View for 1st July

I don't know how many of you acted on my advise yesterday to exit 'stuck' Long positions and create fresh 'shorts' at higher levels.

Dow lost almost another 100 points to close below crucial support of 9800. What this means is that we are going to open at least a % lower around 5250 and after a 'sluggish' first half where some feeble attempt at recovery may provide oppurtunity to create further 'shorts'.

Expect 5200 to be tested today in second half after Europe opens and if broken, support comes only around 5150. Inflation data too should be 'very high' today and may add to woes. My range for the day is 5140-5280 with reality and banks ideal for Shorting.

View for 30th June

Nifty opened around 5250 on back of 260 point loss in Dow. Expect Nifty to test 5200 today which is a crucial support. One can buy any dip below 5200 keeping a stop loss of 5180, and if 5180 is broken, expect 5100 by today or tomorrow as inflation data which should be very high on account of 'fuel price hike'.

Expect RBI to raise rates this weekend, so we may see a 'preciptous fall' in next 2-3 sessions this week if global weakness persists. In no case, 'serious buying' should be attempted except for intra-day trading for max 30-40 points while shorting won't be a bad option at all at all higher levels.

I have advised shorting in bank and reality stocks in last few sessions and they have given good gains on those while only pocket of strength has been 'fertilizers' which have been repeatedly recommended by me for both trading and investment.

View for Week beginning 28th June

No doubt, fundamentals of our markets are good but our markets can't ignore effect of global negative news or even inflation fears on itself.

Nifty should find it difficult to cross 5400 this week. On Monday, it saw levels of around 5350 only to give up all its gains on tuesday to currently quote around 5250. I had already warned of violet moves in my monthly report and that is exactly what we are seeing today.

5200 is likely to be tested by tomorrow and markets should revolve around 5200 for rest of the week. I expect markets to move 100 point up or down around 5200 for remaining 3 sessions which gives us a range of 5100-5300.

I believe one should look at side counters where results are expected to be good like Auto, Fertilizers while interest rate sensitives like Reality and Banking should be shorted at all higher levels.

View for 25th June

nullNifty should open below 5300 on back of major fall in dow overnight. Expect very volatile trade today as Nifty can go down and found support around 5250, and even if that breaks, 5200 should hold today.

On upside, no major gains expected today as markets globally are weak. Expect a nifty range of 5220-5340 today. Expect long build-up in fertilizers and Autos.nullnullnull

view for july series

I had predicted a Strong bounce in latter half of June as there is nothing wrong with our fundamentals and we have to learn to live with 'bad news' from global arena which paradoxically, should provide good dips for 'brave investors' to enter the market.

I had given 'strong buy calls' on JP Associates at 117/-, HDIL at 226/-, RNRL at 52/- and India Infoline at 91/- in last series and they all have given 10-15% returns since then. In fact, only brave investors log gains who buy into panic.

As for July Series, expect Nifty to see alternate bouts of 'buying and selling' but trend should be up for at least next one week. 5200 provides good 'entry point' if Nifty dips to 5200 anytime in next one week while 5400 provide 'strong resistance' on upside.

In mid-july, expect Nifty to peak-out around 5450-5500 levels as 'short positions' get built up in anticipation of 'rate hikes' in RBI Credit Policy in end July and any hiccups on global front may bring that fall earlier.

Expect Nifty to trade between 5100-5500 in July Series with reality and banking being weak spots.

view for 24th June

Today is the last day of FNO Expiry and there is every likelihood of Nifty closing above 5350 or even 5400 on expiry. Nifty is currently trading at 5340 and should find good suport around 5320 on downside and can easily go to 5370 on upside beyond which it has stiff resistance but being an expiry day, short covering can take it anywhere.

My range for the day is 5320-5420 with Reality stocks kooking good for gains.

view for 23rd June

Nifty should open a bit lower around 5300 on back of overnight losses in Dow and should attempt to go up to 5325 levels beyond which Europe holds the key.
On the downside, 5280 provides good support and 5350 poses stiff challenge. The Nifty range for the day should be 5280-5360.
Expect strange move on reality and bank counters on FNO Expiry considerations tomorrow.

view for 22nd June

nullnullnullnullNifty has opened 20 points lower around 5330 on back of slight weakness in most Asian markets. Trade should be sluggish for first couple of hours when nifty is expected to move between 5320-5350 and only when Europe opens, should we see heightened activity as many shorts are still trapped. Expect Nifty to move between 5320-5390 whith reality being biggest beneficiary of short covering.

view for 21st June

Nifty is expected to open higher around 5320 and may witness mild profit taking which can make it dip for a while below 5300 which would be ideal time for intra-day buying. Expect Nifty to roar once again around noon when Europe opens. Expect Nifty to trade between 5280-5380 for the day. Fertilizers, and OMC cos. like Essar Oil should do well for the day.

View for the Week beginning 21st June

Nifty has staged a 'remarkable turnaround' in the week goneby and I had already warned of 'shorts' getting nervous and rushing for 'short covering' and that is exactly what happened though the 'ease' with which 5200 was taken was surpising and pointed to the underlying strengths of markets.
Since it is a week of FNO Expiry, expect heightened volatility with Nifty poised to test the year highs of 5400 on first two days of week only while we can see dramatic reversals as well in mid-week. I expect to see Nifty trade in a range of 5220-5420 for the coming week. Expect fertlizers, oil marketing cos. to perform well while banks and reality should see some shorting at higher levels.

view for 18th June

Expect Nifty to open flat around 5280 and make an attempt at Peak 5300 but I expect a significant correction from those levels today in late trade. RBI has been hinting at a rate hike in view of rising inflation and may announce it on weekend. Traders may not like to carry their open positions on weekend and may book profits at higher levels. My Nifty range for the day is 5180-5310 with reality and banking likely to take a hit.

Welcome

Starting today, I am starting writing on this blog for the benefit of all those who want to master the markets. I will try to give a prospective on markets on a daily and weekly basis. Plus there will be a monthly overview on new FNO series in the markets. If anybody is interested in investment ideas and asking personal queries on markets, he can mail to askmrbullish@gmail.com to subscribe to the various packages.
I hope we all have a great time here.