Niftywatch:-
Intra day support & resistance:
|
S 2 |
S 1 |
Pivot |
R 1 |
R 2 |
|
4237.65 |
4298.80 |
4333.80 |
4394.95 |
4429.95 |
Trend decider : 4321
Support : 4308 - 4285 - 4250
Resistance : 4374 - 4417 - 4447
Market is rangebound for almost 8 months. There is no boubt
we are in consolidation period. Just wait for few more trading
sessions and nifty will be playing in new orbit. Very soon there
will be breAK OUT. As adviced a month back ,dow is very
much in range, facing resistance @ 11500-11750 and support @
11150-11300. last week, ftse has given 1st buy signal. Its time to
watch all global markets , any day may trigger ……………
one can consider buying banking stocks at decline: boi, andhra
bank, j&k bank, pnb and jindal saw, zee and can be considered
selling cement stocks at higher rates like grasim or ind. Cement
and bel etc.
congratulations …. Nse launched currency derivatives on
aug.29th (this is another step toward reforms and upgradation).
that will give opportunity to invest, hedge and arbitrage. Take
example, if someone wants to go long in infosys, but is worried
of INR appriciation, can hedge the impact of INR appriciation
by using CURRENCY DERIVATIVIES .
CONTRACT EXPIRATION DATE FOR EACH CONTRACT
SHALL BE THE LAST TRADING DAY OF THE MONTH
(EXCLUDING SATAURDAYS). THE LAST TRADING DAY
FOR EACH CONTRACT SHALL BE 2 WORKING DAYS
PRIOR TO THE CONTRACT EXPIRATION DATE. THE
SETTLEMENT WILL BE FIXED BASED ON THE RBI
Reference Rate at 12:00 noon on tha last trading day. All
contracts will net settle in INR.
No change in view (written on aug.18,2008 , still hold good)
Banking stocks may attract selling @ current levels but can be considered value pick at decline.
Journey started @3834/- (advised to buy at that level with target of 4556,) has achieved its upward targets . now support can be considered @ 4298 or 3810 with target of 5100. “ watch for 4141.
DISCLAIMER :- We can’t dictate the market. Its an observation only. May , may not hold good. Much depend on govt. policies ,economic & political scenario. Its more of an informatics’ article only. Presenter /writer is not liable or responsible for any personal or financial losses or profits.
sell nifty with s.l 4397 target 4365