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.