Bulls Push Nifty Futures Trading Higher

Futures TradingThe Indian Stock markets were entirely in the positive landscape on Friday trade led by financials and IT shares. The Bombay Stock Exchange Sensex closes at 21194 were up by 119 points or 0.56 percent. Bse Mid cap Index moves up by 0.26 percent and the Bse Small Cap Index profited by 0.13 percent on Fridays Day Trade.

Sensex Major Resistance on Upside at 21257-21320-21382

Sensex Major Support on Downside at 21109-21024-20961

Trend Deciding Level at 21172

Nifty Index Major Resistance on Upside at 6405-6495-6585

Nifty Index Major Support on Downside at 6145-5975-5885

Trend Deciding Level at 6235

Major Headlines

Dena Bank receives Rs 700 cr capital infusion from government

3i Infotech to sell assets to pay back 20-30% on its debt

Hinduja Foundries board Okays preference issue of 17.8 million shares to promoters

Hindustan Motors to divest whole or part of Chennai car plant

Indian Indices

The Nse Nifty Index closed in the positive note on Friday, were up by 35 points and closes at 6313. In excess of the next couple of days it is expected to trend is up till 6340. In this period the key support will be at 6274 and resistance will be at 6340.

The Nifty has taken support around an upward sloping trend line and formed higher tops and higher bottoms on the daily chart which is a bullish sign for the market

In the daily chart the index is trading above the Twenty-Daily moving averages (DMA) and the Forty-DMA, ie 6238 and 6175 correspondingly. The momentum pointer is trading in positive mode.

In the hourly chart, the Nse Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 6293 and 6175 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned positive. The market breadth was positive mode on friday with 626 advances and 550 declines on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 6391-6411-6431

Nifty Future Major Support on Downside is at 6343-6315-6295

Trend Deciding Level at 6363

Bank Nifty Major Resistance on Upside at 11626-11696-11766

Bank Nifty Major Support on Downside at 11485-11414-11344

Trend Deciding Level is at 11555

5 Daily Moving Average @ 6283

50 Daily Moving Average @ 6178

200 Daily Moving Average @ 5900

5 Days Relative Strength Index @ 69 and 14 Days Relative Strength Index @ 58 INDICATES NIFTY PLACED IN TRADING ZONE, WITH BULLISH MOMENT.

Futures Trading

Buy Nifty Fut January above 6400 sl 6375 Tgt 6420-6445 {Or} Sell Below 6350 sl 6375 Tgt 6330-6305

Buy Bank Nifty January above 11600 sl 11550 Tgt 11650-11700 {Or} Sell Below 11500 sl 11550 Tgt 11450-11400

Base Metals Jago and Agri Commodities Bago

Commodity TradingBase Metals In the coming week we might see overall trading participation to remain lower than normal as the Holiday mood continues in and around New Year. On the economic data front, we have the pending home sales reading on Monday which as per Bloomberg expectations is seen rising by 1% after dropping by 0.6% last month. However, the pending home sale which has been continuously falling for last five months has a chance for negative surprise. Housing sales has been falling amidst increasing mortgage rates and also raise in house prices due to low inventory. Another number on the same segment is the S&P/Case Shiller Home Price which is expected to show extended increase in house prices. Nevertheless, despite these readings markets may witness dullness ahead of the year end celebrations. Overall as per the economic cues are concerned, most of the data pertaining to base metals could continue to support the base metals during the coming week. Gains however might be limited due to lower than normal participation in the markets. There are other economic data from Europe and Asia as well.

Coming to the commodity trading specific updates, we maintain a cautious to moderately bearish outlook on nickel as there have been no developments in Indonesia regarding the release of the draft policy on ore export ban. Even though the prices of the commodity rallied since last three weeks, concerns of higher inventories and prevailing supply surplus in the commodity still remains. We continue to maintain our positive outlook on lead on the back of anticipated demand from the western countries due to cold weather which requires frequent replacement of the batteries and demand deficit situation in the commodity. We recommend buying Zinc from the lower levels during the week on the back of tightening supply in the commodity where in the inventories have been declining since last 39 trading session. In the coming weeks both Lead and Zinc prices at the MCX platform might adjust with the LME prices and advice the traders to exercise caution while taking buying positions. Copper might get support from the positive set of manufacturing and housing sector related data indicating a strong recovery in the US economy there by indicating that the demand for the metal from the world`s largest economy. Overall we have a mixed view on the base metals for the coming week and recommend buying select base metals like Copper, Lead and Zinc and recommend selling nickel.

Cardamom Prices opened almost up and traded sideways in a tight range. However it starts improving during later part of the week with sharp jump towards its weekend. It marked the days high but unable to sustain at higher levels towards INR 697.10 and decline marginally amid long liquidation and finally closes with the formation of short filled candle indicating almost sideways price movement. OI continue to decline but volume stay at higher levels hinting short covering at lower levels. Moreover clear indication is still lacking from OI and volume front to decide the immediate trend. It is continue to extend its previous couple of weeks trend and any jump towards is resistance might face stiff resistance towards its falling channel line. However it got strong support near INR 570 where is likely to get a technical bounce towards its resistance near INR 715. Prices already trading below 20 and 50 day EMA at INR 707 and 771 were signaling short term weakness. The 14-day RSI is curving down while stochastic (9, 3, 3) is continue to decline in neutral region indicating sideways movement. Prices are likely to trade sideways with weak bias during coming weeks.

Major Resistance Weekly on Upside at 715-760

Major Support Weekly on Downside at 630-570

Trend Deciding Weekly Level at 680

Turmeric Prices opened steady and remain in a narrow range with flat and initial weakness during the week under review. It almost forms an inside day trading pattern with bearish doji pattern with possibility of trend reversal in days to come. However, it might test its falling trend line and any two closes below the same shall turn the sentiments negative. The prices are likely to trade in the range of INR 6070-6653 during the week. OI decline significantly at higher levels indicating profit booking which results into sharp decline in prices from its high. Any major decline might find support towards its EMA zone from where it may again likely to get a technical bounce. On the upper side, INR 6653 to 6820 is the resistance zone. The 14-day RSI surged and moving away from its MA While stochastic (9, 3, 3) is continue to stay flat in neutral region indicating sideways movement during coming couple of weeks.

Concisely prices are likely to trade sideways during coming couple of days.

Major Resistance Weekly on Upside at 6653-6820

Major Support Weekly on Downside at 6070-5692

Trend Deciding Weekly Level at 6320

Jeera Prices opened weak and witness weak trade during the week. Later on the prices tumble as it breached its crucial support of INR 12600 and continue to decline during the week. It tried to fetch its immediate resistance but fails to sustain above the same and got good selling pressure from its higher levels. Finally it forms a long filled candlestick hinting bearish momentum is likely to continue. It is in continuation of the previous weak trend and enters into a rectangle of previous consolidative phase. It is likely to test its support towards INR 12180 where it might find trend line support. Any jump might face stiff resistance towards INR 12942 and breaching the same shall turn the sentiments positive. OI improved significantly while volume decline in continuous chart. Moreover, there is no clear indication from OI front to decide the market direction as of now. Prices already trading below 20 and 50 day EMA at INR 12813 and 13150 was signaling short term weakness. The 14 day RSI and Stochastic (9,3,3) is moving down which might keep the trade sideways in short term. MACD is trading in negative territory showing some bearish movement in coming weeks. Considering the above factors price is likely to trade sideways in near term.

Major Resistance Weekly on Upside at 12942-13270

Major Support Weekly on Downside at 12180-11890

Trend Deciding Weekly Level at 12535

Sugar Prices open steady and traded sideways for a while but unable to hold higher levels and decline during later part of the weeks and witness inside week trading pattern. Later on the price’ closes with the formation of bullish candlestick hinting trend strength in days to come. OI improved significantly while volume decline in continuous chart. Moreover, there is no clear indication from OI front to decide the market direction as of now. However any fresh building of OI with high volume and trending market might cite some indication for initiation of the new rally moving forward. The 14-day RSI and stochastic (9, 3, 3) is moving flat with marginal weakness indicates sideways trade. More or less prices might trade in the range of INR 2751 and 2848 and any two consecutive closes below or above the same shall direct futures trend for short term. Concisely prices are likely to trade sideways during coming couple of days.

Major Resistance Weekly on Upside at 2848-2895

Major Support Weekly on Downside at 2751-2689

Trend Deciding Weekly Level at 2801

Commodity Trading Tips

BUY COPPER MCX FEB ON DISP NEAR 464 SL 456 TGT 470

BUY LEAD MCX JAN ON DIPS NEAR 138.50 SL 134.50 TGT 142.50

SELL SUGAR NCDEX JAN AROUND 2830 SL 2848 TGT 2785-2860

SELL CARDAMOM NCDEX JAN NEAR 715 SL 760 TGT 65-635

SELL TURMEIC NCDEX APRIL AROUND 6490 SL 6653 TGT 6120-5970

SELL JEERA NCDEX MARCH NEAR 12750 SL 12942 TGT 12400-12250

Oil Complex Will Look Down

Ref Soya Oil

CommodityJanuary contract at NCDEX traded in a moderate range on Friday with buyers entering at every decline. The MACD remains below its moving average therefore giving a negative outlook for the derivative. RSI now offers a positive outlook for the day. Bearish signals are available from the Directional indicator, but the candlestick pattern suggests possibility for a higher price action. Short positions can still be continued and the preferred entry shall near 697.

Major Resistance on upside at 699-701

Major Support on downside at 692-686

Trend deciding level at 689

Soyabean January contract at NCDEX traded in a moderate range and faced selling interest at every rise.RSI suggests shifting interest towards sellers, while MACD trades above its signal line. Declining buying interest is diminishing as viewed from the Directional indicator. All in all, the downside potential remains higher for the upcoming session. One should sell January soybean after a moderate correction

Major Resistance on upside at 3618-3666

Major Support on downside at 3564-3510

Trend deciding level at 3549

Jeera Prices opened steady and slipped sharply during early trade but mild recovered after couple of hours finally the prices close with the formation of bearish candle hinting sideways to bearish trend in short term. Now OI and Volume are decreasing signaling some profit booking at higher levels. Prices are in a consolidative phase and the same is likely to extend further. However it might find stiff resistance from the region of falling trend line and the same is likely to keep the trade sideways. Prices’ already trading below 20 and 50 day EMA at INR 12685 and INR 12665 was signaling short term weakness. On the downside INR 12280 to INR 12055 might act as strong support zone and may prevent prices to go sharply beyond the given level. The 14 days RSI and Stochastic (9,3,3) starts decreasing which shall keep prices to trade steady to weak. Concisely prices has made bearish crossover and expected to trade with negative bias so one should enter in sell side

Major Resistance on upside at 12680-12822

Major Support on downside at 12280-12055

Trend deciding level at 12430

Turmeric prices opened steady and slipped marginally but being unable to break the given support at INR 6140 surged sharply. Candlestick pattern is still suggesting weak trend in days to come. On the downside INR 6140 and 5970 might act as strong support zone and may prevent prices to go sharply beyond the given level. Prices are expected to face strong resistance at 20 and 50 day EMA at INR 6291 and INR 6283.OI and Volume are increasing at lower levels indicating some buying interest at lower levels. MACD is trading in negative territory showing some weakness in coming trading session. The 14 days RSI and Stochastic (9,3,3) is trading in neutral region with downward bias which shall keep prices to trade negative. Concisely prices are expected to show some profit booking in coming trading session which may lead prices to go down.

Major Resistance on upside at 6390-6510

Major Support on downside at 6140-5970

Trend deciding level at 6270

Cardamom After an initial surge, Prices consolidated near the upper band of immediate resistance at INR 705 and slipped during the last trading hours and ended the day with the formation of a hanging man indicating technical correction. Prices are expected to face strong resistance at 20 and 50 day EMA at INR 702 and INR 733.On the downside INR 668 and 645 might act as strong support zone and may prevent prices to go sharply beyond the given level. On the upper side, INR 705 to 722 is the resistance zone. MACD is trading in negative territory showing some weak movement in coming trading session.

The 14 day RSI is trading neutral zone with upward inclination and Stochastic (9,3,3) is also trading in a neutral zone along with upward. Above facts are indicating some short covering in coming trading session  and one may enter in buy at lower levels.

Major Resistance on upside at 705-722

Major Support on downside at 668-645

Trend deciding level at 660

Commodity

SELL REFSOYA OIL NCDEX JAN NEAR 697 SL 700.50 TGT 695-691

SELL SOYABEAN NCDEX JAN AROUND 3790 SL 3815 TGT 3745-3735

SELL JEERA NCDEX MAR NEAR 12530 SL 12680 TGT 12300-12200

SELL TURMERIC NCDEX APRIL AROUND 6350-6390 SL 6510 TGT 6150-5970

BUY CARDAMOM NCEDX JAN AROUND 668 SL 645 TGT 696-715

Jeera Can Move Upside Today

Jeera Commodity Advisory ServicesPrices opened steady and surge up during early trades and being unable to sustain at higher levels and witness selling pressure from day’s high and recovered during last trading hours. Prices closed with the formation of hanging candle indicating weak trend during coming couple of trading session. Now OI and Volume are decreasing signaling some profit booking at higher levels. On the downside INR 12420 to INR 12190 might act as strong support zone and may prevent prices to go sharply beyond the given level. Prices already trading below 20 and 50 day EMA were signaling short term weakness. MACD is trading in the negative zone supporting the bear trend in coming days. The 14-day RSI and stochastic (9, 3, 3) is continue to stay flat in neutral region which might keep prices to stay sideways during coming couple of weeks. Concisely prices are expected to trade with negative node and one may enter in sell side.

Major Resistance on upside is at 12765-12910

Major Support on down side is at 12420-12190

Trend Deciding Level is at 12610

Turmeric Prices opened up and witness lack luster trade and stay sideways till noon when it spiked up after breaching its immediate resistance of INR 6285. Technical buying triggered after breaching the same and led the prices to surge high and breached its key resistance of INR 6354. Later part of the trading session witness marked improvement as it continue to garner buying after it breach its crucial levels. Finally it closes with the formation of un-filled candlestick indicating marginal firmness for short term. Meanwhile, it is likely to stiff resistance towards its upper line of falling channel line which might keep the prices to stay sideways within the falling channel. Prices’ already trading above 20 and 50 day EMA were signaling short term strength. The 14 day RSI and Stochastic (9,3,3) stay sideways with no clear indication. This shall keep short term trend sideways for short term. Concisely prices are expected to stay sideways during coming couple of trading session

Major Resistance on upside is at 6540-6730

Major Support on down side is at 6120-5990

Trend Deciding Level is at 6380

Cardamom Prices opened up and surge marginally during early trading session. However it fails to sustain at higher price levels and plunged down later on during morning trading session. Selling pressure could be seen during later part which kept the prices at sideways. OI increase significantly at lower levels indicating short covering which results into sharp rise in prices from its low. However Volume also increasing at lower levels with increasing candle indicating downward trend is losing momentum. Any surge further might get resistance near its 50 day EMA where prices might get some resistance. Breaching the same might pave the way for further upside. Any surge might face strong resistance towards INR 722.On the downside INR 668 to INR 645 might act as strong support zone and may prevent prices to go sharply beyond the given level. MACD is trading in negative territory showing some bearish movement in coming weeks. The 14 day RSI and Stochastic (9,3,3) is moving down which might keep the trade sideways in short term. Above points are indicating some short covering at lower levels.

Major Resistance on upside is at 705-722

Major Support on down side is at 668-645

Trend Deciding Level is at 682

Sugar Prices opened steady near yesterday’s close at INR 2798 and slipped sharply but being unable to break the given support at INR 2765 and surged marginally and ended the day with the formation of a doji candle signifies temporary halt in current trading session but weakness could be seen only below the break of the support at INR 2765. OI improve while volume decreased during Thursday trading session indicating long liquidation. Any surge might face strong resistance towards INR 2832.On the downside INR 2765 to INR 2745 might act as strong support zone and may prevent prices to go sharply beyond the given level. The 14 days RSI and Stochastic (9,3,3) starts increasing which shall keep prices to trade steady to mild positive. MACD is trading in neutral region with upward bias indicating strength in near term. Concisely prices may slip further and one may enter in sell if prices gave some recovery.

Major Resistance on upside is at 2832-2853

Major Support on down side is at 2765-2745

Trend Deciding Level is at 2797

Commodity Advisory Services Tips

SELL JEERA NCDEX MAR AROUND 12650 SL 12765 TGT 12500-12380

BUY CARDAMOM NCDEX JAN AROUND 668 SL645 TGT 696-715

Market Rising Progressively

Indian shares lip moves up as blue chips comprehensive rally on continued strong buying by IntradayTipsforeign institutional investors, even though volumes were slender during the holiday week. The Bombay Stock Exchange Sensex closes at 21075 were up by 42 points or 0.20 percent. Mid cap Index moves up by 0.41 percent and the Small Cap Index profited by 1.15 percent on Thursdays Day Trade.

Sensex Major Resistance on Upside at 21135-21195-21255

Sensex Major Support on Downside at 21015-20955-20895

Trend Deciding Level at 21075

Nifty Index Major Resistance on Upside at 6302-6324-6346

Nifty Index Major Support on Downside at 6255-6230-6208

Trend Deciding Level at 6277

Major Headlines

Crompton Greaves promoter creates pledge on 84 lakh shares

Jindal Saw block deal: 10 lakh shares exchanged on NSE at Rs 52.05/share

Firstsource Solutions block deal: 10 lakh shares exchanged on NSE at Rs 20.40/share

Fortis Healthcare promoters pledge 4.7 cr shares from December 18-23

Religare Enterprises promoters pledge 1.4 cr shares from December 18-23

SJVN block deal: 15 lakh shares exchanged on NSE at Rs 20.65/share

Indian Indices

The Nse Nifty Index closed in the positive note on yesterday, were up by 10 points and closes at 6279. In excess of the next couple of days it is expected to trend is up till 6340. In this period the key support will be at 6257 and resistance will be at 6317.

The Nifty has taken support around an upward sloping trend line and formed higher tops and higher bottoms on the daily chart which is a bullish sign for the market

In the daily chart the index is trading above the Twenty-Daily moving averages (DMA) and the Forty-DMA, ie 6227 and 6169 correspondingly. The momentum pointer is trading in positive mode.

In the hourly chart, the Nse Nifty is trading around the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 6286 and 6257 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned negative. The market breadth was positive mode on yesterday with 798 advances and 377 declines on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 6360-6377-6394

Nifty Future Major Support on Downside is at 6328-6313-6296

Trend Deciding Level at 6345

Bank Nifty Major Resistance on Upside at 11579-11628-11676

Bank Nifty Major Support on Downside at 11447-11364-11315

Trend Deciding Level is at 11496

5 Daily Moving Average @ 6254

50 Daily Moving Average @ 6174

200 Daily Moving Average @ 5898

5 Days Relative Strength Index @ 61 and 14 Days Relative Strength Index @ 56 INDICATES NIFTY PLACED IN TRADING ZONE, WITH BULLISH MOMENT.

Intraday Tips

Buy Nifty Fut January Above 6360 sl 6335 Tgt 6380-6400 {Or} Sell Below 6310 sl 6335 Tgt 6290-6265

Buy Bank Nifty January Above 11580 sl 11530 Tgt 11630-11680 {Or} Sell Below 11480 sl 11530 Tgt 11430-11380

Sugar will be Sweet Today

Commodity Intraday TipsCardamom prices opened steady near yesterday’s closing and surged marginally but being Unable to break the given resistance at INR 705 slipped marginally and traded in a narrow range and recovered sharply during later trading session. Finally closes with the formation of a green candlestick Indicating positive pattern in coming couple of trading sessions. Now OI and Volume are increasing signaling some short covering at lower levels and this situation may lead sharp rise in prices in coming trading session. The prices ended below the EMAs and thus indicating the possibility of further downtrend in prices. Any surge might face strong resistance towards INR 705.On the downside INR 645 to INR 628 might act as strong support zone and may prevent prices to go sharply beyond the given level. The 14 day RSI is trading neutral zone with downward bias and Stochastic (9,3,3) is also trading in a neutral zone along with downward. Concisely prices are expected to show some profit booking in coming trading session.

Major Support on downside at 645-628

Major Resistance on upside at 705-722

Trend Deciding Level at 676

Turmeric Prices opened steady and moved range bound during the day as it witness marked selling pressure during mid day of trading followed by marginal recovery during later trading days. Finally prices close with the formation of filled candlestick which indicates weak momentum is likely to continue further. OI improves sharply while Volume decline during the day indicating possible building of long position at lower quotes. However clear indication is lacking to guide the market direction. Breaching of the key support of INR 5980 might extend its downfall towards INR 5750.MACD is trading in negative zone signifies weakness in coming trading session. The 14-day RSI is trading in neutral region with downward bias while stochastic (9, 3, 3) is continue to fall in neutral region indicating sideways movement. Prices are likely to trade sideways with weak bias during coming weeks.

Major Support on downside at 5980-5750

Major Resistance on upside at 6345-6545

Trend Deciding Level at 6136

Jeera Prices open steady and traded sideways for a while but unable to hold higher levels and slipped during later part of the day and witness weak trading pattern. Later on the price’ closes with the formation of bearish candlestick hinting weak trend in days to come. Volume decline marginally hinting profit booking at higher levels.27 Day EMA might act as a strong resistance and breaching the same shall drive its prices towards 20 Day EMA. Any surge might face strong resistance towards INR 12690.On the downside INR 12350 to INR 12200 might act as strong support zone and may prevent prices to go sharply beyond the given level. It is continue to extend its previous couple of weeks trend and any jump towards is resistance might face stiff resistance towards its falling channel line. MACD is trading in neutral region with downward bias indicating weakness in near term. The 14 days RSI and Stochastic (9,3,3) starts weakening which shall keep prices to trade steady to weak. Prices are likely to trade sideways with weak bias during coming couple of days.

Major Support on downside at 12350-12200

Major Resistance on upside at 12690-12858

Trend Deciding Level at 12528

Sugar prices opened almost steady at INR 2771 surged sharply but being unable to break the given resistance at INR 2832 and traded in an upper channel during the day. Although on the downside, INR 2765 is the support zone and price may face support and halt the rally for a while but overall up trend is expected to continue as supported by Volume and OI. On the upper side INR 2832 to 2853 is the resistance zone and in short term, Prices are expected not to break the given level.OI improve during Tuesday trading session indicating long liquidation. Prices are expected to face strong resistance at 50 day EMA at INR INR 2817. MACD is trading in negative region signifies short term weakness. The 14 day RSI and Stochastic (9,3,3) stay sideways with no clear direction. This shall keep short term trend sideways for short term. Concisely prices are expected to trade with high volatility and one should stay away from the market.

Major Support on downside at 2765-2745

Major Resistance on upside at 2832-2853

Trend Deciding Level at 2798

Soyabean contract at NCDEX traded in a moderate range and faced selling interest at every rise. Over previous session, January soybean was down Rs.36.50/qtl. RSI suggests shifting interest towards sellers, while MACD trades above its signal line. Declining buying interest is diminishing as viewed from the Directional indicator. All in all, the downside potential remains higher for the upcoming session. One should sell January soybean around 3852

Major Support on downside at 3830-3778

Major Resistance on upside at 3852-3880

Trend Deciding Level at 3842

Commodity Intraday Tips

Sell Cardamom Ncdex Jan around 685 sl 705 Tgt 660-640

Sell Jeera Ncdex Mar near 12690 sl 12858 Tgt 12400-12300

Sell Soyabean Ncdex Jan Around 3852 sl 3871 Tgt 3820-3810

Elachi Me Elachi Kidar Gaya

Commodity TipsCardamom  Prices opened steady and moved range bound during the day as it witness marked selling pressure during mid day of trading followed by marginal recovery during later trading days. Finally prices close with the formation of filled candlestick which indicates bearish momentum is likely to continue further. OI improves sharply while Volume decline during the week indicating possible building of long position at lower quotes. However clear indication is lacking to guide the market direction. Breaching of the key support of INR 645 might extend its downfall towards INR 628. MACD is trading in negative zone signifies weakness in coming trading weeks. The 14-day RSI is trading in neutral region with downward bias while stochastic (9, 3, 3) is continue to fall in neutral region indicating weak movement. Prices are likely to trade sideways with weak bias during coming weeks.

Major Resistance on upside at 705-722

Major Support on down side at 645-628

Trend Deciding Level at 676

Turmeric Prices opened weak and surged sharply but being unable to sustain at higher levels and slipped sharply during last couple of hours and ended the day with the formation of red candle signifies negative trend in coming days. Volume decline marginally hinting profit booking at higher levels. Moreover clear indication is still lacking from OI and volume front to decide the immediate trend. Despite a spike during later part of day, prices unable to sustain its higher levels and cool down towards its open with and traded almost sideways in continuation with the previous weak movement. Any surge might face strong resistance towards INR 6345.On the downside INR 5980 to INR 5750 might act as strong support zone and may prevent prices to go sharply beyond the given level. The 14 days RSI and Stochastic (9,3,3) starts weakening which shall keep prices to trade steady to weak. Prices are likely to trade sideways with weak bias during coming couple of days.

Major Resistance on upside at 6345-6545

Major Support on down side at 5980-5750

Trend Deciding Level at 6140

Jeera It extended its previous week trend as short selling seen during Monday trading sessions after the prices breached its crucial support of INR 12830. It continues to face selling pressure throughout the day except mid day where marginal improvement could be seen. Finally it closes with the formation of filled candlestick formation indicating possible weakness in near term. However, it might find support towards INR 12480 and breaching the same might trigger fresh selling which is likely to test towards INR 12260. Meanwhile, failure to sustain below the same might see a technical bounce towards its immediate resistance towards INR 12810. Now OI are decreasing signaling some profit booking at higher levels and this situation may lead sharp fall in prices in coming trading session. The prices ended below the EMAs and thus indicating the possibility of further downtrend in prices. The 14 day RSI is in neutral zone sloping downward and Stochastic (9,3,3) also continued to trade in neutral zone with downward bias. Concisely prices are expected to trade sideways during coming couple of trading session

Major Resistance on upside at 12810-12942

Major Support on down side at 12480-12260

Trend Deciding Level at 12660

Sugar Prices opened near yesterday close at INR 2769 and slipped sharply but being unable to break the given support at INR 2745 surged marginally and ended the day with the formation of a un-filled candle signifies sideways trade in current trading session but weakness could be seen only below the break of the support at INR 2745. Prices are in a bearish phase and the same is likely to extend further. Any surge further might get resistance near its 50 day EMA where prices might get some resistance. On the downside INR 2745 to INR 2730 might act as strong support zone and may prevent prices to go sharply beyond the given level. MACD is trading in negative zone indicating weakness in near term. The 14 days RSI and Stochastic (9,3,3) is trading in neutral region which shall keep prices to trade steady in near term. Concisely prices may slip further and one may enter in short if prices gave some recovery.

Major Resistance on upside at 2805-2822

Major Support on down side at 2745-2730

Trend Deciding Level at 2775

Commodity Tips

Sell Cardamom Ncdex Jan near 685 sl 705 Tgt 660-640

Sell Jeera Ncdex Mar around 12810 sl 12942 Tgt 12640-12500

Sell Sugar Ncdex Jan near 2780 sl 2805 Tgt 2760-2735

Nifty Inching Up

Index Indices

Intraday Trading TIpsBse Sensex Major Resistance on Upside at 21196-21290-21384

Bse Sensex Major Support on Downside at 21017-20932-20838

Trend Deciding Level for Bse Index at 21111

Nifty Index Major Resistance on Upside at 6318-6351-6384

Nifty Index Major Support on Downside at 6249-6213-6180

Trend Deciding Level for Nifty Spot at 6282

Major Headlines

  • Andhra Bank allots 3 cr shares to government on preference basis at Rs 66.59 per share
  • Axis Bank replaces Jindal Steel on S&P BSE Sensex today
  • Wipro signs pact with Europe's telecom operator Tele2 AB
  • HCC receives EPC contract worth Rs 1,597 cr from THDC India
  • Gayatri Projects to dilute its stake in NCC Power Projects

Market Sentiment

  • The Nifty Index closed in the positive note on yesterday, were up by 10 points and closes at 6284. In excess of the next couple of days it is expected to trend is up till 6340. In this period the key support will be at 6231 and resistance will be at 6317.
  • In the daily chart the index is trading above the Twenty-Daily moving averages (DMA) and the Forty-DMA, ie 6205 and 6156 correspondingly. The momentum pointer is trading in negative mode.
  • In the hourly chart, the Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 6234 and 6231 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned positive. The market breadth was negative mode on yesterday with 783 advances and 391 declines on the National Stock Exchange.
  • Nse Nifty Fut Major Resistance on Upside at 6329-6354-6378
  • Nse Nifty Fut Major Support on Downside is at 6285-6266-6241
  • Trend Deciding Level for Nifty Fut at 6310
  • Nse Bank Nifty Fut Major Resistance on Upside at 11504-11602-11700
  • Nse Bank Nifty Fut Major Support on Downside at 11304-11202-11104
  • Trend Deciding Level for Bank Nifty Fut at 11402
  • 5 Daily Moving Average @ 6216
  • 50 Daily Moving Average @ 6166
  • 200 Daily Moving Average @ 5892
  • 5 Days Relative Strength Index @ 64 and 14 Days Relative Strength Index @ 57 INDICATES NIFTY PLACED IN TRADING ZONE, WITH BULLISH MOMENT.

Intraday Trading Tips

Buy Nifty Fut Nse Dec Above 6315 sl 6290 Tgt 6335-6360 {Or} Sell Nifty Fut Dec Nov Below 6285 sl 6310 Tgt 6265-6240

Buy Bank Nifty Fut Nse Dec Above 11450 sl 11400 Tgt 11500-11550 {Or} Sell Bank Nifty Fut Nse Dec Below 11350 sl 11400 Tgt 11300-11250

Haldi Halka Rahega Aaajj

TURMERIC:

Commodity TipsPrices opened flat and slipped sharply but being unable to sustain at lower levels and surged marginally during last hour of trade. Finally ended the day with the formation of bearish candle signifies weak trend in coming trading session. Volume declined significantly at higher levels indicating profit booking which may results into some decline in prices from its high. Any surge in prices for short term might face stiff support barrier towards its EMA zone and breaching the same might turn the sentiments negative. Prices still trading above 20 and 50 days of Moving average were indicating that overall positive trend is still intact in the market. MACD has remained in the positive zone supporting the bull trend. The 14 day RSI is trading neutral zone with upward bias and Stochastic (9,3,3) is also trading in a neutral zone along with upward. Concisely prices are expected to trade with high volatility and one may avoid aggressive trading

Major Resistance on Upside at 6586-6730

Major Support on Down Side at 6153-5980

Trend Deciding Level at: 6332

CARDAMOM

Prices opened slightly strong at INR 690 and slipped sharply but being unable to break the given support at INR 680 recovered marginally and ended the day with the formation of a bearish candle signifies sideways trade in current trading session but weakness could be seen only below the break of the support at INR 680.Volume declined during the session and thus the prices may enter in a zone of consolidation of may weaken. Any upside movement might face stiff resistance towards INR 722 and the same might keep the prices on defensive note. On the downside INR 680 to INR 665 might act as strong support zone and may prevent prices to go sharply beyond the given level. MACD is trading in negative zone indicating some weak trend in coming trading session. At the same time, it might find stiff resistance from its EMA zone. The 14 days RSI and Stochastic (9,3,3) starts weakening which shall keep prices to trade steady to weak. Concisely prices may slip further and one may enter in short if prices gave some recovery.

 Major Resistance on Upside at 722-735

Major Support on Down Side at 680-665

Trend Deciding Level at: 688.60

CHANNA:

NCDEX January Chana futures opened at Rs 3015/qtl, traded higher and found good resistance at Rs 3079/qtl. Later prices came under pressure slightly from higher levels on account of profit booking at weekend. Finally managed to close in green at Rs 3060/qtl with a gain of Rs 43/quintal or +1.43%. Prices managed to close above its 9 days of Exponential Moving Average (EMA), which indicates bullish tone.

The 12-day MACD (12, 26, 12) is in negative territory which indicates negative for prices. The 14 day RSI is at 47.15 is in neutral region, but heading towards southwards, shows bullish for prices.

Major Resistance on Upside at 3100-3130

Major Support on Down Side at 3015-2985

Trend Deciding Level at: 3060

JEERA:

Prices opened steady and slipped sharply during early trading session and continue to move down till mid day trading session. It marked the days low at INR 12760 but unable to sustain at lower levels and surged sharply after wards amid intraday short covering. Prices closed with the formation of un-filled candle with long lower and upper shadow indicating mild firmness during coming couple of trading session. Now OI are decreasing signaling some profit booking at higher levels and this situation may lead sharp fall in prices in coming trading session. On the downside INR 12740 and 12560 might act as strong support zone and may prevent prices to go sharply beyond the given level. The prices ended below the EMAs and thus indicating the possibility of further downtrend in prices. The 14 day RSI is in neutral zone sloping downward and Stochastic (9,3,3) also continued to trade in neutral zone with downward bias. Concisely prices are expected to show some profit booking in coming trading session.

Major Resistance on Upside at 13080-13230

Major Support on Down Side at 12740-12560

Trend Deciding Level at: 12902.50

SUGAR:

Prices opened steady and surged marginally during early trading session. However, prices fail to sustain at higher levels and witness marked decline till mid day trading session. It traded almost sideways during later part of the trading session. Finally closes with the formation of a filled candle Indicating weak trend in coming couple of trading sessions. Volume declined during the session and thus the prices may enter in a zone of consolidation of may weaken. On the downside INR 2745 and 2730 might act as strong support zone and may prevent prices to go sharply beyond the given level. MACD is trading in negative territory showing some down trend in coming trading session. The 14 days RSI and Stochastic (9,3,3) starts decreasing which shall keep prices to trade steady to weak. Concisely prices are expected to show some profit booking in coming trading session which may lead prices to go down.

Major Resistance on Upside at 2805-2822

Major Support on Down Side at 2745-2730

Trend Deciding Level at: 2768

Commodity Tips

Sell Sugar Ncdex Jan around 2780 sl 2805 Tgt 2760-2735

Sell Cardamom Ncdex around 705 sl 722 Tgt 685-670

Buy Channa Ncdex Jan at 3015-3025 sl 2982 Tgt 3100-3125

Sell Jeera Ncdex Jan around 12950 sl 13080 Tgt 12800-12760

Info Edge (India) Limited Multibagger

Company Review:

Mutual Fund InvestmentsInfo Edge India Limited drive diversified online businesses, first and foremost an online job posting website Naukri.com, which offers services for recruiters, job seekers, and employers. Info Edge India Limited also operates an online matrimonial website Jeevansathi.com for prospective brides, grooms, and relatives, a real-estate portal website 99acres.com and an education portal website Shiksha.com. The Company also has possession of allcheckdeals.com an online real estate brokerage dense, which is run as a subsidiary company. Spaced out from this, Info Edge has made significant strategic investments into emerging internet companies like meritnation.com, policybazaar.com, mydala.com, Canvera.com and zomato.com. Info Edge India Limited having its headquarters in Noida (NCR), Info Edge employs over 2,700 people and operates through 48 offices in 31 cities across India and overseas.

Company Financial View:

For Q2FY14, the company revenue of Rs 123Crs (up 15.5% YoY) led by continued momentum in Non-recruitment businesses (up 45% YoY) at the same time as recruitment revenue growth was eight percent YoY supported by IT segment recruitment and certain market share gains. EBITDA at Rs 43.6Crs increased 18.3% QoQ and EBITDA Margin at 35.5% expanded by robust 494bps QoQ (+195bps YoY) led by lower S&M Investments and better realizations.  PAT at Rs33.3Crs was up 13.1 percent QoQ led by improvement in profitability of Non-recruitment business (Jeevansaathi, 99acres) with combined losses coming down to Rs2.2Crs against Rs9Crs in Q1FY14.

Staffing revenue at Rs.90.3Crs (up 8 percent YoY) was the highest in the past three quarters with stable recruitment business margin at 50.7 percent (against 50.3% in Q1FY14 & 50% in Q2FY13). Non recruitment revenue at Rs.33.3Crs (up 45% YoY) was highest in the past 9 quarters chiefly driven by strong growth in paid listings at 99 Acres.com (Revenue up by 57% YoY) and price hikes in Jeevansaathi.com

Company Assessments:

At the CMP of Rs 470 the stock trades at P/E of 54.7xFY13, 33.5xFY14E and 26.4xFY15E with the EPS of 8.4, 13.7 & 17.4 respectively. EPS growth rate of 63 percent for FY14E & 28 percent for FY15E compare very well despite the high P/E. Going forward, the valuations will get rationalized and considering Company's diversified online business, momentum in Non recruitment business and strategic investments in the growing internet space, Info Edge (India) Limited is trading at Rs. 470, recommended to buy near Rs. 470-450 levels for investment horizon; it may touch Rs. 550 in a time period of 3-9 months.

Bse Id: 532777

Nse Id: Naukri

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