Trading Strategies' log !!

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Equity Market on June 19, 2013

Nifty opened flat to negative with loss of 8 odd points, despite of positive global cues. In the first half of the trading session, Nifty went further down & tested its major support of 5770 levels, which was also it 200 EMA on Daily chart; it bounced & it tested 5810 levels. In the second half of the trading session, Nifty corrected & dipped down below 5800 levels & tested 5785 levels, made a higher bottom. Nifty, again, rallied up, broke its intraday high, formed higher high & managed to end up in green. Sectors closed in green were REALITY, METAL & INFRA on the other hand Sectors ended in red were PHARMA, IT & FMCG.

 

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Glance ahead - View for Equity Market on June 19, 2013

As seen, Nifty again closed above 5800 level today. It is trading between its two major averages on Daily chart i.e. 200 EMA & 100 EMA. For tomorrows session, In Intraday, Nifty will be having a strong support around 5770 levels, which is its 200 EMA, if it manages to break & hold below this level, then further correction might be seen till 5725 & 5680 levels. On the up side, Nifty will be having a strong resistance around 5870 level, which is also its 100 EMA on Daily chart, If it manages to break & sustain above this level, then further rise might be seen till 5930 & 5970 levels, in intraday. Traders are advised to watch for 5770 level, to take short-sell trades with strict stop loss. On the up side, if Nifty manages to sustain above 5800 level, then look for long trades with strict stop loss.

 

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Watch Your MOVES in Market Today !! (June 20, 2013)

As seen, Nifty has shown a GAP DOWN opening today & broke all its intraday support level. USD/INR has given a breakout & tested 60 levels with a new high of 60.0700 (of June Contract at 09.13 AM) as a result Nifty dipped sharply after opening. Now, for Intraday, as per spot levels 5680 is a crucial support level for Nifty, if it manages to go below this level, then further correction might be seen till 5645 & 5610 levels but the major support level is around 5430 levels. On the up side, 5710 is a strong resistance level for Nifty, in intraday, if it manages to break above this level and USD/INR seems to be filling the morning GAP, then a bounce might be seen in Nifty till 5740 & 5760 levels. Sectors which declined are REALITY, BANKING & METAL, only sector in green is PHARMA.

 

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Stock Alert - HDFCBANK (June 20, 2013)

HDFCBANK Stock is trading close to its major support of 636 levels, which is its 50 EMA on Weekly chart. if it manages to close below this level, then a break down might be seen in the stock, which may drag the stock to 585 levels. On the other hand, if it manages to close above 636 levels, break & sustain above 646 levels, then a bounce up might be seen in the stock till 675 & 695 Levels.

 

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Equity Market on June 20, 2013

Nifty opened GAP DOWN with loss of 68 points on the back of negative global cues. In the first half of the trading session, Nifty dipped down further for more than 100 points reason being, a Break-Out in USD/INR which crossed 60 levels. Nifty took support from its crucial level of 5680, then traded in a range-bound in band of 20 odd points. In the second half of the trading session, Nifty broke below its crucial support of 5680 level, correction further till 5645 levels. All the sector closed in red with heavy losses, sectors which were the biggest losers were REALITY lost more than 5%, METAL & Banking Lost more than 4% & MID CAP Lost 2.76%.

 

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Glance ahead - view for Equity Market on June 21, 2013

As seen, Nifty lost more than 150 points today, due to rise in USD/INR & negative global cues and broke below all the major support levels. So, Short-term trend for Nifty is Negative. In Intraday 5645 levels will be the crucial support level, if it manages to break & holds below this level, then further correction might be seen in Nifty till 5610 & 5550 levels. But the major support will be at 5440 levels. On the up side, 5685 & 5710 Levels will be the intraday resistance levels, if it manages to break & sustain above this level, then a bounce might be seen till 5765 & 5800 levels. Traders are advice to take short-sell trades at any significant rise with a strict stop loss for lower targets.

 

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Equity Market on June 24, 2013

As seen today, Nifty opened 29 odd points down on the back of negative global cues. Again, USD/INR opened higher & traded close to its all-time high. In the first half of the trading session, Nifty broke below its previous days low & tested 5600 levels, traded range bound in the band of 20 odd points. In the second half of the trading session, Nifty broke below 5600 levels, corrected further till 5560 levels. It took support & bounced to trade above 5600 level. But, In the end, it could not manage to close above 5600 levels. All the sectors ended in red most affected sector was REALITY which was down more than 4%, INFRA, MEDIA & FMCG were also down more than 2% & MIDCAP was down 2.60%.

 

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Glance ahead - View for Equity Market on June 25, 2013

As witnessed, Nifty was trading in a very steep Declining-channel on Daily chart; today, it took support from the bottom of its declining channel at around 5560 levels which shows that there is a good possibility of bounce up from here. Now, On the up side, 5630 will be the closest resistance level in intraday; if it manages to break & sustain above this level, then a bounce might be seen till 5680 & 5720 levels but 5760 might act as a strong Resistance for Nifty. On the down side, 5560 is the important support level, if Nifty manages to break & holds below this level, then further correction might be seen till 5540 & 5500 level, in intraday & 5440 will be a major support level for Nifty. Traders are advice to build their position carefully with strict stop loss & watch for 5560 level for down side & for upside if Nifty manages to sustain above 5600 level.

 

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How was Equity Market on June 25, 2013 !!

As seen, Nifty opened in green today, on the back of positive global cues. In the first half of the trading session, Nifty started with a range bound move in the band of 30 odd points & hovered around 5600 levels for some time. In the second half of the trading session, Nifty went above its intraday resistance level of 5620 & bounced up till a significant level, as mentioned in our previous article till 5670 level. In the last one hour of trading session, some profit booking was seen which took Nifty around 5600 level but managed to close above 5600 level in green. Sectors which managed to end in green were ENERGY, FMCG & INFRA, on the other hand, MEDIA, METAL & IT sectors ended in red.

 

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Glance ahead - View for Equity Market on June 25, 2013

As seen, Nifty ended in green which shows that possibility of upside is still there. On the up side, for intraday, 5680 levels will be acting as a strong resistance level, if it manages to break & sustain above this level, then further rise might be seen till 5720 levels, but 5760 will be the major resistance for Nifty in short term. On the down side, 5580 & 5560 are the crucial support levels for Nifty, in intraday, if it manages to break & hold below this level, then further correction might be seen till 5440 levels which will be acting as a major support for Nifty for short term. Traders are advice to take long positions in Nifty, if it manages to sustain above 5600 levels.