Nifty Update for May 15 - Inder Bhatia

The Indian market opened with a huge down gap due to weak global cues and closed in the negative zone. For the coming session we could see “Make or Break" day. If Nifty trades below 3530 it could test 3350. On the upper side trading above 3684 zone it can test 3730-3750.

C Down Wave Starts in Nifty Future - Rakesh Chandra

The market has taken support from A and went up to B high in 2 days . The 3rd is a reversal day and as expected a C down wave is on the cards. The length of the C wave will be more than A wave.

Please note that we are in a bull market correction so avoid shorting on the lower side. The strategy should be to cover on the lower side and sell on the higher side. The recovery will always come as this is the usual tendency of the corrective wave.

Overall there will be chaos as the market always discounts events. There is uncertaintiy on the political front and chances of a hung parliament. Each day a new statement is issued by political players.

With stop loss 3,642 short Nifty Future below 3,628.06 for next day lower target >3,605 >>3,567 >>>3,544.

Dow Jones Tonight for May 15 - Viral Joshi

Pivot is 8,350 and support is 8,200.

S1 8,300; S2 8,250; S3 8,200; and R1 8,350; R2 8,400; R3 8,450.

Above 8,350 Dow is positive and below 8,300 Dow is negative.

if dow jone break 8300 then it lead to down side towards 7800.
if dow jone break 8600 then only more upside seen in it towards 9200.

Bank Nifty For 15 May,2009 - viral Joshi

Pivot is 5470 and Support is 5350

s1 5470 s2 5450 s3 5400 R1 5500 R2 5550 R3 5580/5600

Buy Above 5500 & If Break 5520 Then 5550 - 5580 - 5600.
Short Below 5470 & If Break 5460 Then 5450 - 5430 - 5400.

5470 - 5500 sideway movement

Nifty Future For 15 MAY,2009 - Viral Joshi

Pivot is 3590 and support is 3500.

S1 3590 S2 3580 S3 3550/3520 R1 3630 R2 3650 R3 3680/3700.

NIFTY FUTURE
BUY ABOVE 3600 & IF BREAK 3620 THEN 3640 - 3660 - 3680.
SHORT BELOW 3590 & IF BREAK 3580 THEN 3560 - 3540 - 3520.

Daily moving averages:

5DMA 3617;
20DMA 3512;
50DMA 3138;
200DMA 3359.


Gap Up Opening ( 30 Points).

keep eye on flower pot,if any

3500 support for day .

3600 Level Try To Hold For Day.

Above 3850 It lead to 4200.

Below 3600 it lead to 3450.

3600 To 3800 Act As Resistance Level,Now Its Point of Which Level It Break To move.

Trend Can Change to Be neg. if 3300 Broken. Still that Positive Trend

Today closing expecting at 3680.

Election Result Expecting :- Cong. Going To Rule Again.

Dow Jones Tonight for May 14 - Viral Joshi

Pivot is 8,300 and support is 8,150.

S1 8,250; S2 8,200; S3 8,150; and R1 8,300; R2 8,350; R3 8,400.

Above 8,300 Dow is positive and below 8,250 Dow is negative.

Nifty Future for May 14 - Viral Joshi

Pivot is 3650 and support is 3500.

S1 3600 S2 3580 S3 3550/3520 R1 3630 R2 3650 R3 3680/3700.

Buy above 3560 and if breaks 3570 then 3580 - 3600 - 3620.
Short below 3560 and if breaks 3550 then 3530 - 3520 - 3500.

Daily moving averages:

5DMA 3635;
20DMA 3501;
50DMA 3121;
200DMA 3362.

Nifty Update for May 14 - Inder Bhatia

The Indian market opened on a flat note but saw a roller coaster ride on Nifty and closed in the red zone. For the coming session if Nifty trades above 3720 we could see breakout and a test of 3793. Trading below 3610 level selling pressure could take the Nifty to 3550-3510. Traders can go slow or wait and watch for two days.

Dow Jones Tonight For 13 MAY,2009 - Viral Joshi

Pivot is 8,440 and support is 8,300.

S1 8,450; S2 8,400; S3 8,350; and R1 8,480; R2 8,500; R3 8,550.

Above 8,480 Dow is positive and below 8,450 Dow is negative.

Nifty Future for Mat 19 - Viral Joshi

Pivot is 3640 and support is 3600.

S1 3640 S2 3620 S3 3600 R1 3700 R2 3725 R3 3750/3800.

Buy above 3680 and if it breaks 3700 then 3725-3750-3800.
Short below 3650 and if it breaks 3640 then 3620-3600-3580.

Daily moving averages:

5DMA 3634;
20DMA 3487;
50DMA 3104;
200DMA 3365.

Nifty Update for May 13- Inder Bhatia

The Indian market opened on a flat note but saw smart buying in the afternoon session and closed with handsome gains. For the coming session if Nifty trades above 3686 it could test 3720-3748 on the upside. On the other side trading below 3600 it could test 3578-3520.

Dow Jones Tonight for May 12 - Viral Joshi

Pivot is 8,450 and support is 8,300.

S1 8,400; S2 8,350; S3 8,300; and R1 8,450; R2 8,500; R3 8,550.

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

Nifty Future for May 12 - Viral Joshi

Pivot is 3560 and support is 3500.

S1 3550 S2 3520 S3 3500/3475 R1 3560 R2 3580 R3 3600/3620.

BUY ABOVE 3560 & IF BREAK 3570 THEN 3580 - 3600 - 3620.
SHORT BELOW 3550 & IF BREAK 3540 THEN 3520 - 3500 - 3475.

Daily moving averages:

5DMA 3630;
20DMA 3470;
50DMA 3086;
200DMA 3366.

The 4th Wave is Progressing - Rakesh Chandra

The market has behaved in a way human mass psychology does.
In the last report we said to wait for next 2 days, the market movement wouldl cool off and bears would be the winners. Yesterday was just as we expected.

Now this is is the 3rd-day consecutive decline. In the near-term this support area looks like an A wave. We would again see some upside as B wave and then again C down wave. This would be the termination of the 4th corrective wave.

With stoploss 3,637 short below 3,601.99 for lower target >3,545>>3,452>>>3,395. In the last report we had advised to take 3500 put or sell 3750 call option.

Nifty Update for May 12 - Inder Bhatia

The Indian market opened on a higher note and saw selling pressure at higher levels and closed in the red zone. For the coming session one needs to watch the 3479-3535 zone for any bounces. If Nifty closes below 3478, we could see more selling pressure and it could test 3240-3150. On the other side the 3620-3650 zone will act as resistance.

Dow Jones Tonight For 11 MAY,2009 - Viral Joshi

Pivot is 8,590 and support is 8,450.

S1 8,550; S2 8,500; S3 8,450; and R1 8,590; R2 8,650; R3 8,700.

Above 8,590 Dow is positive and below 8,550 Dow is negative.

Nifty Future For 11 MAY,2009 - Viral Joshi

Pivot is 3620 and support is 3580.

S1 3620; S2 3600; S3 3580; and R1 3625; R2 3650; R3 3680/3700;

Buy above 3625 and if it breaks 3635 then 3650 - 3680 - 3700.
Short below 3620 and if it breaks 3610 then 3600 - 3590 - 3580.

Daily moving averages:

5DMA 3650;
20DMA 3455;
50DMA 3071;
200DMA 3369.

Singh Will Not be King - Rakesh Chandra

Mercury is back on May 17-18. On the day of the election results, Manmohan Singh will be out and a new PM will be on the cards.

You would remember that on July 22, 2008 I had mentioned that Singh would win the vote of confidence and will be king.

This time the same planets are against Singh.

Is Singh King? Let us see...tare kya bolte hai.

Nifty Update for May 11 - Inder Bhatia

Buy NEYVELILIGNITE above 104.40 TGT 110>113.50 Stoploss 100.50.

Sell AMBUJA below 75.30 TGT 70>68 Stoploss 78.50.

Nifty weekly chart seen breakout and close above major downward sloping line. Next resistance 3793 and strong support 3240-3173.

Weekly: Last week sensex gained 4.15 percent and Nifty gained 4.22 % respectively. Sensex closed with a 9th consecutive weekly gain. As we mentioned last week a breakout or breakdown from range is and a target 3705 on upside was likely. We have kissed the 3700 zone and moving further we can see multiple resistances around 3800-3850.

Daily: As per daily chart we are near the upper band of the trading range from breakout pattern as shown in chart. For the coming weeks the formation of government with election results could cause an increase in volatility on the both sides, so one can wait and watch and move cautiously.

For this week, the level to watch 3535-3500 gap zone for bounces and trading above 3720 Nifty will test 3790-3820. On the lower side closing below 3520 we can see sell off toward 3420-3300 zones.

The Indian market opened on a higher note and saw a sharp correction from higher levels and close in the red zone. However the market witnessed heavy volatility in the last two trading session and closed in the red zone. For the coming session if Nifty trades below 3600 levels it can test 3567-3547. On the up side trading above 3665 it will test 3693-3715.