On the Indian Stock Markets. January 3.

As we had been advocating, there was a clean breakout in the previous session and as the direction was not clear, the benchmark index first touched 6358 before loosing all gains. The only takeaway for the bulls is that the key support of 6214 did hold on the closing basis.

The immediate resistance for the day is at 6263 and below this point the Nifty will continue to be weak and at best in consolidation mode with supports at 6217, 6177 and 6141. Otherwise i.e. above 6263, it will still remain weak and consolidate with resistances at 6302 and 6315.

Intra-day traders are advised to play on the short side with stop loss at 6263.

Short-term traders too may play it on the short side but with stop loss at 6302.

Mid-term investors may consider buying Tata Steel  @ 412.30 and 393.8 and Maruti @ 1734.85 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.

The Pretenders- I'll stand by you.

The Pretenders

 perform 

I'll Stand By You

The lyrics

Oh, why you look so sad?

Tears are in your eyes

Come on and come to me now

Don't be ashamed to cry

Let me see you through

'cause I've seen the dark side too

When the night falls on you

You don't know what to do

Nothing you confess

Could make me love you less

I'll stand by you

I'll stand by you

Won't let nobody hurt you

I'll stand by you

So if you're mad, get mad

Don't hold it all inside

Come on and talk to me now

Hey, what you got to hide?

I get angry too

Well I'm a lot like you

When you're standing at the crossroads

And don't know which path to choose

Let me come along

'cause even if you're wrong

I'll stand by you

I'll stand by you

Won't let nobody hurt you

I'll stand by you

Take me in, into your darkest hour

And I'll never desert you

I'll stand by you

And when...

When the night falls on you, baby

You're feeling all alone

You won't be on your own

I'll stand by you

I'll stand by you

Won't let nobody hurt you

I'll stand by you

Take me in, into your darkest hour

And I'll never desert you

I'll stand by you

I'll stand by you

Won't let nobody hurt you

I'll stand by you

Won't let nobody hurt you

I'll stand by you

On the Indian Stock Markets. January 2.

The benchmark index continued to be inconclusive. The tipping point for the day is at 6310. Our outlook continues to be the same as we had stated in our previous post.

Intra-day traders may go long only if the Nifty holds above 6310 with stop loss at 6284. However, they may go short only if Nifty conclusively trades below 6298 with stop loss at 6316.

Short-term traders may continue to trade long with stop loss at 6214. They may go short only if Nifty falls below the 6214 mark with stop loss at 6250.

Mid-term investors may utilize any up-spike to rid their portfolio of non-performers.

In case of weakness, they may consider buying HDFC Bank @ 637.25.

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.

Old Tunes by Sara Teasdale

On the Indian Stock Markets. January 1

We wish the followers of this blog a very Happy and Prosperous 2014

The benchmark index remained inconclusive for the sixth session in a row. However, the technical charts are now indicating that a breakout from the tight range of 6259- 6344 must be there today, direction of breakout is indeterminable. The tipping point for the day is at 6303.

Intra-day traders may go long only if the Nifty holds above 6307 with stop loss at 6284. However, they may go short only if Nifty conclusively trades below 6298 with stop loss at 6316.

Short-term traders may continue to trade long with stop loss at 6214. They may go short only if Nifty falls below the 6214 mark with stop loss at 6250.

Mid-term investors may utilize any up-spike to rid their portfolio of non-performers.

In case of weakness, they may consider buying HDFC Bank @ 637.25.

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.

  

On the Indian Stock Markets. December 31.

The benchmark index must trade conclusively above 6303 mark in the initial hour of trade for the market to go further up, in which case the resistances will be at 6332, 6373 and 6403. Otherwise, the market will remain weak and bearish with supports at 6261, 6231 and 6190.

Intra-day traders may trade accordingly depending on which side of the 6303 mark the index trades. But one may not go long unless and until the Nifty trades above 6309 mark conclusively with strict stop loss at 6303. Otherwise they may go short with stop loss at 6316.

Short-term traders may continue to trade long with stop loss at 6214. They may go short only if Nifty falls below the 6214 mark with stop loss at 6250.

Mid-term investors may utilize any up-spike to rid their portfolio of non-performers.

In case of weakness, they may consider buying HDFC Bank @ 637.25.

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.

On the Indian Stock Markets. December 30

The key resistance of 6306 was finally taken out in the last session.

The benchmark index must trade conclusively above 6309 mark in the initial hour of trade for the market to go further up, in which case the resistances will be at 6329, 6345 and 6365. Otherwise, the market will remain weak and bearish with supports at 6293, 6273 and 6258.

Intra-day traders may trade accordingly depending on which side of the 6309 mark the index trades. In case if Nifty trades above 6309 mark conclusively then they may trade on the long side with stop loss at 6280. Otherwise they may go short with stop loss at 6315.

Short-term traders may continue to trade long with stop loss at 6300. They may go short only if Nifty falls below the 6214 mark with stop loss at 6250.

Mid-term investors may utilize any up-spike to rid their portfolio of non-performers.

In case of weakness, they may consider buying HDFC Bank @ 637.25.

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.