NIFTY TODAY TOMORROW: Nifty & Tata Steel 18'th Jan

Dear Viewers

Good Morning ......

Wish you happy trading today......

Profitable Trading is much easier after knowing future. Same time it becomes a nightmare to trade without knowing Trades future. It’s impossible to believe what we try to do over here. We have maximum chances of misfires as we are not hiding ourselves in brackets of stop loss or support & Resistances.

As somebody has quoted good sentence

What is difference between Human & God? God knows everything about future that is why he is called God…………

Market Outlook for 18’Th Jan 2010:

Equity markets of European countries & American are in the red as we write this Market Outlook. (16’Th Jan 2010 Time 23:00) The SGX January Nifty is trading at a discount of 30 points at 5222. We are expecting Dow to close in red. Currently DOW is down by -130 points (-1.40%). NASDAQ is down by -35 points (-1.47%) & S&P 500 is down by -15 points (-1.32%). Asian markets would be down by about -0.50% to -1% in early trades. Same will happen with our markets.

Once again, we need to watch out for the support level at 5250 – 5230. Once this support is broken there is a good possibility of the Nifty hitting 5200 or lower levels. Market is weakening despite a mid-session rally yesterday it appears that at higher levels the supply pressure is quite big. Thus, higher levels are not being sustained. On the upside now, two supply zones—first, between 5270 and 5290 and then again at 5300 would be quite crucial for the bulls. Unless they manage to push it up beyond 5300 successfully no rally is likely to be sustained and would be vulnerable sharp sell-offs.

Nifty Futures:

We suggest selling on rallies and unless 5300 is decisively cleared by the January Nifty we do not suggest going long for next Few days.

Tata Steel ADVANCE SCIENTIFIC Chart 18’Th Jan 2010:-

(Forecasting to happen during Trading Hours)

TISCO (645): Steel major has become weak after hammering. Now use any rally up to 650-654 as an opportunity to short sell with a stop above 672. We expect it to fall around -1.5% to -2.5% on closing basis. Selling pressure emerge from morning session. Tisco will continue its southward journey till European market opens. Market will make its low at noon as no support from European market. Little recovery might be expected on closing basis. Fresh shorts can be taken at a minor rally today if it were to trade below 643 otherwise if it opens weak then let it break 640 decisively first and then only go short there. Below 627 it will become even worse. If anybody wants to go long then first allow it to fall up to 627,612 levels then only go long with stop below 607. Stop should be placed accordingly.

Support: 646-644, 640, 636, 632, 625, 621 and 618

Resistance: 656, 662, 668-670, 675, 680, 685 and 692

RELIANCE (1111): Reliance is going to declare its Results tomorrow. So any Wild movement can be expected on Gap Up or Gap Down depending on its result. We will be trading on Monday. This index major may have tried to stage a breakout but since it could not sustain at higher levels till the end. We expect it to close it red. We might be wrong on back of good result but one can sell on higher levels. We expect it close below -2% to -3% whatever price it opens. -2% to -3% is from where it opens. We expect selling to continue not only on same trading day but also on next trading day (19’Th Jan 2010).

Support: 1103-1100, 1092, 1080, 1069, 1055, 1047 and 1035

Resistance: 1110, 1123, 1132, 1143, 1156, 1165 and 1172

S&P NIFTY (5252): Nifty to open with Gap down effect. We expect it touch 5200 or if it breaks 5200 then 5180. Selling pressure will emerge entire day. Software & Pharma stocks might try to support nifty. But Nifty would close (-50) to (-60) points down from opening level.

Trading Moves for the day:-

Sell Tata Steel at level of 645 with intraday target of 636 & 628.

Sell Reliance at level of 1111 with intraday target of 1100 & 1092

Sell S&P Nifty at level of 5250 with intraday target of 5220, 5200

Market Outlook for 19’Th Jan 2010:

Tata Steel ADVANCE SCIENTIFIC Chart 19’Th Jan 2010:-

(Forecasting to happen during Trading Hours)

Selling will be continued in Tata Steel, Reliance & Nifty. We expect selling pressure to continue on second day. Small buying not ruled on lower levels. Nifty will find support between 5170-5180 and even at 5150.

TISCO (630): Same view continues even today: the range between 633 and 618 may still act as a trend decider for the day. Selling will continue at higher levels. Tata Steel would open weak. Would become range bound in mid trading session. Further selling will emerge on closing basis. Tata Steel will close in red by -1% to -1.5% (Negative Basis).

Reliance (1090): Same view continues even today: the range between 1078 and 1105 may still act as a trend decider for the day. Selling will continue at higher levels. Reliance would open weak. Would become range bound in mid trading session. Further selling will emerge on closing basis. Reliance will close in red by -1% to -2% (Negative Basis).

Nifty (5200): Same view continues even today: the range between 5220 and 5230 may still act as a trend decider for the day. Selling will continue at higher levels. Nifty would open weak. Would become range bound in mid trading session. Further selling will emerge on closing basis. Nifty will close in red by -0.51% to -0.70% (Negative Basis).

Trading Moves for the day:-

Sell Tata Steel at level of 630 with intraday target of 626 & 624,618.

Sell Reliance at level of 1090 with intraday target of 1082 & 1078, 1072

Sell S&P Nifty at level of 5210-5220 with intraday target of 5180, 5160

Market Outlook for 20’Th Jan 2010:

Tata Steel ADVANCE SCIENTIFIC Chart 20’Th Jan 2010:-

(Forecasting to happen during Trading Hours)