Stock Trading Tips & Market News – 12 July 2010
Stock Market Pre-Opeping Outlook: As per my review, Nifty opened with positive biased and had made high of 5359 above 50 points from last close. Market was almost flat in mid session but with good support from EU markets helped market to close above 5350 level which is above psychological level of 5350. Credit Ss. upgraded Telecom companies status from Sell to Outperform and that pulled market really high. IDEA and Bharti airtel was nearly 10-12% up. Many stocks like RCom, Shyam Tele, Punjab Communication etc.. DOW and NASDAQ closed with 1% gain after choopy positive biased start on friday. Today, nifty should open above 5357 level and that will market to cross 5380 level in intraday trading. We are Long (Short Term only) from 5240-5260 levels in nifty for target 5350 and 5393 levels. I am expecting Nifty to cross 5400 psycological level this week where you need to book all longs in nifty. In july series nifty will reach 5460 levels at maximum and then it should show some consolidation. After that point, Indian market will again show some what dependancy on Global markets. I am bullish for short term trend but not for long run for 3-4 months from here. US and EU markets are showing great recovery and that is to be watched closely. Nothing is all set to grow rapidally though world growth is set to 4.5% by IFM but there is still some room for correction. I am seeing chiense market correcting to 8 -11% in coming months.
- Nifty Position: Who is still holding LONG in nifty, Shud hold for target 5420-5460 (I mentioned that in July review post)
- Nifty Range: Above 5357 Resistance 5380, 5393, 5407 Support 5340, 5310, 5265
- Weekly Future Stocks
- DLF: Should cross 310 level
- Reliance: Should cross 1090 and if market is too bullish then 1100 is on card this week.
- IDFC: Long waited target 190 on card
- IFCI: 5-6% Profit
- Option Players:
- Buy Nifty 5400 CALL with SL 42 Target above 83, 89
- Buy IDFC 190 CALL @ 3.5-4 with SL of 2 for Target of 6-9
- Buy Reliance 1080 CALL @ 16-17 with SL of 10 for target price 25, 32
- Buy Shree Renuka Sugar 75 CALL @ 1.8-2.5 for Target 7, 10 with Sl of 1.5
- Stocks to watch today: JK Tyre, Steel Strips, Gitanjali Gems, Dena Bank, Ace India Ltd., Titagruh Wagons
- Weekly Sector to watch : POWER (Torrent Power, Cummins India, PTC, KEC International are my hot picks) and SUGAR(Shree Renuka, EID Perry, Triveni Engg. and Sakthi Sugar)
- Remember my trading basket: Finance Basket 2
10 Comments on “Stock Trading Tips & Market News – 12 July 2010”
Guys, My all targets in nifty achieved…5310, 5350, 5380, 5393 and 5400 also in a 6 days span.
JK Tyre: up 3-4%
Steel Strip: made high of 5-6% and trading 3% up
Gitanjali made high of 2% and now trading with 1% losses
Dear Visitor,
Market is showing some good move. Nifty traders are now confused if they should go short in Nifty from current level of 5400 or should go further long. NSE and BSE are the two major stock exchanges of Indian stock market.
IDFC made high of 191 . My target achieved
1. Weekly Future - DLF: crossed 310 (Target Achieved) - IDFC: crossed 190 (Target Achived) – Hold for 195 - IFCI: crossed 61 (Target Achived) - Reliance: Crossed 1070 (Hold for 1090 Target in next 3-4 days)2. Weekly Option - Nifty 5400 @ 42 (Target Achieved) - IDFC CALL 190 @ 3.5-4 (made high of 6.05 today – Target achived) - Reliance CALL 1080 @ 16-17 (MAde high of 19.7 today – Target not achieved – But will be in 3-4 days)- Shree Renuka Sugar CALL 75 (SL Hit but will go up again)
Dear Visitor,
Market is showing some good move. Nifty traders are now confused if they should go short in Nifty from current level of 5400 or should go further long. NSE and BSE are the two major stock exchanges of Indian stock market.
Keeping in mind that many investors and traders are very much confused with the current market move, we have stared posting Free technical research reports
. These reports are highly accurate and are available for free.
Regards
BUZZINGSTREET
Stock market investment if done with proper research and updated knowledge than it can give very lucrative results. There are four basic golden rules of stock market which are to be followed
(thebuzzingstreet1@gmail.com)http://www.buzzingstreet.com
We will be discussing the various benefits of speed trading and its various coefficients using which one can make the most out of their investments in the Indian stock market including both Nifty and Sensex (NSE and BSE)
Your blog has upto date information about stock trading. Thanks for sharing your thoughts.
Dear Visitor,
Market is showing some good move. Nifty traders are now confused if they should go short in Nifty from current level of 5400 or should go further long. NSE and BSE are the two major stock exchanges of Indian stock market. Keeping in mind that many investors and traders are very much confused with the current market move, we have stared posting ” title=”technical research reports”> technical research reports These reports are highly accurate and are available for free.
Regards
Stock market investment if done with proper research and updated knowledge than it can give very lucrative results. There are four basic golden rules of stock market which are to be followed. (thebuzzingstreet1@gmail.com)www.buzzingstreet.com
Nifty is on its peak now and is turning volatile. Investors are suggested to book long delivery positions soon. As after some more upmove we can see profit booking in the market soon. Investors are suggested to grab quality stocks at lower level again.
Hey,Current stock market conditions are not favorable for safe investors. Market is trading highly volatile. Never ignore using stoploss while doing stock market trading.Day traders should keep very close eye on Nifty and its important levels so that traders can earn money rather than losing it.
Keep posting Buzzingstreet