Aug/090
Indian Stock Market Analysis-31st Aug 2009
Last friday market traded volatile closed near to resistance level. Nifty made 52 weeks high of 4743.75 and closed at 4732.35. Over all market closed positive on weekly and monthly basis.
Today major Asian markets are trading negative signaling gap down opening of Nifty at around 4670 level. Major Global markets are in overbought zone including India suggesting little downward trend for couple of days to reset the chart for further up move. Nifty has major support at 4645 and 4580 closing below which can correct Nifty to 4500 level. We will be looking for an opportunity to short sell on higher side or on confirmation of downward trend today.
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Aug/090
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Aug/090
Indian Stock Market Analysis-28th Aug 2009
Yesterday market traded with narrow range. Nifty unable to cross resistance level 4736, closed at 4688.20
Today Asian market trading mix.Nifty likely to open marginally down. Nifty has major support at 4580,closing below which can drift down Nifty to 4500. Major resistance at 4736,closing above which can take up Nifty to 4850 level. As told yesterday,market is now in overbought zone need to reset for further up move which we expect at around 4450-4500 level.
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Aug/090
Indian Stock Market Analysis-27th Aug 2009
Yesterday market traded quiet firm with little volatility closed positive ahead of F&O expiry today. Nifty made high of 4697.80, unable to cross psychological level 4700 and closed at 4680.85.
Today most Asian markets are trading weak signaling gap down opening of Nifty at around 4660 level.Market likely to trade volatile today due to F&O expiry today. Nifty has major resistance at 4736, closing above which can take up Nifty to 4850 level. Major support at 4580 now ,closing below which can take down Nifty to 4500. We will not prefer to trade much today because there are enough warnings to keep us in cautious mode as few technical indicators on chart suggesting overbought position in market.
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Aug/090
Indian Stock Market Analysis-26th Aug 2009
As expected, we have seen selling pressure yesterday but it was absorbed fully closed hire lead by the IT stock and Reliance. Nifty bounced back from 4582 level closed at 4659.35.
Today major Asian market trading positive signaling gap up opening of Nifty at around 4680 level. Market likely to trade volatile today due to F&O expiry week. Nifty has major resistance at 4736, closing above which can take up Nifty to 4850 level. Major support at 4530 ,closing below which can take down Nifty to 4400.
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Aug/090
Indian Stock Market Analysis-25th Aug 2009
Market rallied yesterday in line with global peers lead by capital goods,realty, metal stocks. All our recommended stocks in last post- Suzlon, Axisbank, Tatatea performed well yesterday. Nifty crossed it resistance 4620 and maintained it for entire trading session closed at 4642.80 which indicates further upside to 4730 level.
Today major Asian market trading weak signaling gap down opening of Nifty at around 4620 level. Expecting some selling pressure due to profit booking in later part of day which can drift down Nifty at 4570 level. Nifty has major resistance at 4736, closing above which can take up Nifty to 4850 level. Major support at 4530 ,closing below which can take down Nifty to 4400. Better to book profit in long position today and wait for some dip to enter again.
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Aug/090
Indian Stock Market Analysis-24th Aug 2009
As expected market rallied on friday with handsome gain in later part of day.However weekly Nifty closed marginally down at 4528.80. Major Europe and US markets also rallied and closed above recent new high on friday.
Today all Asian markets are trading firm signaling gap up opening of Nifty at around 4600 level.Nifty has major resistance at 4620, closing above which can take up Nifty to 4730 level. Major support at 4400 now. closing below which can take down Nifty to 4270 level.Overall trend will remain bullish today, may be till tuesday.
Stock to Buy today- Suzlon, Axisbank, Tatatea
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Aug/090
Indian Stock Market Analysis-21st Aug 2009
After a strong gap up opening yesterday, market traded firm till 3 PM but wiped out entire day's gain in last half n hour.Nifty started falling from resistance level 4492 closed at 4453.45
Today Asian market trading weak signaling gap down opening of Nifty at around 4430 level, may see more downside to 4370 level. Nifty has crucial support at 4360 closing below which can drift down Nifty at 4270 level. Nifty has major resistance at 4492, closing above which can take up Nifty to 4580 level.
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Aug/090
Indian Stock Market Analysis-20th Aug 2009
After a relief rally on 18th Aug, market set to resume short term downward trend yesterday. Most of Global market dropped lead by China closed down 4.3%.
Today most of Asian market trading firm signaling gap up opening of Nifty at around 4440 level.Today's 2nd half session to watch. Market may see further downside tomorrow if unable to sustain 1st half gain at the end of day. Nifty has crucial support at 4360 closing below which can drift down Nifty at 4270 level. Nifty has major resistance at 4492, closing above which can take up Nifty to 4580 level.
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Aug/090
Indian Stock Market Analysis-19th Aug 2009
As expected market bounce back yesterday from Nifty 4370 level but unable to cross psychological level 4500. As predicted, selling pressure seen at around 4470 level,closed at 4458.90.
Today Asian market trading mildly weak signaling gap down opening of Nifty at around 4440 level. Market may trade bit volatile today.Expecting more down side in Nifty in later part of day. Nifty has strong resistance at 4580 and 4620 closing above which Nifty can see further upside to 4850 level. Nifty has crucial support at 4360 closing below which can drift down Nifty to 4250-70 level.
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