Where will Nifty go NOW?

What Experts Say and what meaning I take from it !!!

11:55 AM - Buy Reliance Power on dips at Rs 90, says Rajesh Tambe of Sunchan Securities on Zee Business.
BOOK PROFIT TODAY BECAUSE IT WILL COME DOWN NOW

12:18 PM - Buy Mercator Lines on dips at Rs 27-28 with long-term view, says Prakash Gaba, technical analyst, on CNBC Awaaz.
BOOK PROFIT TODAY BECAUSE IT WILL COME DOWN NOW

2:16 PM - Sell Nifty T-3170 SL@ 3320, Hemen Kapadia
DO NOT BUY FRESH NIFTY LONG AND EXIT LONG AT 3170

2:28 PM-Buy RIL T-1722 SL@1662, Hemen Kapadia…. Hit SL but closed @1671
BECAUSE RIL HAS HIT SL(BUY) TODAY SO BOOK PROFIT IN RIL AND SHORT SELL BELOW 1650

2:42PM-Buy SBI T-1194 SL@1134, Hemen Kapadia….. Closed below SL !!!
EXIT SBI LONG POSITIONS

3:17 PM - Buy Nifty futures with a target of 3450 and stop loss of 3150, says Ashwani Gujral
HOLD SHORT/FRESH-SHORT NIFTY BELOW 3150

3:21 PM - Sell Nifty futures with a target of 3170 and stop loss of 3290, says Prakash Gaba
EXIT NIFTY LONG POSITIONS BELOW 3170

3:23 PM - Hold Nifty longs, it has resistance at 3330 and support at 3220, says Rahul Mohindar
EXIT NIFTY LONG BELOW 3220

3:25 PM - Hold existing long positions with target of 3275 and stop loss of 3215, says Vijay Bhambwani
EXIT NIFTY LONG BELOW 3215


The conclusion seems to be Hold Nifty shorts created today with SL@3275 and add more shorts below 3170

This is only for educational purpose,
this is NOT a trading idea for intraday or delivery

Do Paper Trading before you start trading
with your hard earned money

April Fool Day

Market made April Fool to many traders today.

Today market opened weak and hit SL@1500 of yesterday's RIL Buy call and then later in day it had hit SL@1580 of RIL sell call@1545 !!

RIL have been dragging market upside

Hangseng Closed negative, DowJones Future was trading negative also FTSE traded negative.

Nifty Target. Support and Resistance

For 01 Apr 2009

Nifty Resistance :3045-3069
Nifty Support : 2997-2973
Nifty levels 3045 & 2973 may create a good trading volume !

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What market / Nifty did today on Marc 31, 2009?

• In the morning it gave chance to book profit in Fri / Mon Nifty shorts and then gave a chance to buy it and book profit later in the day
• It has hit SL@3040 of Intraday Nifty shorts and then hit SL@3010 of Intraday Nifty Longs.
• The day closing seems to be in favour of Nifty Shorts as it closed below 3040 comfortably and below Nifty Apr Fut average trade value!

Answers of following Questions may decide next course of action :

• Why the Big Bro RIL & Nifty fell drastically just before 3pm today? Although global indicators positive? (RIL & Nifty both gave up about 30 points in last hour)
  
• Why there was panic selling as soon as Nifty came to 3040 (RIL@1540) from upside?
• Why HangSeng also could not hold today's gains as shown in the morning?
• Can this rally continue if DowJones do not close above 7650 tonight?

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Let us check what Market Experts have told today :

• 9:37 AM - Nifty will see resistance at 3040, says Salil Sharma of Kapoor & Sharma Company on CNBC Awaaz.
• 9:45 AM - Nifty might reach 3100 easily but we are unlikely to see resumption of last week's uptrend, says Sudarshan Sukhani, technical analyst, on CNBC TV18.
• 9:51 AM - Key level of the Nifty for intra-day today would be 3020 and 3025, says Rahul Mohindar, technical analyst, on CNBC TV18.
• 10:11 AM - Sell IFCI with target of Rs 17.75, says Anil Singhvi, market expert, on CNBC Awaaz.
• 10:25 AM - Nifty will range between 2950-3100, says Ashwani Gujral, technical analyst, on CNBC Awaaz. He advises traders to buy at 2950-2970 and sell at 3100 levels.
• 10:45 AM - Buy Tanla Solutions with target of Rs 40, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 28.50, he adds.
  
• 11:20 AM - The market should see a recovery either by day-end or tomorrow led by banking, RIL and Infosys, says Deven Choksey of KR Choksey Securities on CNBC TV18. The Nifty is likely to remain ranged between 2760-3150, he adds.
• 11:28 AM - Buy DLF on dips at around Rs 135-140, says Ambareesh Baliga of Karvy Stock Broking on CNBC TV18.
• 12:54 PM - Buy Reliance on decline with short-term target of Rs 1570 and medium-term target of Rs 1620, says E Mathew, technical analyst, on CNBC TV18. It has support at Rs 1490-1475, he adds.
• 1:23 PM - Buy Dish TV after it crosses Rs 28-29 for the long term for more momentum, says MB Singh, technical analyst, on Zee Business.
• 2:42 PM - Buy RIL with a target of Rs 1605 and stop loss of Rs 1500, says Hemen Kapadia, technical analyst, on CNBC Awaaz.
• 3:17 PM - Go short on Nifty with a target of 2850 and stop loss of 3100, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy.
• 3:17 PM - Maintain Nifty long with a target of 3097 and stop loss below 2975, says Rahul Mohindar, technical analyst, on CNBC Awaaz, as closing market strategy.
• 3:23 PM - Sell Sterlite Industries with a target of 330 and stop loss of 360, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.

This is only for educational purpose,
this is NOT a trading idea for intraday or delivery

Where will Nifty go NOW?

Different Analysts have different Views !!!

• Vijay Bhambwani - Square Nifty long positions, if Nifty goes below 2920 (AND NIFTY WENT BELOW AROUND 3:30pm TODAY, but settlement rate is 2938). He adds to go long again or stay away for any positive global cues
• Ashwin Gujral, - Buy Nifty call 3000 with T-3100 SL@2870 as market closing stretegy
• Sudarshan Sukhani - Buy Nifty put 2950 and hold till expiry, as market closing stretegy

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My personal strategy is to hold Nifty/put (30 May) for Nifty T-2880-2710 SL@2980 on closing basis

20 Mar 2009 : What Experts Say

• 4:17 PM - Buy Reliance Power with 7-day targets of Rs 113 and 123, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 96.50, he adds.
• 3:27 PM - Buy India Cement with targets of Rs 113 and 127, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 90, he adds.
• 2:20 PM - Buy ONGC with target of Rs 950-1000, says Sharad Awasthi, market expert, on CNBC Awaaz.
• 1:33 PM - Hold Reliance Industries with a target of Rs 1420 after which it can go to Rs 1670, says Akshita Deshmukh, technical analyst, on CNBC Awaaz.
• 11:50 AM - Hold Reliance Capital with a target of Rs 475 where one can book profits, says Akshita Deshmukh, technical analyst, on CNBC Awaaz.
  

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Also following are more recommendations by more Experts :

• Accumulate Hero Honda, target to Rs 1055: Emkay 04:22 PM
• Buy Dr Reddys Labs, target of Rs 581: Angel Broking03:08 PM
• Buy Navneet Publications, target of Rs 59: Sharekhan 01:23 PM

18 Mar 2009 What Experts says

• 3:56 PM - Buy Jet Airways with a target of Rs 176 after which it can go to Rs 210 in 60 days and maintain a stop loss of Rs 140, says Jatindar Sharma, technical analyst, on CNBC Awaaz.
• 3:50 PM - Buy Idea Cellular with a target of Rs 52-56 and stop loss of Rs 42, says Husseini Wadharia of Techno Shares on CNBC Awaaz.
• 2:55 PM - Buy Suzlon with a target of Rs 44-52 and stop loss of Rs 33, says Husseini Wadharia of Techno Shares on CNBC Awaaz.
• 1:37 PM - Buy ICSA India on dips around Rs 53 with a target of Rs 90-142, says E Mathew, technical analyst, on CNBC TV18.
• 12:18 PM - Buy Reliance Communications with long-term view, says Vijay Bhambwani, technical analyst, on CNBC TV18. It can go up to Rs 300-320 in 2-3 years' time, he adds.
• 12:11 PM - Buy Ashok Leyland at current levels with targets of Rs 23 and Rs 27, says Sudhanshu Pandey, technical analyst, on CNBC Awaaz.