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Posts Tagged ‘Futures

Turbulence ahead of result season

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Last week was truncated to a 3 day trading week, but we witnessed huge volatility as markets made a low of 5735 & high of 5930 within a day, a decline once again towards the weekend to close at the 5824 level. After the sharp rally from 5350 markets has closed around the 5800 level for the last three weeks. The  short term trend will be at risk once nifty futures sustain below the 5800 level and the medium term trend could be at risk only if Nifty futures break the 5700 level.

Wild stock specific movement can be expected in next few days and hence caution is advised, as markets experience high turbulence ahead of the of result season. Long term averages are in favor of bulls though very short term indicators point towards a downward move.


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Written by Rakesh Gandhi

April 18, 2011 at 2:07 pm

Posted in Market Update

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Markets Today

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Leading up to and during the budget we had a strong belief of increasing volatility & yesterday we saw indices fluctuate by 7% of their value intraday. Nifty almost touched 5500 which indicates a key level for a change in trend, soon thereafter we witnessed a downturn primarily because the gains failed to absorb the selling pressure emerging at higher levels.

I believe the effects of budget will reflect on indices sooner than later but technically indices staying above 5400 and 18000 can be considered as bulls getting stronger.Markets could consolidate above 5225 & below 5500 before we see a big move on either side of  break out of the consolidation range. Further, an upward trend will emerge when Nifty futures manage to cross 5500 as one could see a completion of a bullish technical formation. On flip side the inability of market to stay above 5350/17850 will indicate the continuation of the ongoing down trend.

 

Written by Rakesh Gandhi

March 1, 2011 at 11:09 am

Posted in Market Watch

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Market View at 11am.

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Yesterday looking to the positive global cues, we opened with a gap up. During the day we saw further gain reaching a high of 5510.  With the news of Raja’s arrest, the end of the session saw benchmark indices losing the gain of the day, but still managed to end positive. This move signifies overall lack of confidence at the current juncture.

The current short term technical set up needs Nifty futures to sustain above 5480 & this morning after flat opening the Nifty future is trading at 5495 .Over the last few days,  evident trading patterns have emerged based on different analyzing perspectives that suggest 5300 to 5400 as a very dependable range. One could see a sharp upward momentum towards the end of the week if Nifty futures sustain 5530.

Written by Rakesh Gandhi

February 3, 2011 at 11:02 am

Posted in Morning Markets

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