Dow Jones Tonight for September 26 - Viral Joshi

Pivot is 11,050 and support is 10,900.

S1 11,000; S2 10,950; S3 10,900; and R1 11,050; R2 11,100; R3 11,150/11,200.

Above 11,050 Dow is positive and below 11,000 Dow is negative.

Nifty Future for September 26 - Viral Joshi

Pivot is 4125 and support is 4050.

S1 4100; S2 4080; S3 4050; and R1 4125; R2 4150; R3 4180/4220;

Buy above 4125 and if it breaks 4150 then 4180 - 4220.
Short below 4100 and if it breaks 4080 then 4070 - 4050.

Daily moving averages:

5DMA 4173;
20DMA 4258;
50DMA 4311;
200DMA 4876.

Nifty Update For Sep 26 - Inder Bhatia

The Indian market saw selling pressure in the afternoon session and close in the red zone. For the coming session, if Nifty trades above 4155, it could test 4193-4220 levels. On the lower side 4070-4040 will act support zone.

Nifty Update for September 25 - Inder Bhatia

The Indian market opened gap-up and saw a choppy session. However, it managed to close in green zone. For the coming session, 4145 is the support level on the upside while 4212-4244 would act as resistance zone. Breaking below 4140, Nifty could test 4104 levels.

Nifty Update for September 24 - Inder Bhatia

The Indian market opened gap-down on the back of the weak global cues but saw smart pullback towards the day's high. However selling pressure at higher levels pulled down the Nifty closed in the deep red zone. For the coming session 4104 is key to watch above 4175. It can test 4225 on the lower side and 4140-4104 would act as a support zone.

Dow Jones Tonight for September 23 - Viral Joshi

Pivot is 11,050 and support is 10,900.

S1 11,000; S2 10,950; S3 10,900; and R1 11,050; R2 11,100; R3 11,150/11,200.

Above 11,050 Dow is positive and below 11,000 Dow is negative.

Nifty Future for September 23 - Viral Joshi

Pivot is 4220 and support is 4120.

S1 4200; S2 4180; S3 4150/4120; and R1 4220; R2 4250; R3 4280/4300;

Buy above 4220 and if it breaks 4250 then 4280 - 4300.
Short below 4200 and if it breaks 4180 then 4150 - 4120.

BTST, buy Nifty future @ 4100-4120 SL 4090 TG 4220.

Daily moving averages:

5DMA 4118;
20DMA 4286;
50DMA 4302;
200DMA 4903.

Back to Pavilion - Anil Desai

After the falling house of cards and the rally thereafter many traders are confused. As mentioned in the post of September 19, Nifty future did a double century but as mentioned the rally could not be trusted. The Nifty slipped again today.

Tomorrow i. e. on September 23, Nifty is expected to go down further. Where is it heading? My view is 3500 or 3300 in a month or two? Well, only God knows for sure. Keep praying that the approaching Diwali will be brighter, else many will not light the diya this Diwali.

Note: The attached chart is for long-term investors.

Nifty Update for September 23 - Inder Bhatia

The Indian market opened on a positive note but was not able to sustain at higher levels. The day saw some profit booking in the last hour of the session. For the coming days, 4191-4144 is a key level for bounces. On the other side 4263-4280 would act as a resistance.

Crude Could do Over 110 Sep 22-26 - Rakesh Chandra

Crude oil is upside was expected. It has achieved its first target. Now a decline to 107 cannot be ignored. Shorting at a higher level is a better idea.

Upwave (2-3) WUT2: 110;
Upwave (0-1) WUT1: 107;

Price is bullish above weekly pivot point of 103.78 and price is bearish below weekly pivot point of 101.92.

Downwave (0-1) WLT1: 99;
Downwave (2-3) WLT2: 94.

Dow Jones Tonight For Sept 22 - Viral Joshi

Pivot is 11,380 and support is 11,220.

S1 11,380; S2 11,320; S3 11,250; and R1 11,400; R2 11,450; R3 11,500/11,600.

Above 11,400 Dow is positive and below 11,380 Dow is negative.

Nifty Future For 22 Sep,2008 - Viral Joshi

Pivot is 4240 and support is 4150.

S1 4240; S2 4220; S3 4180/4150; and R1 4300; R2 4320; R3 4350/4380;

Buy above 4300 and if it breaks 4320 then 4350 - 4380.
Short below 4240 and if it breaks 4220 then 4180 - 4150.

Daily moving averages:

5DMA 4088;
20DMA 4291;
50DMA 4301;
200DMA 4910.

Rangebound Expiry Expected - Rakesh Chandra

It looks like this up rally has still some more upside on Monday morning opening but it would find it difficult to sustain the upside. The higher side of Nifty is a shorting opportunity, and the lower side, short covering is the best trade idea.

This week, on an hourly scale Nifty future is bullish, so in the intermediate term consolidation cannot be ruled out. Technically, Nifty 4400 and 4150 area has consolidate first. So, call selling 4400 and and 4150 puts are good option strategies.

Upwave (0-1) WUT1: 4,426;

Nifty is bullish above 4,314.55) which is a weekly pivot point, and bearish beow 4245.45 which is a weekly pivot point.

Down wave (0-1) WLT1: 4,134.

Return of Bigg-Boss - Inder Bhatia

The Indian market saw a smart rally on the back of strong global cues. Nifty opened gap-up and closed near the day's high. For the coming session, we could see more upside toward 4340-4398 zone, and on the lower side 4200-4140 will act as a support zone.

The Return of

Daily: Last week the Nifty gained 0.4 percent with high volume. The market was very volatile and saw a sharp fall, testing 3800 and recovered sharply to close above 4200. On daily chart Nifty had formed a double bottom pattern as well as an Island Reversal pattern at the bottom, which is bullish sign and should be respected. For the coming session if Nifty trades above 4253, we could test 4405-4487, and on the lower side 4102-4140 would act as as support zone. We can say that at least for the short-term we have a Return of of Bigg-Boss i. e. Bulls.

Weekly: We can see Nifty has formed a Hammer pattern, so if the Nifty future trades above 4289, target 4536.
.

Weekly Hot Calls Sep 22 - Inder Bhatia

Buy HDFC above 2332 TGT 2401>2471 Stoploss 2289.

Buy KOTAK 631 TGT 644>651 Stoploss 617.

Buy PUNJLLOYD above 315 TGT 321>329 Stoploss 308.

Trading in a Volatile Market- Santosh Gundecha

Market has shown that it is 'Supreme ' and has made a mockery of most of the analysts. lobalization took toll on Indian markets. Most of the analysts including myself, were not comfortable with the way market was trading above 4200-4300 and were of a view that market will go down and try to test 3800-3850.

Market did the same but not in the way everybody thought. It was going down like a falling house of cards. As IF this was not enough, the V shaped recovery after making bottom near 3800, caught most players on the wrong foot.

The non-stop news coming from US, made players unable to take any sort of positions, long or shorts. Daily gap-ups and gap-downs in the Indian market (courtesy Dow Jones) made all investors, traders and other market players - HNIs, large traders and small Fund managers - very uncomfortable.

Market has shown its supremacy so players have to go to the basics.

The first rule: 'Bull Market has no Resistances and Bear market has no Supports'. The supports were breaking so fast in 6-7 days of downfall from 4500 to 3800 that the levels were just numbers and not supports.

Second Rule - In bear market relief rallies are too fast and vicious. The same things we are observing now: we are about open a good gap up on Monday. So we are retracing fast in 3 days to the fall. To add to the 'Firangi induced' volatility, is our last week of expiry. So every player will be ready with his position to cover on or before expiry as the future looks very uncertain.

FIIs are major sellers in the Market are causing the Rupee to depreciate as much as 15 percent in the last few days. However IT stocks are not able to gain much because sentiment is much hampered for these stocks, since much of their business comes from the US ,and everybody is suspicious about the health of US companies and thus their ability to spend on IT development . This would have been a boon for IT companies as they were to have Super profits of 15 percent due to depreciation of Rupee.

Trading Strategy: Last few months, the market was moving in a range with small volatility. So major HNI and Small Fund Managers were happy selling Options i. e. calls and puts to get 'COOL' 3-4 percent profit in an expiry. This time many of them have burned their fingers because of the two-way movement. They had to go for hedging/ counter-hedging and this made things more complex.

While doing this one tends to forget simple rule that 'OPTIONS WRITING PAYS ONLY IN NON-TRENDING MARKETS'. One cannot be stuborn with markets and make a single strategy (like Options writing) to earn in every type of market.

It is a better opportunity (and simple too) to play with plain Options i. e. calls and puts strategy like Strangles, Straddles etc. Plain calls and puts are paying much more with limited risk .

Now we are moving in last week of expiry and are about to open with a gap-up on Monday. Technically there are a series of resistances starting from 4330 to 4550. It is advisible not to Fight with market and Play with simpler tools like Options, when we move 100-200 points in Nifty a day. (Those watching charts can watch Candles and gaps in the daily charts).

Hoping this write up will be eye opener and wishing all a Happy and Safe trading.