Yesterday, the 5000 and 5100 put options each
added around 35,000 contracts, which is
comparatively high. On the other hand, the 5200
and 5300 call options added considerable open
interest.
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Friday, June 4, 2010
MARKETS OPENED 04/06/2010
if indices trade convincingly above 17073 / 5126 levels then indices are likely to test 17330 – 17390 /
5190 – 5220 levels. On the downside 16884 – 16826 / 5067 – 5048 levels may act support for the day.
5190 – 5220 levels. On the downside 16884 – 16826 / 5067 – 5048 levels may act support for the day.
Wednesday, June 2, 2010
MARKET ENDS 02.06.10
Our market ends a flat session of trade on a strong note following a last half an hour pull-back on the back of short covering. For most part of the day, the market however, traded within a narrow range. Sensex closed at 16774, up 201 points (provisional) and Nifty at 5027, up 57 points (provisional) from the previous close. CNX Midcap index was up 1% and BSE Smallcap index was up 0.8%. The market breadth was positive with advances at 835 against declines of 433
Tuesday, June 1, 2010
MARKETS OPENED 01/06/2010
Markets opened on a flat note and traded with choppiness to close with marginal gains. After a continuous rally of
nearly 300 points in the past four sessions, the daily charts now indicate a candle stick pattern which resembles a
“Hanging man” formation. This indicates that if the low of the “Hanging man” i.e. 16806 / 5038 is broken, then we
may witness a fall up to 16600 – 16450 / 4980 – 4940 levels. On the upside, if indices convincingly trade above
17000 / 5100 level then it may test 17200 – 17300 / 5140 – 5165 levelsBookmark
nearly 300 points in the past four sessions, the daily charts now indicate a candle stick pattern which resembles a
“Hanging man” formation. This indicates that if the low of the “Hanging man” i.e. 16806 / 5038 is broken, then we
may witness a fall up to 16600 – 16450 / 4980 – 4940 levels. On the upside, if indices convincingly trade above
17000 / 5100 level then it may test 17200 – 17300 / 5140 – 5165 levelsBookmark
BANKNIFTY FOR SUPPORT 01/06/2010
BANKNIFTY (2nd Resistance) 9340.5
(1st Resistance) 9297.2
Pivot point 9229.7
(1st Support) 9186.4
(2nd support) 9118.9
(1st Resistance) 9297.2
Pivot point 9229.7
(1st Support) 9186.4
(2nd support) 9118.9
NIFTY FOR SUPPORT 01/06/2010
NIFTY (2nd Resistance) 5104.13
(1st Resistance) 5080.17
Pivot point 5047.73
(1st Support) 5023.77
(2nd support) 4991.33
(1st Resistance) 5080.17
Pivot point 5047.73
(1st Support) 5023.77
(2nd support) 4991.33
Monday, May 31, 2010
BANKNIFTY FOR SUPPORT 31/05/2010
BANKNIFTY Support 1 9031.02
Support 1 9123.93
Pivot Point 9203.97
Resistance 1 9296.88
Resistance 2 9376.92
Support 1 9123.93
Pivot Point 9203.97
Resistance 1 9296.88
Resistance 2 9376.92
NIFTY FOR SUPPORT 31/05/2010
NIFTY Support 1 4971.9
Support 1 5006.45
Pivot Point 5030.55
Resistance 1 5065.1
Resistance 2 5089.2
Support 1 5006.45
Pivot Point 5030.55
Resistance 1 5065.1
Resistance 2 5089.2
Friday, May 28, 2010
MARKETS OPENED 28/05/2010
For second consecutive trading session market witnessed a rally which led the indices to close on a positive note.
In the coming trading session the market may face stiff resistance at the levels of 16757 / 5030. If the market
convincingly trades above this level, we may see a further rally upto 16843 - 17000 / 5050 – 5090 levels. On the
downside 16507 – 16450 / 4952 – 4938 levels may act as a support for the day.
In the coming trading session the market may face stiff resistance at the levels of 16757 / 5030. If the market
convincingly trades above this level, we may see a further rally upto 16843 - 17000 / 5050 – 5090 levels. On the
downside 16507 – 16450 / 4952 – 4938 levels may act as a support for the day.
Thursday, May 27, 2010
BANKNIFTY FOR SUPPORT 27/05/2010
BANKNIFTY Support 1 8817.5
Support 1 8912.8
Pivot Point 9001.4
Resistance 1 9096.7
Resistance 2 9185.3
Support 1 8912.8
Pivot Point 9001.4
Resistance 1 9096.7
Resistance 2 9185.3
NIFTY FOR SUPPORT 27/05/2010
NIFTY Support 1 4828.82
Support 1 4872.93
Pivot Point 4898.97
Resistance 1 4943.08
Resistance 2 4969.12
Support 1 4872.93
Pivot Point 4898.97
Resistance 1 4943.08
Resistance 2 4969.12
MARKETS OPENED 27/05/2010
Markets opened up with a gap and witnessed a sharp short covering rally which led the indices to close on a
strong note. On the daily charts, we have seen that prices have taken support on the lower trendline of the
channel and have bounced back. The trend still remains in lower top lower bottom cycle in daily charts but an
extended pull back up to 16551 to 16673 / 4962 to 4997 can be expected once indices trade above 16410 / 4926
levels. On the downside 16000 / 4800 remains crucial support level
strong note. On the daily charts, we have seen that prices have taken support on the lower trendline of the
channel and have bounced back. The trend still remains in lower top lower bottom cycle in daily charts but an
extended pull back up to 16551 to 16673 / 4962 to 4997 can be expected once indices trade above 16410 / 4926
levels. On the downside 16000 / 4800 remains crucial support level
Tuesday, May 25, 2010
BANKNIFTY FOR SUPPORT 25/05/2010
BANKNIFTY Support 1 8874.92
Support 1 8977.43
Pivot Point 9133.72
Resistance 1 9236.23
Resistance 2 9392.52
Support 1 8977.43
Pivot Point 9133.72
Resistance 1 9236.23
Resistance 2 9392.52
NIFTY FOR SUPPORT 25/05/2010
NIFTY Support 1 4842.42
Support 1 4886.73
Pivot Point 4954.87
Resistance 1 4999.18
Resistance 2 5067.32
Support 1 4886.73
Pivot Point 4954.87
Resistance 1 4999.18
Resistance 2 5067.32
Thursday, May 20, 2010
MARKETS OPENED 20/05/2010
Markets opened gap down and selling pressure intensified below 16680 / 4980 levels which dragged the indices
to close deep in red below the 200 day SMA. On the daily chart we are seeing a continuation of lower top lower
bottom formation which clearly indicates weakness. As mentioned in the previous daily report, we now expect
indices to test lower levels of 16200-16150 / 4850 – 4800 in the next few trading sessions. Since the hourly
charts are highly oversold a bounce up to 16540 – 16580 / 4972 – 4990 cannot be ruled out. Aggressive traders
may consider any weakness near these levels to go short for a target of 16200-16150 / 4850 – 4800 levels
to close deep in red below the 200 day SMA. On the daily chart we are seeing a continuation of lower top lower
bottom formation which clearly indicates weakness. As mentioned in the previous daily report, we now expect
indices to test lower levels of 16200-16150 / 4850 – 4800 in the next few trading sessions. Since the hourly
charts are highly oversold a bounce up to 16540 – 16580 / 4972 – 4990 cannot be ruled out. Aggressive traders
may consider any weakness near these levels to go short for a target of 16200-16150 / 4850 – 4800 levels
Wednesday, May 19, 2010
BANKNIFTY FOR SUPPORT19/05/2010
BANKNIFTY Support 1 9345.12
Support 1 9419.73
Pivot Point 9499.87
Resistance 1 9574.48
Resistance 2 9654.62
Support 1 9419.73
Pivot Point 9499.87
Resistance 1 9574.48
Resistance 2 9654.62
NIFTY FOR SUPPORT 19/05/2010
NIFTY Support 1 4973.33
Support 1 5018.37
Pivot Point 5062.98
Resistance 1 5108.02
Resistance 2 5152.63
Support 1 5018.37
Pivot Point 5062.98
Resistance 1 5108.02
Resistance 2 5152.63
MARKETS OPENED 19/05/2010
Markets opened on a subdued note traded with enhanced choppiness to close marginally in green. On the daily
chart after a Hammer candlestick formation we are now witnessing a narrow range body which suggests
indecisiveness prevailing at current levels. In the coming trading session if indices trade convincingly above
17000 / 5105 levels then a bounce up to 17162 - 17250 / 5120 -5150 levels. We maintain our view that selling
pressure will intensify on any daily closing below 16684 / 4984 levels.
chart after a Hammer candlestick formation we are now witnessing a narrow range body which suggests
indecisiveness prevailing at current levels. In the coming trading session if indices trade convincingly above
17000 / 5105 levels then a bounce up to 17162 - 17250 / 5120 -5150 levels. We maintain our view that selling
pressure will intensify on any daily closing below 16684 / 4984 levels.
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