Nifty
future closed 5998 on 13th Feb 2014 down by 101 points. Yesterday
Nifty future made a high 6104 and low of 5997. SGX nifty up by 39 points at 6036.
American market closed positive, European market closed positive and Asian
trading positive today. Now SGX up and we up with gap up effect. On Monday we
have vote on account for budget suddenly now keep fingers crossed…. Yesterday
we had major selling may be because of Vote on Account of budget.
We have
headline in one of the trusted website “Nasdaq up for sixth straight day”. If
you refer to our weekly outlook we written I quote “In January when we have
tapering effect by US, we were having negative effect in global market and in
also their currencies. Dollar was getting stronger against the world currencies
(Seen major fall in world market). In February tapering is continued even with
a higher pace means US market is stronger and because of this we see false gap
up opening in our Indian market but don’t have strength to go ahead or rise in market.
We doubt, FII’s or hedge funds are making basket selling just to hide things.
Even in past when we have strong undertone we could not sustain at higher level
or could not rise, Even Thursday and Friday give indication of this”. Same
effect is seen now in our market.
Today we
expect nifty to take support around 5975,5960 at lower level and
resistance around 6044,6070. We have mix trend. After long days we see little
positive buying from FIIS again today but screen gives us different result.
After opening higher we might see again profit booking in market. If you
observe on positive days we ignore positive news but on bad days we fall heavily.
On posting positive result none of companies risen higher but on bad results companies
punished heavily. Again we request keep
your positions light because of vote on accounts.
On 12th
Feb we written
In
nifty future who taken carry forward position after looking our calendar or
charts can book profit between 6115 to 6135 or keep trailing stop loss. We are
positive for throughout day it make no sense to make fresh entry in all
resistance zone between 6120 to 6150 (6120,6135,6150). We have events lying of
Rail budget vote on account, CPI & IIP data end of day. Further we have
mixed trend for today and tomorrow. So risk reword in new entry at higher level
is not favorable however aggressive traders can trade for margin gains.
Please
do not carry forward any long or major position today ahead of all the data or
be light in positions.
On 13th
Feb we written
Today
we expect nifty to take support around 6045,6070 at lower level and
resistance around 6124,6135. We have mix trend. After long days we see little
positive buying from FIIS. Today we may see choppy trend in market. As SGX
suggests we may open in rage between 6110 to 6120 and we may post high around
6135 to 6140. All this high price zone in nifty future are according to us
resistance zone so nifty future will always found difficult to cross. Nifty
future might see negative bias after European market opens in negative. We
might close flat to negative of 5 to 10 points in nifty future. Overall
conclusion is we trade positive in initial trading but as market progresses we
lose strength and close flat to negative. In nifty future we find very small
trading range in market so traders are advised to churn their trading strategies
with small margin of profits.
Thanks
& Regards
Nishant Jani
9374083399
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