STOCK WATCH FOR 11th OCTOBER

STOCK	STOPLOSS	TARGET	TARGET	TARGET
TATAMOTORS	166	172	175	180
JPASSOCIAT	72.90	73.90	74.40	75.50
HINDALCO	127.5	129.20	130.30	132.15
IDFC	119.40	122.85	124.40	126.9

 These stock may buy for today with the strict stop-loss IF stock opens on its first target then it can be buy for second target.

NIFTY MAY BE IN SHORT-RANGE TODAY

After the analysis of Nifty’s daily chart, Nifty has closed a near a support level around 4860.While Nifty has faced a strong resistance on 4925 level. Nifty may remain range bound between these levels today also. U.S. markets closed flat to negative on Friday. Asian markets are trading mix in morning, Singapore Nifty marks minor loss today in early session. Market may be in shorter range in early session, Direction of markets will depend on European clues. Nifty may take directions after Infosys’s result on 12^th October also. NIFTY may short Sell for today on 4900 to 4920 level with the stop-loss  of 4950.

GOLD OUTLOOK

Gold has hit all-time high in Indian and international markets. After the making record high $ 1923 on Comex and Rs. 29000 on Mcx Gold has tumbled sharply. Now the question is Gold buy or sells on these levels. Take a look on the daily chart; Gold is trading around $1635 near the 100 day’s moving average and has a strong support at $1575. The 200 day’s moving average is on $1535 levels, which is the another strong support for gold. Considering the Gold’s hourly charts, it has the resistance on $1675 level. Euro again turns lower against Dollar after the Fitch has downgraded Italy and Spain’s ratings last night. Moody   may doungrade Belgium’s local and foreign currency bonds. It may direct hit Gold prices. December future of gold were trading around 26280 on Mcx  late night. Which has the resistance on 26900 and support is on 25900 levels.  Gold may remain range bound between $1600 to $1675 on Comex.  Gold may short sell for the  short-term with strict stop-loss  of the Rs 27000 on Mcx. 

NIFTY FUTURE AND OPTION OUTLOOK

Nifty October future was trading 23 points premium on Wednesday at 3:30 p.m. in account of short covering in market. Market was volatile on Wednesday in small range. Traders were using every dip in market for short covering. Nifty option data shows a range of the market between 4700 to 5200. Maxium positions came at 4400 strike rate‘s put on Wednesday which marks a range will be shifted from 4700 to 4400 in October if market breach the 4700 level. After the better unemployment claims data and European central bank’s announcement U.S. and European markets have rallied. Asian markets are following the Wall Street and open higher in early morning. Sgx Nifty trading on 4870 level about 120 points up from Indian closing on two days ago. Nifty may face resistance on 4900 -4950. DLF , JP ASSOCIATE, and EDUCOMOP can buy for the day. 

NIFTY UPDATE

Amid the European market's indication  nifty has closed at  4772 on Tuesday. While nifty had opened at around 4836 and was trading  near these levels but after reading the  European markets, Nifty has tumbled and made an intraday low at 4849. Nifty has breached its support 4760 but closed above this level. Nifty 5000 strike rate call has been short sold by the traders on Tuesday, but 4700 strike rate call has the maximum position. These data indicate that nifty may take a little bounce from 4700 levels. In a dramatic move, U.S. markets closed up to 1.5% high last night. while the Asian markets' trading mix to lower in early morning. Singapore nifty is trading 3 points up from previous close. Nifty future had added only 10 lac share in open interest. Traders were not comfortable to open new shorts at these levels. New shorts may come below the 4700 level.IF Nifty trade higher side after opening the European markets. Then nifty may touch 4825 levels again. Short covering is advised and avoid to open new short on these levels.

STOCK UPDATE - SINTEX INDUSTRIES

SINTEX INDUSTRIES fell more than 21% in last three trading sessions due to redemption concern  of FCC debit in year 2013. High dollar price is affecting the stock because SINTEX INDUSTRIES had taken $ 225 million from FCC. If dollar prices stays at the currant level in 2013, the investment bank expects the  gross impact of Rs. 400 -500 millions on Sintex Industries( on the earnings). Any appreciation in Dollar may cause of the further weakness in stock. Stock has fallen 11.32% with hugest  volumes (7.33 million) on Monday's session with the .32 Million deliverable quantity which is higher than  10-day's average volumes of the stock. Delivery based selling indicates, big weakness in the stock. The stock future has added 4.94 lac shares in short side. Stock may fall below the Rs. 100 in few trading days. Short selling is advised in stock for the target of Rs 95. If the stock goes up, then more short can be added.

NIFTY OUTLOOK 3 OCTOBER

In the new series, Nifty spot has opened at on 4979 and made an intraday high of 5024. After European market's indication, Nifty has wiped of its all earlier gains, made an intraday low of 4926 and settled on 4943 levels with the loss of 72 points. Take a look on the hourly chart of Nifty it indicates that 5035 is a resistance level for Nifty, which became stronger now. So many gaps are on the chart that shows higher volatility in markets. Volatility index rose 2.8% and closed on 31.94 on Friday.Maximum short selling has been occurred on 5200 strike rate's call.MACD is also giving a signal of downside. U.S. markets fell more than 2% on Friday's session. Asian Markets trading lower in early session, Hang sang  is down around 3.5% in the morning, while Sgx Nifty is trading on 4875 levels, around 55 points lower than previous close. A crucial support on 4900 for Nifty, More shorts selling is expected below these levels in Nifty future. Short selling is advised in Nifty Future and 5200 strike rate's call. More shorts can be added after taking indication from European markets.