Can Nifty close above 4650?

Tomorrow seems to be a day to short sell Nifty around 4650 level for T-4500-4300 in few days’ time!

Nifty shorts may not be squared until RIL CLOSES above 2320.

Once the big brother RIL starts closing above 2320, better exit Nifty Shorts (because RIL may then test 2500 level) and short again once RIL starts weakening from higher level.

This is only for educational purpose,
this is NOT for trading

Think Tank

• Do Paper Trading before you start trading with your hard earned money.
• Instead of Targeting profit, emphasize more on minimizing trade loss

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Nifty Target. Support and Resistance

Today Nifty levels 3336 and 3394 are to be watched for further new long/short positions. Nifty's ultimate target today is 3280 with resistance at 3420

RIL levels 1730 and 1680 are to be watched for further new long/short positions.
DLF levels 245 and 235 are to be watched for further new long/short positions.

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

Nifty Target. Support and Resistance

At the moment bears seems to be caught red handed.

Nifty at 3040, which was resistance, now it has become support.

And now resistance seems to be in the range of 3164-3174 for today on closing basis. Intraday Nifty future may test 3200 to hit bears ultimate stoploss of today !

It may worth to buy Nifty3100PE in the range of 60-63 and holding it for target of 120-240 in this month.

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

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

Risky Traders R U Ready to Short Sell Nifty?

• The risky traders may watch out now for good opportunity to short sell Nifty Future.
  
• May be only one lot to start with and then add more once you are in profit of 50 points.
  
• Averaging in loss is not good strategy, instead averaging in profit seems to be better strategy.
• Anyone's trading may be wrong at times, sometimes it is better to accept that trade was wrong and book small loss instead of carrying om the burden and waiting for your target to reach.

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

Think Tank

• Do Paper Trading before you start trading with your hard earned money.
• Instead of Targeting profit, emphasize more on minimizing trade loss

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What Experts Said :

• 3:54 PM - Buy Titan Industries with a target of Rs 800-825 and stop loss of Rs 750, says Nitin Murarka of SMC Global, on Zee Business.
• 3:51 PM - Buy Crompton Greaves with a target of Rs 140 and stop loss of Rs 105, says Nishant Jain of Tradeswift, on CNBC Awaaz.
• 3:45 PM - Buy DLF with a target of Rs 178-200-210 and stop loss of Rs 160, says Nitin Murarka of SMC Global, on Zee Business.
• 3:27 PM - Book profits on Nifty longs at 3100-3150, says E Mathew, technical analyst, on CNBC Awaaz, as closing market strategy.
• 3:26 PM - Book profits on longs, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy.
• 3:23 PM - Take long positions in Nifty April futures, says Rajat Bose, technical analyst, on CNBC Awaaz, as closing market strategy. Go long on JP Associates and TTML, he adds.
• 3:14 PM - Nifty downside support is 2850 and upside at 3150 where there could be fresh supply, feels Siddharth Bhamre of Angel Broking on Zee Business. This is not a market to go short, he feels. Do not sell on rises but wait and buy on dips in this market now, he adds.
• 3:10 PM - There is some more steam in this rally with Nifty support at 2700-2800 and Sensex support at 8000, says Ajay Bagga of Deutsche Bank on CNBC Awaaz. This rally could possibly take Nifty to 3200 and Sensex to 11000, he adds. Corporate earnings and elections are the only two domestic event risks for the market now, he feels.
• 2:23 PM - Buy Unitech with a target of Rs 40 and stop loss of Rs 33, says Nitin Murarka of SMC Global, on Zee Business.
• 11:47 AM - Buy Reliance Industries for long position with target of Rs 1750-1760, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 1465, he adds.
• 10:51 AM - Sell Akruti City because it is a volatile stock, says Rahul Mohindar, technical analyst, on CNBC Awaaz.
• 9:32 AM - Nifty is unlikely to remain below 2950 and should cross the 3000 level, says Rajat Bose, technical analyst, on CNBC TV18. It has resistance at 3020 and major resistance at 3080-3110, he adds. He recommends buying on dips.