1.Always do your analysis before trading.
2.Always have a clear and reasonable idea of your objective.
3.Never trade on emotions or other people’s forecasts.
4.Buy at support and sell at resistance.
5.Always trade with “STOP LOSS”.
6.Never hold a losing position over night.
7.Never add to a losing position.
8.Never risk more than 5 % of your trading capital on one trade.
9.Take responsibility for your own trades.
10.If you are breaking any of the above rules … STOP TRADING… because you are out of control.
Wednesday, June 30, 2010
Fear of Double dip Recession looms large
Major Stock averages in the west closed sharply lower on Tuesday as sagging US Consumer confidence number coupled with weak Economic indicators from China reignited concerns over the recovery in Global economy. All key stock indices in Asia are trading in the red today morning.
On the home front too, The NSE Nifty is expected to witness an acute dip following the weak global sentiments. The Critical Support for the day is seen at 5194 and Nifty stays above this, then it may manage to arrest further down-fall. The first Resistance comes at 5236 and if it crosses-over this hurdle, we may see some positive momentum towards the Major Resistance at 5278. However if global cues remain weak, lower to the Critical Support, we may see another round of sell-off which may drag the index towards the Major Support at 5160. Below this, panic selling may push Nifty towards its Short-term Support at 5130.
Stock markets in the US declined sharply on Tuesday as lower than expected Consumer confidence data in US and weak Chinese economic indicators renewed global economic concerns. The Dow Jones industrial average dropped 2.7%. The Nasdaq composite fell 3.9% and The S&P 500 slid 3.1%.
European stock markets too fell as investors were worried regarding the expiry of the ECB's $500 Bln funding program on Thursday and as fears grew that the global recovery is fading. UK’s FTSE 100 dropped 3.1%; Germany’s DAX 30 fell 3.3% and France’s CAC 40 slumped 4%.
Crude Oil prices too slipped around 3% due to downbeat data on the Chinese and US economies. Currently it is trading near the $75 per barrel level. Base metals like Copper, Aluminum and Zinc too slumped around 3 to 5% due to growth concerns.
Asian markets are trading lower. China's Shanghai Composite dipped 1.20%, Hong Kong's Hang Seng fell 0.90%, Japan's Nikkei 225 shed 2.10% and Singapore's Straits Times reduced 0.65%.
On the home front too, The NSE Nifty is expected to witness an acute dip following the weak global sentiments. The Critical Support for the day is seen at 5194 and Nifty stays above this, then it may manage to arrest further down-fall. The first Resistance comes at 5236 and if it crosses-over this hurdle, we may see some positive momentum towards the Major Resistance at 5278. However if global cues remain weak, lower to the Critical Support, we may see another round of sell-off which may drag the index towards the Major Support at 5160. Below this, panic selling may push Nifty towards its Short-term Support at 5130.
Stock markets in the US declined sharply on Tuesday as lower than expected Consumer confidence data in US and weak Chinese economic indicators renewed global economic concerns. The Dow Jones industrial average dropped 2.7%. The Nasdaq composite fell 3.9% and The S&P 500 slid 3.1%.
European stock markets too fell as investors were worried regarding the expiry of the ECB's $500 Bln funding program on Thursday and as fears grew that the global recovery is fading. UK’s FTSE 100 dropped 3.1%; Germany’s DAX 30 fell 3.3% and France’s CAC 40 slumped 4%.
Crude Oil prices too slipped around 3% due to downbeat data on the Chinese and US economies. Currently it is trading near the $75 per barrel level. Base metals like Copper, Aluminum and Zinc too slumped around 3 to 5% due to growth concerns.
Asian markets are trading lower. China's Shanghai Composite dipped 1.20%, Hong Kong's Hang Seng fell 0.90%, Japan's Nikkei 225 shed 2.10% and Singapore's Straits Times reduced 0.65%.
Friday, June 25, 2010
Forex, Currency update
Pair Open High Low LTP Net Change % Change
EURUSD 1.2336 1.2361 1.2262 1.2335 -0.0067 -0.54
GBPUSD 1.4924 1.4991 1.4874 1.4923 -0.0024 -0.16
USDJPY 89.61 89.77 89.4 89.61 -0.01 -0.01
USDCHF 1.1017 1.1047 1.0992 1.1016 0 0.00
EURUSD 1.2336 1.2361 1.2262 1.2335 -0.0067 -0.54
GBPUSD 1.4924 1.4991 1.4874 1.4923 -0.0024 -0.16
USDJPY 89.61 89.77 89.4 89.61 -0.01 -0.01
USDCHF 1.1017 1.1047 1.0992 1.1016 0 0.00
Oil price hike
The empowered group of ministers (EGoM) today decided to deregulate petrol and diesel prices. However, for now, diesel prices have only been increased by Rs 2. The hike in petrol prices would be close to Rs 3.5.Kerosene prices, untouched since 2002, have been hiked by Rs 3 while the cost of an LPG cylinder would go up by Rs 35 per cylinder. The government currently gives a subsidy of Rs 262 per cylinder.
Saturday, June 12, 2010
Indian market trend for the coming weeks
INDIAN MARKET TREND IS NOT WEAK . BUT NOT ENOUGH FUEL TO RALLY ....
BUT IF GLOBAL MARKET SUPPORTS AND INFLATION DATA COMING WEEK IS GOOD(90% NO CHANCE) CHANCES ARE THERE TO BREAK 5200 LEVEL BUT VERY VERY HARD FOR OUR MARKET TO STAY THERE
INDIAN MARKET MAY HAVE SOME HUGE GOOD NEWS AND RESULTS BUT THE FACT IS WE TOTALLY DEPEND ON GLOBAL MARKET & ECONOMY UNLESS GLOBAL ECONOMY SETTLED THERE IS NO BULL RUN ONLY CHANCE FOR BEAR TO HIT @ HIGHER LEVEL
THERE IS NO ANY FRESH LONG POSITION AS OF NOW . SHORT COVERING AND SMALL RALLY IN SOME SECTOR HELPING INDEX TO BE IN GREEN ON Friday .
ONE HAS TO WAIT UNTIL MARKET EDGE HIGHER WITH CLEAR TO TAKE LONG POSITION TILL THEN SHORT @ HIGHER LEVEL
BUT IF GLOBAL MARKET SUPPORTS AND INFLATION DATA COMING WEEK IS GOOD(90% NO CHANCE) CHANCES ARE THERE TO BREAK 5200 LEVEL BUT VERY VERY HARD FOR OUR MARKET TO STAY THERE
INDIAN MARKET MAY HAVE SOME HUGE GOOD NEWS AND RESULTS BUT THE FACT IS WE TOTALLY DEPEND ON GLOBAL MARKET & ECONOMY UNLESS GLOBAL ECONOMY SETTLED THERE IS NO BULL RUN ONLY CHANCE FOR BEAR TO HIT @ HIGHER LEVEL
THERE IS NO ANY FRESH LONG POSITION AS OF NOW . SHORT COVERING AND SMALL RALLY IN SOME SECTOR HELPING INDEX TO BE IN GREEN ON Friday .
ONE HAS TO WAIT UNTIL MARKET EDGE HIGHER WITH CLEAR TO TAKE LONG POSITION TILL THEN SHORT @ HIGHER LEVEL
HUL buy back
HUL buyback at Rs 280/share
Buyback up to an aggregate amount of Rs 630 crore; offer at 11% premium to Friday's close
EXPECTED OPENING ON MONDAY is 260- 270
Buyback up to an aggregate amount of Rs 630 crore; offer at 11% premium to Friday's close
EXPECTED OPENING ON MONDAY is 260- 270
Tuesday, June 1, 2010
Day Trading Calls
BUY Wipro for 1 day. Target price 683
BUY Sun TV Network for 1 day.
SELL Nirma for 1 day.
BUY UCO Bank for 1 week. Target price 80.50. Stop Loss 74
BUY Gujarat NRE Coke for 1 week. Target price 66.50. Stop Loss 61
BUY Sobha Developers for 1 week. Target price 307. Stop Loss 291
BUY Sun TV Network for 1 day.
SELL Nirma for 1 day.
BUY UCO Bank for 1 week. Target price 80.50. Stop Loss 74
BUY Gujarat NRE Coke for 1 week. Target price 66.50. Stop Loss 61
BUY Sobha Developers for 1 week. Target price 307. Stop Loss 291
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