Nifty update

Yesterday our longs got triggered at 5133 and today we have achieved our 2nd target of 5385. We have booked partially @ 5385 and holding the rest quantity with TSL @ 5285 on closing basis.


We will initiate buying puts around 5433-5488 levels as this area would be bringing some difficulties for nifty with stop-loss @ 5500  on closing basis.

Here is the updated chart.....

Nify spot

In my earlier post I clearly stated that a close below 5435 is dangerous for Nifty. Nifty may find its support at 5155 to 5133 levels.
Suppose Niftyspot goes below 5133 and then it closes above this level of 5133 then a buy must be initiated in Nifty at these levels with stop-loss @ 5125 on closing basis for the targets of 5254, 5381, 5435, 5471. There are multiple supports at 5145 to 5133 levels Gann retacement support, Gann Angle support and Gann SQ9 supports are there.

And,

A close below 5133 may drag nifty further down to 4862 levels .

Nifty Spot 12/08/13 - 16/08/13

Nifty Spot
The view for Nifty spot remains same as of the last week. A close below 5435 would be a dangerous sign for Nifty. 5435 is major support for Nifty and a close below this level may drag Nifty further down upto 5145 odd levels.
A buy must be initiated from 5471 to 5435 levels with stop-loss @ 5425 on closing basis. Targets are 5471, 5497, 5597, 5614, 5660, 5712, 5769, 5807
And
A short trade must be initiated if Nifty gets closed below 5435 level with stop-loss @ 5450. Targets are 5381, 5145, 5098

PNB

PNB
In PNB time & price are getting squared with each other @ 525-516 range. A buy can be taken in PNB @ 525-516 range with stop-loss @ 514 on closing basis. Targets are 560, 588, 616-620, 671, 713, 762, 781, 835-842, 913

M&M

M&M

A buy can be taken in this counter @ 855-848 range as time & price are getting squared with each other at this range. Also there is a gann  50% retracement level at 823 Stop-loss would be 847 on closing basis and targets are 859, 874, 891, 920, 951, 1025 ,1078

State bank Of India

State Bank Of India
In SBI a buy must be initiated at 1575 - 1543 levels with stop-loss @ 1530 on closing basis. Targets are 1571, 1620, 1704, 1829, 2050, 2235

Yes Bank

Yes Bank

Buy Yes Bank @ 273 or if it give a close above 273 with stop-loss @ 267 on closing basis. Targets are 280, 309, 338, 362, 409, 437, 455, 509, 545

Nifty Update

Nifty is moving on the expected line. Today Nifty made a low of  5521 and Nifty is heading towards a zone of multiple supports @ 5497, 5480, 5435.
A close below 5435 may drag Nifty towards 5145 odd levels.
We will initiate buy at 5480 & 5435 levels in small quantity with stop-loss @ 5425 on closing basis for the targets of 5480, 5497, 5597, 5614, 5660, 5712, 5769, 5807
* All prices quotes are of Nifty Spot

ICICI Bank

ICICI Bank

In ICICI Bank our 1 target met in long and till date 2 targets have been met in shorts. If today we get 851- 855 then we will cover our shorts at this level. And we will initiate long positions in this counter from 851 to 840 with stop-loss @ 838 on closing basis for the targets of 853, 873, 904, 945, 991, 1026, 1049-1053, 1114

NIfty Spot (05/08/2013 - 09/08/2013)

NIfty Spot (05/08/2013 - 09/08/2013) 

From 6061 to 5649 Nifty made a very good downside move within 9 trading days.
Now a close below 5663 can drag Nifty more down towards 5614 to 5596 levels and again a close below 5596 may take Nifty towards 5497, 5480 and 5435.
The major resistance levels are 5733, 5797, 5871, 5898, 5944
and
Major support levels are 5614, 5596, 5497, 5480, 5435