NIFTY OUTLOOK (27th August, 2012)

NIFTY SPOT AGAIN CLOSED BELOW TREND LINE LEVEL AT 5397: NIFTY DOING TIME PASS

The NSE Nifty spot closed at 5387 down by 0.50% on the weekend. Volume was normal, movement was fair, indicators were showing positive. In spite of that nifty spot closed below trendline level i.e. 5397 again. This seems, nifty spot is doing just time pass. Before few days, nifty crossed major trend line resistance with normal volume. It indicated about new uptrend. But now nifty is below that level, this is not the downtrend. So, medium term traders should beware from the uncertain volatility and they are recommended to be stay away for some time to save margins.

Happy Trading !!

Megha Investments & Research Team

 

NIFTY OUTLOOK (24th August, 2012)

NIFTY SPOT MADE STAR: WILL AGAIN FACE CORRECTION ?

The Nifty spot closed at5418 with normal volume. This time nifty spot made a star from the higher levels. Below nifty spot, there is a trendline support which was already indicated as 5397 and on the other hand, lower indicators are trying to make correction trend i.e. downward. This time, intraday trades are not advised to make a new position in nifty future. If there is a long position in nifty future, maintain stoploss at 5397/5374. This is fair movement about moving above daily important moving averages. Next trading session's movement will be basically on global market and upcoming news and rumors. So, Kindly be cautious about making new positions.

Happy Trading !!

Megha Investments & Research Team

 

NIFTY OUTLOOK (23rd, August, 2012)

NIFTY SPOT SUPPORTS AT 5397: NOW WHAT NEXT ?

Nifty spot closed at 5415, which is above the major support level at 5397 with normal volume. Intraday traders can buy nifty future with the support of 5397 nifty spot.  Nifty is now have a open garden till 5600 level until it doesn't break and close below 5397 with normal volume. On the other hand, stochastic is trying to maintain up trend which shows how stochastic is struggling to make bullish trend. MACD is making zig-zag pattern, first time in a year, which is not seriously giving any trend. If we look in to the support and resistances, support is defined whereas resistance will be at 5448 for next trading session.

Happy Trading !!

Megha Investments & Research Team

NIFTY OUTLOOOK (21st August, 2012)

Every Eyes On Nifty Spot: Will It Reach To 5600 ?

In previous trading session, we have seen some choppy volatility, both buying and selling pressure on uncertainty of Government and economical issues. Nifty spot closed at 5366 after touching to 5400 which was crucial level for bullish trend. But after all, Nifty spot closed below the major trend line resistance. After seeing this movement, we can't conclude this report by saying bullish trend. But it can be said that 5397 is made a very crucial level for bullish trend. If we analyze daily lower indicators, MACD is still showing upward move whereas stochastic is making zig zag pattern for uncertain trend. In next trading session, Intraday traders are advised to sell nifty future at higher levels if nifty spot opens below 5400 level. Trade in lower volume due to higher uncertainty of trading session.

Happy Trading !!

Megha Investments & Research Team