STOCK MARKET THIS WEEK [07/09/09 - 11/09/09 ]
This week market was driven by global cues. Our market traded in tight range in positive mood. This week nifty traded above the last week level and hit year highs. FII’s were remained net buyers for this week. They had bought 2900- odd crores. Technically in the price chart a waiting pattern had formed. To my knowledge only profit booking correction had been seen in this week not any corrections due to weak data seen. IIP and inflation data seem to be rather good. IIP data for July was 6.8 which was higher compared to last year and bit down compared to last month. However it not that much bad because June IIP data posted a robust growth and this it month slide slightly I feel so. In addition economist feels that in come months IIP data would be raising. Yesterday FM had told that our economy started to recover but the in modest pace and to my knowledge this is positive news. My sense from his statement is that we are out of ICU but still in hospital and by and by we will be out of hospital too.
To my knowledge an important thing is that had closed above for three days consecutively and also closed above 4828 level on Friday. I feel it signals for further up movement but again depends on the global cues.
DOW JONES
Dow too traded in tight range this week. In weekly price chart a side way trading pattern had formed. It also closed above 9500 levels for three days continuously and above 9600 levels on Friday. I expect, it would move upwards in come week.Let’s see what happens.
By and large this week was entirely influenced by global cues and I feel it was a progressing week for nifty.
STOCK MARKET TREND FOR COME WEEK [14/09/09 - 18/09/09]
Again I feel this week too global cues will lead the market. Had nifty closed above the critical resistant 4828 levels last week, I expect nifty would touch 5000 levels come week and all depend on global cues. In USD/INR price chart, technically, I feel the rupee may appreciate come week. Consequently our market may see capital inflows.
DOW JONES
In US too good news started to come and bad news to diminish. Had dow closed above critical resistant 9500 levels, for come week, technically, I expect a break out. Would it happen then our market will join hands and march forward.
STOCK MARKET TREND FOR MONDAY
Technically a waiting pattern had formed on Friday and nifty closed above the critical resistant 4828 levels I feel we may expect an up move on Monday and that too depends on global cues. Around 4870 levels we may see more selling. I suggest visitors to watch global cues and trade with trailing stop loss.
FREE INTRADAY TIPS FOR NIFTY
Technically 4828 levels and 4780 levels should be watched are intraday trades. Would nifty remain above this level then we may buy nifty with strict stop loss 4803. I expect a breakout so I give both buying and selling levels. I suggest visitors to trail the stop loss and trade.
NIFTY
BUY ABOVE - 4828
TARGET 1 - 4860
TARGET 2 - 4890
TARGET 3 - 4910
STOP LOSS - 4803
SELL BELOW - 4780
TARGET 1 - 4740
TARGET 2 - 4703
STOP LOSS - 4803
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