==>> Markets may witness some correction from next week

Markets opened strong on back of strong Global markets. US mkts closed up around 1%, Asian mkts too opened up strong. Indian mkts too opened up stong. Indices felt a bumpy ride in the intra day session. Opened up strong, but slided to almost to the -ve zone in the closing session. Sensex closed at 15103 up just 95. At a time it was high as 225 points. Sensex made a high of 15257. Nifty made and intraday high of 4636, but lost its glory in the end, and finally setteled at 4585 just 16 points up. Still, I prefer to stay cautious in the Market, as in the last 4 days trading pattern still significes that the correction may be in the making. Today also markets surged through out the day but lost its glory in the mid session. Traders are booking profits at every rise. Profit booking were seen in many of the frontline stocks. Mid caps did not perform well in todays trading session.In the last 4 days 2 Doji pattern, and 1 small Inverterd hammer pattern has been created on the recnet top, in the chart of Nifty. The RSI is trading above 70 since a long period and the MACD is also giving the sell signal in the short term. Markets are trading in the over bought position, and within sometime the markets will witness some healthy correction.

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Markets opened strong on back of strong Global markets. US mkts closed up around 1%, Asian mkts too opened up strong. Indian mkts too opened up stong. Indices felt a bumpy ride in the intra day session. Opened up strong, but slided to almost to the -ve zone in the closing session. Sensex closed at 15103 up just 95. At a time it was high as 225 points. Sensex made a high of 15257. Nifty made and intraday high of 4636, but lost its glory in the end, and finally setteled at 4585 just 16 points up. Still, I prefer to stay cautious in the Market, as in the last 4 days trading pattern still significes that the correction may be in the making. Today also markets surged through out the day but lost its glory in the mid session. Traders are booking profits at every rise. Profit booking were seen in many of the frontline stocks. Mid caps did not perform well in todays trading session.In the last 4 days 2 Doji pattern, and 1 small Inverterd hammer pattern has been created on the recnet top, in the chart of Nifty. The RSI is trading above 70 since a lon period and the MACD is also giving the sell signal in the short term.

==>> Correction on its way

Markets opened strong on back of strong Global markets. US mkts closed up around 1%, Asian mkts too opened up strong. Indian mkts too opened up stong. Indices felt a bumpy ride in the intra day session. Opened up strong, but slided to almost to the -ve zone in the closing session. Sensex closed at 15103 up just 95. At a time it was high as 225 points. Sensex made a high of 15257. Nifty made and intraday high of 4636, but lost its glory in the end, and finally setteled at 4585 just 16 points up. Still, I prefer to stay cautious in the Market, as in the last 4 days trading pattern still significes that the correction may be in the making. Today also markets surged through out the day but lost its glory in the mid session. Traders are booking profits at every rise. Profit booking were seen in many of the frontline stocks. Mid caps did not perform well in todays trading session.In the last 4 days 2 Doji pattern, and 1 small Inverterd hammer pattern has been created on the recnet top, in the chart of Nifty. The RSI is trading above 70 since a lon period and the MACD is also giving the sell signal in the short term.

==>> Sensex closed above 15000 levels for the 1st time since Sep 2008

Indian markets for today also njoied the Roller coaster ride. Indices opened week. Sensex for a point was trading 270 points down, but in the mid session pull backed smartly to close up 138 points. Nifty closed 42 points up. Nifty closed at 4570 after making a low of 4453 ( as mentioned earlier the 4450 is a very good support). Sensex for the first time after Sep 2008 closed above 15000 level. Sensex made an intra day low of 14599, but recovered smartly and closed at 15008.68.
Yesteday I have mentioned that, the candle stick patter in the chart of the Nifty suggest some correction is pending, and will get the confirmation not before today trading session. Indian markets opened week, but surged again in the late hours. Indices were trading flat in the mid session, but surged in the closing session. This does not mean that, we may not see any correction. Traders are still adivced to keep their position light. We may have seen that the frontline stocks saw serious correction in the early trades, operators offloaded their major holdings in the midcaps too.

==>> Correction may be on the way......

Its been again a volatile session in the Indian markets. Indices opened up strong but slided in the -ve zone in the mid session. Sensex rallied in the early trading hours and for the first time touched 15000 mark after September 2008. But closed down at 14870, almost flat. Nifty closed at 4534 after making a high of 4574.90. Nifty made an intra day low of 4478.60.

Before the markets opened SGX Nifty was trading at a premium of around 55 points, but lost all its gain in the mid session. Indices after opening up strong, slided to the negative zone.

Profit have been seen frontline stocks. Mid shares have been corrected in the last 2 days. Selected counters are doing very well in the market. Candle stick pattern made in the last two days are "DOJI" pattern, and that too are made on the recent top, that may suggest that the markets temporarily will take a halt, but still the pattern comfirmation will be done tommorrow only. In my last blog too, I have mentioned that the Markets will witness some correction, and we may have seen that Major of the Index based stocks have seen correction, even the midcap sharess too have seen profit booking. We would still suggest that, traders should keep their positions light.

==>> Tug of war between the buyers & sellers leads market to close flat

Markets closed flat today. Indices opened with a gap in the positive zone, but seem to lost its control, and sliped in the red zone. But recovered in the closing session and finally closed flat. Sensex closed at 34 points + at 14875 after making a low of 14608. Nifty closed at 4525 after making a low of 4451. Nifty has a good support at 4450 levels. Its been a 2nd consecutive day, Nifty have closed above 4500 levels. But still there is selling pressure above 4500 levels. Fertilises stocks outperformed the Indices. Banking stocks helped the last movement pull back rally.

The Candlestick pattern made in the Nifty chart suggests that we might see some serious correction in the near term. The clear picture will be there, not before tom. As this kind of movement indiacates the tug of war between the buyers and the seller, that leads to volatility in the market and the indices closes flat. But when this candel stick pattern is made at the top level, the markets may see some correction. Markets also have been trading in the over bought zone. Nifty has a resistane at 4558 levels. Few days back I had given some buy calls on Suzlon, Opto Circuit, Moser baer, NTPC, DCb, Satyam etc.... major of the stocks have done well, but now I would suggest to book profits, as the stock prices may come down. Do not carry heavy positions.

==>> Global markets helps Indian markets to rally

Global markets helped, Indian markets surge nearly 4%. BSE was up 520 points to closed at 14109 and NIfty closed at 4286 up 159 points. US markets were positive on back of, revial in the US consumer index. Asian markets too followed the US markets. Before opening of the Indian markets, SGX Nifty was up around 112 points. ADAG Group shares outperformed the markets. Pranab Mukherjee will be decalring budget in the 1st week of July. Operators expect markets to rally till that time. But there is profit booking at the higher levels. There has been profit booking in the last few days, that has lead the Nifty fall down to 4092 levels from the recent high of 4509 levels. Major of the stocks have been almost doubled, and the stocks are not looking cheap. IT stocks have been downgraded by many broking houses too. Nifty will continue to face resistance at the 50% retracement level. Till the time this it is not crossed, avoid having too much position.

==>> Markets closed flat

Markets closed flat for the day. Nifty closed at 4237 down by just by a point after making a low of 4205. Nifty made a high of 4270. As mentioned in the past also that the Nifty has resistance at 4280. Sensex made a high and low of 14028 and 13819 before closing at 13913 with a marginal gain of just 26 points. Once again mid cap shares performed well as compared with the Frontline stocks. Volumes were pretty close as compared to the volumes in the previous week. Volumes in BSE was Rs7300Cr & NSE was at Rs18,000Cr. Realty stocks were in focus.
Buy calls on:
1. Dcb facing stiff resistance at 42 levels. buy above 42, first target of 46.8
2. Buy Opto Circuit above 165 target 171-174-178
3. United Breweries daily chart is in the making of Cup and Saucer pattern
4. Buy Satyam above 57.35
5. Skumar above 37 tgt 42

==>> Nifty at 50% retracement level

Last week had been very good for the traders. As the Congress took the lead for the 2nd time, to take the head the government of India. Markets reacted very positively in India. On Monday, SGN Nifty was trading nearly +500 points and as the Markets opened in India, within seconds both the indices were locked into the upper circuit of 15% and reopening after 2 hrs hault, indices again locked in the upper circuit of 5%. Markets were suspended for the entire day. Next day markets opened positively and slipped in to the negative zone, but closed flat. For the next 2 days markets witnessed some profit booking. On Friday, the markets were very volatile. In the closing session indices saw some pull back rally. Nifty closed above at 4232 up 21 points
Last week, Indian markets outperformed their earlier records too in the last week. For the 1st time Indices were locked at the higher circuit. And on the next day the Exchanges for the 1st time, saw a mind blowing volumes of whoping Rs 1,50,000 crore. Volumes in the past week has been very good. Some of the stocks almost double in the last 2 weeks. If we take the Fibonacci theory from all time high made in the month of Jan 2008 i.e 6357 and the low of 2252 made in the month of Oct 2008, the 50 % retracement level comes nearly at 4320. In the last week, Nifty faced resistance at the same levels. Markets saw profit booking. Frontline stocks had a beating down, but the mid cap shares continued their rally. Some of the stocks rallied more than 50-60%.I had given buy calls on Moser Baer @ 67, DCB @ 36, Adlabs @ 308, Opto Circuit above 157.85.

==>> Finally some correction on the way

Indices closed lower around 1.50% each. Markets immediately after the opening, slide down in to the red zone. Nifty closed at 4270 after touching and intra day low of 4244.70. Sensex breached 14000 levels, made a low of 13976 down by 241 points and finally closed at 14060. Except some of the of the frontline stocks, major of the stocks were down. RIL was down nearly 6%, Bharti, Bhel, ICICI Bank, HDFC, DLF, Infosys were also down. But the case was pretty different with the other groups. Bulls were njoining there ride.

==>> Hold for any buy positions

Its been a good day for the exhanges in India. For the first time ever markets reported its highest turnover of Rs 157877 Cr. Nse cash volumes zoomed to Rs.40130 CR and BSE at 11761 CR, balance came from the F&O segment.The only person this time minted money are the exchanges. There were hardly any buyers in the marekts in the last week, coz every1 waited for the election results to be out.
The Golden polish that has been put on the markets have been wiped off. Nifty as mentioned that, it will face stiff resistance at 4450 levels. In my last blog I haver written that this rally will face heavy selling and profit booking at the higher levels. The last chart attached with the last blog shows the levels also. I have marked with the circles, where the Nifty faced resistance. In the past also we have seen that the Nifty has fallen when it crossed that level.
Nifty in the early trading session made a high of 4464 and the in the mid session surpassed the previous level and made a intra day high of 4509. But as mentioned early, lost its glory and down nearly 5 points at 4290.Sensex made a high of 14931 but closed at bearly in green with a gain of just 18 points at 14302, after gaining nearly 650 points in the early trading session. Before the mkt started, SGX Nifty was up nearly 5% with a gain of 290 points, but as soon as the Indian markets opened the Nifty and the Sensex slided i the negative zone. There has been no fundamental change in the Indian markets. This rally just due to the stable govt in India. Yes that has been a very good news, but the mkts rallying will not continue without a break. Nifty will find stiff resistance at 4450 levels. Todays Chart indicates that the rally has been halted for sometime and we might see some profit booking. Traders are adviced not to buy at this level, coz major of the stocks are almost double out in few trading sessions and investors are stucked, they will find very difficult to come of the stocks. Markets will witness correction, that can be heavy too.
Indian stocks are no more cheap intheir valuations, they are much more expensive from their all time high also. Their are trading at higher PE then they were in the month of Jan 2008. Be carefull.

Its surely been a Golden day for the Bulls in the Indian markets. Its for the first time in the Indian stock market history that the trading has been suspended for hitting the upper circuit. Within few seconds after the markets opened Nifty hit the upper circuit level of 15% and the trading was suspended for 2 hrs. Immediately after the trading hours opened again, Nifty again hit the upper circuit level of 5% more. The Nifty was up 20%. The markets were suspended for the rest of the day. Total volumes in both the exchanges was just 3100 CR, that is even less then the volumes alone in the BSE exchange in the normal days.

==>> Wait for the election results to be out

Indian mkts responded on the same line as the global markets. But remained very volatile throught the day. Sensex opened with a gap nearly 300 points in red and within few minutes the mkts bounced back. At time the sensex rallied and was only 100 points -ve. but the selling pressure remained. Traders are looking ahead for the election results. There is clearly no mood of buying in the markets. Mid cap shares did pretty good, but the frontline stocks lost their shine.
Sensex closed 146 points lower at 11873 and Nifty closed nearly 1% lower at 3593. Nifty made a low of 3537. In the last 3 days Nifty made a low of 3534. Nifty has been consolidating in a very small range. Traders are waiting for the election results. In my last blog, I have mentioned that the mkts will be see some profit booking, and the reader were adviced not to take any position in the mkt.
We can clearly see that the Nifry have faced stiff resistance at 4450 levels and this time also it wont be so easy to cross the same.

==>> Adopt an Wait & Watch

Hello readers, yes I know that i am writing after a long time, but for the past few weeks, the mkts had been in a small range . As I have mentioned in earlier blog also the Nifty will face resistance at 3600 levels, that is wat is happening in the mkt. Investors are booking profits at every rise. According to me there has been no change in the fundamental of India, that gives support to the Indian mkt rally. Major Indices have rosed to more than 25-30%, without major change in the Indian economy. IIP is at its 16yr low, exports are slashing down, consumer spending is down. Motor car sales are down, but the companies scripts have rosed more than 50%. WHY??? Reality sector as a whole is down, due to lack of buyers in the mkt, but still the Reality srcipts have almost doubled in the past few weeks.. WHY?? Is it just to raise more money from the mkt. or the operators have pulled their plugs again. When the Nifty was aroung 2900-2800 levels, all the Research firms and the technicals indicators indicated that, there will be more pain and the NIfty will fall down to 2300 levels. And now the same people are predicting the Nifty will touch 4000 -4100 levels. What had made change their view so fast, without any change in the fundamentals of India. What made the FII pore money in the Indian economy.

This is just an operator game and the pre election rally, that acc to me this rally wont last. The rally was seen because of the rumours that the COngress will lead the Government of India. If at all the news in not correct and some other party forms the govt then, the mkts will go for a toss. So till the time the, results are not outthe best thing what the people should do is to adopt a Wait & Watch strategy rather loosing out for something. Nifty is facing resistance at 3650 levels and if it stays below the same for some more trading days, then it may again fall down till 3400. But it this rally continues, Nifty can touch 3800 levels soon.