NIFTY OUTLOOK (4th August, 2012)

NIFTY STILL BEARISH: CLOSED BELOW DAILY EMA (34)

The NSE Nifty spot closed at 5245 down by 0.3% with the heavy selling pressure and closed at low, which shows the negative trend for some period of time. On the other hand, MACD (12.26.9) is also showing negative trend and Stochastic (5.3.3) is moving below the oversold zone This clearly indicates about further more selling in coming trading sessions. 5209/5166 are the support levels for medium term period. Nifty spot is facing 5311 as hurdle. Intraday traders are advised to make short position on higher levels for intraday profits. As we see and analyze this negative trend, it looks like nifty may come 5150 level in coming sessions. Market is moving scrip wise.

Happy Trading !!

Megha Investments & Research Team

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NIFTY OUTLOOK (3rd September, 2012)

UNCERTAIN TREND IN INTRADAY EVEN AFTER BULLISH PATTERN IN DAILY

The NSE Nifty spot closed at 5259 down by more than 1% in the weekend with the higher selling pressure. On this selling pressure, we can assume the probability of uncertain trend even after bullish patterns in the nifty spot candle stick price pattern chart. This selling was seen after bullish piercing pattern which was indicates about more selling in certain stocks. Short term traders are advised to be very cautious about making positions for short period of time. Nifty spot is now below daily EMA (34) which is bearish. On the other hand, MACD (12.26.9) is signaling bearish trend, whereas Stochastic (5.3.3) is showing zig-zag pattern in the over sold zone which is negative parameter for the nifty spot. For today, major hurdle for nifty spot will be 5311 and support will be 5209.

Happy Trading !!

Megha Investments & Research Team

 

NIFTY OUTLOOK (31st August, 2012)

NIFTY SPOT LOOKS BULLISH: BULLISH PIERCING IN DAILY

The NSE Nifty spot closed at 5319 up by 0.60%, after sudden buying pressure or can say short covering. After all nifty spot closed above the daily 34 day exponential moving average, which is a positive factor for long position holder. Nifty spot actually faced 61.8% retracement level as resistance @ 5286, as indicated in previous report. In previous report, we have recommended buy in deep strategy for intraday traders, whereas for low risk taker are advised to be long after the break out of 5286 level. These were good trades. Now, Nifty will move towards till 5400 level with strong buying pressure with the supports of 5311/5286 in the next trading session. If traders are stay invested in nifty future, they are advised to make hold position. A good positive technical pattern was seen in nifty spot i.e. bullish piercing. By this pattern, nifty can touch till the level of 5400 and perform better. In the lower indicators, MACD (12.26.9) is still showing bearish signal, whereas stochastic (5.3.3)is trying to break out from the bottom level @ 21.23, which is more or less positive factors for bullish trend.

Happy Trading !!

Megha Investments & Research Team