STOCK MARKET FOR THIS WEEK
This week global cues had led the market. Nifty created new highs and also crossed the psychological number 5000. FII’s remained net buyers through out the week expect one day. They had bought 6450-odd crores in this week. Inflation turned from negative to positive in this week. Technically in the weekly price chart up move pattern had formed. Nifty had elevated from the 4700 – 4800 trading range to 4800 – 4900 trading range this week. Some good news this week are credit growth started to pick up, our economy was away from worst and US economy too recover soon. By and large this nifty traded in tight range and in positive region.
DOW JONES THIS WEEK
Technically in weekly price chart a break out had happened. It had crossed the critical resistant level 9500 this week and closed far away. Some economic indicators are turning from negative to positive may the reason for the breakout I feel so. However unemployment data had been rising. This week was bullish week for dow jones.
STOCK MARKET TREND FOR COME WEEK
Again global cues and Sep contract expiry will lead the market come week. Technically in the weekly price chart we may expect a bull trend for come week, that too only when global cues come positive.
Last week FII’s were net buyers for 6450-odd crores and a week before last week [07/09/09-11/09/09] they were net buyers for 2900-odd crores. Totally for past two weeks they were net buyers for 9350-odd crores. For past two weeks nifty had been trading in side ways.
This was highest two week FII’s inflows, compared to the net two week FII’s inflows on May 2009 and Sep 2007.
On May 2009, from 04/05/09 - 15/05/09 for two weeks, FII’s net inflows were 8000-odd crores. Again, technically for this period nifty had been trading sideways and very next trading session, on Monday 18/05/09 nifty had a break out and hit the upper circuit due to congress victory.
On Sep 2007, from 03/09/07 – 14/09/07 for two weeks, FII’s net inflows were 3450-odd crores. Again for this period, two weeks, nifty had been trading side ways and had a break out. Nifty rallied for more than 700 points without correction.
Would global cues come positive then we may see good upward breakout in come week.
Would any negative global cues come; there is high possibility of nifty moving downwards because there was huge gap up opening on May 15th which was left unfilled till date.
By and large I strongly expect a breakout and the direction would depend on global cues.
DOW JONES COME WEEK
Technically in the last weekly price chart a breakout pattern had formed. So I feel come week the bull trend will continue. Technically if I am correct, then Dow will cross 10000 levels come week. Let’s see what happens.
STOCK MARKET TREND FOR TUESDAY
Technically in the price chart a waiting pattern had formed for past two weeks. FII’s had a bought 9350-odd crores for past two weeks. Depend on global cues we may expect a breakout. I suggest visitors to watch the global cues for intraday and trade with strict stop loss. The important levels to watch is around 4940 – 4960 levels were, for past three trading sessions, nifty saw selling pressure. I suggest visitors buying only above this level with strict stop loss 4940.
FREE INTRADAY TIPS FOR NIFTY
Technically in the price chart a waiting pattern had formed so we may expect a breakout either side depending on global cues. Here I give levels for both buying and selling.
NIFTY LEVELS
BUY ABOVE - 4960
TARGET 1 - 5002
TARGET 2 - 5060
TARGET 3 - 5110
STOP LOSS - 4940
SELL BELOW – 4912
TARGET 1 - 4880
TARGET 2 - 4820
TARGET 3 - 4760
STOP LOSS - 4930
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