Nifty Short term Outlook:--- As Predicted earlier(27'th Feb) Nifty broke 2660 yesterday & Close around 2620. We Expect it to touch 2070 after breaking 2550 & 2370. Investor should not make portfolio based buying until close above 2870. Nifty Volatility is also Increasing its not a good sign for market. There is massive negativity, complete gloom and doom and havy oversold market, any upside can be only exit opportunity.
On 3'rd March Nifty future discount decreased from 35 points to 31 points. Nifty future made net addition of 20 lakh shares in open interest. Open interest in the market was Rs48,019 crore and Rs2,018 crore were added in open interest. Nifty call option added 36.54 lakh shares in open interest, Nifty put option added 18.77 lakh shares in open interest.
(We are expecting this to happen during the Market Trading Hours)
Tata Steel will open flat to positive. Yesterday. It did'nt broke support around153. Bulls will try to drag it to favour them. But Bulls will fail to hold their gains. They would gave away some of their gains . Tisco may reach up to 160 mark but will not go above 163. So with scrict stoploss 166, Trader should take opprtunity to short tisco between 159-162. Trader can hold their short. Keep shorting...
Market on 3'rd March 2009:---
Nifty IntraDay Chart for 03/03/2009
Volatility Chart
Volatility Chart
Tata Steel Our Pridicted Chart for 03/03/2009
Tata Steel NSE Chart for 03/03/2009
While comparing our chart we are matching nse chart uptill 2'o clock. But sometimes sentiment wins the game against charting. As written in our blog yesterday noon covering may shorter & it was more shorter then even our expections. We have down tail between 2:50 pm to 3:30 pm & market fell in time. Come join us & Stop Gambling Start Investing. We welcome your prompt response to improve our self. You can send us your stock queries.
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All the content (and views) on this web page (including all pages therein) is for informational purposes and is not a recommendation or an offer or solicitation of an offer to any person with respect to the purchase or sale of the stocks / futures discussed in this report. We do not accept any liability arising from the use of any content on this site. The readers of this material should rely on their own investment decisions.
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