turn positive above the level of 5970

"Spot Levels" Day trader can go long on nifty above 5920 with stop loss 5890 for target 5945 / 5975 and can go short below 5890 with stop loss 5920 for target 5865 / 5835.

Index Range

Nifty: 5907.65
Range: 5835-5975
Resistance: 5920-5945-5975
Support: 5890-5865-5835

Bank Nifty: 11518.10
Range: 11360-11690
Resistance: 11580-11635-11690
Support: 11460-11410-111360

Short term: Down (5970)
Medium term: Down (6070)
Long term: Up (5350)

Cash Market Trading Activity (Prov. Figure in Rs. Crores)

Cat: Buy Val - Sell Val=   Net Val
FII: Data N/A
DII: Data N/A

All Above Spot Levels

OM SHRI GANESHAYA NAMAH

Astro View on Nifty 14th December 2010

•December's highly volatile, widely fluctuating dates are: 7 (-19), 8 (-72), 16, 17, 21, 22, 23, 24
•During this week, the trading is likely to be only for four days, so make a note of it.
•According to Ganesha's last Tuesday's prediction in the same column, you must have observed that the market went hay-wire as Moon & Rahu were in conjunction.
•Today, Moon is in the Uttarbhadrapada constellation of the zodiac sign ? Pisces.
•Today, Moon-Jupiter enjoys Gajkesari Yog.

Source: GaneshaSpeaks

OM SHRI GANESHAYA NAMAH

Global Market Update : Cautious recovery : By Colin Twiggs

By Colin Twiggs
December 13, 2010 3:00 a.m. ET (7:00 p.m. AEDT)

These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice.

USA

Dow Jones Industrial Average

The Dow is consolidating in a narrow rectangle below resistance at 11450, a bullish sign. Breakout would confirm the S&P 500 and signal an advance to 12000*. Rising Twiggs Money Flow (21-day) reflects strong buying pressure. Reversal below 11000 is now unlikely, but would also warn of a primary trend reversal.

* Target calculation: 11000 + ( 11000 - 10000 ) = 12000

 

S&P 500

The S&P 500 followed through above 1220 to signal a primary advance. Rising Twiggs Money Flow (13-week) indicates strong buying pressure. The target for a primary advance is 1420*. Reversal below 1180 is most unlikely, but would warn of a bull trap.

* Target calculation: 1220 + ( 1220 - 1020 ) = 1420

Transport

Dow Jones Transport Index and major components, Fedex and UPS, are all advancing strongly. A bullish sign for the economy.

Technology

The Nasdaq 100 is headed for a test of its 2007 high at 2250. Breakout would signal a fresh primary advance. A Twiggs Money Flow (13-week) trough high above zero again indicates strong buying pressure.

* Target calculation: 2050 + ( 2050 - 1750 ) = 2350

Canada: TSX

The TSX Composite advance has a target of 13400*. Twiggs Momentum holding high above zero signals a strong up-trend. Reversal below 12600 is most unlikely, but would warn of a primary trend reversal.

* Target calculation: 13000 + ( 13000 - 12600 ) = 13400

United Kingdom

The FTSE 100 is testing resistance at 5900. Rising Twiggs Money Flow (13-week) indicates buying pressure, but this conflicts with a bearish divergence on the shorter 21-day indicator. Breakout above 5900 would signal an advance to the 2007 high at 6750*, while reversal below 5500 would warn of a primary trend reversal.

* Target calculation: 5800 + ( 5800 - 4800 ) = 6800

Germany

The DAX is testing resistance at 7000. Upward breakout would offer a new target of 7450*. Rising 21-day Twiggs Money Flow indicates buying pressure. The ascending broadening wedge pattern, however, is bearish, and downward breakout would signal retracement to 6550.

* Target calculation: 7000 + ( 7000 - 6550 ) = 7450

France

The CAC-40 is edging upwards, with rising 13-week Twiggs Money Flow indicating buying pressure. Momentum remains weak, however, and reversal below zero would warn of a trend reversal. Failure of support at 3600 would confirm.

* Target calculation: 3750 + ( 3750 - 3450 ) = 4050

 

India

The Sensex is testing support at 19000. Declining Twiggs Money Flow (13-week) continues to indicate selling pressure. Failure of support would test 18000*.

* Target calculation: 19000 - ( 20000 - 19000 ) = 18000

Singapore

The Straits Times Index retreated below 3200. Twiggs Money Flow indicates strong selling pressure on the DJ Singapore Index. Failure of support at 3120 would complete a small head and shoulders formation, indicating a correction to primary support at 2900*. Twiggs Momentum (21-day) reversal below zero would strengthen the bear signal.

* Target calculation: 3100 - ( 3300 - 3100 ) = 2900

Japan

The Nikkei 225 rallied Monday, confirming the breakout above 10200. Bearish divergence on Twiggs Money Flow (21-day), however, warns of selling pressure. Expect further consolidation above the new support level. Reversal below 9900 would warn of another correction.

South Korea

The Seoul Composite Index is headed for a test of its 2007 high at 2050. The ascending broadening wedge, similar to the DAX, however, warns of retracement to 1850. The primary trend is up and likely to remain so unless we witness further provocation from the North. Upward breakout would indicate another primary advance. Twiggs Money Flow (13-week) holding high above zero reflects strong buying pressure.

China

The Shanghai Composite index broke through resistance at 2900. Expect retracement to test the new support level. Respect would suggest an advance to 3150. Bearish divergence on Twiggs Money Flow (13-week), however, warns of selling pressure. Reversal below 2800 would offer a target of primary support at 2600*.

* Target calculations: 2800 - ( 3100 - 2900 ) = 2600

The DJ Shenzhen Index remains positive, with 13-week Twiggs Money Flow holding high above zero. Breakout above 453 would suggest an advance to 540*.

* Target calculation: 480 + ( 480 - 420 ) = 540

The Hang Seng Index is consolidating between 23500 and 22800. Bearish divergence on Twiggs Money Flow (13-week) continues to warn of selling pressure and Momentum falling below zero warns of a reversal. Failure of support would offer a target of 21000*, while recovery above 23500 would suggest another test of 25000.

* Target calculation: 23000 - ( 25000 - 23000 ) = 21000

Brazil

The Bovespa Index is again testing support at 68000. Twiggs Money Flow (21-day) declining below zero warns of selling pressure. Breakout below 68000 would test primary support at 64000. Recovery above 70000 is less likely, but would suggest another test of 73000.

* Target calculation: 70000 + ( 70000 - 60000 ) = 80000

 

Australia: ASX

The All Ordinaries is headed for another test of resistance at 5000. Bearish divergence on Twiggs Money Flow (21-day), however, warns of medium-term selling pressure. Twiggs Momentum reversal below zero would warn of a primary trend reversal. Failure of support at 4640 would confirm.

* Target calculation: 4650 + ( 4650 - 4250 ) = 5050

An ASX 200 breakout above 4800 would indicate an advance to 5000. Twiggs Money Flow (21-day) below zero, however, warns of medium-term selling pressure and reversal below 4575 would signal a primary trend reversal.

Little progress can be made by merely attempting to repress what is evil. Our great hope lies in developing what is good.

OM SHRI GANESHAYA NAMAH

NIFTY WEEKLY & DAILY OUTLOOK DEC 13, 2010

As advised last Monday to take short position on rise above the level of 6000 and further more shorts to be added below the level of5930, from 6070 market fall till the level of 5720. For this week watch out level of 5845 on downside and 5970 on upside, move above or below the level will decide the next move in market. Our views still remain negative on market, use rally for taking fresh short position in market near the level of 5900 but stop loss of 5970 on closing basis on nifty spot is a must for downside target of 5735/5625/5515, further shorts can be added if market manage to remain below the level of 5845. On upside if market manage to close above 5970, one can take long position in market for upside target 6065/6170/6280, but stop loss of 5840 on closing basis on nifty spot is a must.

For the day, the level of 5840 and 5810 may act as a major support for the market and the level of 5870 and 5895 may act as a major hurdle. Market may remain highly volatile.

"Spot Levels" Day trader can go long on nifty above 5870 with stop loss 5840 for target 5895 / 5925 and can go short below 5840 with stop loss 5850 for target 5810 / 5785.

Index Range

Nifty: 5857.35
Range: 5785-5925
Resistance: 5870-5895-5925
Support: 5840-5815-5785

Bank Nifty: 11447
Range: 11160-11700
Resistance: 11485-11593-11700
Support: 11375-11265-11160

Short term: Down (5930)
Medium term: Down (6030)
Long term: Up (5350)

Cash Market Trading Activity (Prov. Figure in Rs. Crores)

Cat: Buy Val - Sell Val=   Net Val
FII: 3528.41-4767.66= -1239.25
DII: 2124.53-1376.88= +747.65

All Above Spot Levels

OM SHRI GANESHAYA NAMAH

Astro View on Nifty 13th December 2010

•December's highly volatile, widely fluctuating dates are: 7 (-19), 8 (-72), 16, 17, 21, 22, 23, 24
•During this week, the trading is likely to be only for four days, so make a note of it.
•Today's Nifty-based scrip: IDBI Bank, Vijaya Bank
•Today's Scrips: Abhishek Corporation Limited, Asahi India Glass Limited, AVT Natural Products, Bajaj Hindustan, Carborundum Univ, Cheslind Textile, Dhampur Sugar, GI Engineering Solns ltd, ICRA, JB Chem & Pharma, NITCO Limited, Oudh Sugar Mills, Polyplex Corpn, Rane Eng Valve ltd, Sanwaria Agro Oils, Sicagen India Limited, Torrent Pharma, UTV Software Communication.
•In the same column, on last Monday, Ganesha had predicted that real estate and media sector would remain in the news. Practically, you must have noted the results.
•In the same column, on last Monday, Ganesha had also warned you and asked you to watch your step. You must have observed the result here as well.

Source: GaneshaSpeaks

OM SHRI GANESHAYA NAMAH

ANOTHER OPTION JACKPOT CALL : BUY 5700 PUTS CMP 62 AND BUY 6000 CALL CMP 48

ANOTHER OPTION JACKPOT CALL
BUY 5700 PUTS CMP 62 AND BUY 6000 CALL CMP 48
TOTAL COST 110 EXPECTED TARGET 140-160
OUR BUYING COST @102-106 (TOO VOLATILE)

OM SHRI GANESHAYA NAMAH

UPDATE ON NIFTY SHORT POSITION : REVISED STOP LOSS / TARGETS / 40% BOOK

Positional short recommended above the level of 6000 and added more below the level of 5930 hit target 1 of 5845, can book 40% of the short position at market and hold remaining position with stop loss of 5845 closing basis on nifty spot for targets 5625 and 5410.

IF MARKET MANAGE TO GIVE CLOSING BELOW 5845 TODAY THEN NEXT WEEK FOR SURE WE WOULD BE HITTING LEVEL OF 5645 ON NIFTY SPOT .

THOSE WHO ARE HOLDING POSITIONAL SHORT CAN KEEP A STOP LOSS OF 5845 CLOSING BASIS ON NIFTY SPOT .... AND EVEN FOR THOSE WHO WANT TO TAKE FRESH SHORT HERE

OM SHRI GANESHAYA NAMAH

NIFTY DAILY OUTLOOK DEC 10, 2010

On Thursday, market opened flat and started falling step by step down however market faced heavy selling pressure during final hour of trading session with selling across all indices and closed down in red. Overall it was a highly volatile trading session. Volume for the day was higher then previous trading session. Market breadth was negative. Midcap and Small caps index closed down in red.

For the day, the level of 5750 and 5725 may act as a major support for the market and the level of 5810 and 5836 may act as a major hurdle. Market may remain highly volatile.
"Spot Levels" Day trader can go long on nifty above 5810 with stop loss 5780 for target 5835 / 5870 and can go short below 5750 with stop loss 5780 for target 5725 / 5690.

Positional short recommended above the level of 6000 and added more below the level of 5930 hit target 1 of 5845, can book 40% of the short position at market and hold remaining position with stop loss of 5845 closing basis on nifty spot for targets 5625 and 5410.

Index Range

Nifty: 5766.50
Range: 5690-5870
Resistance: 5810-5835-5870
Support: 5750-5725-5690

Bank Nifty: 11116
Range: 10830-11375
Resistance: 11160-11265-11375
Support: 11045-10935-10830

Short term: Down (5930)
Medium term: Down (6030)
Long term: Up (5350)

Cash Market Trading Activity (Prov. Figure in Rs. Crores)

Cat: Buy Val - Sell Val=   Net Val
FII:  3726.39-5022.69= -1296.3
DII:  2235.40-1407.48= +827.92

All Above Spot Levels

OM SHRI GANESHAYA NAMAH

Astro View on Nifty 10th December 2010

•December's highly volatile, widely fluctuating dates are: 7,8,16,17,21,22,23,24

•Today, Moon is in the Shravan Nakshatra, whose Lord is Moon.

•Mercury is retrograde, thus, the banking sector may remain in the news.

•From 12:55 to 14:00, Nifty may make you do jobbing on the upper side.

Source: GaneshaSpeaks

OM SHRI GANESHAYA NAMAH

UPDATE : 5800 PUTS AND 6200 CALLS WE HAVE BOOKED FULL PROFIT

5800 PUTS AND 6200 CALLS WE HAVE BOOKED FULL PROFIT

COST WAS BTW 72-80

HIT TARGET PREIMUM OF 110 AND 140 POINTS

GROSS PROFIT OF RS. 40 - 60

PLZ BOOK FULL PROFIT

OM SHRI GANESHAYA NAMAH