Nifty Positive Travel Extends and Futures Trading Tips

Futures Trading TipsIndian Stock Futures Trading market hit record highs on today as lenders such as Axis Bank rallied ahead of their financial results starting anon this week, while strong gains in debt markets condensed concerns about budding losses in the sector's tie portfolios. The Bombay Stock Exchange Sensex closes at 22765 were up by 136 points or gained 0.60 percent; BSE Midcap index gained 0.79% while BSE Small cap rose 1.38% in trade today.

Sensex Major Resistance on Upside at 22852-22939-23026

Sensex Major Support on Downside at 22643-22521-22434

Trend Deciding Level at 22730

Nifty Index Major Resistance on Upside at 6835-6852-6869

Nifty Index Major Support on Downside at 6791-6764-6747

Trend Deciding Level at 6808

Major Headlines

LIC Housing FY14 consolidated net profit up 26% (YoY)

Hindustan Zinc Q4 net profit down 13% (YoY)

Mitsubishi Corp, TCS plan to merge Japan IT ops

Future Consumer to set up UAE subsidiary with investment of Rs 246 cr

Tech Mahindra to acquire 75% stake Fix Stream Networks for USD 10 million

Pfizer shareholders approve merger of Wyeth with co

GMR Infra: promoter releases pledge on 1.25 cr shares on April 15

Hero MotoCorp launches operations in Bangladesh

HDFC Bank and MRF Results Tomorrow

Indian Indices

The Nifty take off its previous swing’s high of 6819 levels to close at 6817 which indicates that the up move has been extended. Consequently, the immediate target on the upside at 6870.

Bank Nifty have now started it wave five up. The minimum target of this wave five comes at in the region of 13330 levels, ie the upper end of the larger triangular pattern

In the daily chart the index is trading above the Twenty-Daily moving averages (DMA) and the Forty-DMA, ie 6688 and 6559 correspondingly. The momentum pointer is trading in negative mode with negative deviation.

In the hourly chart, the Nse Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 6752 and 6754 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned positive. The market duration was turned positive mode today with 1004 advances and 475 declines on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 6852-6875-6898

Nifty Future Major Support on Downside is at 6804-6779-6756

Trend Deciding Level at 6827

Bank Nifty Major Resistance on Upside at 13072-13156-13240

Bank Nifty Major Support on Downside at 12877-12766-12682

Trend Deciding Level is at 12961

5 Daily Moving Average @ 6756

50 Daily Moving Average @ 6420

200 Daily Moving Average @ 6094

5 Days Relative Strength Index @ 68 and 14 Days Relative Strength Index @ 68 INDICATES NIFTY PLACED IN BULLISH ZONE, WITH NEUTRAL MOMENT.

Global Trends

Gold Trading Below 1286

US Dollar Index Trading Around 80-79.97

Nymex Crude Trading Around 105-103.66

DOW Future Trading with 22 points gain on Monday Intraday Trade

Neutral Global Trend Seen

Futures Trading Tips

Buy Nifty Fut April Intraday above 6850 sl 6820 Tgt 6870-6895 {Or} Sell Below 6800 sl 6825 Tgt 6780-6755

Buy Bank Nifty April Intraday above 13030 sl 12980 Tgt 13080-13130 {Or} Sell below 12930 sl 12980 Tgt 12880-12830

Curious Fact

Shivanand Shankar Mankekar, a professor at a college in central Mumbai, is holding 1.06% of United Spirits Ltd, making him the largest Indian shareholder in the company. None of the other Indian shareholders, including the institutional ones that include Reliance Mutual Fund, DSP BlackRock MF, SBI MF and UTI MF, hold more than 1% in USL.

Bullion Weekly Technical Levels and Commodity Market Tips

Commodity Market TipsGold coming to next week, we believe that prices may mostly remain subdued initially while prices might see a good amount of volatility by the end of the week. From the economic data front there are no major triggers expected in the early part of next week so gold market may also remain sideways. However, as the week progresses, gold may see volatility ahead of a few key economic data such as the euro-zone GDP, Mario Drghi’s meeting and US Janet Yellen’s first testimony. These events might cause instability in gold’s price trend. While we look at the investment front, gold holdings for the first time in the last one year have shown a slight improvement. The SPDR holdings have been rising gradually since the beginning of 2014 and so, any further rise in investment demand might curtail gold’s price fall. Also, gold’s safe haven appeal is also rising gradually when other asset classes and the emerging markets are dipping. Nevertheless, we do not intend to hold a completely bullish stance on gold for the next week. However, a marginal price gain could be seen, especially when the Fed is continuously slowing down its asset purchase programme. Meanwhile, our in-house study suggests that two consecutive closes above $1280 might change gold’s price trend. So, unless that level is breached, we will not turn completely bearish on gold. We also recommend that our traders make only a one day trading call on gold in the next week

Gold Mcx April as see in the weekly chart greater than has opened the week at 28,694 levels initially moved lower, but has found good support at 28,606 levels. Later prices rallied sharply towards 29,080 levels, but could not sustain corrected back lower towards 28,625 levels and lastly closed marginally higher from the previous weeks closing levels. For the Coming week we anticipate gold prices to find support in the range of 28,550–28,520 levels. Trading without fail below 28,500 levels would lead towards the strong support at 28,330 levels and then as a final point towards the major support at 28,050 levels. Resistance is now pragmatic in the range of 29,020-29,060 levels. Trading without fail above 29,100 levels would lead towards the strong resistance at 29,290 levels, and then finally towards the Major resistance at 29,750 levels.

Trend: Side Ways

Major Resistance on Upside at 29020-29290

Major Support on Downside at 28550-28330

Silver as stated in the gold section that market would remain mostly stable at the most part of the week the similar kind of movement is expected on silver prices too. However, we do not intend to hold a very strong outlook on the commodity while price gain could be noticed. The silver investment holdings at the I-shares holdings are seen marginally rising which may help the commodity to trade higher. Nonetheless, silver would take cues from equity markets performance and the base metals trend. We believe initially silver commodity may advance while towards end of the week the gains could be limited and volatile trend may be noticed. Overall, we believe silver may remain within the confined range and trade in the range of $19 to $20.2

Silver Mcx March as seen in the weekly chart above has opened the week at 43,250 levels initially moved lower, but has found good support at 42,928 levels. Afterward prices rallied sharply towards 45,223 levels, and in conclusion closed higher from the previous weeks closing levels. For the coming week we anticipate silver prices to find support in the range of 44,200–44,150 levels. Trading consistently below 44,000 levels would lead towards the strong support 43,120 levels and then finally towards the major support at 41,950 levels. Resistance is now pragmatic in the range of 45,600-45,650 levels. Trading without fail above 45,650 levels would lead towards the strong resistance at 46,470 levels, and then as a final point towards the Major resistance at 46,930 levels

Trend: Up

Major Resistance on Upside at 45420-46470

Major Support on Downside at 44170-43120

Commodity Market Tips

BUY GOLD MCX APRIL BETWEEN 28550-28500 SL 28300 TGT 28900-29000

BUY SILVER MCX MAR BETWEEN 44150-44000 SL 43100 TGT 45000-45600

Agri Commodities Looking Mostly Sideways and Commodity Market Tips

Commodity Market TipsTurmeric Prices opened steady and slipped during early hours of trade but recovered after couple of hours and being unable to sustain at higher levels slipped marginally finally the prices close with the formation of doji candle hinting reversal trend in short term. On the downside 6820 and 6660 might act as strong support zone and may prevent prices to go sharply beyond the given level. Now Open Interest and Volume are increasing signaling some short covering at lower levels. Any near term jump might find stiff resistance towards 7150-7322 and likely to limit aggressive gains. The prices ended above the Exponential Moving Averages and thus indicating the possibility of further uptrend in prices. Moving Average Convergence Divergence is trading in positive territory showing some bullish movement in coming trading session. The 14 day Relative Strength Index is in neutral zone sloping upward and Stochastic (9,3,3) also continued to trade in neutral zone with upward bias. Concisely prices are expected to show some profit booking in coming trading sessions.

Major Resistance on Upside at 7150-7322

Major Support on Downside at 6820-6660

Trend Deciding Level at 7016

Sugar Prices opened flat and surged marginally but being unable to sustain at higher levels and slipped during last trading hours. Finally ended the day with the formation of red candle signifies weak trend in coming trading session. Volume declined during the session and thus the prices may enter in a zone of consolidation of may weaken. Any surge in prices for short term might face stiff resistance barrier towards its Exponential Moving Average zone and breaching the same might turn the sentiments positive. The prices have been trading range bound with weak trade for last couple of trading session. It comes close towards its support from where it is likely to get technical bounce towards 2688. Moving Average Convergence Divergence is trading in neutral region with downward bias indicating weak trend in days to come. The 14 day Relative Strength Index 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 trade with high volatility and one may avoid aggressive trading.

Major Resistance on Upside at 2688-2705

Major Support on Downside at 2651-2630

Trend Deciding Level at 2665

Cardamom Prices open steady and move sideways during early trading hours but could not been able to sustain at higher price levels. Strong selling pressure from higher levels brings prices to fetch towards its key support zone near 710. Finally prices closes with the formation of positive candle with long upper leg indicating sideways to positive trade during coming couple of trading session. Now OI and Volume are increasing signaling some short covering at lower levels. On the downside 710 and 696 might act as strong support zone and may prevent prices to go sharply beyond the given level. Prices are in the stage of indecisiveness as trading between 20 day Exponential Moving Average support and 50 day Exponential Moving Average resistance. Moving Average Convergence Divergence is trading in neutral region with downward bias indicating sideways to weak trade in near term. The 14 days Relative Strength Index and Stochastic (9,3,3) is trading in neutral region with downward bias indicating sideways to weak trend in coming trading session. Concisely prices may slip further and one may enter in short if prices gave some recovery

Major Resistance on Upside at 736-752

Major Support on Downside at 710-696

Trend Deciding Level at 722

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 12430 but unable to sustain at lower levels and surged marginally after wards amid intraday short covering. Prices closed with the formation of bearish candle indicating little weakness during coming couple of trading session. Now Open Interest 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 12285 and 12170 might act as strong support zone and may prevent prices to go sharply beyond the given level. The prices ended below the Exponential Moving Averages and thus indicating the possibility of further downtrend in prices. Moving Average Convergence Divergence is trading in neutral region with downward bias indicating sideways to weak trade in near term. The 14 day Relative Strength Index 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 12620-12758

Major Support on Downside at 12285-12170

Trend Deciding Level at 12443

Commodity Market Tips

SELL CARDAMOM MCX FEB ON RISE NEAR 725 SL 736 TGT 715-710

SELL TURMERIC NCDEX APR ON RISE NEAR 7150 SL 7322 TGT 6950-6720

SELL JEERA NCDEX MAR ON 12620 SL 12758 TGT 12460-12390.

Nifty Back to Hitting Tonnes Speed

Key Indices

Intraday Stock TipsBse Sensex Major Resistance on Upside at 20044-20186-20328

Bse Sensex Major Support on Downside at 19645-19388-19246

Trend Deciding Level for Bse Index at 19787

Nifty Spot Major Resistance on Upside at 5958-6006-6054

Nifty Spot Major Support on Downside at 5821-5732-5684

Trend Deciding Level for Nifty Spot at 5869

Corporate Highlights

  • Coal India Sept production at 33.16 mt vs target of 33.58 mt.
  • Infosys signs multi-year managed contract with Toyota Motor Europe
  • Lupin launches generic Zymaxid Ophthalmic solution in US market
  • Rupee ends at 61.73/USD vs 62.46/USD on Tuesday

Market Round Up

  • Nifty spot closed in the positive note yesterday was up by 129 points and closes at 5909. In excess of the next couple of days it is expected to trend up till 6000. In this period the key support will be at 5840 and resistance will be at 6000.
  • In the daily chart the index is trading above the Twenty-DMA and the Forty-DMA, ie 5837 and 5762 respectively. The momentum pointer is trading in negative sort.
  • In the hourly chart, the Nifty is trading above the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 5802 and 5840 respectively, which are crucial intra-day levels. The hourly momentum indicator has turned positive. The market breadth was positive yesterday with 792 advances and 388 declines on the National Stock Exchange {NSE}.
  • Nse Nifty Fut Major Resistance on Upside at 6026-6086-6146
  • Nse Nifty Fut Major Support on Downside is at 5876-5786-5726
  • Trend Deciding Level for Nifty Fut at 5936
  • Nse Bank Nifty Fut Major Resistance on Upside at 10443-10581-10718
  • Nse Bank Nifty Fut Major Support on Downside at 10063-9821-9683
  • Trend Deciding Level for Bank Nifty Fut at 10200
  • 5 Daily Moving Average @ 5828
  • 50 Daily Moving Average @ 5701
  • 200 Daily Moving Average @ 5839
  • 5 Days Relative Strength Index @ 60 and 14 Days Relative Strength Index @ 57INDICATES NIFTY PLACED IN TRADING ZONE, WITH BULLISH MOMENT.

Today Intraday Stock Tips

Buy Nifty Fut Nse Oct Above 5980 sl 5955 Tgt 6005-6030 {Or} Sell Nifty Fut Nse Oct Below 5930 sl 5955 Tgt 5905-5880

Buy Bank Nifty Fut Nse Oct Above 10360 sl 10310 Tgt 10410-10460 {Or} Sell Bank Nifty Fut Nse Oct Below 10265 sl 10310 Tgt 10215-10165

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