BANKNIFTY VIEW

BANKNIFTY SPOT has made a Falling Wedge Pattern, which is Bearish Pattern. 

On 17th Sept, 2021, BNF made a lifetime high of 38211, which was again retested, but couldn't maintained. 

It's a caution note for Bulls, unless 38211 is crossed on Closing Basis. 

BNF if gives a breakdown, may witness 37500/37320 levels.

NIFTY VIEW

NIFTY SPOT has formed a Pennant in 15 mins Chart. 

Pennants are generally a continuation pattern. 

Here, it also seems that after a small consolidation, 

NIFTY may give a breakout and reach the levels of 18010/18185 in coming sessions. 

Near term support comes at 17800 levels.

Nifty Outlook for 26th April 2013

Yesterday, NIFTY made a Long White Candlestick Pattern, signaling a normal buying pressure and the buyers were in control throughout the day. The April series Futures and Options contract settlement turned out to be an encouraging event for the Indian markets as bulls showed strong buying fervor blue chip stocks. Hefty short covering in the dying hours ahead of the series expiry further stoked the benchmarks to settle around the high point of the day. NIFTY made a strong positive opening of almost 20 points. The NSE’s 50-share broadly followed index NIFTY gained by about 80 points to surpass its psychological 5,900 support level, and marked a high of 5924.60. The broader markets too traded with traction and ended the session in the green. Sentiments also remained upbeat as investors expect that the Reserve Bank of India will cut interest rates by 25-50 basis points on May 3, 2013 in its monetary policy meet as WPI inflation eased to 3-year low in March. Markets also remained in comfort zone after the Finance Ministry has pitched for rating upgrade with Standard & Poor’s. At present, India has a sovereign rating of ‘BBB-’ which is the last investment grade. Last August, the rating agency revised the outlook on India’s long-term credit rating to ‘negative’ from ‘stable’. AUTO, HEALTHCARE & PHARMA, OIL & GAS, METAL and BANKING & FINANCE Sectors again helped NIFTY to push southwards. Whereas, IT, RELATY & INFRA and CONSUMER DURABLES Sectors were on the down side. Finally, for the day, NIFTY closed at 5916.30, maintaining the levels of 5900 to march ahead in the forth-coming sessions.

Technically, a Fibonnaci Retracement Level is being drawn from the Low of 4770.35 (04^th June, 2012) to the High marked 6111.80 by NIFTY (29^th January, 2013). NIFTY made a high of 5924.60 on 25^th April, 2013 and surpassed the levels of 5795.22 (23.60% Level of Retracement) on closing basis after getting closed at 5916.30 levels. Now, the level of 5795.22 (23.60% Level of Retracement) is acting as the next immediate support level to be tested by NIFTY. It has been on the northwards march since it has given a breakout above the trendline marked from the high of 6111.80 (29^th January, 2013).

NIFTY has now crossed all its moving averages of 20-Days EMA (Exponential Moving Average), 50-Days SMA (Simple Moving Average) and 200-Days SMA since 18^th April, 2013 on closing basis and also the 20-days EMA has crossed the 200-Days SMA from downside, which is again another Bullish Signal. Now, it is also on the verge to cross the 50-Days SMA. When a Short Term Moving Average crosses a Longer Term Moving Average from downside, it is considered to be a Bullish Signal. As predicted earlier – “Now, the level of 5850/5890 can be touched by NIFTY if it sustains above 5680”. NIFTY marked a high of 5924.60 yesterday and even closed above the levels of 5900. Now, if NIFTY sustains above the levels of 5765, levels of 6000/6050 are on the cards.

As, Earnings Season has begun all over the Globe, some of the Quarterly Earnings on which focus has to be given are:

FRANCE: Alcatel Lucent SA and Total SA.

U.S.: The Goodyear Tire & Rubber Co.

INDIA: Castrol India, Hero MotoCorp, ICICI Bank, Indiabulls Power, Jindal South West Holdings, LIC Housing Finance, Maruti Suzuki, Mastek, Merck, Raymond, Siemens, Sterlite Tech, and Vijaya Bank.

Some of the Economic Happenings on which a Glance is necessary are:

CHINA: MNI Business Sentiment Indicator for the month of April.

JAPAN: BoJ Interest Rate Decision.

EUROPE: Import Price Index for the month of March (MoM) & (YoY), Consumer Confidence for the month of April, M3 Money Supply and Private Loans for the month of March.

U.S.: Q1 Gross Domestic Product, Personal Consumption Expenditure Prices and Reuters / Michigan Consumer Sentiment Index for the month of April.

Small and quick profits should be booked either on Short side or on Long side. Traders are suggested to trade cautiously by following Strict Stop Losses and Booking Fast Profits, whereas, Investors are suggested to make good use of their money and hunt on for Jewels which are right now trading either at their 52-week’s low level or at the life time low levels. 

What does Indicators Say?  

                                        

1. RSI (14 Days & 9 Days): The values are 65.74 and 53.93, respectively. The indicator is now heading towards its Overbought Zone. 

2. MACD (26 Days & 12 Days): Their Values are 11.31 and 63.23, respectively. The indicator is now is now heading towards its Overbought Zone.  

3. +DI: 35.40, -DI: 18.19, ADX: 23.93: The Positive Directional Index has moved above the Negative Directional Index, signaling a Buyer's bias Market movement and the Average Directional Index is above 20 and below 25, indicates that the market is in a Gray Zone.  

4. SMA (200 Days), SMA (50 Days) & EMA (20 Days): NIFTY is now trading above all its Moving Averages, on the closing basis. The 20-Days EMA (Exponential Moving Average), 200-Days SMA and 50-Days SMA (Simple Moving Average) are trading at 5715.37, 5670.37 and 5765.59 levels, respectively. 

Some Trading Stats of Thursday’s (25^th April, 2013) Trading Session:

Net Buying of Rs. 1449.70 Crore in NSE, BSE and MCX-SX in Capital Market Segment by FIIs and Net Selling of Rs. 1269.43 Crore in NSE, BSE and MCX-SX in Capital Market Segment by DIIs was witnessed on Thursday’s Trading Session.

NIFTY APR FUTURE ended at a Discount of 6.25 Points to the Spot NIFTY.

Trading Levels for some of the NIFTY 50 Stocks for TODAY:

STOCKS*	LEVELS	SL	TGT 1	TGT 2
ACC	1255	1245	1275	1290
BAJAJ-AUTO	1845	1830	1870	1880
BANKBARODA	712	704	726	730
CAIRN	300	297	306	308
CIPLA	410	406	420	422
COALINDIA	318	315	324	327
GRASIM	2990	2960	3045	3080
M&M	912-914	905	932	936
TATASTEEL	313-314	310	322	325
DLF	242-241	243	236	234
HCLTECH	718	725	704	700

* BLUE = BUY  RED = SELL

For the day, intraday resistance for NIFTY (SPOT) comes at 5945 / 5975 / 6000 levels. At the same time, 5880 / 5850 / 5820 will act as major intraday support levels.

For the day, intraday resistance for NIFTY (FUTURE) comes at 5930 / 5955 / 5980 levels. At the same time, 5890 / 5860 / 5830 will act as major intraday support levels.

For the day, intraday resistance for BANK NIFTY (FUTURE) comes at 12800 / 12900 / 13000 levels. At the same time, 12620 / 12500 / 12400 will act as major intraday support levels.

Nifty Outlook for 23rd April 2013

Yesterday, NIFTY made a Short White Candlestick Pattern, signaling a relatively weak buying pressure with little price movement. NIFTY made a flat start for the trading session and with the extension of trading session, NIFTY also extended its gains and marched towards the levels of 5844.85 (day’s high), surpassing crucial resistance level of 5800, but it could not cross the crucial resistance mark of 5850 neither in intraday nor on closing basis. A bit of profit booking was witnessed in the Markets, which dipped the NIFTY to 5815 levels, maintaining the level of 5800, supported by buying in CAPITAL GOODS and METAL & MINING Counters. After a cautious start, markets soon entered into green terrain with investors turning optimistic after data showed that foreign funds remained net buyers of Indian stocks on April 18, 2013. Foreign institutional investors (FIIs) bought shares worth a net Rs 940.07 crore on Thursday. Buoyed by firm global cues, key domestic benchmarks showcased an enthusiastic performance on first day of F&O expiry week of April series. NIFTY conquered its crucial 5,800 bastion, hitting its highest level in almost five weeks, supported by rally in Rate Sensitive Sectors such as BANKING, RELATY & INFRA and AUTO amid hopes that the central bank would ease monetary policy more aggressively next month to boost growth into the Asia’s third-biggest economy. Other major gainers were the POWER and FMCG Sectors, while IT Sector was the lone loser for the day. Finally, for the day, NIFTY closed at 5834.40, maintaining the levels of 5800 on the downside.

Technically, a Fibonnaci Retracement Level is being drawn from the Low of 4770.35 (04^th June, 2012) to the High marked 6111.80 by NIFTY (29^th January, 2013). NIFTY made a high of 5844.85 on 22^nd April, 2013 and surpassed the levels of 5795.22 (23.60% Level of Retracement) on closing basis after getting closed at 5834.40 levels. Now, the level of 5795.22 (23.60% Level of Retracement) is acting as the next immediate support level to be tested by NIFTY.

NIFTY has now crossed all its moving averages of 20-Days EMA (Exponential Moving Average), 50-Days SMA (Simple Moving Average) and 200-Days SMA since 18^th April, 2013 on closing basis and also the 20-days EMA is on the verge of crossing the 200-Days SMA from downside, which is again another Bullish Signal, confirmation of which has been attained yesterday on the charts. When a Short Term Moving Average crosses a Longer Term Moving Average from downside, it is considered to be a Bullish Signal. Now, the level of 5850/5890 can be touched by NIFTY if it sustains above 5680.

As, Earnings Season has begun all over the Globe, some of the Quarterly Earnings on which focus has to be given are:

U.S.: Xerox Corp, Delta Air Lines Inc, Apple Inc and Hanesbrands Inc.

INDIA: AP Paper, ASSAMCO, Binani Industries, Coromandel International, HDFC Bank, Indiabulls Securities and Mahindra & Mahindra Finance.

Some of the Economic Happenings on which a Glance is necessary are:

CHINA: HSBC Manufacturing PMI for the month of April.

EUROPE: Business Climate, Markit Manufacturing PMI and Markit Services PMI, Consumer Confidence for the month of April,  Trade Balance non-EU for the month of March and House Price Index for Q1 (QoQ).

U.S.: Retail Sales for the month of February (MoM), Markit Manufacturing PMI for the month of April, Housing Price Index for the month of February and New Home Sales for the month of March (MoM).

Still, for the overall market a very cautious approach of TRADING is recommended, as INDIA is facing Political Uncertainty as well Fund Outflow from FIIs through ETFs and even Global Economic Scenario is again getting worsen, whether it be EUROPE or The U.S. Small and quick profits should be booked either on Short side or on Long side. Traders are suggested to trade cautiously by following Strict Stop Losses and Booking Fast Profits, whereas, Investors are suggested to make good use of their money and hunt on for Jewels which are right now trading either at their 52-week’s low level or at the life time low levels. 

What does Indicators Say?  

                                        

1. RSI (14 Days & 9 Days): The values are 60.98 and 48.43, respectively. The indicator is now heading towards its Overbought Zone. 

2. MACD (26 Days & 12 Days): Their Values are 63.68 and 84.94, respectively. The indicator is now is now heading towards its Overbought Zone.  

3. +DI: 32.18, -DI: 20.70, ADX: 23.42: The Positive Directional Index has moved above the Negative Directional Index, signaling a Buyer's bias Market movement and the Average Directional Index is above 20, indicates that the trend of the market is strengthening. 

4. SMA (200 Days), SMA (50 Days) & EMA (20 Days): NIFTY is now trading above all its Moving Averages, on the closing basis. The 20-Days EMA (Exponential Moving Average), 200-Days SMA and 50-Days SMA (Simple Moving Average) are trading at 5679.20, 5664.54 and 5767.37 levels, respectively. 

Some Trading Stats of Monday’s (22^nd April, 2013) Trading Session:

Net Buying of Rs. 915.82 Crore in NSE, BSE and MCX-SX in Capital Market Segment by FIIs and Net Selling of Rs. 442.54 Crore in NSE, BSE and MCX-SX in Capital Market Segment by DIIs was witnessed on Monday’s Trading Session.

NIFTY APR FUTURE ended at a Discount of 1.55 Points to the Spot NIFTY.

A view on some of the NIFTY 50 Stocks for TODAY:

BPCL:               Can touch the levels of 422/425, if crosses the level of 415.

COALINDIA:      Can touch the levels of 320/322, if crosses the level of 313.

DLF:                 Can touch the levels of 258/260, if crosses the level of 252.

GRASIM:            Can touch the levels of 2880/2890, if crosses the level of 2840.

HEROMOTOCO: Can touch the levels of 1550/1560, if crosses the level of 1530.

HINDALCO:       Can touch the levels of 97.60/98.20, if crosses the level of 95.70.

JINDALSTEL:     Can touch the levels of 350/352, if crosses the level of 342-343.

LT:                  Can touch the levels of 1555/1565, if crosses the level of 1540.

RELINFRA:        Can touch the levels of 392/395, if crosses the level of 384.

TATASTEEL:     Can touch the levels of 315/320, if crosses the level of 308.

AXISBANK:        Can dip to the levels of 1415/1405, if breaches the level of 1430.

HCLTECH:         Can dip to the levels of 705/700, if breaches the level of 720.

For the day, intraday resistance for NIFTY (SPOT) comes at 5850 / 5880 / 5915 levels. At the same time, 5820 / 5795 / 5775 will act as major intraday support levels.

For the day, intraday resistance for NIFTY (FUTURE) comes at 5850 / 5880 / 5925 levels. At the same time, 5815 / 5790 / 5760 will act as major intraday support levels.

For the day, intraday resistance for BANK NIFTY (FUTURE) comes at 12650 / 12740 / 12820 levels. At the same time, 12400 / 12320 / 12250 will act as major intraday support levels.

Pre Market Calls:

ADANIENT: Buy ONLY IF IT TRADES ABOVE 225 for the TARGETS of 230/232, with the STRICT SL of 222.

GESHIP: Buy ONLY IF IT TRADES ABOVE 215 for the TARGETS of 220/224, with the STRICT SL of 212.50.

Nifty Outlook for 22nd April 2013

On Thursday, NIFTY made a White Opening Marubozu Candlestick Pattern, signaling that the day opened and then the prices continued to go up all day long without coming below the opening level thus forming a long white body, however prices did not close at the high of the day and thus they created an upper shadow. It was a typical bull day and strength of the bulls is enough to cause some concern among the bears. NIFTY made a flat start for the trading session on Thursday. With the extension of trading session, NIFTY also extended its gains and marched towards the levels of 5794.35 (day’s high), surpassing crucial resistance level of 5750. It didn’t even looked back for a while for even a bit of profit taking, as it has been gaining height since last three trading sessions. Investors continued to hunt for fundamentally strong but oversold stocks. Investor’s risk-appetite was firm after prices of global commodities such as Brent crude and gold slipped further, which will help to reduce the burgeoning current account deficit (CAD). Sentiments also got a boost after country’s trade data showed that the exports grew for the third month in a row, rising by 6.97% in March though on an annual basis it declined 1.76% to $300.6 billion in 2012-13. Exports in March increased to $30.8 billion compared to $28.8 billion in the same month of previous year. The robust move in NIFTY was again supported by the Rate Sensitive Sectors like, BANKING & FINANCE, REALTY & INFRA and AUTO. Rally in rate sensitive too buttressed the sentiments triggered by expectations that the Reserve Bank of India (RBI) will cut its key policy rate viz. the repo rate to boost growth amid slowing wholesale price inflation. Other gainers for the day were METALS & MINING and FMCG Sectors. Finally, for the day, NIFTY closed at 5783.10, maintain the levels of 5750 on the downside.

Technically, a Fibonnaci Retracement Level is being drawn from the Low of 4770.35 (04^th June, 2012) to the High marked 6111.80 by NIFTY (29^th January, 2013). NIFTY made a high of 5794.35 on 18^th April, 2013 and surpassed the levels of 5795.22 (23.60% Level of Retracement) in the intraday trading, but not on the Closing Basis. Now, the level of 5599.37 (38.20% Level of Retracement) is the next support level to be tested by NIFTY.

NIFTY has now crossed all its moving averages of 20-Days EMA (Exponential Moving Average), 50-Days SMA (Simple Moving Average) and 200-Days SMA on 18^th April, 2013 on closing basis and also the 20-days EMA is on the verge of crossing the 200-Days SMA from downside, which is again another Bullish Signal, confirmation of which is still awaited. When a Short Term Moving Average crosses a Longer Term Moving Average from downside, it is considered to be a Bullish Signal. Now, the level of 5850/5890 can be touched by NIFTY if it sustains above 5680.

As, Earnings Season has begun all over the Globe, some of the Quarterly Earnings on which focus has to be given are:

U.K.: Reckitt Benckiser Group PLC.

U.S.: Caterpillar Inc

INDIA: Cairn India, Mahindra Lifespace, Mindtree, Persistent Systems, Swaraj Engines, Tamilnadu PetroProducts, Tata Sponge, Ultratech Cement and Zensar Technologies.

Some of the Economic Happenings on which a Glance is necessary are:

EUROPE: Current Account for the month of February (YoY) and Consumer Confidence for the month of April, House Price Index.

U.S.: Existing Home Sales for the month of March (MoM)

Still, for the overall market a very cautious approach of TRADING is recommended, as INDIA is facing Political Uncertainty as well Fund Outflow from FIIs through ETFs and even Global Economic Scenario is again getting worsen, whether it be EUROPE or The U.S. Small and quick profits should be booked either on Short side or on Long side. Traders are suggested to trade cautiously by following Strict Stop Losses and Booking Fast Profits, whereas, Investors are suggested to make good use of their money and hunt on for Jewels which are right now trading either at their 52-week’s low level or at the life time low levels.

What does Indicators Say?  

                                        

1. RSI (14 Days & 9 Days): The values are 57.81 and 45.30, respectively. The indicator is now heading towards its Overbought Zone. 

2. MACD (26 Days & 12 Days): Their Values are 80.20 and 90.26, respectively. The indicator is now is now heading towards its Overbought Zone.  

3. +DI: 29.36, -DI: 21.87, ADX: 23.55: The Positive Directional Index has moved above the Negative Directional Index, signaling a Buyer's bias Market movement and the Average Directional Index is above 20, indicates that the trend of the market is strengthening. 

4. SMA (200 Days), SMA (50 Days) & EMA (20 Days): NIFTY is now trading above all its Moving Averages, on the closing basis. The 20-Days EMA (Exponential Moving Average), 200-Days SMA and 50-Days SMA (Simple Moving Average) are trading at 5662.87, 5661.77 and 5769.87 levels, respectively. 

Some Trading Stats of Thursday’s (18^th April, 2013) Trading Session:

Net Buying of Rs. 940.07 Crore in NSE, BSE and MCX-SX in Capital Market Segment by FIIs and Net Selling of Rs. 405.22 Crore in NSE, BSE and MCX-SX in Capital Market Segment by DIIs was witnessed on Thursday’s Trading Session.

NIFTY APR FUTURE ended at a Discount of 0.10 Points to the Spot NIFTY.

A view on some of the NIFTY 50 Stocks for TODAY:

ACC:                Can touch the levels of 1225/1235, if crosses the level of 1210.

AMBUJACEM:    Can touch the levels of 193.50/194, if crosses the level of 190.

AXISBANK:        Can touch the levels of 1450/1460, if crosses the level of 1430.

BHARTIARTL:    Can touch the levels of 306/310, if crosses the level of 300.

HINDALCO:       Can touch the levels of 96/96.20, if crosses the level of 94.

LT:                  Can touch the levels of 1510/1520, if crosses the level of 1480.

RANBAXY:        Can touch the levels of 465/470, if crosses the level of 455-456.

HCLTECH:         Can dip to the levels of 721/715, if crosses the level of 736.

For the day, intraday resistance for NIFTY (SPOT) comes at 5800 / 5820 / 5850 levels. At the same time, 5750 / 5720 / 5680 will act as major intraday support levels.

For the day, intraday resistance for NIFTY (FUTURE) comes at 5820 / 5850 / 5880 levels. At the same time, 5750 / 5720 / 5680 will act as major intraday support levels.

For the day, intraday resistance for BANK NIFTY (FUTURE) comes at 12370 / 12450 / 12530 levels. At the same time, 11925 / 11850 / 11780 will act as major intraday support levels.

For the week, resistance for NIFTY comes at 5850 & 5930 levels. At the same time, 5560 & 5475 will act as major support levels. 

Pre Market Call:

UCOBANK: Buy ONLY IF IT TRADES ABOVE 64.30 for the TARGETS of 66/66.80, with the STRICT SL of 63.50.

Nifty Outlook for 18th April 2013

Yesterday, NIFTY made a Short Black Candlestick Pattern, signaling as possible consolidation in the markets. NIFTY made a positive opening of almost 20 points, marking it above the levels of 5700. Till the first half of trading session, NIFTY maintained the levels of 5700 and traded above it marking a high of 5732.15 for the day. But in the second half of trading session, NIFTY reverted form its day’s high level and dipped to the day’s low of 5669. Rally in Rate Sensitive Counters like BANKING & FINANCE, REALTY & INFRA, AUTO and CEMENT cooled off a bit. Apart, from all these counters PHARMA Sector also witnessed a good Buying interest. IT Sector was the biggest loser for the day. Finally, for the day, NIFTY closed at 5688.70, just below the levels of 5700 and maintaining the support level of 5660. It was a kind of sluggish session, as buying interest was seen in only some of the Counters. On, the other hand a very volatile trading was being witnessed in the Broader Market.

Technically, a Fibonnaci Retracement Level is being drawn from the Low of 4770.35 (04^th June, 2012) to the High marked 6111.80 by NIFTY (29^th January, 2013). NIFTY made a high of 5699.25 on 16^th April, 2013 and surpassed the levels of 5599.37 (38.20% Level of Retracement). This level was acting as a very strong resistance for NIFTY on the closing basis, but now NIFTY has crossed it on closing basis. Now, the level of 5795 (23.60% Level of Retracement) is the next resistance level to be tested by NIFTY. The levels of 5441.08 (50.00% Level of Retracement) will now act as the immediate Support Level for NIFTY. NIFTY is now trading above its 20-Days EMA (Exponential Moving Average) and 200-Days SMA, but at the same time it is trading below its 50-Days SMA (Simple Moving Average) on the closing basis. NIFTY is now trading below all its Moving Averages.

As predicted earlier too, “The 20-Days EMA as well as the 200-Days SMA are acting as a good resistance for it right now on closing basis. Unless NIFTY closes above these levels with smart gains, even a short-term pull-back cannot be expected.” NIFTY has crossed these two averages on 16^th April, 2013 on closing basis and also the 20-days EMA is on the verge of crossing the 200-Days SMA from downside, which is again another Bullish Signal, confirmation of which is still awaited. When a Short Term Moving Average crosses a Longer Term Moving Average from downside, it is considered to be a Bullish Signal. Now, the level of 5800/5850 can be touched by NIFTY if it sustains above 5650, as predicted earlier – “NIFTY is range bound currently. 5600 – 5480 is the range in which it is trading between, a decisive move above or below this range will decide the direction of the market.”

As, Earnings Season has begun all over the Globe, some of the Quarterly Earnings on which focus has to be given are:

FRANCE: Carrefour SA and L’Oreal SA.

U.S.: Philip Morris International Inc, PepsiCo Inc, morgan Stanley, Ultratech Inc, Blackstone Group LP and Microsoft Corp.

INDIA: CRISIL, Essar Ports, Indusind bank, MRF, Tinplate Co and VST Industries.

Some of the Economic Happenings on which a Glance is necessary are:

CHINA: House Price Index.

U.K.: Retail Sales for the month of March (MoM) & (YoY).

INDIA: Trade Deficit Government for the month of March.

U.S.: Initial Jobless Claims, Continuing Jobless Claims, Philadelphia Fed Manufacturing Survey for the month of April and EIA Natural Gas Storage Change.

Still, for the overall market a very cautious approach of TRADING is recommended, as INDIA is facing Political Uncertainty as well Fund Outflow from FIIs through ETFs and even Global Economic Scenario is again getting worsen, whether it be EUROPE or The U.S. Small and quick profits should be booked either on Short side or on Long side. Traders are suggested to trade cautiously by following Strict Stop Losses and Booking Fast Profits, whereas, Investors are suggested to make good use of their money and hunt on for Jewels which are right now trading either at their 52-week’s low level or at the life time low levels.

What does Indicators Say?  

                                        

1. RSI (14 Days & 9 Days): The values are 51.01 and 42.17, respectively. The indicator is now heading towards its Overbought Zone. 

2. MACD (26 Days & 12 Days): Their Values are 89.24 and 92.77, respectively. The indicator is now is now heading towards its Overbought Zone.  

3. +DI: 26.60, -DI: 24.20, ADX: 24.24: The Positive Directional Index has moved above the Negative Directional Index, and the Average Directional Index is above 20, indicates that the trend of the market is strengthening. 

4. SMA (200 Days), SMA (50 Days) & EMA (20 Days): NIFTY is now trading above its 20-Days EMA (Exponential Moving Average) and 200-Days SMA of 5650.21 and 5659.25, respectively, but at the same time it is trading below its 50-Days SMA (Simple Moving Average) of 5773.34 on the closing basis.

Some Trading Stats of Wednesday’s (17^th April, 2013) Trading Session:

Net Buying of Rs. 206.68 Crore in NSE, BSE and MCX-SX in Capital Market Segment by FIIs and Net Selling of Rs. 260.93 Crore in NSE, BSE and MCX-SX in Capital Market Segment by DIIs was witnessed on Wednesday’s Trading Session.

NIFTY APR FUTURE ended at a Premium of 5.50 Points to the Spot NIFTY.

A view on some of the NIFTY 50 Stocks for TODAY:

AMBUJACEM:    Can touch the levels of 190/192, if crosses the level of 187.30.

CIPLA:              Can touch the levels of 410/412, if crosses the level of 402.

M&M:               Can touch the levels of 900/905, if crosses the level of 880-881.

SESAGOA:        Can touch the levels of 152.80/154, if crosses the level of 149.60.

RELIANCE:        Can dip to the levels of 760/752, if crosses the level of 770.

For the day, intraday resistance for NIFTY (SPOT) comes at 5720 / 5760 / 5790 levels. At the same time, 5660 / 5630 / 5600 will act as major intraday support levels.

For the day, intraday resistance for NIFTY (FUTURE) comes at 5725 / 5750 / 5790 levels. At the same time, 5675 / 5650 / 5620 will act as major intraday support levels.

For the day, intraday resistance for BANK NIFTY (FUTURE) comes at 12130 / 12280 / 12330 levels. At the same time, 11870 / 11785 / 11700 will act as major intraday support levels.

Pre Market Calls:

JISLJALEQS: Buy ONLY IF IT TRADES ABOVE 60.50 for the TARGETS of 61.80/62.80, with the STRICT SL of 59.70.

UNIPHOS: Buy ONLY IF IT TRADES ABOVE 126 for the TARGETS of 128.60/130.50, with the STRICT SL of 124.60.