MARKET OUTLOOK 
                         SEPT 30, 2009

                        

 

SUPPORT

TODAY’S MARKET LEVELS

RESISTANCE

2

1

1

2

16684/613

16802/763

SENSEX – 16852.91

16908/943

17028/140

4955/33

4991/79

NSE - 5006.85

5024/35

5061/95

 

                   OVERVIEW & BRIEF TECHNICAL

 


Market remained in a thin range for the entire session
Whole day, market remained in a very narrow range of 105 points amid low volume but positive A/D ratio. Analysis remains the same that we are still in wave 'G' of a Diametric from March 2009.

'A' of this Diametric has in fact taken 22 days which was erroneously posted as 21 days. 'G' has so far consumed 16 days impending with 6 more days approximately (plus or minus) to end this set up.

We now require, cross over of 16943 to get rid of sideways and subdued market and gather more strength. Weakness can creep in only below 16494, where chances of violating D-F line will increase.

On higher side 17400 can be easily achieved once 16943 is taken out. Traders should look for buying on intra-day dips, as trend is still up, unless it is proved otherwise.

Supports for the day are at 16802/16763/16484/16613 and resistances are placed at 16908/16943/17028/17140.

 

 

 

 

LONG TERM MARKET VIEW ... Authored in Sept. 2005
(Latest long term view will be updated soon)

 

          TRADERS PARADISE
        A Profitable Day-Trading Product

                 This is a unique product for intra-day trading with high success rate. Traders must see
                  that their trades are squared off at the end of the day. Do not carry any position home.

              (READ HOW TO USE THIS TABLE)

                                                                   

 


 

STOCK

 

 


 

CMP

 


         SUPPORT

 

 


 

RECOMMENDATIONS

(If limits does not come, sell below S1)



 

S/LOSS

 


RESISTANCE


S2


S1


R1


R2

 

AXIS BANK

 925 915 920 Go Long on some decline @ 919/921 with a given stop-loss. 914 930 937/43

DIVIS LAB

 562 546/35 558 Go Long on some decline @ 548/552 with a given stop-loss. 534 567 575

KOTAK MAH

 758 736 747 Go Long on some decline @ 746/748 with a given stop-loss. 735 762 775

ONGC

 1186 1165 1178 Go Long on some decline @ 1174/1178 with a given stop-loss. 1164 1192 1205/18

 

                      (OPEN CALLS SEPT. 2009)
                      SMART TRADERS DWELLING RING
                                  RIDE THE TREND TILL THE WEIGHT OF EVIDENCE INDICATES THAT IT HAS REVERSED
                              (DERIVATIVES PICKS
                             (Future prices)
                         
               (If given limit does not come but (NIFTY or Stock trades) beyond T1, you may choose to trade for T2 in desired direction)

STOCK

CALL STARTED ON

TRAD INST

TREND

LONG/
SHORT

S/L

TARGET

TARGET ACHIEVED ON

NO OF DAYS

% RETURN

T1

T2

T1

T2
                       
NIFTY 29/09 FUTURE  UP LONG @ 4966/4968 4929 5008/27 5048/75  

OPEN

   Continue
NIFTY 25/09 FUTURE  UP LONG @ 4962/4966 4919 5010/27 5048/75  

CLOSED 25/09

 1 Day 6.7%
NIFTY 24/09 FUTURE  DOWN SELL @ 4988/4992 5028 4951 4936/09  

CLOSED 24/09

 1 Day Flat
NIFTY 24/09 FUTURE  UP LONG @ 4909/4911 4869 4936 4951/88  

CLOSED 24/09

 1 Day 12.1%
NIFTY 23/09 FUTURE  UP LONG @ 5010/5012 4969 5048 5080/5110  

CLOSED 23/09

 1 Day -6.6%
NIFTY 22/09 FUTURE  UP LONG @ 4990/4992 4939 5011 5040/80  

CLOSED 22/09

 1 Day 7.6%
NIFTY 17/09 FUTURE  UP LONG @ 4940/4950 4907 4972 5040/65  

CLOSED 18/09

 1 Day 5.3%
NIFTY 16/09 FUTURE  UP LONG @ 4864/4872 4837 4910 4968  

CLOSED 16/09

 2 Day 8.9%
NIFTY 14/09 FUTURE  UP LONG @ 4814/4822 4767 4862 4890/4920  

CLOSED 15/09

 2 Day 6.8%
NIFTY 11/09 FUTURE  UP LONG @ 4782/4786 4744 4845/65 4890/4920  

CLOSED 11/09

 1 Day 9.4%
NIFTY 09/09 FUTURE  UP LONG only @ 4846/4852 4784 4890 4920  

CLOSED 10/09

 2 Day -6.4%
NIFTY 08/09 FUTURE  UP LONG @ 4756/4764 4711 4805 4860/90  

CLOSED 08/09

 1 Day 5.4%
NIFTY 07/09 FUTURE  UP LONG @ 4648/4652 4619 or
4582		 4712 4754/90  

CLOSED 07/09

 1 Day 10.9%
NIFTY 04/09 FUTURE  UP LONG @ 4611/4615 4569 4650 4685/4700  

CLOSED 04/09

 1 Day 13.6%
NIFTY 03/09 FUTURE  DOWN SELL @ 4610/4618 4661 4571 4540/20  

CLOSED 03/09

 1 Day -3.4%
NIFTY 01/09 FUTURE  UP LONG @ 4674/4678 4627 4709 4730/82  

CLOSED 01/09

 1 Day 5.4%
NIFTY 01/09 FUTURE  DOWN SELL @ 4627/4625 4674 4582 4547  

CLOSED 01/09

 1 Day 4.2%

 

Feedback and comments are invited from the readers.

analyst_mhk@hotmail.com

 

To subscribe, please click here

 

DISCLAIMER:  Author's recommendations are solely made with the purpose to educate the market participants/traders/investors and to enable them to derive maximum benefits by acting upon them. While due care has been taken in preparing these comments, no responsibility will be assumed by the author for the consequences whatsoever, resulting out of acting on these recommendations.