Dow Jones Tonight For 08 MAY,2009 - Viral Joshi

Pivot is 8,400 and support is 8,300.

S1 8,400; S2 8,350; S3 8,300; and R1 8,420; R2 8,500; R3 8,600.

Above 8,420 Dow is positive and below 8,400 Dow is negative.

Nifty Future For 08 MAY,2009 - Viral Joshi

Pivot is 3670 and support is 3600.

S1 3670; S2 3640; S3 3620/3600; and R1 3685; R2 3700; R3 3720/3750;

Buy above 3680 and if it breaks 3695 then 3700 - 3720 - 3750.
Short below 3670 and if it breaks 3650 then 3640 - 3620 - 3600.

Daily moving averages:

5DMA 3620;
20DMA 3434;
50DMA 3055;
200DMA 3371.

Nifty Update for May 8 - Inder Bhatia

The Indian market opened on a strong note but saw very volatile moves on both sides trading within a range. For the coming session we could see "the 2.30 action" toward the upside. If Nifty trades above 3705 it will kiss 3770; on the lower side trading below 3630 it will touch 3537.

Dow Jones Tonight For 07 MAY,2009 - Viral Joshi

Pivot is 8,475 and support is 8,350.

S1 8,500; S2 8,475; S3 8,350; and R1 8,520; R2 8,550; R3 8,600.

Above 8,520 Dow is positive and below 8,500 Dow is negative.

Nifty Future For 07 MAY,2009 - Viral Joshi

Pivot is 3650 and support is 3550.

S1 3620; S2 3600; S3 3580/3550; and R1 3650; R2 3685; R3 3700/3720;

Buy above 3650 and if it breaks 3670 then 3685 - 3700 - 3720.
Short below 3620 and if it breaks 3600 then 3590 - 3580 - 3550.

Daily moving averages:

5DMA 3555;
20DMA 3403;
50DMA 3040;
200DMA 3372.

Nifty Update for May 7 - Inder Bhatia

The Indian market opened on a flat note and saw sharp selling pressure in the afternoon trading session indices close in the negative zone. On the lower side there is good support around 3537 zone. If the Nifty trades below 3616 it would test 3583-3541. On the upper side if Nifty trades above 3671 it would test 3691-3725.

Dow Jones Tonight For 06 MAY,2009 - Viral Joshi

Pivot is 8,380 and support is 8,300.

S1 8,400; S2 8,350; S3 8,300; and R1 8,450; R2 8,500; R3 8,600.

Above 8,450 Dow is positive and below 8,400 Dow is negative.

Nifty Future For 06 MAY,2009 - Viral Joshi

Pivot is 3650 and support is 3600.

S1 3650; S2 3625; S3 3600/3580; and R1 3670; R2 3685; R3 3700/3720;

Buy above 3650 and if it breaks 3670 then 3685 - 3700 - 3720.
Short below 3650 and if it breaks 3640 then 3620 - 3600 - 3580.

Daily moving averages:

5DMA 3524;
20DMA 3373;
50DMA 3026;
200DMA 3374.

Nifty In Extended Third Wave Area - Rakesh Chandra

On an EOD basis we are progressing towards end of extended 3rd up wave. This is called 5th of 3rd wave. It is a war zone for the bulls and bears, and the bears will be the winner. It requires 1-2 days more for the up momentum to cool off. Till this time, we will see sideways movement. Since Nifty has already achieved all targets on a weekly basis, do not expect much upside.

Sell a higher call option of 3750 instead of naked shorting the future; alternatively buy a put and hold. If at some point we see more upside or if stay in range for 1-2 days then take 3500 put option. As a rule, convention says that shorting a future = selling a call option + buying a put option.

Nifty Update for May 6 - Inder Bhatia

The Indian market opened on a flat note and traded in a narrow range. On daily chart Nifty has formed a doji which suggest indecisiveness at current levels. Market is now trading in an overbought zone and a correction cannot be ruled out. If nifty trades above 3672 it could test 3703-3735 zone and if it trades below 3644 it will test 3608-3572.

USD Investment in India Has Peaked

If we look at the investment chart of US dollars in absolute amounts since 1990, i.e the year when controls over the USD were removed aka liberalization, enthusiasts of Elliot Wave Theory would see that the impulsive third wave is over. The entire impulsive third wave move took 10 years.

The downwave from about 14,000 is the wave A or so we can assume. The next few years will find it difficult to see the same peaks of USD investment in India in absolute terms, irrespective of the value of the Indian rupee versus the USD.

This can only point to a churn as the USD investment sees a 4th wave corrective. Do note that this corrective can go right down to 2,500 level. However, optimistically, it would do a triangular movement.

The scenario thus does not augur well for the Indian economy. It points to the fact that interest in emerging economies would be on the wane or at least muted. To maintain the bull run, the Indian rupee would have to be devalued to allow an export-oriented economy to flourish.

Nifty Update for May 5 - Inder Bhatia

The Indian market opened on a huge gap-up and closed near the day's high. Nifty saw a breakout from range and our target mentioned 3705 on a weekly basis. For the coming session trading above 3659, Nifty will touch the 3719-3752 zone. On the lower side trading below 3590 it will touch 3566-3533 zone. Key level to watch is the 3705 zone. Keep trailing with stoploss and lock profits.

Dow Jones Tonight For 05 MAY,2009 - Viral Joshi

Pivot is 8,380 and support is 8,300.

S1 8,400; S2 8,350; S3 8,300; and R1 8,450; R2 8,500; R3 8,600.

Above 8,450 Dow is positive and below 8,400 Dow is negative.

Nifty Future For 05 MAY,2009 - Viral Joshi

Pivot is 3640 and support is 3600.

S1 3640; S2 3620; S3 3600/3580; and R1 3680; R2 3700; R3 3720/3750;

Buy above 3680 and if it breaks 3700 then 3720 - 3750 - 3800.
Short below 3650 and if it breaks 3640 then 3620 - 3600 - 3580.

Daily moving averages:

5DMA 3488;
20DMA 3339;
50DMA 3011;
200DMA 3375.

Stocks Update for May 4 - Rakesh Chandra

These stocks have technically corrected and are waiting for the upside.

XLTL, WWIL, WSTCSTPAPR, WOCKPHARMA WHEELS, ALOKTEXT,BANKINDIA, BARTRONICS, BHAGYNAGAR, NAHARSPING, GUJALKALI, HORIZONINF, D-LINK.

Nifty and Stocks Update for May 4 - Inder Bhatia

Buy INFOSYS above 1512 TGT 1571>1625 Stoploss 1485.

Buy FINANCIAL TECH above 706 TGT 723>739 Stoploss 693.

Nifty weekly chart has seen a breakout and close above the major downward sloping line. The next resistance for longs are 3793 with strong support at 3240-3173.

Last week market closed marginally lower by 0.2 percent and BSE Sensex gained 0.7 percent. From the last 13 trading sessions, Nifty is trading in the 3300-3500 zone. For the coming session we could see a breakout or breakdown.

If Nifty trades above 3520 it will test 3700 zone and trading below 3290 it will test 3200 zone. Nifty is still hanging around 200-day moving average and will act as as support zone for bulls. For the coming week, closing above 3496 levels it will test 3547-3613 zone and closing below 3440 it will test 3377-3290 zone.

The Indian market opened on a strong note with positive global cues and closed at the day's high. Nifty is witnessing major resistances near 3520 zone. If Nifty trades above 3480 it will test 3506-3522 zone. On the lower side trading below 3420 it will test 3397-3360 zone. On the hourly chart, all oscillators are showing divergences.This rally can be use for profit-booking on every rise.