Nifty analysis

pramodvarmag · #11 4th April 2008, 09:15 AM

As expected, market closed with a gain of 17 points in Nifty. Th immediate tested support at 4740 should be a crucial one for the the day. If breaks, further weakness up to 4690, 4630 is possible. The near resistance is at 4800, 4840. In the last trading day of the week, the inflation figures coming out at noon will influence the market sentiment.

US markets ended in green zone. Dow Jones was up by 20 points. Asian markets are in some losses. Nikkei is down by 90.

Foreign fund were net sellers for 393 crores while DIIs were net buyers for 265 crores in capital segment according to NSE provisional data.

Nifty April 2008 futures were at 4785, at a premium of 13.40 points as compared to spot closing of 4771.60.

The NSE's futures & options (F&O) segment turnover was Rs 32,513.16 crore, which was lower than Rs 34,170.35 crore on Wednesday, 2 April 2008.

NSE market breadth was weak. 441:736

Crude oil at $ 103.83 a barrel at NYMEX

INdian ARDs at NYSE closed mixed. Satyam Computer services Ltd. gained 4.21%

alpha.beta · #12 6th April 2008, 01:47 PM

hi hindlevernet,

are u same who writes at moneycontrol.com under same thread name "will nifty sink to 3600?" .if u r same,then i have huge respect for u. i am continuously reading ur messages on moneycontrol. they r highly educational. i think u r only one who had a courage to post this message around end of the month november when every one was bullish and predicating target for sensex of 25000.
sir i have no knowledge of ewt as like u. but since downtrend started january, i am continuously reading messages of your's and other seniors analysts from various sites.i have few quaries about this downtrend wave count of nifty. if u will guide about that ,then i will very grateful to u. WAVE A 6357---4448, WAVE B 4448---5545,WAVE C 5545---3606 or 2537 ??? how important it is to calculate time frame for bottoming out index? it is so, then what is time frame/duration for nifty to bootom out?

awaiting for ur & other seniors comments eagarly.
a l p h a b e t a

Adheer · #13 6th April 2008, 03:59 PM

When the Sensex was at 21,000 various analysts and Ellioticians were predicting wave of 25,000. These days they are predicting waves of 12,000.

There is a reason why the best traders in the world like George Soros, Jim Simmons, Eddie Lampert, John Arnold keep making money. The rest keep making predictions.

Quote:

Originally Posted by pramodvarmag

The strong global cue could not save indices to close with a considerable gain compared to other markets. The Nifty faced resistance at near 4920 and closed near to 61.8% of the last pullback-4740. From here markets may lead to a consolidation. 4714 is a support level, then 4650. 4800 and 4835 are resistances for spot Nifty.

After a bull rally, US indices corrected a bit on profit taking. Dow jones closed with a loss of 48 points. Asian markets in mixed. Nikkei is in a gain of 63 points in morning session. Hangseng also in green.

FII activity in Indian markets was very low. Their net selling was for 135 crores.
DIIs net buying was for 264 crores.

Nifty April 2008 futures were at 4741.15, at a discount of 13.05 points as compared to spot closing of 4754.20.

The NSE's futures & options (F&O) segment turnover was Rs 34,170.35 crore, which was lower than Rs 35,886.84 crore on Tuesday, 1 April 2008.

NSE market breadth was strong. Advances : declines were 724:456.

shadowliger · #14 6th April 2008, 05:15 PM

Well said Adheer,
People just go by charts and cues, but more than that Traders and investors mentality is the one that decides the market.
Who knows how money flows, after all goddess Lakshmi is more volatile.

hindlevernet · #15 6th April 2008, 10:24 PM

Hi,

NIfty is likely to rise in the range of 4740-4780 tomorrow ( 07 April ) which is a major supply zone. It may fall to about 4450 in next few days after it touches the above range. Thanks

sillu_m · #16 7th April 2008, 02:23 AM

Quote:

Originally Posted by hindlevernet

Hi,

NIfty is likely to rise in the range of 4740-4780 tomorrow ( 07 April ) which is a major supply zone. It may fall to about 4450 in next few days after it touches the above range. Thanks

I too feeling the same may be we can see 4450 in few days. Most of the stocks r looking bearish.

swdas · #17 7th April 2008, 08:21 AM

For 07/04/2008, As per me NIFTY future is short at 4700 with SL 4745.

We may see following targets 4620 and 4554.

Please track this. Do not trade.

Thanks,
Swapan

pramodvarmag · #18 7th April 2008, 09:16 AM

As we discussed in Fridays outlook, Nifty breaks the crucial support at 4740, and tested the low near to 4630. The inflation fears triggered the panic selling on Friday. For today Nifty likely to trade in 4590-4700 zone. IF Nifty falls below 4590, it may fell to 4550. above 4700, 4740 will be a hurdle.

Any steps from Government to take control on inflation which hit 7%, a three years high, can influence the market sentiment. The target levels of inflation of RBI is below 5%.

US markets gave a mixed close on Friday. In this morning Asian peers are in green zone except Strait time of Singapore. Nikkei is in a gain of 57 points while Hngseng is up by 215 points.

FIIs were heavy sellers for 848 crores while DIIs' net investment was for 579 crores.

Nifty April 2008 futures were at 4666.10, at a premium of 19.10 points as compared to spot closing of 4647.

The NSE's futures & options (F&O) segment turnover was Rs 33,723.32 crore, which was higher than Rs 32,513.16 crore on Thursday, 3 April 2008.

pramodvarmag · #19 8th April 2008, 08:26 AM

The broad market may consolidate with a positive bias. The recent technical support for Nifty to keep the immediate uptrend is at 4720. As of Now index has a mild resistance at 4800. If convincingly breaks this, it can go up to 4830, 4860 levels.

The US market ended flat after trading in a positive zone through out the day. Some profit booking was seen at the end as earnings fears temper credit hopes. Asian markets in a correction. Nikkei is down by 125 points and Hangseng down by 184 points.

FIIs were net buyer in capital segment for 346 crores. DIIs net invested for 245 crores according to NSE provisional data.

Nifty April 2008 futures were at 4775, at a premium of 13.80 points as compared to spot closing of 4761.20.

The NSE's futures & options (F&O) segment turnover was Rs 32,302.80 crore, which was lower than Rs 33,723.32 crore on Friday, 4 April 2008.

NSE advances:declines were 754:424, the postivive market breadth.

Crude oil price again surged up to $ 109.09 (+2.86) at NYMEX.

Almost all Indian ADRs at NYSE ended with a gain of 1 to 5%.

pramodvarmag · #20 9th April 2008, 08:42 AM

Market was volatile in the line with Asian cues, yesterday. The new tested support for Nifty is at 4680 and the next is at 4630. 4775 and 4800 are resistances on the upside. The market may consolidate in this region. 4630 is an important short term support which should be protected by bulls to keep their hold in the market.

Us market corrected some points. Dow Jones was down by 35 points for daily closing at 12576. 12450 of Dow is a trend line support to move up 12800 on the upside.
Asian markets are in mixed mood. Nikkei is almost flat (-5), Hangseng is in gain of 54 points.

Nifty April 2008 futures were at 4690.30, at a discount of 19.35 points as compared to spot closing of 4709.65.

The NSE's futures & options (F&O) segment turnover was Rs 33,143.36 crore, which was higher than Rs 32,302.80 crore on Monday, 7 April 2008.

NSE market breadth is remaining positive. Advances:declines was 620:548

The FII activity was low on Tuesday. Their net buying was for 7 crores and DIIs' net investment was for 447 crores, according to NSE provisional data.

Crude oil price at NYMEX is at $ 108.5 a barrel.
Indian ADRs were in a correction of 1 to 7 percent.