On the Indian Stock market...

The market took support yesterday at 5661.5  as against our predicted support of 5660.

Today the Nifty is poised for a possible breakout, a negative breakout seems more likely although whether it will be a positive or negative breakout depends on which side of the 5690 mark the market trades with good volumes.

Above 5690 the market will face resistance at 5776 and 5815 whereas below the 5690 mark will market will sell out sliding down towards the 5558 mark with minor supports at 5629 and 5597.

Short term traders may play accordingly with eye on volumes with respect to which side of 5690 mark the Nifty trades.

Mid-term investors may bid HCL tech at 922.65 and TCS at 1798.55

On the Indian Stock market........

The market was weak as predicted in our previous post. It met resistance at 5761.85 as against our predicted resistance at 5758 and then it went down to 5649 and the short-term traders who covered their shorts at lower levels, as advised might have profited while opening long positions.

The immediate resistance today will be at 5696, which if overcome may see the benchmark index go up to 5747 and 5780 and 5809.

If it fails to conquer 5696 then it will drift to lower levels with supports at 5660, 5630 and 5583.

Our outlook continues to be weak with few flashes upwards and new bottoms.

The short term traders may close long positions in every bump up and open fresh shorts at higher levels.

The mid-term investors may bid HCL Tech at 919.10, HDFC Bank at 618.70, ITC at 318.95 and TCS at 1782.55 in small quantities.

A tale for the time being... book review.

A Tale for the Time Being

by Ruth Ozeki

There is a diary in a lunchbox which Ruth finds washed onto a beach. As she reads it the reader gets riveted to the mystery of Nao, a woman in Tokyo, who wrote the diary so that someday someone will find it and find her through it.

Compelling read, the book is in the long list of the Man Booker award of 2013 and chances of it making through cannot be ruled out. 

We give it a clean 9.5 in a scale of 10

Weekend music..

Lucius: Two of us on the run

Interstate...

Interstate

Half-eaten fries, the remains of hash browns,

fill the table's distance between them.

She scoops the car-keys, says she'll not be long.

In the washroom mirror she checks her face

close up; sees years of wearied waiting.

She steps into a sticky afternoon.

How long before he'll notice, before he'll ask –

the forecourt is nauseous with diesel and ocean –

ask if anyone's seen a woman in middle years.

She's onto the freeway, jittering across lanes.

And why, he'll wonder, now that the kids are gone,

now that they're free to hit the road each spring.

She overtakes on automatic, clearing Carolina –

recalls the one dream he has left, of building a boat;

upriver in summer; dry dock in winter. The two of them.

An unforeseen calm settles with sundown: she longs

for nightfall on unbroken stretches of highway.

It's clear ahead as far as her eyes can see

.....Anne-Marie Fyfe's

                           Interstate is from her latest collection 

                 Understudies: New and Selected Poems, 2010 

On the Indian Stock market...

We had advised the intra-day traders yesterday to short at higher levels and those who follow our blog might have made it big, especially when all the analysts were hooting bullish. (click here to confirm )

The market is still looking weak as no clear signs of a bullish up move are visible as yet. But no bearish signs are visible either. Our outlook continues to be of consolidation with possible lower bottoms.

However, the moot point for the immediate trend for the day depends on which side of 5737 point the market trades. Once above this point, it might face resistances at 5758, 5798 and 5825.

A dip below the 5737 mark then it may further go down with supports at 5712 and 5666.

The short-term traders are advised to cover their short positions in case of weakness and start picking long positions albeit in small lots.

The mid-term investors are advised to bid HCL Tech at 919.10 and TCS at 1782.55

On the Indian Stock Market...

Guys guys! Once again we were pretty accurate in predicting the support; we had predicted the support at 5674 in our last post and the Nifty bounced right from 5675.75. (our last post.. click here to confirm)

Those who have been following our advice might have made quite a killing for we had been advocating short trades for the past few sessions.

The direction of trade primarily depends on whether the immediate support of  5723 holds or not. If it is breached then we might see further erosion with further supports at 5704, 5694 and 5647.

However, if the benchmark index manages to stick it's head above the 5723 mark then we may see it go up north with a bit of resistance at 5770, 5790 and 5825.

If you like our work then kindly subscribe to the blog, so that we may know the kind of response we are getting to encourage our team.

Our outlook is that the market may consolidate at lower levels with possible lower lows. 

The intra-day traders are advised to  trade on short side as the market may remain weak. One may book profits at lower bottoms and short at higher levels in case of a pull back with stop loss at 5842.

The medium-term investors are advised to take advantage of the current weakness and bid HCL Tech at 918.45, HDFC Bank at 587.05, ITC at 318.95 and TCS at 1805.51 and 1781.20 in small quantities.