Nifty analysis

pramodvarmag · #51 15th May 2008, 08:42 AM

Need to sustain above 5050

Nifty has done a good recovery from lower levels by moderating support levels. Now we are looking at 5050 which should be a level to cross and sustain to trigger a trend reversal in short term. The immediate upside targets are 5080 and 5100. In the downside 4920 and 4900 acting as immediate supports.

US markets recovered more. Added 66 points in Dow Jones. All Asian markets are trading in green. Nikkei has again of 144 points in early session.

Nifty May 2008 futures were at 5011.80, near spot price of 5011.75.

The NSE's futures & options (F&O) segment turnover was Rs 32,919.78 crore, which was lower than Rs 38,107.72 crore on Tuesday, 13 May 2008.

NSE market breadth was positive. 653:525.

Both FIIs and DIIs were buyer in capital market, according to provisional data from NSE.

Over bought level in crude oil price, likely some correction is possible. Yesterday closed at $ 124.22 at NYMEX.

Most of the Indian ARDs closed in green with a positive breadth.

pramodvarmag · #52 4th June 2008, 09:01 AM

After the volatile trade Nifty could find a stop of falling at 4630 which is remaining crucial for short term trade. This level may be protected by the bulls. Today morning trade may be volatile on mixed global cue. Bulls my ring up at lower levels. 4800 and 4830 are the upside targets/resistance levels for Nifty. Breaking 4630 can give more downside momentum to test 4500 for Index.

US markets lost 100 more points in Dow Jones. All other indices closed in red. Asian markets are trading mixed. Nikkei in +175 while HSI in -165.

Nifty June 2008 futures were at 4706, at a discount of 9.90 points as compared to spot closing of 4715.90.

The NSE's futures & options (F&O) segment turnover was Rs 40,448.71 crore, which was higher than Rs 35,257.77 crore on Monday, 2 June 2008.

NSE advances:declines was 345:852 - Negative market breadth.

FIIS were net sellers for 1020 crores in capital segment according to NSE provisional data.

nick721156 · #53 5th June 2008, 03:26 PM

dear friends,

this may not be the right thread to ask this question. but i would like to ask you knowlegeable people to educate me on NIFTY trading or else, direct me to the thread where i can learn about it.

regards,

nick

AW10 · #54 5th June 2008, 10:14 PM

Nick,
If you are new to trading then NIFTY trading or Any other trading is not very different.
Nifty Trading has its own advantages and Stock trading as its own limitations.
You can surf on "Index Trading" / "eMini Trading" etc on the net and go thru the material/ tutorials.
Once you have specific questions, then the people of this forum will be able to help you more. I am not sure if there is any thread here which takes you from Ground 0 to top floor on Nifty trading.

Keep learning and practicing.

pramodvarmag · #55 6th June 2008, 09:05 AM

The quick recovery from lower levels indicates some trend reversal to test 4730 and then 4800 on the upside in Nifty. Fresh buying and short covering helped the index to close above 4630, the crucial level. Market may find an immediate support at 4620-4610 zone. Need to watch how the market is responding to the inflation figures announced today noon.

US indices gave a bounce back yesterday. Dow recovered 213 points. Asian markets are in green, in the line with US cue. Nikkei added 222, HSI +240.

Nifty June 2008 futures were at 4671, at a discount of 5.95 points as compared to spot closing of 4676.95.

The NSE futures & options (F&O) segment turnover was Rs 51,017.90 crore, which was higher than Rs 48,378.31 crore on Wednesday, 4 June 2008.

NSE market breadth was flat to positive. Adcances: Declines was 593:583

FIIs were net sellers for 1418 crores while DIIs were net buyers for 570 crores.

nick721156 · #56 6th June 2008, 02:35 PM

Quote:

Originally Posted by AW10

Nick,
If you are new to trading then NIFTY trading or Any other trading is not very different.
Nifty Trading has its own advantages and Stock trading as its own limitations.
You can surf on "Index Trading" / "eMini Trading" etc on the net and go thru the material/ tutorials.
Once you have specific questions, then the people of this forum will be able to help you more. I am not sure if there is any thread here which takes you from Ground 0 to top floor on Nifty trading.

Keep learning and practicing.

Dear friend,

Thanks a lot for giving me a direction to start with.

regards,

nick

pramodvarmag · #57 9th June 2008, 09:14 AM

Market on Friday cold hit 4730, the first target. But it could not sustain at higher levels and went back to support levels at 4610. There was no attempt to recovery from lower levels.

Today the market may open gap down on weak global cue from US and Asian markets. Dow Jones has lost nearly 400 points on Friday. Nikkei in this morning session has a loss of nearly 300 points. All Asin pears are trading in red.

Nifty likely to test 4500 in opening. The crucial level of 4450 which one should be protected to hold the hope for bulls is very near. Breaking the key level may give some panic to give up another 200 points in Nifty in coming sessions. There is also resistance at 4730 on the upside.

Nifty June 2008 futures were at 4613.80, at a discount of 14 points as compared to spot closing of 4627.80.

The NSE's futures & options (F&O) segment turnover was Rs 42,888.38 crore, which was lower than Rs 51,017.90 crore on Thursday, 5 June 2008.

Weak market breadth at NSE, 440:734

FIIs were net buyers for 76 crores and DIIS' net buying was for 400 crores according to NSE provisional data.

Crude oil - Out of control

The record crude oil price triggered the sell of in the global markets. The single day price hike was $ 10.75 a barrel. The high price quited at $ 138.80 and settled at 138.54

sayanu · #58 10th June 2008, 05:26 PM

Quote:

Originally Posted by hindlevernet

There is absolutely no doubt that market is in extremely weak phase now. Nifty closing below 4900 on 11th and 12th February 2006 is ample evidence to this effect. We must be all wondering that where is the bottom of the market. With the help of Elliott Wave Principle, I have carefully analysed that Nifty may eventually touch 3600. I had been saying this on various message boards available on the net. In case you would like to have in depth discussion with me on this topic, I will be pleased to discuss the index movements as well as movement any stock you feel interested in. Thanks a million---SURESH MITTAL

dear friend,
I would surely like to discuss on your view that nifty touching 3600 if u can post any of ur views plz do
thanx sayan

pramodvarmag · #59 11th June 2008, 09:30 AM

Nifty lost the previous day's low yesterday and closed in a negative territory. The momentum oscillators like relative strength index on hourly chart of Nifty has created a pattern to perform some recovery from lower levels. Immediate resistance can be seen at 4535 and then near 4600. Immediate support is expected at 4425, 4400 levels.

US closed with a mixed to negative mood. Dow Jones ended by adding 9 points while NYSE composite lost 81 points. All Asian markets except China is trading in green to flat.

Nifty June 2008 futures were at 4453, at a premium of 3.20 points as compared to spot closing of 4449.80.

The NSE's futures & options (F&O) segment turnover was Rs 53,893.30 crore, which was lower than Rs 58,333.52 crore on Monday, 9 June 2008.

NSE market breadth was weak. 396:784

FIIs were net sellers for 910 crores in capital segment, according to NSE provisional data.
Crude oil at NYMEX corrected from top, lost 3.04 points and closed at $131.31

Most of the Indian ADRs are closed in red at NYSE. Sterlite was the biggest loser -4.35%.

prabhjeetrana · #60 11th June 2008, 11:49 AM

Quote:

Originally Posted by nick721156

dear friends,

this may not be the right thread to ask this question. but i would like to ask you knowlegeable people to educate me on NIFTY trading or else, direct me to the thread where i can learn about it.

regards,

nick

If you are looking to trade Nifty only then I suggest you to have a look at this thread, good for beginners

http://www.traderji.com/futures/1635...l-trading.html