Nifty Short term Outlook:---
Predicted on 27'th Feb Nifty broke 2660 & 2550 . We Expect it to touch 2370 after breaking 2550. ON 5'TH MARCH Nifty Took support at 2564. Investor should not make portfolio based buying until close above 2870. Nifty makes low 2659 on March 2 & low of 2564 on March 5.
NIFTY FO ON 5'TH MARCH : --
On 5’th March Nifty future discount has increased from 15 points to 20 points and around 15.67 lakh shares were added in open interest. Total open interest in the market was Rs51,357 crore and Rs1,019 crore were added in open interest. Nifty call option added 36.00 lakh shares in open interest, whereas put option added 7.75 lakh shares in open interest. On the option front, implied volatility has decreased further by around 100-200 basis points.
Tata Steel ADVANCE SCIENTIFIC Chart 6'th March 2009 :-On 5’th March Nifty future discount has increased from 15 points to 20 points and around 15.67 lakh shares were added in open interest. Total open interest in the market was Rs51,357 crore and Rs1,019 crore were added in open interest. Nifty call option added 36.00 lakh shares in open interest, whereas put option added 7.75 lakh shares in open interest. On the option front, implied volatility has decreased further by around 100-200 basis points.
(We are expecting this to happen during the Market Trading Hours)
One more day will pass Tisco still in 8 point range between 143 and 154. Overnight, US markets posted usual Negative close. Most of the indices were down more than 4%. Today morning, Asian markets are also trading with -ve bias. Tisco will open with gap down effect but find support around144-145 level bounces from there. Tisco tries to recover but fails as day progress. After initial jerks of 145-146 Tisco will reach around 150-151 level & in late profit booking may close around 143-145 level. Traders should wait for day or two as we have long weekend ahead.
Market on 5'rd March 2009:---
Nse Chart Tata Steel IntraDay Chart for 05/03/2009
Our Chart Tata Steel IntraDay Chart for 05/03/2009
Nse Nifty Chart IntraDay Chart for 05/03/2009
IN (STBT) short position in Tisco @ 161 level was getting profit at 150. Those who hold still short should cut their short in opening trade as we have long weekend. We are getting profit of Rs 15 & 10% of your investment. Keep profiting.................DISCLAIMER:---
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