:: Market Today ::
Nifty declined in choppy trade, mimicking volatile European stocks. Reports that rains were 24% below normal in the week to 14 July 2010, also weighed on sentiments. The market breadth was negative in contrast to a strong breadth witnessed earlier in the day. FMCG and IT stocks rose. But, capital goods and realty stocks fell. Auto stocks were mixed.
After initial volatility, the market moved in a range in morning trade. The market came off lows in mid-morning trade. But, the intraday recovery proved short-lived - the market weakened in early afternoon trade. Selling intensified in afternoon trade as European markets opened lower. The Sensex hit a fresh intraday low in afternoon trade. The market came off the lower level later. The market recovered sharply and regained positive territory in mid-afternoon trade as European stocks recovered. The market once again slipped into the red later.
In short Today Nifty witnessed correction, as we told momentum seems strong Nifty managed to range bound near Resistance levels. We told If Nifty holds 5350-5340 today than traders should not go for Shorting for any more downside, hope you have not kept your short position open.
:: FII Activity ::
FII activity in Equity Rs. +569.24 Cr. as on 14th July 2010
FII activity in Nifty Rs. -429.53 Cr. as on 14th July 2010
Foreign funds continue to mop up Indian stocks. Foreign funds have bought Indian equities worth a net Rs 4023.53 crore this month so far, till 14 July 2010, as per data from the stock exchanges. Foreign funds had pumped in Rs 7713.97 crore in equities in June 2010
Domestic funds have sold shares worth a net Rs 1488.52 crore this month so far, till 14 July 2010. They had sold equities worth a net Rs 4777.05 crore in June 2010.
:: Trend Decider Level ::
Good Above 5386 and Weak Below 5354
:: Todays PreMarket Trades ::
Uptrend
Buy above 5386 with StopLoss 5366
1st Target 5406 (Achieved)
2nd Target 5426 (Not Came)
For Risky Traders
(If opens flat and comes down but holds 5350)
Buy around 5360 with StopLoss 5340 Target 5384 (Achieved)
For Risky Traders
(If opens Flat and cant cross 5400)
Sell below 5378 with StopLoss 5398 1st Target 5358 (Came till 5362 but SL HIT)
:: Positional Nifty Alert ::
Given BUY around 5230 with SL 5180-65 to NEW-or-Fresh Positional Investers for Target 5542-5600 in July Expiry. Please Revise your Stoploss to 5330 as of Now.
:: PLEASE NOTE ::
Dont get panic in volatile sessions like yesterday, wait and watch is the best stratagy in such market condition. As we say always we are not compulsive traders. We give trades for Intraday Traders that does not mean we trade daily. We do remind you about our philosophy mentioned in WHO can NOT Join Us page. Please go through us before Joining Us.
:: Remember Always ::
We suggest to keep at least 1% of its price as SL in All Equity Stocks.
All our levels mentioned are of Future Nifty not Spot Nifty.
All PreMarket and Live Trades are for Intraday Trading only.
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...WISHING YOU A VERY HAPPY TRADING...
