| Strong resistance above 5,100 likely | 19-NOV-09 |
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| The Nifty futures faced resistance at 5,060 and closed in a Doji pattern, indicating indecisiveness among traders. The trading volume on the futures & options segment suggests the index is set for an either side breakout in the coming days. |
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| Volatility set to rise | 26-OCT-09 |
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| A narrow trading pattern never lasts long and one high-volatility session is likely to trigger volumes expansion. |
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| Strong resistance above 4,850 likely | 09-SEP-09 |
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| The Nifty On Tuesday hit an intra-day high of 4,842 and closed at 4,805 after witnessing profit-booking at higher levels. On Tuesday trading pattern in the derivatives segment suggests that profit-booking may continue even above the 4,850 level. |
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| Mildly bullish, strong volumes | 07-SEP-09 |
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| Volumes rose during a volatile week where the market eventually closed with small net losses. At the weekend, most signals appeared to indicate bullish sentiment. |
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| Big-bang breakout likely this week | 02-SEP-09 |
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| The Nifty fell by almost 3 per cent from today’s high on a weak opening for European markets and lower Dow futures. Foreign and domestic institutional investors triggered the fall by booking profit in HDFC, HDFC Bank and ONGC. The index, however, maintained its support of 4,600 and closed at 4,625, indicating lower-level buying by bull operators. |
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| Nifty may witness fresh bounce-back | 19-AUG-09 |
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| The Nifty On Tuesday staged a bounce-back from its technical support level of 4,375 to close at 4,459 on short-covering and renewed buying in shares of auto, capital goods, realty and power companies. |
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| Nifty to move in 4,400-4,700 range | 22-JUL-09 |
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| The Nifty opened on a steady note, rose to the day’s high of 4,524 and closed 0.74 per cent lower on profit-taking in index heavyweights. However, today’s market pattern suggests that traders are not willing to sell index futures below 4,470 as average trade in Nifty July futures changed hands at 4,474. This means traders booked profits in key index stocks at higher levels but did not create fresh short positions. |
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| Bulls to take the Nifty above 4,200 | 15-JUL-09 |
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| The Nifty closed above 4,100 and thus achieved the first target of technical pullback as anticipated in this column yesterday. The strong global markets and fresh buying large cap stocks can take the index above 4,220 levels in the coming days. The Nifty is expected face strong resistance if crosses and closed above 4,300 levels. |
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| Possibility of opening above 4,000 today | 14-JUL-09 |
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| This indication has come from the futures & options (F&O) traders, who have begun to cover their short positions in index and stocks futures as well as index options. |
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| Technical pullback likely this week | 12-JUL-09 |
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| The Nifty opened on a firm note on Friday, faced resistance at 4,130 and closed near 4,000 on profit taking in oil, capital good, power and realty stocks. Technical support is expected to play a role next week for any pullback as the daily Relative Strength Index (RSI) at 37 is nearing the oversold zone. |
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| Resistance likely above 4,700 | 05-JUL-09 |
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| The market discounted weak global cues and surged ahead of the Union Budget on Monday. Index heavyweights Reliance Industries, ICICI Bank, HDFC and Larsen & Toubro led the 1.75 per cent gains in BSE Sensex & SP CNX Nifty. The Nifty cleared the resistance level of 4,350 to close at 4,424. The crossing of the 4,350 level means that the index may test the 4,450 level and close above this level on Monday. |
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| Budget uncertainty curbs open interest | 05-JUL-09 |
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| As the government’s Budget moves unfold, market participants are treading with caution. As a result, the open interest (OI) position have taken a beating during June, especially during the last few weeks. The Nifty June rollover stands at 54.86 per cent compared to 63.05 per cent in the May expiry and 74.03 per cent in April. |
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| Try to cover both directions | 01-JUN-09 |
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| There is a possibility that the market could switch direction suddenly and violently during this settlement. |
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| Between 3,500 and 3,630 till poll results | 15-MAY-09 |
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| The Nifty is holding its crucial support level of 3,500, though it has breached the 3,600 level and closed at 3,593 today. The 14-day Relative Strength Index (RSI) at end of the day chart is above 50 indicating that the market has strong support at the current level. As indicated earlier, we may see the trend reversal only if the Nifty closes below 3,500 and RSI fell below the trend ling support, which is at 50. As written earlier, the trend will reverse, if the Nifty fell below 3,500 level. |
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