Nifty a Crucial Support Holds and Options Trading Tips
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Kiran Kumar Reddy
Jun 30, 2014, 1:07:07 PM6/30/14
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Please consider this free-reprint article written by:
Kiran Kumar Reddy
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Article Title: Nifty a Crucial Support Holds and Options Trading Tips
Author: Kiran Kumar Reddy
Word Count: 728
Article URL: http://www.isnare.com/?aid=1897648&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1897648
Easy Publish Tool: http://www.isnare.com/html.php?aid=1897648
*********************** ARTICLE START ***********************
Indian Futures and Options Trading shares market edged down on Monday to close at their lowest in nearly 2-1/2 weeks as index heavyweight ITC slumped on tax hike worries. The Bombay Stock Exchange Sensex closes at 25032 were down by 75 points or slumped by 0.30 percent. Nse Nifty Closes at 7494 were fallen by 19 points or fell by 0.24 percent BSE Midcap index lost by 0.6 percent whereas the Smallcap index ended 0.5 percent loss in intraday trade.
Sensex Major Resistance on Upside at 25188-25343-25498
Sensex Major Support on Downside at 24885-24737-24582
Trend Deciding Level at 25040
Nifty Index Major Resistance on Upside at 7538-7582-7625
Nifty Index Major Support on Downside at 7447-7400-7356
Trend Deciding Level at 7491
Major Headlines
Alstom T&D India board recommends general electric’s offer
Lupin gets US FDA nod for Levonorgestrel Tablet Fallback Solo
L&T in definitive agreement with Canada Pension Plan Invest
Motherson Sumi to offer senior secured notes worth euro dollar 500 m
Government agrees to hike 40% import duty on sugar
Nifty Indices
Nifty ended the day in red for the fourth consecutive day which points to inherent weakness. However, there exists a probability that this is just a retracement of the previous rise in wave IV following which wave V up will begin. The fall so far appears to have been in a downward sloping parallel channel and the Nifty has taken a good support at the lower end of the channel. Hence, that level becomes a crucial support going forward. The Nifty has been taking support at its 20-daily moving average (DMA), ie the mean of the Bollinger Bands, which is a positive sign for bulls. The ultimate short-term reversal is pegged at 7433 levels and till that is not broken we believe that the short-term trend shall remain up. The immediate resistance is pegged at 7550 levels above which Nifty can test 7635.
The thrust pointer has gone in sell sort with a negative divergence on the daily chart and that’s quite a negative sign for the bulls
In the daily chart the index is trading above the Twenty-day moving average (DMA) and the Forty-DMA, ie 7487 and 7282 respectively. The thrust indicator is trading in negative sort on the daily chart
In the hourly chart, the Nse Nifty is trading below the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 7516 and 7533 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned negative.
The market duration was turned negative with 801 advances and 759 declines, Unchanged 38 Total Issue 1598 on the National Stock Exchange.
Nifty Future Major Resistance on Upside at 7551-7593-7635
Nifty Future Major Support on Downside is at 7466-7423-7381
Trend Deciding Level at 7508
Bank Nifty Major Resistance on Upside at 15233-15331-15429
Bank Nifty Major Support on Downside at 15004-14873-14775
Trend Deciding Level is at 15102
5 Daily Moving Average @ 7547
50 Daily Moving Average @ 7147
200 Daily Moving Average @ 6410
5 Days Relative Strength Index @ 37 and 49 Days Relative Strength Index @ 57 INDICATES NIFTY PLACED IN BULLISH ZONE, WITH BEARISH MOMENT.
Options Trading Tips
Buy Nifty Fut Jun Intraday above 7535 sl 7510 Tgt 7555-7580 {Or} Sell Below 7485 sl 7510 Tgt 7465-7440
Buy Bank Nifty Fut Jun Intraday above 15180 sl 15130 Tgt 15230-15280 {Or} Sell Below 15080 sl 15130 Tgt 15030-14980
Buy Nifty 7600 Call Options Above 16 sl 8 Tgt 23-29
Pick Of the Week
Buy Unitech Cash above 34 sl 29 Tgt 37-41
Buy Tata Elexsi Cash above 578 sl 535 Tgt 625-675
Fundamental Pick
Buy Viaka Ind above 126 Add More on Dips at 110 For Short Term Target 168 For Long Term Target 220-240.
Summary: Visaka Industries is the second largest cement sheet manufacturer in India and manufactures corrugated cement fiber sheets. Buy and hold the stock keep accumulating the dividend and interim dividends
Curious Fact
Hailstones are lumps of ice that fall from thunderclouds during a storm. In 1986, a hailstone the size of a grapefruit fell in Bangladesh. It is believed to be the biggest hailstone that has been recorded.
Article Source: http://www.charanwings.com/blog/post/Nifty-a-Crucial-Support-Holds-and-Options-Trading-Tips
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Message delivered directly to members of the group:
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*****************************************************************
Please consider this free-reprint article written by:
Kiran Kumar Reddy
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=1897648
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=1897648
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Nifty a Crucial Support Holds and Options Trading Tips
Author: Kiran Kumar Reddy
Word Count: 728
Article URL: http://www.isnare.com/?aid=1897648&ca=Finances
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1897648
Easy Publish Tool: http://www.isnare.com/html.php?aid=1897648
*********************** ARTICLE START ***********************
Indian Futures and Options Trading shares market edged down on Monday to close at their lowest in nearly 2-1/2 weeks as index heavyweight ITC slumped on tax hike worries. The Bombay Stock Exchange Sensex closes at 25032 were down by 75 points or slumped by 0.30 percent. Nse Nifty Closes at 7494 were fallen by 19 points or fell by 0.24 percent BSE Midcap index lost by 0.6 percent whereas the Smallcap index ended 0.5 percent loss in intraday trade.
Sensex Major Resistance on Upside at 25188-25343-25498
Sensex Major Support on Downside at 24885-24737-24582
Trend Deciding Level at 25040
Nifty Index Major Resistance on Upside at 7538-7582-7625
Nifty Index Major Support on Downside at 7447-7400-7356
Trend Deciding Level at 7491
Major Headlines
Alstom T&D India board recommends general electric’s offer
Lupin gets US FDA nod for Levonorgestrel Tablet Fallback Solo
L&T in definitive agreement with Canada Pension Plan Invest
Motherson Sumi to offer senior secured notes worth euro dollar 500 m
Government agrees to hike 40% import duty on sugar
Nifty Indices
Nifty ended the day in red for the fourth consecutive day which points to inherent weakness. However, there exists a probability that this is just a retracement of the previous rise in wave IV following which wave V up will begin. The fall so far appears to have been in a downward sloping parallel channel and the Nifty has taken a good support at the lower end of the channel. Hence, that level becomes a crucial support going forward. The Nifty has been taking support at its 20-daily moving average (DMA), ie the mean of the Bollinger Bands, which is a positive sign for bulls. The ultimate short-term reversal is pegged at 7433 levels and till that is not broken we believe that the short-term trend shall remain up. The immediate resistance is pegged at 7550 levels above which Nifty can test 7635.
The thrust pointer has gone in sell sort with a negative divergence on the daily chart and that’s quite a negative sign for the bulls
In the daily chart the index is trading above the Twenty-day moving average (DMA) and the Forty-DMA, ie 7487 and 7282 respectively. The thrust indicator is trading in negative sort on the daily chart
In the hourly chart, the Nse Nifty is trading below the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 7516 and 7533 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned negative.
The market duration was turned negative with 801 advances and 759 declines, Unchanged 38 Total Issue 1598 on the National Stock Exchange.
Nifty Future Major Resistance on Upside at 7551-7593-7635
Nifty Future Major Support on Downside is at 7466-7423-7381
Trend Deciding Level at 7508
Bank Nifty Major Resistance on Upside at 15233-15331-15429
Bank Nifty Major Support on Downside at 15004-14873-14775
Trend Deciding Level is at 15102
5 Daily Moving Average @ 7547
50 Daily Moving Average @ 7147
200 Daily Moving Average @ 6410
5 Days Relative Strength Index @ 37 and 49 Days Relative Strength Index @ 57 INDICATES NIFTY PLACED IN BULLISH ZONE, WITH BEARISH MOMENT.
Options Trading Tips
Buy Nifty Fut Jun Intraday above 7535 sl 7510 Tgt 7555-7580 {Or} Sell Below 7485 sl 7510 Tgt 7465-7440
Buy Bank Nifty Fut Jun Intraday above 15180 sl 15130 Tgt 15230-15280 {Or} Sell Below 15080 sl 15130 Tgt 15030-14980
Buy Nifty 7600 Call Options Above 16 sl 8 Tgt 23-29
Pick Of the Week
Buy Unitech Cash above 34 sl 29 Tgt 37-41
Buy Tata Elexsi Cash above 578 sl 535 Tgt 625-675
Fundamental Pick
Buy Viaka Ind above 126 Add More on Dips at 110 For Short Term Target 168 For Long Term Target 220-240.
Summary: Visaka Industries is the second largest cement sheet manufacturer in India and manufactures corrugated cement fiber sheets. Buy and hold the stock keep accumulating the dividend and interim dividends
Curious Fact
Hailstones are lumps of ice that fall from thunderclouds during a storm. In 1986, a hailstone the size of a grapefruit fell in Bangladesh. It is believed to be the biggest hailstone that has been recorded.
Article Source: http://www.charanwings.com/blog/post/Nifty-a-Crucial-Support-Holds-and-Options-Trading-Tips
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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