Some More Daily Trading Tips..

 

Courtsey :- ShareGuru

USD/INR Daily

Dollar continued to be sideways even as the range of the pair continues become narrower. USD/INR opened the day at 46.85 and closed at 46.86 levels moving in a 10 paisa range. This narrow range was witnessed despite the fact that Dollar index breached the crucial 78 levels and traded at 78.09 levels. Dollar rose against the Euro and the Yen as evidence that America's economy is gaining momentum encouraged speculation that Federal Reserve will start to withdraw its stimulus. Indian equity markets fell yesterday but revival of Dow Jones which closed 85 points positive is expected to have influence on Nifty as well. The inflation concern continued to affect bond yields which rose to 7.61% from 7.56% the previous day. As inflation numbers rise all hopes are set on Rabi crops which have shown encouraging growth after devastating Kharif production this year. Looking at USDINR we fell the pair will be range‐bound for coming 1‐2 weeks time period. On upside 47.05 will act as a resistance while on downside 46.60 will act as a critical support.

 

Intraday Trading Calls dt 22-12-09

 

Short Calls on	22-Dec-09
NSE Equity code	Sale below	Target (1)	Target (2)	Stop Loss	Target1 Percent
RNRL	69.20	68.60	67.25	69.60	-0.87
ANDHRABANK	103.20	102.40	100.60	103.70	-0.78

 

Long Calls on	22-Dec-09
NSE Equity code	Buy above	Target (1)	Target (2)	Stop Loss	Target1 Percent
COROMANDEL	235.1	238.2	240.1	233.2	1.32

(For Script Detail click on script code)  

 

Nifty Target and Stop loss				Bearish
Stop Loss 1	Stop loss 2	Pivot	Target 1	Target 2
4910.90	4931.75	4964.80	4985.65	5018.70
Note: -	1.If Bullish take only Long Position don't short.
	2.If Bearish take only Short Position don't long.

Courtsey :- O P Mittal at omittal@gmail.com
Visit http://blog.opmcapitalknp.com

Yesterday Market Summary

Last trading day: Monday, 21 December

Amid quiet global cues, our market ended a dull, flat day of trade with low volumes. Sensex shut shop at 16601, down 118 points and Nifty at 4952, down 35 points from the previous close. CNX Midcap index was down 0.15% and BSE Smallcap index was down 0.31%. The market breadth was negative with advances at 506 against declines of 761 on the NSE. Top Nifty gainers included Axis Bank, TCS and Cairn India while losers were Hindalco, Mahindra & Mahidra and Cipla. 

Nifty 5100-5200 are key supply zone levels, says Laurence Balanco of CLSA on CNBC TV18. Nifty has key support at 4000-4400 levels, he says. If Nifty is able to cross 5200 then it is headed for 5500, he adds. But the short-term trend looks negative, and Nifty is likely to head to 4700, he says. If Nifty breaks 4700 it would mean a trend reversal, a break from the earlier bullish trend, he says. 

In the short and medium term the market is likely to stay rangbound, says Gaurang Shah of Geojit BNP Paribas, on Zee Business. But Indiaÿs long-term story is intact, he says. So accumulate fundamentally good stocks for long-term gains, he adds. In pharma, his top picks are Aurobindo Pharma, Glenmark and Lupin.  

It was a dull, flat day of trade with the market grinding lower on profit booking. Sensex closed at 16584, down 135 points (provisional) and Nifty at 4944, down 35 points (provisional) from the previous close. CNX Midcap index was down 0.16% and BSE Smallcap index was down 0.21%. The market breadth was negative with advances at 503 against declines of 755 on the NSE.