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NIFTY-FEB F&O-1ST BUYING OF 04-02-2011-TRADE
NIFTY(FEB FUT-BUY-BTST)SL-5324-TGT-5515-CMP-5365
NIFTY(FEB CALL OPTION-BUY-BTST)-S.P.FOR CALL-5400,5500-NIFTY(FEB FUT)-RATES ARE
FOR SL-5324-TGT-5515 FOR ALL OPTIONS-CMP-5365
(NO COVERING TODAY.COVERING WILL BE DONE IN NEXT WEEK)
NIFTY(FEB CALL OPTION-BUY-BTST)-S.P.FOR CALL-5400,5500-NIFTY(FEB FUT)-RATES ARE
FOR SL-5324-TGT-5515 FOR ALL OPTIONS-CMP-5365
(NO COVERING TODAY.COVERING WILL BE DONE IN NEXT WEEK)
Pre-Open Market Outlook(04-02-2011)
Following lines were told yesterday after last hour sharp fall following A.Raja arrest one day before:-
"Reasons for next bullish market view have been posted in previous outlooks and expecting rally in the coming weeks after sustaining above 5460."
Technically nothing was left to hope for bull markets except Wave-3 trend line(5460) and I non stop continuously told for the expectations of its survival. It was broken down but Nifty could not sustain below it and recovered nicely yesterday.
Technical requirements for next rally are as follows:-
1- Sustaining above 5460.
2- Sustaining above 200-day EMA(5643).
3- Crossing next resistance range(5680-5800)
As I have already told many times that Jan 2011 sharp down moves are only result of non stop big negative news. Last month begun with strong Bullish outlook and finished with most Bearish notes. Last month sharp falls are only on negative news based without much distribution patterns therefore resistances at higher levels are not much stronger. Let rally begun then sharp upmoves will be seen.
'ABC' correction was on for the last 4 months and its 'c' wave has been finished in last 3 sessions move near 5460. Fresh rally expected after 4 months correction completion.
Positive closing expected today.
RIL & ICICI BANK-FEB F&O-1ST BUYING OF 02-02-2011-COVERING
RIL & ICICI BANK- FEB F & O(BOUGHT ON 02-02-2011)-COVER AND BOOK PROFIT IMMEDIATELY-CMP-937 & 1032
Hold all long trades which I have given
I always post covering message therefore wait only for that.
TATA MOTORS-FEB F&O-1ST BUYING OF 02-02-2011-COVERING
TATA MOTORS- FEB F & O(BOUGHT ON 02-02-2011)-TARGET ACHIEVED.COVER AND BOOK PROFIT IMMEDIATELY-CMP-1130
Pre-Open Market Outlook(03-02-2011)
Indian markets traded strong after gap up opening but A.Raja arrest news spearheaded bulls in last half hour and Indian markets closed with minor gains yesterday. Lot of uncertainity due to Raja arrest and Egypt internal problems therefore first of all 5460 will be watched because that will give 100% confirmation that Wave-3 trendline is survived or not. All crociaal supports have broken dowm and only 5460 is left as well as Nifty is hovering around for the last 3 sessions.
Inflation data today therefore some amount of voltality will also be possible. As per my view sustaining beyond 5460 should be watched today because news based voltality is high and intraday charts are also showing mixd formations.
Reasons for next bullish market view have been posted in previous outlooks and expecting rally in the coming weeks after sustaining above 5460.
RCOM-FEB F&O-1ST BUYING OF 02-002-2011-TRADE
RCOM(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-115.90-TGT-128-S.P.FOR CALL-120,130-CMP-119.45
(ALL RATES ARE SPOT)
(ALL RATES ARE SPOT)
ICICI BANK-FEB F&O-1ST BUYING OF 02-002-2011-TRADE
ICICI BANK(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-988-TGT-1058-S.P.FOR CALL-1000,1150-CMP-1015
(ALL RATES ARE SPOT)
(ALL RATES ARE SPOT)
RIL & TATA MOTORS-FEB F&O-1ST BUYING OF 02-002-2011-TRADE
RIL(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-894-TGT-948-S.P.FOR CALL-920,940-CMP-918
TATA MOTORS(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-1168-TGT-1128-S.P.FOR CALL-1100,1150-CMP-1086
(ALL RATES ARE SPOT)
TATA MOTORS(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-1168-TGT-1128-S.P.FOR CALL-1100,1150-CMP-1086
(ALL RATES ARE SPOT)
Pre-Open Market Outlook(02-02-2011)
ABC correction is on and Wave-3 trendline broken(5460) down yesterday after sustaining below 200 day EMA(5646). Yesterday candle was Engulfing Bearish and it is also bearish move indication. All the technical indicators are signalling bearish market begining but following mild signals are telling for wait and watch a little before forming bearish market view:-
1-Although Indian markets closed more than 1% down yesterday but intraday charts of yesterday are not suggesting selling patterns therefore yesterday trading range(5400-5450) should be watched for bearish market confirmation.
2- Indicators are oversold and some are showing divergence also therefore bounce back posibility can not be ruled out.
Conclusion:-
All the confirmations of bearish markets begining but still Bullish markets expected because no Distribution pattern and only correction patterns. Still expecting rally and breaking out of 5400-5450 will be watched first for next immediate move confirmation.
Pre-Open Market Outlook(01-02-2011)
When all the global markets were crashed then following lines were told yesterday. As relevant therefore repeating:-
1- Pre-Open Outlook:-
1- "As other markets were overbought therefore their correction was natural but Indian markets are oversold and will react this news in another manner"
2- "Sentiment completely depressed today morning and sustaining beyond 5460(spot) will decide fate of long term trend"
2- Mid-session Outlook at 12:15 pm:-
1- "Nifty opened and firstly traded below 5460 in deep depressed sentiments today morning and got intraday support at lower levels. All supports have been broken and only Wave-3 trendline support is left which is at 5460"
2- "Nifty opened and firstly traded below 5460 in deep depressed sentiments today morning and got intraday support at lower levels. All supports have been broken and only Wave-3 trendline support is left which is at 5460"
3- "Let more consolidation and support emerge then up move expectations will certainly be considered despite crashing global markets and Egypt internal problems"
Intraday charts of yesterday are showing genuine buying patterns and good support was seen at lower levels as well as good recovery seen before closing near trading high of the day. All this has given strong indication of 'ABC' correction completion but not sufficient and sustaining above 200-day EMA is must for on going uptrend confirmation.
As no distribution pattern in last 4 months EOD chart and 'ABC'correction seen therefore fresh rally possibility is alive after emergence of correction completion signals in last 2 sessions. Detailed analysis has been posted in weekly and 200-day EMA testing is possible in the coming sessions. Sustaining above 200-day EMA is must now for confirmation of mentioned uptrend.
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