Tuesday, January 3, 2017

morning thoughts...

As said and expected the markets swinged like a pendulum with exactly the same strategy panning out with buy on dips and sell on rallies.
Nifty and bank nifty took supports at the exact levels mentioned and reacted from the resistance levels with individual stocks being in action and the same pattern is likely to continue in the coming session with markets feeling pressure at higher levels.
On the lower side important supports exists for markets at 8130 and crucial supports at 8070 levels whereas stiff resistance is witnessed at 8225 and 8270 levels.
Bank nifty is likely to find crucial supports at 17900 levels and 17769 levels and resistance at 18200 and 18369 levels.
Dollar index moves strong with pcr at 1.05 levels , the index reacted from the 60 day moving average to take supports at the daily moving average at converge macd
The derivatives data shows disperse pattern with negative fii inflow and very small dii initiative.
Globally and domestically lots of events are lied up which will keep markets volatile and swinging , sectoral moves will be seen with pharma seeing some positive bias , auto will face some pressure with individual stocks moving up in the sector , oil and gas will attract buying at lower levels as crude continues to move up in fast few days and still looks strong.
Banking and financial have become weak after a series of announcements and pressure can be seen on certain private and psus.
Mercury and venus are converge with jupiter onset to bring big and volatile moves ahead trapping traders 
Coming to commodity markets positive trades are likely to be witnessed in bullions , base metals and energy

Yesterdays calls sent

Magnificent start to the year with profits above 1 lac in all segments

In a volatile and fringy day nifty yields above 50 points
Bank nifty gives 200 points
Fo dlf gives 5 rs
Fo tata steel gives 18 rs
Maruti call option doubles
Hdfc put option doubles