Nifty Northward Journey Continues and Intraday Trading Tips

Intraday Trading TipsIndian Intraday Trading shares rose for the second consecutive session on Monday, led by metals and mining firms such as Tata Steel on expectations the government would pass executive orders to ease land acquisition rules and auction minerals such as iron ore. The Bombay Stock Exchange Sensex closes at 27396 were nick up by 154 points or blow up by 0.57 percent. Nse Nifty Closes at 8247 were healing up by 46 points or plant slide up by 0.56 percent. The BSE Mid-cap index gained 0.4 Percent and Small-cap index ended up flat with positive bias in today intraday trading.

Sensex Major Resistance on Upside at 27528-27660-27792

Sensex Major Support on Downside at 27238-27080-26948

Trend Deciding Level at 27370

Nifty Index Major Resistance on Upside at 8295-8343-8290

Nifty Index Major Support on Downside at 8181-8115-8067

Trend Deciding Level at 8229

Major Headlines

Career Point gains 11 percent on signing MOU with Government of Rajasthan

Gujarat Pipavav Port soared 10 percent to Rs199, also is witness high on NSE

Aban Offshore surged 15 percent to Rs 479 on NSE

Nifty Indices

The Nifty continues to inch higher after the late recovery seen in the last Friday’s session. This up move was anticipated by us as we had assumed that wave C up was pending across indices. Now, the swing low of 8147 becomes an important support for the short-term traders and till that is held the overall bias shall remain up. The minimum equality target comes to 8455, ie the upper end of the rising channel, whereas the 78.6% retracement level comes to 8580. The Bank Nifty seems to be extending its wave five move. The daily momentum is back in buy mode which is a positive sign for bulls going forward.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8314 and 8267 respectively. The thrust indicator is trading in positive sort on the daily chart

In the hourly chart, Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 8221 and 8231 correspondingly, which are crucial in the immediate run. The hourly impetus indicator encompass turned positive.

The market duration was turned negative with 936 advances and 574 declines, Unchanged 69 Total Issue 1579 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8354-8392-8429

Nifty Future Major Support on Downside is at 8282-8248-8210

Trend Deciding Level at 8320

Bank Nifty Major Resistance on Upside at 18805-18940-19074

Bank Nifty Major Support on Downside at 18601-18532-18397

Trend Deciding Level is at 18736

30 Days Simple Moving Averages @ 8366

50 Days Simple Moving Averages @ 8272

150 Days Moving Averages @ 7909

200 Days Simple Moving Averages @ 7602

5 Days Rsi at 53 and 14 Days Rsi at 47 Indicates Nifty Place in Trading Zone, with Bullish Moment.

Intraday Trading Tips

Buy Nifty Jan Intraday Fut above 8335 sl 8310 Tgt 8355-8375 {Or} Sell 8285 sl 8310 Tgt 8265-8240

Buy Bank Nifty Jan Intraday Fut above 18715 sl 18665 Tgt 18765-18815 {Or} Sell Below 18615 sl 18665 Tgt 18565-18515

Curious Fact

Charles Babbage was a British mathematician, who is often called ‘The father of computing’. He designed the first computer, a machine he called’ the difference engine’ in 1822. This was indeed a milestone in human history

Employment Numbers and Commodity Advisory Services

Commodity Advisory ServicesTwo primary assets were down in the week by see review by Commodity Advisory Services half and one and half per cent consecutively; they are both USD index and the gold, an unconventional state which is seldom noticed in the financial markets. We perceive this as a sort of risk off scenario wherein other FX markets were mixed; euro moved higher, the Japanese Yen continued its own bearish path.

From the fundamental aspects of gold we do not see any interest in demand coming in which definitely is likely to keep the gold prices lower. However, we had seen some sort of price recovery earlier weeks but the principal outlook still holds down.

From the investment front, the gold holdings at the SPDR gold trust are just maintaining its south journey and as of 26th November the total holdings were mere 718 tons. We believe as long as the investment demand is not popping up we would not see any positive sense in the prices. So, we continue to sell the precious metal for the next week.

Besides, it’s imperative to talk about gold and USD relationship especially when we have key economic numbers from the country next week. Generally, it is observed that during non-farm payroll numbers are out in the US along with unemployment rate we see a huge volatility in the gold asset. Certainly, we are likely to see the same in the next week too. However, the only concern that we have is the week gone by data released from the US have been either mixed or little disappointing so if the same scenario holds then possibly the unemployment rate may stay at the same state at 5.80% with a little retreat in the employment. However, we do not see at least in the next week to have significant positive impact on the gold prices as the inherent scenario still holds down. With this we still continue to hold our bearish bet on gold in the next week.

Another scenario that we are able to perceive is the global equities are relentlessly trading higher so most of the investors’ money is being parked in the equity market. Hence, the interest in trading the precious metal is slowly fading which may keep the commodity gold prices lower.

Lastly, as discussed above about the misalignment relationship between gold and USD, we would like to reiterate again that though USD index has declined a tad but the US equities have again outperformed. This implies us the fact that it’s the FX play that is being played between the major currencies- USD, GBP, Euro and JPY. So as long as the mixed performance in the currency takes place we shall continue to hold the view that both gold and USD could take a unilateral move.

Overall, we hold a bearish outlook on gold globally while locally we see that more selling could be noticed in gold prices due to slight appreciation in the Indian rupee pertaining to likely weakness in the USD.

Note: Volatility may be higher as we have monthly Employment numbers from the US whereas locally the RBI Monetary policy meeting would be watched. Traders note that increase in monthly Gold/Silver imports in India have raised speculation that GoI and RBI might take some action against limiting Imports. Rumors going around the corner about probable change in the so called 80:20 rule and also import duty could create some mercurial movements in the markets. We believe, if Imports continue to rise in coming months, there is a chance for fresh tightening however don’t expect any major changes in policy in very short-term

Gold Feb MCX futures prices witnessed downfall in the last week. As of 28 November, 2014 prices are trading at 26402, down by -1.35 from the previous week close. Prices are expected to trade downside and we suggest selling at higher levels

Gold Commodity Trading Weekly Trend: Down

Major Support on down side at 25700-25350

Major Resistance on Upper side at 26550-26960

As the yellow metal slid, Silver was not far behind wherein the high beat nature of the commodity pushed it even lower. As per last quote on Friday evening IST, Silver Comex for active March expiry was lower by around 2.5% to $16 per ounce while Indian MCX Silver for same month’s settlement too shut shop lower by 1.6% down to Rs 36435 per Kg during the week.

Moderate depreciation in INR and local adjustment with respect to spot rates as Dec contract was expiring could be possible reasons for the outperformance of silver commodity locally as against the movement in Comex. Amongst major cues during the last week, the so called OPEC meeting wherein group left the production quote unchanged to 30 MBPD pushed global oil prices sharply lower with slump in major international benchmarks seen to the tune of 10% in a single week and indirectly hurt investment demand for Bullion. Lower persistent oil prices make a case for subdued inflationary scenario and act against investment pattern for Bullion. In the current week, once again we saw EU YoY CPI number staying subdued and putting negative case for Bullion. Also, Silver which takes cues from both Precious and Industrial metal cues probably lost at a higher rate as LMEX Index slipped more than 2% this week with the worst performer amongst base metals was Copper. In the coming week too, we have PMI numbers to be released wherein Chinese and EU numbers would be closely watched as preliminary numbers for the region were disappointing. Extended weakness over there is likely to add more pressure on the whitish metal. Cumulating the factors affecting Gold and industrial metals, we continue to hold negative bias in the commodity in the coming week and advice trader build short positions on small pullback.

Note: Volatility may be higher as we have monthly Employment numbers from the US whereas locally the RBI Monetary policy meeting would be watched. Traders note that increase in monthly Gold/Silver imports in India have raised speculation that GoI and RBI might take some action against limiting Imports. Rumors going around the corner about probable change in the so called 80:20 rule and also import duty could create some mercurial movement in the markets. We believe, if Imports continue to rise in coming months, there is a chance for fresh tightening however don’t expect any major changes in policy in very short-term

Silver March MCX futures prices traded downside in the last week. As of 28 November, 2014 prices are trading at 36130, down by -2.4% from the previous week close. Prices are expected to continue the same trend for the week ahead. For short term traders we suggest selling at higher levels

Silver Commodity Trading Weekly Trend: Down

Major Support on down side at 34400-33600

Major Resistance on Upper side at 36100-36900

Weekly Tips by Commodity Advisory Services

Sell Gold Mcx Feb on rise at 26500 sl 26750 Tgt 26200-25750

Sell Silver Mcx Mar on rise near 36450 sl 37200 Tgt 35400-34800

Nifty Volatility takes its toll on traders and Intraday Share Tips

Intraday Share TipsIndian Intraday shares edged up on today trade, gaining for a fourth session in five, led by blue chips on unrelenting hopes the central bank would ease monetary policy to boost economic growth. The Bombay Stock Exchange Sensex closes at 28387 were nick up by 49 points or blow up by 0.17 percent. Nse Nifty Closes at 8476 were healing up by 13 points or plant slide up by 0.15 percent. The BSE Mid-cap index gained 0.6 Percent and Small-cap index ended up 1.1 Percent in today intraday trading.

Sensex Major Resistance on Upside at 28483-28579-28674

Sensex Major Support on Downside at 28278-28169-28073

Trend Deciding Level at 28374

Nifty Index Major Resistance on Upside at 8508-8539-8570

Nifty Index Major Support on Downside at 8438-8399-8368

Trend Deciding Level at 8469

Major Headlines

Aurobindo Pharma board approves fund raising of USD 350 m via issue of securities

Tata Coffee board approves stock split in ratio of 1:10

Appellate Tribunal upholds MERC order allowing Rel Infra to recover charges

Valecha Engg bags order worth Rs 158 cr

UltraTech Cement said to seek around USD 1.2 billion loan for acquisition

Nifty Indices

The Nifty closes on positive note were up by 13 points at 8476. Over the next couple of trading sessions, we expect the index to resume its positive momentum. A key support will be near 8353 and resistance will be at 8535.

The Nifty saw a volatile trading session today ahead of the expiry of the November series. Throughout the day it traded in a volatile manner facing resistance at the upper end, ie 8500, while on the downside it took support around the 40-hour exponential moving average at around 8450. The BSE Mid-cap Index and the BSE Small-cap Index closed with gains today as most of the day’s action was visible in the mid-cap and small-cap stocks. On the Nifty, crucial Fibonacci supports are placed at 8422 and 8392, which are 61.8% and 78.6% retracement levels respectively of the rise that Nifty has seen from 8353 to 8535. The Nifty should ideally not breach this level for the positive momentum to continue. The facts that the Nifty is trading above its crucial supports and positive momentum is visible in the broader market make us believe that the uptrend in the Nifty is still intact. Hence, we maintain our positive stance on the Nifty for targets of 8600.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8351 and 8210 respectively. The thrust indicator is trading in negative sort on the daily chart

In the hourly chart, the momentum indicator has turned negative and is trading below the zero line, the Nse Nifty is trading between the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 8480 and 8452 correspondingly, which are crucial in the immediate run. The hourly impetus indicator encompass turned positive.

The market duration was turned negative with 919 advances and 568 declines, Unchanged 75 Total Issue 1562 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8513-8549-8584

Nifty Future Major Support on Downside is at 8443-8409-8373

Trend Deciding Level at 8479

Bank Nifty Major Resistance on Upside at 18122-18263-18404

Bank Nifty Major Support on Downside at 17873-17765-17624

Trend Deciding Level is at 18014

30 Days Simple Moving Averages @ 8200

50 Days Simple Moving Averages @ 8124

150 Days Moving Averages @ 7688

200 Days Simple Moving Averages @ 7356

5 Days Rsi at 64 and 14 Days Rsi at 68 Indicates Nifty Place in Extreme Bullish Zone, with Bearish Moment.

Intraday Share Tips

Buy Nifty Nov Intraday Fut above 8490 sl 8465 Tgt 8510-8535 {Or} Sell 8440 s; 8465 Tgt 8420-8395

Buy Bank Nifty Nov Intraday Fut above 18025 sl 17975 Tgt 18075-18125 {Or} Sell Below 17925 sl 17975 Tgt 17875-17825

Curious Fact

Some of the outdated Bills which need to be scrapped in current Winter Session of Parliament – the Treasure Trove Act of 1878 which requires anyone who finds treasure worth more than ten rupees to inform the tax collector; the Post Office Act of 1898 which states that only the government has the right of “conveying by post, from one place to another” most letters and the Police Act of 1861 which lays down that all police officers are supposed to remove their caps in the presence of royalty..

Nifty Bounced Again and Intraday Stock Market Trading Tips

Intraday Stock Market Trading TipsIndian Intraday Stock Market Trading shares edged up on today as exporters such as Infosys rallied after the rupee fell to a 9 months low, although the weaker local currency hit further blue-chips such as Tata Motors by tempering hopes of interest rate cuts. The Bombay Stock Exchange Sensex closes at 28068 were nick up by 35 points or blow up by 0.12 percent. Nse Nifty Closes at 8402 were healing up by 20 points or plant slide up by 0.23 percent. The BSE Mid-cap and Small-cap ended marginally negative in today intraday trading.

Sensex Major Resistance on Upside at 28151-28233-28315

Sensex Major Support on Downside at 27953-27837-27755

Trend Deciding Level at 28035

Nifty Index Major Resistance on Upside at 8424-8446-8468

Nifty Index Major Support on Downside at 8367-8332-8310

Trend Deciding Level at 8389

Major Headlines

Cipla in distribution agreement with serum institute

ITD Cementation whoosh up by 10% on stake buy

Bafna Pharma rise up by 8% on rating upgrade

Nifty Indices

The Nifty was quite volatile in today’s trading session as it opened higher, then sold off and in the final hour of trading session bounced back well into the positive territory. This bounce from the lower end of the rising channel was. This has led to the formation of a hammer candlestick pattern on the daily chart. It is a bullish U-turn pattern and its swing low turns into a crucial support level, which is 8353 in this case. The Nifty seems to have completed wave IV and wave V seems to have started which will take it to our short-term target of 8500. The Bank Nifty too was expected to bounce in wave E of its rising wedge pattern. So, until there is any evidence of a trend reversal, just ride the trend.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8250 and 8149 respectively. The thrust indicator is trading in positive sort on the daily chart

In the hourly chart, the Nse Nifty is trading between the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 8405 and 8386 correspondingly, which are crucial intraday level. The hourly impetus indicator encompass turned positive.

The market duration was turned negative with 557 advances and 958 declines, Unchanged 65 Total Issue 1580 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8445-8466-8487

Nifty Future Major Support on Downside is at 8387-8350-8329

Trend Deciding Level at 8408

Bank Nifty Major Resistance on Upside at 17746-17805-17864

Bank Nifty Major Support on Downside at 17597-17507-17448

Trend Deciding Level is at 17656

30 Days Simple Moving Averages @ 8122

50 Days Simple Moving Averages @ 8095

150 Days Moving Averages @ 7642

200 Days Simple Moving Averages @ 7311

5 Days Rsi at 64 and 14 Days Rsi at 68 Indicates Nifty Place in Extreme Bullish Zone, with Bearish Moment.

Intraday Stock Market Trading Tips

Buy Nifty Nov Intraday Fut above 8445 sl 8422 Tgt 8465-8490 {Or} Sell below 8400 sl 8422 Tgt 8380-8355

Buy Bank Nifty Nov Intraday Fut above 17740 sl 17690 Tgt 17790-17840 {Or} Sell Below 17640 sl 17690 Tgt 17590-17540

Curious Fact

In 1938, a huge supply of crude oil was discovered in the newly created country of Saudi Arabia. This made Saudi Arabia a politically important and wealthy country.

OPEC Meeting Outcome and Commodity Trading Tips

Commodity Trading TipsCrude Commodity Trading prices traded in a ranged manner with modest negative bias for larger part of the week while we expected some bit of weakness to seep in especially on Wednesday when the EIA was supposed to publish its STEO report which was coincide with the so called Monthly Oil Market Report from the OPEC. Markets saw weakness building as the agency accounting for extended pressure over global oil supply and weakening outlook for global economy mainly the OECD group’s future oil demand potential drastically reduced its forecast for Brent and WTI in 2015. While huge cut in prices over short-term though instilled the expectations that some weakness over future price potential was coming, still we saw decent fall in prices that day. The agency added fears about extended supply pressure from US which already is hurting international demand amidst lower imports during past many quarters should continue. The EIA said, US crude oil production averaged around 8.9 MBPD in October and should move above 9.0 MBPD by December. It added the same is likely to be 9.4 MBPD in 2015 its highest annual average since in over 4 decades.

Coming to crude oil price performance, markets severely got butchered on Thursday as speculation increased that OPEC would most likely maintain status quo on its oil supply position, notwithstanding the huge cut in prices in last couple of months which have also pushed both the WTI and Brent into bear market. Brent oil fell by around 4.5% in a single session to $77 per barrel whereas WTI slipped near 4% to $74 per barrel. Major traders and investors are getting ready for a case wherein no proper agreement would be reached amongst OPEC members with some of them already taking steps to main market share even at a cost of decline in prices lately. The OPEC has its meeting on 27th Nov and most likely that volatility should continue to be high in the commodity till that time.

If we look at markets variable for the commodity, on one side we saw prices falling heavily we also had the weekly inventory report from the US which actually could be treated as mixed to marginally positive. As per the weekly report from DoE, crude stocks during week ended 7th Nov fell by 1.74 million barrels against markets forecasts of a rise in the range of 1 million barrels. Amongst negative cues, crude stocks at Cushing jumped 1.7 million barrels which could be a result of overall higher supplies in the country. US oil production enhancing to 9 MBPD, it fresh high in over 2 decades last week the report added.

Looking at the consumption side variables gasoline stocks unexpectedly gained at a huge rate with additions seen by 1.81 though positively distillates stockpiles tumbled 2.8 million barrels as probably storage increase ahead of the winter season.

On a further positive side, US refineries increased operation towards 90.1%, up from 88.4% in the previous week and thus supporting the overall churning of oil ahead of the probable increase in demand in winter season. Support from inventory side also comes from the fact that total cumulative stocks for particularly Distillate are standing at their multi-month lows and as winter season nears demand for distillate and other related product could lead support to the WTI which already trades at its lowest point in over 4 years.

If we look the internal cues with regards to price, developments over Contango/Backwardation still call for a subdued demand trend for oil in near term. As said last week too, WTI active calendar spread for two most active contracts stand at a backwardation of just around 5-10 cents with last two weeks closing standing at just 6 cents, its lowest since Jan 2014. For the Brent the situation is even worse as the commodity has continue to stay in Contango since July this year with latest reading over there standing near 60-65 cents

While broader cues still call for continued set of weakness in the commodity, we believe market volatility should increase in the coming week as we have two major events to track. WTI Expiry of December contract which may infuse shift of positions from one contract to another whereas FED Monetary policy minutes are due. While we still hold a sell bias in the commodity, shorts should be taken on pullbacks with weekly RSI standing around 7-10 mark and probably due for a small rebound in coming sessions.

Major risk against our forecasts: Expectations over OPEC meeting outcome

Crude Oil Commodity weekly Trend: Down

Support on downside at 4850-4780

Resistance on upside at 4850-4780

Commodity Trading Tips

Sell Crude Oil Mcx Dec on Rise near 4770 sl 4950 Tgt 4590-4500

Nifty Week a Head of Weekly Close and Futures Trading Tips

Futures Trading TipsIndian Futures Trading shares floor on Thursday, receding from a record high hit in the previous session as state-run oil companies such as Bpcl declined after the government raised factory gate taxes on petrol and diesel. The Bombay Stock Exchange Sensex closes at 27941 were nick down by 69 points or pump low by 0.24 percent. Nse Nifty Closes at 8358 were rupture down by 26 points or plant slide down by 0.30 percent. The BSE Mid-cap and Small-cap indices were up 0.2-0.3 percent each in today intraday trading.

Sensex Major Resistance on Upside at 28003-28224-28365

Sensex Major Support on Downside at 27814-27686-27545

Trend Deciding Level at 27955

Nifty Index Major Resistance on Upside at 8407-8455-8503

Nifty Index Major Support on Downside at 8316-8273-8225

Trend Deciding Level at 8364

Major Headlines

Supreme Court to continue hearing IGL Vs PNGRB case today

UP Govt keeps sugarcane price unchanged

Tara Jewels to borrow funds by way of issue of NCD through QIP

Nifty Indices

The Nifty has reversed after forming a shooting star candlestick pattern in yesterday’s trading session. We had anticipated this in yesterday’s as well as today’s High Noon report. In today’s report we had suggested that cracks are developing in the market and that is exactly what is happening. However, the Nifty is still holding on to its low of 8290 and till that level is held, there will be less evidence that the index has reversed the trend. Now the trading range for the Nifty is 8290-8448 levels. So a break-out from this range will provide further clarification. The Bank Nifty too seems to have completed its wave V up with a daily negative close in today’s trading session; however, a confirmation will be only below the swing low of wave IV, ie 17293. So, traders on the long side are advised to remain cautious.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8107 and 8076 respectively. The thrust indicator is trading in positive sort on the daily chart

In the hourly chart, the Nse Nifty is trading between the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 8369 and 8337 correspondingly, which are crucial intraday level. The hourly impetus indicator encompass turned negative.

The market duration was turned negative with 581 advances and 949 declines, Unchanged 55 Total Issue 1585 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8427-8469-8511

Nifty Future Major Support on Downside is at 8347-8309-8267

Trend Deciding Level at 8389

Bank Nifty Major Resistance on Upside at 17679-17842-18005

Bank Nifty Major Support on Downside at 17409-17302-17139

Trend Deciding Level is at 17572

30 Days Simple Moving Averages @ 8047

50 Days Simple Moving Averages @ 8052

150 Days Moving Averages @ 7586

200 Days Simple Moving Averages @ 7228

5 Days Rsi at 76 and 14 Days Rsi at 70 Indicates Nifty Place in Extreme Bullish Zone, with Bullish Moment.

Futures Trading Tips

Buy Nifty Nov Intraday Fut above 8400 sl 8375 Tgt 8420-8445 {Or} Sell below 8350 sl 8375 Tgt 8330-8305

Buy Bank Nifty Nov Intraday Fut above 17560 sl 17510 Tgt 17610-17660 {Or} Sell Below 17460 sl 17510 Tgt 17410-17360

Curious Fact

With over 1.6 lakh post offices throughout the country with the lion's share of 1.4 lakh in rural areas, India Post claims to have the largest postal network in the world, according to its website. On an average, a post office serves an area of 21.2 sq km and a population of 7,175 people.

Nifty Shooting Star and Best Intraday Tips

Best Intraday TIps ProviderIndian Best Intraday Stock Market shares gained for a second successive session to their highest closing level in last five weeks, tracking a bond in global markets on likely the U.S. Federal Reserve would time away before raising interest rates. The Bombay Stock Exchange Sensex closes at 28009 were stumbling up by 99 points or blink high by 0.35 percent. Nse Nifty Closes at 8384 were healed up by 21 points or root slide up by 0.25 percent. The BSE Mid-cap and Small-cap indices gained between 0.2-0.5 Percent each in today intraday trading.

Sensex Major Resistance on Upside at 28123-28237-28350

Sensex Major Support on Downside at 27898-27787-27673

Trend Deciding Level at 28012

Nifty Index Major Resistance on Upside at 8424-8464-8504

Nifty Index Major Support on Downside at 8335-8286-8246

Trend Deciding Level at 8375

Major Headlines

Aurobindo Pharma says Co's US arm emerges as highest bidder to acquire Natrol

Amara Raja board approves investment of Rs 500 cr to set up tubular batteries mfg plant

Special Court orders probe in coal blocks case w.r.t Nava Bharat Power

Cognizant has acquired Australian digital solutions company, Odecee

Nifty Indices

The Nifty has broken out from the consolidation pattern, as was expected. But it has reversed from 8400 levels. It has given away half of its gains, thereby forming a shooting star candlestick pattern. Now, such a candlestick pattern before some crucial data indicates nervousness among the market participants. However, since the Nifty is trading above its crucial swing low of wave IV, the short-term trend remains up. So, based on these observations we maintain our short-term bias up for a target of 8500 till the 8290 level is held. The Bank Nifty too has broken out from the triangle in wave v up. So, not much upside is left in both the indices, as these are trading in wave v up. However, till these don’t reverse, the short-term momentum shall remain up but traders are advised against being aggressively long.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8081 and 8062 respectively. The thrust indicator is trading in positive sort on the daily chart

In the hourly chart, the Nse Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 8359 and 8325 correspondingly, which are crucial intraday level. The hourly impetus indicator encompass turned negative.

The market duration was turned negative with 766 advances and 767 declines, Unchanged 54 Total Issue 1587 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8440-8467-8494

Nifty Future Major Support on Downside is at 8394-8375-8348

Trend Deciding Level at 8421

Bank Nifty Major Resistance on Upside at 17760-17844-17928

Bank Nifty Major Support on Downside at 17560-17444-17360

Trend Deciding Level is at 17644

30 Days Simple Moving Averages @ 8036

50 Days Simple Moving Averages @ 8043

150 Days Moving Averages @ 7574

200 Days Simple Moving Averages @ 7248

Best Intraday Tips

Buy Nifty Nov Intraday Fut above 8425 sl 8400 Tgt 8445-8470 {Or} Sell below 8375 sl 8400 Tgt 8355-8330

Buy Bank Nifty Nov Intraday Fut above 17750 sl 17700 Tgt 17800-17850 {Or} Sell Below 17600 sl 17650 Tgt 17550-17500

Curious Fact

Amrutanjan Healthcare is a 121 years old company. It was established in 1893 in Bombay. Its promoter, Kasinathuni Nageswara Rao popularized the balm by distributing it free-of-cost at mu

Reasons Why Gold Seeing Downhill View of Commodity Advisory Services

Commodity Adviosry ServicesGold Mcx Commodity Advisory view fell that precious market fell over 5% in the last week of October while it is down in the whole month by 3.30%.  We however believe the trend to remain integral

Key reasons for declining gold prices:

1) Robust economic data from the US especially the improved GDP and rising USD index helped gold commodity to trade down

2) Federal Reserve in the US earlier in the week ended bond buying programme

3) Losses overstated after the Bank of Japan announced stimulus programme and the ECB may soon do the same

4) Technical levels break down below $1180 was another trigger for gold to trade down

5) Investment demand continuously falling and the SPDR Gold holdings have come down below 745 tons

6) The lower global inflation especially in the euro-zone are pulling the safe haven assets lower so gold is also trading down

7) China sent investigators to probe a seven-fold surge in September’s Bullion exports, raising apprehension that insists in the world’s largest purchaser may turn down. India is the second biggest user; imports are set to plummet in October after a more than four-fold jump last month.

8) Premiums on the Shanghai Gold Exchange – the main platform for physical trades in the country slipped to less an a $1an ounce, infrequently dropping to a discount against the global benchmarked rate

The view in the next week:

We are not seeing any turnaround in the prices soon in the near future meaning the trend would continue to remain bearish.

The investment demand is also not likely to make a spin off over the weekend so possibly the demand on gold may stay fragile in the short term. Also, the other global factors are likely to keep the metal lower, the ECB meeting scheduled in the next week would be crucial to watch out. Although in the meeting the announcement of economic stimulus may be declared or some sort of other announcements could be made which may possibly pull euro currency lower against its major counter parts by which gold may also remain down. Besides, the Effect of JPY weakening against the USD is likely to prolong for few days in the next week which may have its adverse impact on the gold bullion prices. We could have had suggested some sort of value buying in gold if the physical demand had been better in the recent past. Regrettably physical demand from Asia is very negligible so possibly unlikely that the demand for gold would abruptly prop up in the next week. Also, every investor globally would have understood the gold’s price behavior and factors affecting the trend. Hence, we are not seeing any fresh buying in gold until before it hit $1150 marks in the global market while locally Rs. 26,500 is likely in the near term. So, overall we hold a bearish outlook on Gold in the next week. The risk to our sell view would be by any means if USD makes a little price correction then gold prices might rebound however, those levels would b ideal to make fresh short positions in the market. For physical buyer we may suggest to wait for some more time or a deferred approach should be developed in buying the precious metal

Gold Dec MCX futures prices traded downside in the last week. As of 31 October, 2014 prices are trading at 26135, down by -4.5% from the prior week close. In the seven days chart prices have breached the support at 26471 and hovering below the same signals further downside potential. For short term traders we suggest selling at higher levels

Gold Weekly Commodity Advisory Outlook:

Trend: Down

Major Resistance on Upside at 26550-2700

Major Support on Downside at 25600-25200

Silver Mcx Commodity Advisory story is simple as in the case with gold. Better than expected US GDP number for Q3 and Fed’s stance over the completion of the so called monthly Bond buying program is hurting the Bullion complex. On top of that, equities were flying high during the week and added more gains on Friday as addition of stimulus from the Bank of Japan came as a shot in the arm for global markets. Overall the risk-on sentiment is playing so traders refrain from safe havens like Bullion. As per the whole week is concerned, the US Dollar was a major gainer with the currency appreciating against almost all major pairs following the aforementioned cues from FOMC and better US data. The USDX during the week gained around 1.5% to 87 marks. If we check the major cues in the coming week, we have the ECB Monetary policy meeting and also the US Non-Farm payrolls data released. Nonfarm Payrolls for October are seen rising by 230K as against last month’s addition by 248K which is surely seen as a further positive figure. Though MoM perspective shows modest fall in fresh additions; overall the year 2014 has managed monthly Jobs additions average over 225K which is its best mean addition in many years and alongside falling unemployment rate, continue to project positive aspect about the world’s largest economy. As per as silver is concerned, we believe we witnessed a curious case this week as silver which is a mix of precious and industrial metals should have had got some support from the base metals complex which gained at a good rate. Notwithstanding the movement in other commodities, silver reflecting its higher beta slipped along with gold wherein the Gold/Silver Ratio too moved towards fresh 2014 highs of 73 as per the Spot $/Ounce rates. Overall the commodity is expected to continue follow the broader trend in the complex and we recommend selling the same on pullbacks next week. In any case the whitish metal after sliding around 8% this week should see some positive correction before fresh shorts could be initiated

Silver December Mcx future prices fell sharply in the last week by continuing the previous trend. As of 31 October, 2014 prices are trading at 35797, down by -6.5% from the previous week close. Initially we expect higher correction before resuming its downhill. For short term traders we recommend selling at higher levels

Silver Weekly Commodity Advisory Outlook:

Trend: Down

Major Resistance on Upside at 36500-37400

Major Support on Downside at 34600-33400

Commodity Advisory Services Weekly Tips

Sell Gold Mcx Dec on rise near 26240 sl 26550 Tgt 25940-25600

Sell Silver Mcx Dec on rise near 36200 sl 36900 Tgt 35500-35000

Nifty Hits Six and Stock Market Tips

Stock Market TipsIndian Stock Market shares gained for a second successive session to their highest closing level in last 5 weeks, tracking a unite in global markets on likely the U.S. Federal Reserve would time away before raising interest rates. The Bombay Stock Exchange Sensex closes at 27866 were stumbling up by 520 points or blink high by 1.90 percent. Nse Nifty Closes at 8323 were healed up by 153 points or root slide up by 1.87 percent. The BSE Midcap index ended 1.2 percent higher and the BSE Smallcap index edged higher by 1 percent each in Friday intraday trading.

Sensex Major Resistance on Upside at 28057-28248-28439

Sensex Major Support on Downside at 27511-27156-26965

Trend Deciding Level at 27702

Nifty Index Major Resistance on Upside at 8372-8421-8470

Nifty Index Major Support on Downside at 8233-8143-8094

Trend Deciding Level at 8282

Major Headlines

Gail (India) Second Quarter net profit up 42%

IDBI Bank Second Quarter net profit falls 40%

ITC Second Quarter net profit at Rs 2525 crore

M&M Second Quarter has posted a net profit at Rs 989.50 crore

Nifty Indices

The Nifty skyrocketed and managed to close above 8300, indicating immense strength. It has closed in the positive territory for the sixth consecutive month, thereby hitting a sixer. The waves are just extending on the higher side and this shows how strong the momentum is. On the lower side, the immediate support exists at 8181 whereas the target of 8500 remains intact. The volumes have recovered drastically in the past two trading sessions and are expected to increase from here on. Now apart from banks all sectors have started to perform which makes this rally a broad-based rally. Many stocks are yet to complete their fifth wave on the higher side and that further confirms the upside potential of the Nifty from here on. So, based on these observations we maintain our bias for both the short term and the medium term up.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 7953 and 7961 respectively. The thrust indicator is trading in positive sort on the daily chart

In the hourly chart, the Nse Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 8169 and 8111 correspondingly, which are crucial intraday level. The hourly impetus indicator encompass turned positive.

The market duration was turned positive with 1000 advances and 519 declines, Unchanged 69 Total Issue 1588 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8402-8448-8493

Nifty Future Major Support on Downside is at 8268-8180-8134

Trend Deciding Level at 8314

Bank Nifty Major Resistance on Upside at 17273-17401-17529

Bank Nifty Major Support on Downside at 16931-16717-16589

Trend Deciding Level is at 17059

30 Days Simple Moving Averages @ 7978

50 Days Simple Moving Averages @ 7986

150 Days Moving Averages @ 7502

200 Days Simple Moving Averages @ 7184

Stock Market Tips

Buy Nifty Nov Intraday Fut above 8380 sl 8355 Tgt 8400-8425 {Or} Sell below 8310 sl 8335 Tgt 8290-8265

Buy Bank Nifty Nov Intraday Fut above 17200 sl 17150 Tgt 17250-17300 {Or} Sell Below 17080 sl 17130 Tgt 17030-16980

Weekly Calls

Buy Centuryply above 140.50 sl 131 Tgt 150-170

Buy Jblind above 147 sl 132 Tgt 161-178

Curious Fact

Marie and Pierre Curie discovered one more element other than radium from Pitchblende. The element was Polonium

Nifty Eyeing a New Crest and Intraday Tips

Intraday TipsIndian Intraday Stock Market shares gained for a second consecutive sitting to their highest closing level in last five weeks, tracking a unite in global markets on potential the U.S. Federal Reserve would hiatus before raising interest rates. The Bombay Stock Exchange Sensex closes at 27099 were stumbling up by 218 points or blink high by 0.81 percent. Nse Nifty Closes at 8091 were healed up by 63 points or root slide up by 0.78 percent. The The BSE Midcap index ended 0.5 percent higher and the BSE Smallcap index edged higher by 0.6 percent each in today intraday trading.

Sensex Major Resistance on Upside at 27189-27279-27369

Sensex Major Support on Downside at 26945-26791-26701

Trend Deciding Level at 27035

Nifty Index Major Resistance on Upside at 8156-8221-8286

Nifty Index Major Support on Downside at 7967-7843-7778

Trend Deciding Level at 8032

Major Headlines

Dr Reddys Lab Second Quarter consolidate net profit were by down 17%

Orient Bank of Commerce net profit were up by 16%

Grasim Q2 bang approximates; consolidate net profit at Rs 416 cr

Sesa Sterlite In-rank Q2; consolidate net profit at Rs 1619 cr

Nifty Indices

The Nifty has finally broken out of the triangular pattern formed on its hourly chart and begun wave 5 of V, as was forecast in our High Noon report today. In the same report we had also revised our short-term target to 8125, which is close to the falling trend line, and we continue to believe that the Nifty will achieve the target.

The Bank Nifty has a few more legs on the upside and until those levels are achieved the index will continue its uptrend. The momentum indicators are well in buy mode which has increased the upside probability. Now the crucial support on the lower side is pegged at 8052 and till the support is held intra-day traders can continue to buy on dips for our short-term target.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 7923 and 7931 respectively. The thrust indicator is trading in positive sort on the daily chart

In the hourly chart, the Nse Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 8023 and 7996 correspondingly, which are crucial intraday level. The hourly impetus indicator encompass turned positive.

The market duration was turned positive with 862 advances and 648 declines, Unchanged 81 Total Issue 1591 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8106-8120-8133

Nifty Future Major Support on Downside is at 8068-8044-8030

Trend Deciding Level at 8082

Bank Nifty Major Resistance on Upside at 16761-16872-16982

Bank Nifty Major Support on Downside at 16565-16480-16369

Trend Deciding Level is at 16676

30 Days Simple Moving Averages @ 7968

50 Days Simple Moving Averages @ 7966

150 Days Moving Averages @ 7479

200 Days Simple Moving Averages @ 7163

Intraday Tips

Buy Nifty Oct Intraday Fut above 8115 sl 8090 Tgt 8135-8160 {Or} Sell below 8065 sl 8090 Tgt 8045-8020

Buy Bank Nifty Oct Intraday Fut above 16700 sl 16650 Tgt 16750-16800 {Or} Sell Below 16600 sl 16650 Tgt 16550-16500

Weekly Calls

Buy Everday above 111 sl 96 Tgt 130-145

Buy Indhotel above 102 sl 88 Tgt 108-135

Curious Fact

“Mr. Watson, come here. I want to see you”, said Graham Bell into the mouthpiece of the telephone. This was the first sentence spoken by Man over the telephone. Thomas Watson was Bell’s electrical mechanics. .