Dow Jones Tonight for November 7 - Viral Joshi

Pivot is 8,780 and support is 8,600.

S1 8,650; S2 8,620; S3 8,600; and R1 8,700; R2 8,750; R3 8,800/9,000.

Above 8,700 Dow is positive and below 8,650 Dow is negative.

Nifty Future for November 7 - Viral Joshi

Pivot is 2920 and support is 2700.

S1 2850 ; S2 2800; S3 2750; and R1 2920; R2 2950/2980; R3 3020/3050;

Buy above 2900 and if it breaks 2920 then 2950 - 2980 - 3020 - 3050.
Short below 2850 and if it breaks 2820 then 2800 - 2780 - 2750.

Daily moving averages:

5DMA 2992;
20DMA 3065;
50DMA 3723;
200DMA 4497.

Nifty Recap for November 7 - Manoj Bhagra

A quick analysis of today’s action, Nifty was weak from the morning trade itself, courtesy the weak global cues. The late afternoon surge by bulls was met by severe resistance and now we are sitting on 38.2% retracement of the recent rally. We have a good support at 2750, from where another push can be expected by the bulls. It won’t be a bad idea to go long if you see 2725/50 holding; small position, small stop for a target of 2950/3000 for starters! Anything below 2600 can mean attempting to retest the bottom…but we will come to it later, like I said step by step!

One of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These are two most expensive eighths in the world... Larry Livingston.

Nifty Update for November 7 - Inder Bhatia

The Indian market opened on a weak note and saw smart recovery in afternoon session. The market fell sharply after the inflation number came in higher from last week and closed in the deep red zone.

For the coming session 2832 would act as a support zone. If we break 2825 we will test 2754 zone. On the upside 3008 would be a strong resistance zone. We could see some bounces from 2750 levels and the 2.30 factor would be important.

Dow Jones Tonight for November 6 - Viral Joshi

Pivot is 9,300 and support is 9,000.

S1 9,100; S2 9,050; S3 9,000; and R1 9,200; R2 9,300; R3 9,400.

Above 9,200 Dow is positive and below 9,100 Dow is negative.

Nifty Future for November 6 - Viral Joshi

Pivot is 3050 and support is 2800.

S1 2920 ; S2 2900; S3 2880/2850; and R1 2980; R2 3050; R3 3100/3200;

Buy above 3290 and if it breaks 3050 then 3080 - 3100 - 3200.
Short below 2950 and if it breaks 2900 then 2880 - 2850 - 2800.

Daily moving averages:

5DMA 2953;
20DMA 3101;
50DMA 3752;
200DMA 4513.

Nifty Update for November 6 - Inder Bhatia

The Indian market opened on a gap-up note but was not able to sustain at higher levels and saw profit-booking, and closed in the deep red zone. For the coming session we could see more downside toward 2897-2788. On the upper side 3140 would act as a strong resistance zone.

Nifty Needs a Breather - Manoj Bhagra

Voila! Our step-by-step approach to things worked wonderfully. It is better this way, than to get notexcited and throw caution to the winds. I did not update the blog yesterday; anyways what was written on the weekend post has played out to perfection.

We have approached the so-called area 3175/3200 by slowly overtaking the resistances at 3050 and 3150. If you have observed the intraday action for last three days, we have had good dips and rangebound moves for most part of the day, before surging in the late afternoon trades to give ourselves higher closes at the end of each day.

This action has also bought down the nearest 20-period MA (on the EOD), and that is what we have kissed today. Logically we should see a reaction here, considering the fact that this is also the trendline resistance. We are getting overbought on the hourly (charts above-left), and the MACD histogram is sloping down. The crossover of the 20- and 50-period moving averages at 2950 is a good area of support on the hourly charts, though now 3050 also might hold the fort.

As far as the Daily chart is concerned, as mentioned earlier, we have approached the resistance zone and it would be a good idea to catch a breather before attempting the next up move to 3300-3350.

Another point of concern is that in all our excitement of this furious run-up we have to ponder upon a few unfilled gaps we have left below. The sooner they are closed the better for us.

“The good fighters of old first put themselves beyond the possibility of defeat and then waited for an opportunity of defeating the enemy. To secure ourselves against defeat lies in our own hands, but the opportunity of defeating the enemy is provided by the enemy himself.” (from Sun Tzu’s Art of War).

Dow Jones Tonight for November 5 - Viral Joshi

Pivot is 9,550 and support is 9,450.

S1 9,620; S2 9,600; S3 9,500; and R1 9,700; R2 9,750; R3 9,800.

Above 9,700 Dow is positive and below 9,620 Dow is negative.

Nifty Future for November 5 - Viral Joshi

Pivot is 3120 and support is 3100.

S1 3180; S2 3150; S3 3120; and R1 3185; R2 3200; R3 3250/3320;

Buy above 3185 and if it breaks 3200 then 3250 - 3280 - 3320.
Short below 3185 and if it breaks 3170 then 3150 - 3120 - 3100.

Daily moving averages:

5DMA 2891;
20DMA 3131;
50DMA 3778;
200DMA 4529.

Nifty Update for November 5 - Inder Bhatia

The Indian market opened flat note but rallied in last hour and close in green zone. For the coming session we could test 3200-3260 zone. On the lower side 2970 will act as a support zone. Nifty is in an overbought zone on the hourly chart, so trade with a stoploss.

Nifty Update for November 4 - Inder Bhatia

The Indian market opened gap up on positive global cues and close in green zone. For coming session we can test 3150 zone. If we cross and close above 3154 it could test 3350 levels. On the lower side 2970 will act support zone.

I am Taking Profits - Sainik

The ferocity of the rally in the last few days, from a low of 2200 levels to the current levels of 3000-plus, surprised even an ardent follower of the market like me. I am unable to remember such ferocious pullbacks in the past many many years.

This also makes me wonder: What's happening?

Being a prudent speculator, my gut instinct tells me that something seems to be wrong somewhere. As a long-term investor, I was hoping that if one buys around 2400 levels, one would get a return of around 25 percent in a year's time. This has happened in just 5 trading sessions!

Under such circumstances, there is no harm in taking profits after getting such a humongous pullback. I am taking profits entirely and waiting for the air to clear.

Better to be safe than sorry.

Weekly Stocks and Nifty for Nov 3-7 - Inder Bhatia

Buy JINDALSTEL above 803 TGT 854>923 Stoploss 775.

Weekly: Last week Nifty gained 11.67 percent and broke the momentum of the 5-week downside movement, to close with handsome gains. For the coming session we could witness more upside toward 3140-3296. On the lower side 2686 would act as a support zone. On the other side, we could see some profit-booking near 3254-3400 zone. For this week, a close above 2910, Nifty could test 3120-3237. On the lower side, a closing below 2680, it could test 2569-2451 levels.

Buy ROLTA above 180 TGT 193>203 Stoploss 175.

Daily: The Indian market opened with handsome gains and closed in the green zone. For the coming session we could witness more upside toward 3000-3100. On the lower side 2728 would act as a support zone.

Nifty Weekly November 3-7 - Rakesh Chandra

Maintain a cautious outlook for Nifty for the upper side. Price has to first consolidate at the lower side before a definite upward breakout.

Next week, buy Nifty future above 2,952.49 Stoploss 2,848, Target 3,122 >>3292;
Short below 2,847.51, for Lower target 2,678>> 2507/2403.

Gold for the Week November 3-7 - Rakesh Chandra

Buy above 11,804.46 Stoploss 11,696;
Up target for Gold is 11,981 >> 12,266 >>> 12,443.

Short below 11,695.54 Stoploss 11,804;
Lower target is 11,519 >> 11,234 >>> 11,057.