NIFTY OUTLOOK (6th November, 2012)

NIFTY REMAINED BULLISH, BUT BEARISH IN MAJOR STOCKS: HURDLE @ 5712

The NSE Nifty spot closed at 5702 up by 0.1% with the selling pressure in Banking and Finance sector. In the technical tools, Stochastic (5.3.3) is making negative diversion, whereas MAD (12.26.9) is still showing negative trend for Nifty spot. 5632 will be major support for intraday traders. Medium term traders can make short position with the stop loss of 5712 as per spot chart; target would be 5583 for 3-4 days. Overall trend is positive.

Happy Trading !!

Megha Investments & Research Team

NIFTY OUTLOOK (2nd November, 2012)

NIFTY STILL TRYING TO SUSTAIN AGAINST SELLING: AGAIN IN OLD RANGE

The NSE Nifty spot closed at 5643 up by 0.40% with the marginal volatility. If we analyze the nifty spot movement in intraday time horizon, nifty is trying to sustain against selling pressure and now entered in old range of 5635 to 5751. This is not clearly indicating a particular trend of nifty spot. Some stocks rise and some make low. In this regard, intraday traders are advised to be stay away from market and enjoy their holiday for some period of time till market acts with greater volatility  in intraday basis.

 

Happy Trading !!

Megha Investments & Research Team

 

NIFTY OUTLOOK (1st November, 2012)

SMALL SHORT COVERING IN INDEX STOCKS: STILL NIFTY WEAK

The NSE Nifty spot closed at 5615 with marginal volatility in major index stocks. There is no view for tomorrow in nifty spot. If we see technical, Stochastic is trying to cross from below and made a perfect negative diversion in nifty spot. Whereas MACD is still showing negative trend as per continue in trend. Intraday traders should not keep their positions for next day or positional. There is a movement of higher low and higher high from couple of months in nifty spot daily chart. Overall trend is positive in nifty spot.

Happy Trading !!

Megha Investments & Research Team