Nifty closed at 5178, a +ve sign for next week!

First of all a belated Merry Christmas to all the visitors. Nifty is heading upwards with good volumes, all we require is a break above 5200 and close above it and we will see 5400-5500 in any day.
Good news is that Dow Jones is supporting the world markets with its current rally. Last minute Christmas sales in US show, that people are into shopping and ready to shell out money to buy rather sit at home and warm their chairs.
Once again IT,FMCG and AUTO sectors are expected to do well in coming week, pls lookout for the levels by tomorrow, although markets are closed tomorrow, due to Eid.

Happy Trading!

Dow Jones in an upside continuation pattern!

A small intraday correction on 23Dec was averted yesterday, by Dow jones rally, which lead to a new weekly high and has given a +ve direction on upside. Closing of Dow Jones above 10510, will take it to 10570, from where some resistance will happen, and if that will be crossed then we should witness 10800-10900 in coming days, and which will eventually favor, Indian markets as well.
I advise IT stocks to be accumulated, and not to mention my favourite Reliance stock.Nifty should touch 5300-5400 levels before 1/1/2010, if and only if Dow Jones rally remains intact.

Technology and IT looking strong.

Technology stocks looked to close the week on an upbeat note Thursday as most sector leaders rose in what is expected to be a quiet, and shortened, trading session ahead of the Christmas holiday.
Among big-name tech stocks, gains came from Apple Inc. (AAPL), up $4.60 a share to $206.70; Intel Corp. (INTC), which rose 15 cents to $20.25 a share; Hewlett-Packard Co. (HPQ), up 18 cents a share to $52.68; and Cisco Systems Inc. (CSCO), which edged up by 12 cents a
share to $23.91.
The Nasdaq Composite Index climbed more than 10 points to 2279, while the Philadelphia Semiconductor Index rose 1%. The Morgan Stanley High Tech 35 Index also gained ground.
U.S. markets are scheduled for just a half-day of trading and are set to close at 1 p.m. Eastern time for Christmas Eve.
IT sector is expected to move further UP in Indian Markets, as its looking bullish in charts, WIPRO, HCLTECH looking good in coming days for long.

Dow jones heading to new levels!

Economic reports released ahead of the long holiday weekend show strength is returning to the U.S. manufacturing sector and new claims for jobless benefits retreating to pre-Lehman levels.
Durable goods orders rose slightly less than expected in November but were up
2.9% when stripped of volatile numbers from the commercial aircraft and
defense sectors.
Dow Jones heading to new levels and this is a very +ve sign for nifty in coming days as well.
A major hurdle at 10570 is expected, and if crossed then we will see 10800-10850 by next week.
Nifty could cross 5200 levels by next week as well, provided Dow jones continues to hold its rally.

Dow Jones holding its 10450 intraday support!

At present an intraday support of 10445-10450 is holding the dow Jones in +ve, below which we might see it heading to 10400 in intraday.another 3hrs are left for it to close, Europe indices have closed in green, which might help in sustaining the small rally on Dow jones at present.
All in all global indices are showing small strength before the christmas, and if it continues like this, then we might witness a rally in Dow jones till 10600, which is not far.

Dow Jones heading in +ve direction!

At present Dow Jones in +ve and we could see a further rally in Nifty tomorrow till 5050 levels.We can see further rally in Nifty tomorrow, today Dow Jones resistance level at 10520,above which we should see 10570-10590, if crosses 10600 and closess above it, we will see 11000 level in Dow jones before 2010.

Nifty ranged between 4950-4990

As anticipated Nifty is stuck in a range of 4950-4990, upper resistance level is 5005, above which we should see 5050-5075 levels.We continue to be bullish on bhartiartl whose call was given in afternoon, so pls keep watching this blog on hourly basis.

Bhartiartl good for long!

At present a resistance for Bhartiartl at 323, above which we expect 330 in intraday,stop loss at 318.

Nifty near its important resistance levels!

As mentioned yesterday about the movement of nifty, we are experiencing the same today. 4980-4990-5000 are triple resistance levels from where weakness will be expected. Due to low volumes we expect a ranged movement today, midcaps at present showing strength.
Tatasteel looking good on charts for long.

Dow jones headed upwards on pre-holidays!

With a welcoming small rally in Dow jones today, its maintaining above it lower bollinger band and heading upwards. At present the level is 10439, resistance at 10516, once Dow jones crosses 10600, we will see further rally to 11000 level and which will infuse small bullishness in Nifty as well.
We expect Nifty to recover tomorrow back to 5000 level, where it will expect good resistance.
All eyes on reliance industries, and IT stocks, which can hold our indices in +ve.

Nifty closing below 4980, more weakness expected!

Today Sensex closed at 16601 whereas Nifty closed at 4952.60 which indicates some further correction in the offing. Although reliance was able to hold its key support level of 1005, below 1000 we should expect correction not only in reliance but will further weaken Nifty and other heavyweights.
We expect nifty to move in a range of 4900-4980 in coming days.

Nifty intraday resistance at 4990

At present Nifty has full potential to touch 4900 level in coming days, but IT stocks might help it to recover. Reliance industries is holding its important support level of 1005, and close above it might take it to 1030 this week itself.

Nifty expected to be ranged today!

We expect a mixed opening at present in Nifty as it is near a very important support level.hangseng at present is weak and Dow jones nearly managed to close in +ve on friday.All in all we dont expect any heavy correction at present.
Nifty is expected to cross 5000 but will see hurdles above 5050-5080.

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Shubh-labh team.