Trading Strategies' log !!

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How was Equity Market Today ?? (May 30, 2013)

In todays session, Nifty opened negative with 32 odd points on the back of negative global cues. It was volatile for the first half of the trading session, Nifty tested 6110 level, which was the intraday Resistance & corrected till 6080 level, swinged between these levels for a while. Second half of the trading session started with range bound move in the range of 20 odd points. In last half hour, Nifty broke its range on the up side, rallied up till 6135 levels due to influence of roll-overs of expiring May contracts. The session ended in green with a gain of 19 odd points. Sectors which lead the rally from front were AUTO & PHARMA on the other hand REALITY, METAL & BANKING showed some pressure in todays trading session.

 

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Glance Ahead - view for May 30, 2013 !!

As witnessed, Nifty closed above 6110 level without breaching its another important intraday Resistance level of 6140 level. For tomorrows session, in intraday, 6140 will again be an important Resistance level. If it manages to cross above this level, then a rally till 6180 & 6230 levels is next possiblity. On the down side, Nifty have got an intraday support at 6100 & 6050 levels, if it manages to trade below these support levels, then a correction till 6010 & 5970 levels might be seen. Traders are advised to trade cautiously in tomorrows session as GDP numbers are to be announced. Watch for 6100 level, as it is an important level for tomorrow.

Chart

 

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How was Equity Market Today ?? (May 31, 2013)

As witnessed, Nifty opened lower with a loss of 25 odd points despite of positive global cues because of the after effect of yesterdays expiry, as yesterday's rollover were not completed. In the first half of the trading session, it was seen that Nifty corrected till its intraday support of 6040 levels & traded range bound after GDP Number were announced. Nifty decline further because of poor GDP data in Q4, it was 4.80% which Better than Q3 data. GDP on YoY basis was at 5%, which was in line with government estimates, it is lowest in a decade. Due to this Nifty broke its intraday support of 6000 & tested its major support of 5970 levels. Index closed below 6000 levels. All the sectors ended up in red, except CNXIT which managed to close in green with the gains of more than 1%. Sectors which fueled Nifty's decline of the day were REALITY, BANKING & METALS.

Chart

 

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Glance Ahead - view for Equity Market on June 3, 2013 !!

Nifty closed below 6000 levels, which was 200 EMA on intraday 60 min charts, which is a negative sign for Nifty. On the daily chart, Head & shoulder pattern formation can be seen, which is again a bearish pattern, with neck line around 5970 levels. If Nifty gives closing below this level, then 180- 230 points decline is very much possible i.e. Nifty might trade at 5750 to 5700 levels, again. A gap was formed around 5850 levels, which might act as a support level for Nifty, in intraday. 5930 & 5900 levels are the next intraday Supports. On the up side, Nifty might face Resistance around 6025 & 6065 levels but major Resistance will be around 6140 levels. Traders are advice to watch for 5970 level, if Nifty seems to be closing below this level, then one can go for short-sell. The Next trading session might start with a range bound move. Another negative signal might be of USDINR crossing above 57 levels.

Chart

 

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Stock alert - ranbaxy !! (june 3, 2013)

RANBAXY- Stock has given a breakdown on daily charts, is also trading below its 52-weeks low. A Declining channel pattern is formed on weekly charts, lower band of the channel is around 345 levels, it may bounce from this level. If Ranbaxy closes below 361.80 levels, today, then possibility of 345 levels is very high, this might act as an important support level.

CHART

 

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Watch Your moves in Market Today !! (June 3, 2013)

As seen, Nifty is correcting since morning, it has broken down its neck line of its Head & Shoulder pattern (mentioned in last write up, Glance ahead- view for June 3, 2013) & also broken below its crucial support of 5936 level & sustaining below it. If it manages to close below this level, then further correction is possible. Next support levels for Nifty, in intraday are 5900 level . Major support is around 5850 levels. On the up side, 5967 & 5985 are the Resistance levels for intraday. If Nifty goes above 5950 levels & sustain above these levels, then a bounce can be seen.

CHART

 

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Watch Your moves in Market Today !! (June 5, 2013 at 12.40 PM)

NIFTY after opening negative it broke below its crucial support of 5900 levels & went down till its next intraday support of 5983, which also its 100 EMA on daily charts. If Nifty manages to cross above 5910 level & sustains above this level, then a bounce till 5955 & 5970 levels is possible. On the other hand, if Nifty breaks below its intraday low of 5983 levels, then further correction might be seen till 5850 levels, in intraday. Traders should wait for these levels. Sectors to be watched for long positions are PHARMA , ENERGY & REALITY, On the other hand, sectors for short positions in intraday are FMCG, BANKING & IT.

CHART

 

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What does Nifty Options' data tell Us? (June 5, 2013)

According to todays option data, In June series, Maximum open interest was build up at 5900 Jun call Option; on the Put side, maximum open interest was build up at 5800 Jun Put Option & 5700 Jun Put Option. This show that, today, positions has shifted to lower strike prices, in case of Call Options as well as put Options. This indicates that traders are expecting more negativity in market. Maximum total open interest is still at 5900 Jun Put Option. On the call side, it is on 6200 Jun Call Option & 6100 Jun Call Option; which shows the range for June series is still the same i.e. from 5900 to 6200 levels, but is slowly shifting lower as Nifty is still trading close to its lower band of the range. This has been observed that 5900 call strike added maximum open interest; which shows that 5900 might act as a crucial level for Nifty. The maximum Open Interest was reduced from 6000 June Put Option. On the call side, maximum open interest was reduced from 6000 June Call Option & has been shifted to Lower Strike Price. For tomorrows session, 5900 will be crucial support level for Nifty. 5800 will be a strong support & on the upside, 6000 will be the intraday resistance, 6200 will be a major resistance level. If Nifty holds below 5900 levels, then open interest might be seen shifting from 5900 Jun Put Option to 5800 Jun Put & 5700 June Option. On the call side 5900 will start adding more open interest. This might take the range of nifty lower But, if it could not hold below 5900 level, Then a bounce might be seen from that level, which might take Nifty to retest 6000 level.

 

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How was Equity Market Today ?? (June 5, 2013)

As seen, Nifty was opened slightly negative with 11 odd points, on the back of negative global cues. In the first half of the trading session, Nifty broke below its crucial support of 5900 level & traded below that level. It took support from 5983 levels, which was the 100 EMA on daily charts & bounced from that level & tested yesterdays close & declined further. In the second half of the trading session, Nifty again took support from days low levels, followed by a significant bounce & managed to trade in green. Nifty closed with marginal gains after range bound move in last hour of the session. Sectors which pulled Nifty in green were ENERGY, REALITY & INFRA. On the other hand, sectors ended up in Red were MEDIA, IT & FMCG.

 

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Glance Ahead - view for Equity Market on June 6, 2013 !!

As seen, Nifty could not hold below 5900 Levels & closed above yesterdays close . This indicates that Nifty might show a bounce from these levels. For Tomorrow's session, in intraday, 5945 is the next Resistance level. If it manages to cross above this level, then a rally might be seen till 5970 & 6000 levels. But a major Resistance is at 6100 levels. On the down side, intraday support is still 5900 levels but important support is at 5983 level. If Nifty manages to break this level, then further decline till 5850 & 5760 levels might be seen. Traders are advice to look for long positions in Nifty for a target of 6000 levels with a strict stop loss of 5883 levels.