Last two weeks for Nifty futures were good as it peaked at 5400 level, but as we know that markets are still in downtrend so we have seen selling coming at higher levels. Today Nifty futures approached its strong support of 5170 (earlier strong resistance) level. So we are of the view that bounce must be ahead and some small consolidation in today's session must be seen, so traders can take and ... [Continue Reading]
M&M Stock Option Trading: Buy M&M 840 Call Option November Series at 11 for Target 19, M&M has Strong Support
Mahindra & Mahindra is one of the fastest growing 4 wheeler manufacture in India. The company has been shown very strong growth in its 4 wheeler and 2 wheeler segment both. If we speak about the out performance, then M&M stock has recently made 52 week high at 877 levels on NSE, After touching that 52 week high we have seen a steep correction in stock prices, taking it to 813 levels, but this fall ... [Continue Reading]
Short Term Strategy: Gold Trading near its Strong Support, Buy Gold Above 1694, Target 1746
The strength in USD was responsible for huge selling in Gold, as the dollar index was seen above 77 level today. So not only Gold but also Silver and Crude were hit by this USD strength. We see that Gold is trading near its strong support zone of 1694 level so traders can accumulate gold at this level for short term targets as 1746 and then 1777 levels. Demand for this yellow metal is still ... [Continue Reading]
Stock Option Trading: Buy CHAMBLFERT 100 Call Option at 1.6 for Target 4.5, Technical Support at 90.
Chambal Fertilizer stock was seen on a strong up trend from July 2011, Selling pressure that we have seen recently in this stock was just due to profit booking and there is no reason at all to go short on this stock. Using technical analysis we see, this stock has a very good support at 89 level(Previous resistance for April 2011 which is now support level), also the 89 level on the chart is 61.8% ... [Continue Reading]
Nifty Futures Must Find Support near 4800 level and Consolidation is more Likely from These Levels, Sharp up move not Expected
Nifty futures was unable to break below the 4800 level, hence found strong support there and we are expecting some sharp pull back starting with short covering and profit booking, this rally must be irrespective of the global markets. The support level which nifty has touched last Friday indices has bounced off those level in intraday trading. Market participants mainly the FII are net sellers in ... [Continue Reading]
