NIFTY MAY TASTE 5400 AGAIN

Amid the referendum plan for the bail-out package of Greece, Nifty has consolidated between 5200 level to 5300 level in last couple of trading days. Nifty has taken support from 5200 level and closed 5265 level on Thursday near day’s high. Nifty’s 5200 strike rate put has added 426000 shares in short side in Nifty option, it shows 5200 is the strong support for Nifty in short-term while 5400 is the strong resistance. U.S. markets have gained around 2% in Thursday’s session and Asian markets are trading higher today. SGX Nifty is trading at 5365 level early morning. Nifty may open near this level. Realty stocks rocked on Thursday. DLF may positional buy above 251 level with the strict stop loss of 232 and near term target is 275 -295. Profit booking is advised in Nifty near 5400 level. 

GREECE BLEEDING AGAIN NIFTY MAY TAKE SUPPORT AT 5180 LEVEL

Greece official has announced a referendum on latest bailout package on Monday evening. European markets suffered from the news and tumbled around 7% last night. Wall Street also sank around 3% on Tuesday’s session. Asian markets are trading below from previous close. Nifty has closed near day’s low on 5260 on Tuesday. Nifty has strong support near 5200 level. Strong short positions have developed on 5200 and 5100 strike rate put in Nifty option on previous session that marks Nifty may remain above 5150 and 5200 level on Wednesday. Nifty may open near 5200 level today, short covering may occur after Europe’s sign. Nifty may buy if it sustains 5200 level after Europe’s opening.

5300 AND 5250 ARE THE STRONG SUPPORT FOR NIFTY

Nifty has opened around 5340 and made an intraday low 5317 and closed near this level at 5326 on Monday. Nifty 5400 strike rate call has been short sold by the traders and while traders are comfortable above 5300 level. Nifty 5300 strike rate put has the huge short positions, made by big traders. Hourly chart of Nifty shows a support level around 5250. U.S. and European markets sank again due to European debit crises. Asian markets also following the Wall Street and trading lower. Singapore Nifty is trading near 5300 level. Nifty may positional buy near 5250 level with the stop-loss of 5180 level for the target of 5415.

NIFTY HAS TASTED 200-DAY AVERAGE PRICE

Following the international markets Nifty has opened with huge gap-up on Friday. Nifty has tasted an intraday high at 5399 and was trading around 5350 level whole time. Metal stocks rocked because of heavy short covering after Europe eases. Nifty has faced resistance around 5400 level on its 200-day moving average. Nifty had breached its 200-day moving average on 2th may 2011 and had not closed above this line so far. U.S. markets were flat to negative on Friday’s session while Asian markets are also trading negative in morning. SGX Nifty is trading at 5380 level. Nifty is little overbought at this stage. Nifty has another strong resistance at 5415 level. A trend line is occurred at 5415 level and 200 –day moving average also on this level as showing in daily chart of Nifty. Nifty may face weakness at this level.  Market is expected to trade flat for today’s session. Trading in stocks is advised for today.

CRUDE OIL IS FACING RESISTANCE AT $ 94.65

After the Europe zone positive news, all the equities and commodities have pulled up in last four trading sessions. Crude oil also pulled over its resistance level around $90 international markets and breached its 100-day moving average price. Crude oil is now trading around its 200-day moving average price and faced resistance before closing on Friday. Momentum indicator MACD is showing strong buy signal for crude oil. If Crude oil sustains $ 90 in few sessions, it may breach $ 95 and taste the $ 100 once again. In Indian market, Crude oil is trading over 200-day moving average price and has a strong support of Rs. 4371 level. Buying in Crude oil is advised at this level with the strict stop-loss of $89.50.

NIFTY HAS BROKEN-OUT UPSIDE

Nifty has closed above its strong resistance level on Wednesday in a special session of Muhurt trading. Thursday was the holyday of Indian markets while U.S. and European markets gained almost 3% - 5% after the bailout package has been announced of around $1.4 trillion by the private bonds holders of Greek debit and recapitalizes European banks. Euro jumps a huge one day gain after March 2009. Asian markets are also gaining in early morning .Singapore Nifty is trading at 5447 level around 206 points up closing of Indian market .Nifty has 200-day moving average on 5410 level in daily charts. Closing above the 5410 level will sustain uptrend in Nifty. Auto and IT sectors may outperform in this rally. Profit booking may come on higher levels. Avoid short sell in Nifty now.

NIFTY MAY BREAK 5200 LEVEL IN NOVEMBER SERIES

It is expiry of Nifty future and option for October series today. Heavy call writing in 5200’s strike rate marked a strong resistance level for Nifty. Nifty could not breach this level in entire series. A range shifting from 5200 level to 5400 level has seen in November series as Nifty option data shows. Ahead of the European announcement, Asian markets climbed sharply on Monday. After the gap-up opening Nifty has faced resistance 5150 level again and closed 5098 level near day’s low. New shorts have been added in 5200 strike rate’s call in Nifty options. Profit booking is seen in 5100 strike rate’s call. Nifty may expire between 5100 to 5200 levels on Tuesday. Wall Street added heavy gains second day in a row. Asian markets trading mix today. Singapore Nifty is trading flat and high volatility is expected today. Nifty may buy above 5200 level for the target of 5350 level.