IDBI BANK

 IDBI BANK GRADUALLY HEADING TOWARDS 138 BY ESCAPING ALL EYES. BREAKOUT ON IDBI WEEKLY AND MONTHLY CHART GIVING STRONG BUY SIGNAL. 

BUY IDBI BANK ON DIP WITH STOP LOSS AT 98 FOR THE ABOVE TARGET.

DON'T BUY IN OPTION SEGMENT ON THIS RECOMMENDATION.

NOTE:- THE STOCK IDBI RECOMMENDED TO BUY IS NOT FOR INTRADAY TRADING. THE TARGET GIVEN ABOVE MAY ACHEAVE IN NEXT TWO MONTHS. INVESTORS WHO WANT TO BUY FOR TWO MONTH MAY BUY ONLY.

NIFTY X-RAY REPORT FOR 9 NOV

MARKET OPENED GAP DOWN DUE TO NEGATIVE GLOBAL TREND AND NIFTY FUTURE TOOK SUPPORT EXACT AT 5740 WHICH I TOLD YOU IN INTRADAY SECTION. MARKET CLOSED ABOVE THE 15 DAYS TRADING RANGE AT 5738.75. OUR MARKET SHOWED LESS WEAKNESS COMPATIBLY OTHER WORLD INDICES.

NIFTY 5700 PUT OPEN INTEREST STANDING 70,85,450 CONTRACTS WHICH IS SECOND HIGHEST IN PUT SIDE. TODAY IT ADDED 198,150 FRESH CONTRACTS IN FALLING MARKET INDICATING THAT 5700 LEVEL IS READY TO PERFORM AS SUPPORT LEVEL IN NEAR TERM IN THE MARKET. ON THE CALL SIDE NIFTY 600 CALL HAS HIGHEST OPEN INTEREST WHICH IS INDICATING THAT 6000 LEVEL WILL BE MAXIMUM LIMIT FOR THE UP SIDE IN THE CURRENT SERIES.

NIFTY DOWN BY 21 POINTS AND OPEN INTEREST DECREASED BY -3.8% WHICH INDICATES THAT MARKET WILL NOT FALL DEEPLY BECAUSE OPEN INTEREST IS NOT INCREASING WITH FALLING MARKET.

FII SOLD INDEX FUTURE WORTH RS 392 CORES AND OPEN INTEREST DECREASED INDICATING THAT PARTIAL PROFIT BOOKING HAS DONE IN THE FNO MARKET TODAY. BUT THEY ARE NET BUYER OF 261 CORES IN THE CASH MARKET.

NOW THERE ARE TWO SITUATION WOULD OCCURE IN THE MARKET ON FRIDAY. IF NIFTY FUTURE CLOSED ABOVE 5800 THEN IT WILL GIVE CONFIRMATION THAT MARKET WILL GO UP ABOVE THE 5900 AND IF MARKET BREAK 5710 NIFTY FUTURE LEVEL THEN WE MAY SEE SOME MORE CORRECTION. BUT AS PER DATA IT INDICATES THAT ITS CHANCES ARE VERY LOW. AS PER NIFTY CHART ANALYSIS SLOW STOCHASTIC IS IN OVERBOUGHT ZONE. ONE MORE THING WE HAVE CONSIDER TODAY THAT ON HOURLY CHART TECHNICAL INDICATORS HAVE COME DOWN VERY SOON WHILE THE MARKET REMAIN IN RANGE. INDICATES THAT MARKET MAY GIVE A ANOTHER BOUNCE FROM THIS ZONE.

OVERALL THERE ARE NO ANY SELL SIGNAL ON NIFTY DAILY CHART FURTHER. SHORTING WITHOUT SELL SIGNAL WOULD BE LIKE '' AA BAIL MUJHE MAAR''.  

INTRADAY UPDATE

ACCORDING TO NIFTY FUTURE HOURLY CHART IT SEEMS THAT IT HAS COMPLETED ITS DOWN SUB WAVE PRICE WISE BUT TIME WISE IT IS NOT COMPLEATED. IF 5440 HOLDS THEN WE MAY SEE UP SIDE RALLY FROM HERE. BUT TIME WISE NOT COMPLETED SO WE EXPECT SOME MORE TIME SPENDING IN THIS RANGE. UPSIDE VIEW WILL BE INVALLIED IF NIFTY FUTURE BREAK 5710.

MEANS UNTIL NIFTY HOLD 5710 NO WORRY AT ALL.

Obama’s re-election is good for US

Time was when it was enough to assess a US president's external policy and towards India in particular to decide whether he was good for India. The times have changed.

What happens within the US — in other words, a US president's domestic agenda — matters as much as his external policies, if not more. Primarily on this count, we welcome President Obama's re-election.

Full Coverage of US Presidential Elections 2012 

True, he has been louder in making protectionist noises against outsourcing. But outsourcing is an integral part of the dynamics of the global economy and no one can halt its onward march to encompass larger and larger areas of economic life, leave alone reverse it.

This is why President Obama has been pursuing a revamp of the US educational system, healthcare and information architecture, so as to raise the knowledge quotient of both US domestic activity and its workforce.

Innovation in the US is good for the US, but it is also good for the rest of the world, as computers, mobile phones and the internet, for example, demonstrate. Obama stands for inclusive growth, accommodation of immigrants and equality of opportunity, and Romney stood for the opposite.

The social values upheld by the Republicans are repugnant to women, decency and civil rights of the gay, lesbian, bisexual and transgender community. It is welcome that these values have been rejected by US voters.

America's soft power ensures that its values and policies influence values and politics in other countries. The world is better off with the American people endorsing values of inclusion and respect for diversity.

Obama understands the need to improve financial regulation, even if his record shows modest success in this regard. Romney stood for lax regulation of the kind that precipitated the crisis of 2008.

Obama's victory means that the hope of disciplining global finance stays alive and that fiscal policies will be more responsible and supportive of near-term growth. That matters to the rest of the world.

Obama's foreign policy, too, is more nuanced and adaptive to the more dispersed nature of global power, unlike Romney's. Hope and progress, Obama's slogans, get a boost, the world over. That is welcome.
Article published by TOI

NIFTY X-RAY REPORT FOR 8 NOV

 TECHNICALLY NIFTY GAVE A BREAKOUT CLOSING ABOVE THE 15 DAYS RANGE, BUT GLOBAL TREND IS LOOSING AND SGX NIFTY CURRENTLY TRADING AT 5736. IF YOU FOLLOW TECHNICAL THEN NO NEED TO USE ANY MENTAL FUNDA.

ARE  YOU GUYS BEING PANIC BY SEEING AMERICAN MARKET, YOU SHOULD BE, BUT DON'T BE. ONE MORE MOVE ABOVE 5900 AND DOW JONES ABOVE 13300 IS ON CARD. DUE TO GLOBAL WEAKNESS OUR MARKET MAY REMAIN NEGATIVE FOR TWO OR THREE DAYS BUT ONE MORE UP MOVE IS DUE.

NIFTY 5700 PUT ADDED 1443600 FRESH CONTRACT IN OPEN INTEREST.

NIFTY5800 PUT ADDED 1385000 FRESH CONTRACTS IN OPEN INTEREST. 

NIFTY 5600 PUT STANDING WITH HIGHEST OPEN INTEREST AT 7438100 INDICATING FURTHER THAT 5600 IS STRONG BASE FOR NIFTY IN NOV SERIES.

NIFTY FUTURE UP BY 26 POINTS AND OPEN INTEREST INCREASED BY 3% IN NIFTY FUTURE INDICATING THAT FRESH LONG POSITION HAS BEEN ADDED INTO THE SYSTEM TODAY.

NOW LETS TALK ABOUT THE CHARTS. THERE IS NO ANY SELL SIGNAL ON EOD CHARTS.  BUT AS PER ELLIOT WAVE THEORY ONE MORE UPMOVE SHOULD HAPPEN ABOVE 5900. AS YOU ARE SEEING THE CHART BELOW YOU WILL FIND THAT MARKET CLOSED TODAY ABOVE 68.2% FEB LEVEL. NEXT LEVEL IS  78% WHICH COMES AT 5950. AND THAT LEVEL IS DUE IN OUR MARKET TO COMPLETE THE WAVE. MONTHLY CHART SUGGEST THAT WE ARE IN C OF (B) OF [C] AND WE MAY SEE SOME MORE UP MOVE TILL 5950 TO COMPLETE THIS FULL WAVE. ONCE THIS IS  DONE WE MAY SEE C WAVE DOWN TOWARDS 3600 LEVEL. BELOW MONTHLY CHARTS THERE IS WEEKLY CHARTS GIVEN. HERE YOU WILL CLEARLY SEE THAT WAVE HAS DEVELOPED BEAUTIFULLY AND A PARALLEL LINE HAS DRAWN ON THE CHART. AND PRICES SHOULD TOUCH OR GO NEAR THE LINE TO COMPLETE THE WAVE. 78% FIBONACCI LEVEL IS ALSO COMING THERE AROUND 5950. THEREFOR TECHNICALLY IF FALL HAPPEN IN OUR INDIAN MARKET SHOULD GRAB AT LOWER LEVEL FOR THE TARGET OF 5950. FII BOUGHT 728 CORES IN CASH MARKET TODAY. FIIS HAVE BEEN CONTINUOUS BUYER IN INDIAN MARKET SINCE LAST TWO MONTHS. NIFTY SPOT STRONG SUPPORT AT 5680 AND 5650 USE THIS LEVEL IN BUYING. STOPLOSS SHOULD BE 5585.

GOOD LUCK

   

INTRA DAY STRATEGY

TODAT IS SPECIAL DAY SO I AM GIVING INTRADAY STRATEGY HERE FOR ALL MY VIEWERS.

1.CARRY LONG TRADE WHICH WE HAVE MADE AT LOWER LEVEL, IF NIFTY FUTURE TRY TO CLOSE ABOVE 5780.

2. EXIT LONGS IF NIFTY FUTURE BREAK 5742 LEVEL.

3.FRESH SHORT IF NIFTY FUTURE TRY TO CLOSE BELOW 5725.

4. DO NOTHING IF NIFTY FUTURE REMAIN BETWEEN 5742-5725.

GOOD LUCK

NIFTY X- RAY REPORT FOR 7 NOV

                                      FOR LARGER VIEW CLICK ON CHART
As we clearly see in the chart above that nifty opened gapup and sustaining above the gap from last three days. Therefor until nifty is above this gap no problem for bulls at any price. Nifty closing above 5720 will give more blasting move. Bulls made high of 5731 and closed at 5724 and broke the 15 days trading range. Global trend awaiting for US election result. Technically Nifty remain same as it was yesterday but nifty future closing above 5760 entered into bulls zone. Now the market is buy on dip mode. Nifty spot above 5733 can give a fresh bull move, but Nifty 5800 call added 859850 fresh contracts in open interest giving a signal that it may face resistance around 5775 spot nifty price. Nifty future Nov added fresh 3.86 lakh shares in open interest which is increased by 2.1%, which indicate that fresh long position has been created into the system today. Nifty 5700 put added 638150 fresh shares in open interest, indicating that nifty is ready to hold 5700 level and ready to bounce again. As I have told you that until Nifty future hold 5710 level there is no problems for bulls. Put call ratio increased from 1.10 to 1.12, also indicating that long has been created today. As I have told you yesterday that grab nifty in dip. If nifty 5800 call open interest decreased tomorrow and 5800 put OI increased in intraday day session then long trade can be carry forward above 5770 spot price. If 5800 call price increased with price rising then book profit. 

FOR STOCKS LOVER

BUY TATA STEEL 

AROUND 383 STOP LOSS  WOULD BE AT 363 AND TARGET WOULD BE AT 423- 433. CURRENT PRICE IS TRADING AROUND 398 WAIT FOR 15 POINTS MORE DOWNFALL AND GRAB THERE.

INTRADAY UPDATE

NIFTY FUTURE 5750-5760 IS RESISTANCE ZONE. IF NIFTY FUTURE CLOSE ABOVE THIS RESISTANCE ZONE NO PROBLEM FOR BULLS. IF NIFTY FUTURE CLOSE BELOW 5710 NO PROBLEM FOR BEARS.

NIFTY X-RAY REPORT FOR 06 NOV

NIFTY FUTURE TOOK SUPPORT EXACT AT MY PROJECTED LEVEL 5710 AND REVERSED FROM THERE. ON FRIDAY IT TRADE ABOVE THIS LEVEL AND NIFTY GAVE RESPECT THE SAME LEVEL. AS NIFTY FUTURE CLOSED LITTLE ABOVE THE PREVIOUS CLOSE SO THERE IS NOT TO MUCH CHANGING IN TECHNICAL SIGNAL. NIFTY RESPECTED 5710 LEVEL THEREFOR 5710 SHOULD ASSUME AS STRONG SUPPORT IN NEAR TERM.

NIFTY 5700 PUT ADDED 603,650 FRESH SHARES IN OPEN INTEREST. THIS OPTION DATA IS ALSO GIVING SUPPORT AROUND 5700 LEVEL.

FII SOLD INDEX FUTURE WORTH RS 120.35 CORES AND OPEN INCREASED BY 0.6% SO PARTIAL PROFIT BOOKING SEEN IN TODAYS TRADE BY FIIS.

UNTIL NIFTY FUTURE HOLD 5710 LEVEL THERE IS NO WORRIES FOR BULLS. IF NIFTY FUTURE COME BELOW THIS LEVEL THEN IT MAY KISS 5675-80 AND I THINK THAT LEVEL WILL BE GOOD LEVEL WHO MISSED TO ENTER AT LOWER LEVEL IN NIFTY.

AS I HAVE TOLD YOU AROUND 5217 LEVEL THAT GRAB NIFTY AGAIN I AM SAYING THAT GRAB NIFTY IN DIP IF COME AROUND 5675-80.

PUT CALL RATIO INCREASED FROM 1.07 TO 1.10 GIVING FAVOR TO BULLS.

TWO CONSECUTIVE CLOSE ABOVE 5750 FUTURE LEVEL WE MAY SEE ONCE MORE BLASTING RALLY. 

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NIFTY X-RAY REPORT FOR 05 NOVEMBER

NIFTY SPOT CLOSED AT 5697.70 AND NIFTY FUTURE CLOSED AT 5739.55 WITH 41.9 POINTS PREMIUM IN CURRENT SERIES. NIFTY CLOSED ABOVE ITS FALLING TREND LINE WHICH COMES AROUND 5675. IF NIFTY SUSTAIN TOMORROW ABOVE THIS TREND LINE THEN WE CAN EXPECT MORE UP SIDE RALLY UP TO 5775 LEVEL IN NEXT TWO DAYS.

NIFTY 5700 PUT ADDED 797,550 SHARES IN OPEN INTEREST AND 5700 CALL DECREASED 884,100 CONTRACTS FROM OPEN INTEREST WHICH INDICATES THAT 5700 LEVEL IS READY TO GIVE STRONG SUPPORT NIFTY. 

FIIs BOUGHT INDEX FUTURE WORTH RS 702.43 CORES AND TOTAL 7.9% FRESH OPEN INTEREST ADDED IN CURRENT MONTH, INDICATING THAT FRESH LONG POSITION HAS BEEN ADDED INTO THE MARKET ON FRIDAY SESSION.

NOW LETS TALK ABOUT THE CHART. DOJI CANDLESTICK PATTERN HAS FORMED ON NIFTY EOD CHART. AS PER NIFTY RSI AND SLOW STOCHASTIC INDICATING THAT INDICATORS HAS TURNED UPSIDE AND GIVING BUY SIGNALS ON EOD CHART. I HOPE THAT PRICE IF SUSTAIN ABOVE THIS TREND LINE MAY HIKE UP TO 5950 IN COMING TIME IN THIS MONTH.

VERY SHORT TERM TRADERS MAY KEEP THEIR POSITION TOWARDS LONG SIDE WITH STOP LOSS AT 5710 NIFTY FUTURE LEVEL, AND MID TERM TRADERS MAY KEEP STOP LOSS AT 5685