Big Question Ahead?

Dear Viewers,
Good Morning & Wish you Happy trading today............
Big Question for this market for this week is below mentioned .................
Will market Cross 5150-5180?

Disinvestment agenda makes the day

The Nifty closed around the 5,000 mark today, up about 50 points odd but is up 4% for the week. The Oil Ministry proposed a 31% hike in the price of natural gas. ONGC and Oil India & Reliance reacted very positively to the news. In the financial space, IDFC did well . Autos did well, with joining hands of Maruti and Hero Honda which have been lagging. Tata Motors for the last few sessions showed good show . Hindustan Unilever had a good session and Bharti was not too badly managed to keep its head above the Rs 300 mark. On the way down some of the high beta names like Suzlon and JP Associates struggled a little bit today. So far the trend does not seem to have broken. We have put on 4-4.5% for the week. There are still a lot of people who believe that there is life beyond 5,000 and it will not be very easy, keep fingers crossed We started flat and then managed to work our way back up to 5,000. It is admittedly facing a little bit of headwind resistance every time it goes above that 5,000 mark but it does not seem broken yet. I think the screen is pretty strong still.
Next week the key question is whether we sustain this rally. Will global markets hold up, the dollar goes back from its mild retrenchment that we have seen over the last couple of days and that paves the way for the S&P to get back above 1100 which may coincide with a breakout decisively above that 5,000-5,050 mark for the Nifty. So from a trading perspective I think you will still have to say that the shape is upward curving. It depends on global markets whether we can get, get close to that 5180-5200 mark next week in next week’s trade which was our intermediate high.

in F&O Segment Nifty (November) premium has increased from 0.45 points to 3.70 points and 10.70 lakh shares were added in open interest. Total open interest in the market was Rs110,731 crore and Rs3,161 crore were added in open interest. Nifty call option shed 2.50 lakh shares in open interest, whereas put option added 26.80 lakh shares in open interest. Tech Mahindra (30%), Sun TV (29%), JSW Steel (27%), Patel Engineering (21%) and Patni Computer Systems (16%) were the top open interest gainers in the market. Bank Of India (-12%), PTC India (-9%), Rolta India (-8%) and Firstsource Solutions (-8%) were the top open interest losers in the market.


Tata Steel ADVANCE SCIENTIFIC Chart 16'th Nov 2009 :-
(Forecasting this to happen during the Market Trading Hours)



Tata Steel ADVANCE SCIENTIFIC Chart 17'th Nov 2009 :-
(Forecasting this to happen during the Market Trading Hours)

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