Indian Markets for May 31 2016

The day traders may go long if the Nifty trades above 8181 for the possible targets of 8220. They may short the nifty if it trades below 8165 to cover at 8140.

The short term traders may ride their longs and add more in case of weakness with stop loss at 7950. The target is 8240. They may consider going long in Hero Motors with strict stop loss at 3035 for a possible target of 3240.

The mid-term investors may add HDFC Bank at 1156.70 and 1101.05, Indusind at 1067.60 and 1021.45 and Yes Bank at 993.05 and 957.85- all  in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Indian Markets For the week May 30 2016 to June 3 2016

Thee immediate support for the benchmark index is now at 7956 below which, we have a series of  new support points at 7880, 7863, 7764, 7695 and 7337. On the upside the immediate resistance is at 8240 which if conquered may propel Nifty towards new highs. However, as of now we do not see much of an upside this week beyond the resistance of 8240 and chances of profit booking from the 8240 levels cannot be ruled out.

The intraday traders may go long if the index trades above 8135 for a target of 8185. They may go short if it trades below 8130 to cover at 8105.

The short term traders may consider playing it on the long side with stop loss at 7880 for the target of 8240. They may also go long on Zee with stop loss at 445 for a target of 481.35.

The mid-term investors may continue selling HDFC Bank at 1205.6 and Goldman Sachs Nifty ETF at 838.20 in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Indian Markets for May 25 2016

That the support of 7700 has by far held, we can safely presume that chances for further downside in the immediate term are remote. The day and short term traders may open fresh longs in Nifty in June series with strict stop loss at 7720 for a possible target of 7840. 

It may be kept in mind that settlement of F&O series of May is due on May 26 2016. 

 Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Indian Markets For the week May 23 2016 to May 27 2016

The supports for the week are at 7700, 7642 and 7271 and the resistances are at 7862 and 7872. It is further stated that all traders must exercise caution as the settlement of F&O series of May 2016 is due on May 26 2016 and therefore the erratic movement and volatility cannot be ruled out.

The day traders may go long if the Nifty manages to stand above the 7770 mark in the wee hours of trade today to book profits at 7790. They may short the market if it trades below 7755 to cover at 7720.

The short-term traders may go long if the index trades above 7790 for a target of 7850. They may however short the nifty if it trades below 7700 for a target of 7642.

The mid term investors may consider buying HDFC Bank at 1118.75 and 1091.65 and Grasim at 4167.25 in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Indian Markets for May 19 2016

The Nifty continues to be bullish with a little more upside left. However, we advice all the traders to exit their longs at around 7950 as it continues to be a stiff resistance.

The day traders may go long if the Nifty trades above 7890 to book profit at 7925. They may however short the Nifty if it trades below 7850 to cover at 7835.

The short-term traders may ride their longs with stop loss at 7830 for the target of 7950.

The mid term investors may consider buying Zee at  422.05 and 405.55 in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

India Markets for May 17 2016

The day traders may go long if the Nifty trades above 7865 for a possible intra-day target of 7898. However, if the Nifty trades below 7830 then they may short the Nifty intraday to cover at 7808.

 The short term traders may go long with strict stop loss at 7800 for a possible target of 7950.

The mid -term investors may continue selling HDFC Bank at 1174.65 and 1186.45 in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Nifty for the week May 16 2016 to May 20 2016

That the benchmark index did not breach the 7629 support and mostly remained above the 7769 mark throughout the week and on closing basis implies that the markets are not weak although a few technical parameters of the market did give a weak signal post the previous session. However, the weakness can only be confirmed of the Nifty trades below 7798 mark in the opening session and trades below it with volumes.  On the other hand the index must remain above 7865 mark to stay in the bullish mode in the opening trades.

The day traders and the short-term traders may trade accordingly. If the Nifty stands above 7865, then they may go long with stop loss at 7815 for a day target of 7903 and short-term target of 7956. They may however go short if Nifty trades below 7798 with stop loss at 7830 for an day target of 7772 and short-term target of 7832 and/ or 7769. The short-term traders may consider going long in Asian Paints with strict stop loss at 910 for a possible target of 972.

The mid-term investors may consider adding Grasim at 4167.20 and 4094.60 in small quantities. They may also consider buying Eicher Motors at 18968 and 17055 in small quantities. They may consider offering HDFC Bank at 1165.85 and 1178.15 in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Indian Markets for May 13

The benchmark index, the Nifty must trade above 7890 mark for bulls to be in action in which case the intra-day targets are 7932 and 7955. If Nifty trades below 7871, then there will be opportunities for bears to cover their shorts at 7835.

The mid-term investors may offer  Asian Paints at 932.45, Grasim ay 4317.85, HDFC Bank at 1154.55 in small lots.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Indian Markets for May 12 2016

That the support of 7761 held intra-day in the previous session implies that the index is poised to move up north a bit more and good cause for cheer for bulls. However, the markets may start today somewhat soft and weak.

The immediate support for the day is at 7815, below which the index may find the next support at 7788 or 7761. On the other hand above 7863, the Nifty may climb up to 7993 and 7950.

The day-traders as well as short-term traders may trade accordingly.

The mid term investors may consider offering Grasim at 4310.45, HDFC Bank at 1152.10 and Asian paints at 918.65- all in small quantities equal to 10% of your holdings in the respective share.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Indian Markets for May 11 2016

The Nifty behaved as expected in our previous post. We continue to expect the benchmark index to move towards the next resistance of 7950. 

The intraday traders may however go long with strict stop loss at 7865 with a target of 7910. They may short nifty only if it trades below 7850 in which case the immediate support is at 7814.

The short term traders may continue on the long side and raise their stop loss to 7850. The target continues to be 7950.

The mid term investors may offer Asian Paints at 914.85, Grasim at 4297.20, HDFC Bank at 1154.25 and Goldman Sachs Nifty ETF at 807.57- all in a tranch of 10% of their entire holdings in the counter.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Indian markets for May 10 2016

The market did indeed behave in expected lies as indicated in our weekly post, where we had emphasized that the markets will go up and that an intermediate bottom has been made for the immediate term. The Nifty went up to our specified resistance of 7872 (it made an intra-day high of 7873 before closing at 7866.05).

We expect the Nifty to continue in its up move with the next resistance at 7950.

The day traders may go long with stop loss at 7830 for a possible target of 7908. However, if the index slides below 7820 then they may short the Nifty to cover it at 7788.

The short term traders may continue to ride their longs in Nifty and increase their stop loss to 7752 for a possible target of 7950.

The mid term investors may continue to offer Asian Paints at 935.65, Grasim at 4254.65, HDFC Bank at 1161.25 and Goldman Sachs Nifty ETF at 814.57- all of these in small lots of 10% of their entire holdings in these counters.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Nifty for the week May 9 2016 to May 13 2016

The upside in the benchmark index indeed got capped, quite in line with our expectation in our previous weekly post. However, chances of early recovery from these levels cannot be ruled out indicating that the intermediate bottom is in place and the Nifty may aim for the resistance of  7872 which if conquered will see Nifty once again on an uptick with a possible target of  7956. However. if the Nifty slips below 7695 then the supports are at 7629 and then at 7271.

The day traders may go long if the Nifty trades above 7720 to book profit at 7765. However below 7794 they may short the Nifty to cover it at 7668.

The short-term traders may go long in Nifty in case of weakness with strict stop loss at 7600 for a possible target of 7850.

The mid-term investors may consider offering Asian Paints at 898.85. 907.65 and Goldman Sachs Nifty ETF at 808.69 and 818.78 in trenches of 10% each of their total holdings. 

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Nifty for May 3 2016

The benchmark index as well as the market in general seems to have gone for a bit of downside. The immediate support is at 7795 which if broken may see further weakness set into the market which will drag it down to 7698 levels which happens to be the next support. Supports thereafter are at 7629 and 7271.

However if the Nifty trades above 7810, then the day traders may go long in Nifty to book profits at around 7840 and 7880 as the case may be. Otherwise they may go short to cover it at 7765.

The short-term traders may continue to short the Nifty with stop loss at 7920 with a possible target of 7700.

The mid term investors may continue to trade as indicated in our weekly post. (click on this link for the weekly post).

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.