On last Friday, I hope you all earned with my LIVE TIP on my blog today with our OPTION DAILY CALL. We advised to BUY 8000 NIFTY PUT at 22 and till closing time it reacehd at high of 29 and we advised there not to carry forwrd and BOOK PROFIT around 28-29 RS. I thik its much enough of earning 7 RS in 22 RS item.
Plus my TATAPOWER and PNB also kept going up in falling market also and today made new highs.
I also advised to BUY J&KBANK and it closed there around only near our buy price.
NITFY CASH crossed my 8296 level (but as I already mentioend condition) it could not sustain above 8296 and fell freely and THAT IS WHY WE ADVISED TO BUY PUT OPTION during market hours.
So overall good day as we played limited for safety and also earned good.
Anyway, for today,
NIFTY CASH : CLOSED 8244
8296 ( as I mentioned for Friday also ) and 8308 are built up as very strong resistance for today. It will go to 8332 ONLY IF it will cross these levels with good volume and also sustain above 8308 for few minutes ( except first 15 minutes of opening). If in any case 8332 is really crossed for 5 minutes also (without breaking it ) than expect ONE WAY NON STOP RALLY till 8378. BOOK all your intraday and positional profits there.
Now, 8208 is next very important and strong support initially. It wil fall further ONLY IF it trades across this level for few minutes with high volume, otherwise it will not fall further or will come back up, but once this level is broken than expect 8164 to 8140 in few hours only or next day for sure if it does not close above 8208.
That is it for today, untill it cross these down and upper levels. The advised strategy for today is to sell with confidence near my resistance levels that I have already mentioned and try to buy once and book faster near the sfirst support evel that I have mentioned.
For stock specific advise I will update here on this same blog or same page very soon. Keep watching.
IMPORTANT DATA FOR MONDAY 9 JAN 2017
Market Update:
Sgx Nifty +15 pts
Dow +64.51 pts ,Nsdq +33.12 pts , S&P +7.98 pts , Bovespa -405 pts , Ftse +14 pts , Dax +14 pts , Cac +9 pts , Nikkei Clsd , Crude @ $53.78 brl (-0.21 ), Brent @ $57.10 brl (+0.00) , Gold @ $1173.30 (-0.40), Silver @ $16.54 (+0.01), Euro @ $1.0529, JPY @ $117.1500, INR @ $67.9637
Today's Corporate Action
9th Jan Ex Date
STERTOOLS Stock Split From Rs 10 to Rs 2
Today's Key Result
9th Jan
8k Miles
NEWS :
Ø No change in budget date, government to tell EC
Ø ONGC close to solution for $800 million projects stuck
Ø Note ban impact to last longer than expected: Dreze
Ø Get PAN from A/C holders by Feb end: Govt to banks
Ø Sebi queries Tata firms on Mistry, Wadia allegations
Ø I-T probes Rajkot bank that got Rs 871 crore deposits
Ø Note ban to have significant short-term impact on GDP
Ø Sebi to allow MF buying through e-wallets
Ø Budget 2017 may be flexible on fiscal deficit target
Ø NTPC to step up sale on power exchanges
Ø China reserves hover above $3 trn on government support
Ø Anti-avoidance tax rule to kick in from April 2017
Ø China plans to invest $5 bn in southern Sri Lanka eco zone
Ø Govt to have sufficient sugar; no plans to cut import duty
Ø UK eyeing tax breaks, work visas for some sectors
Ø Indian businesses most optimistic on economic revival in 2017: Survey
Ø Dumping duty imposed on jute products from Bangladesh, Nepal
Ø Aurobindo Pharma gets USFDA nod for anti-epileptic drug
Ø NDMC auctions central Delhi hotel for price 15 times higher
Ø Sebi seeks explanations from Tata firms on Cyrus Mistry, Nusli Wadia allegations
Ø Black money assessment reports can't be disclosed: Institutes
Ø SpiceJet to buy 92 Boeing 737 jetliners worth $10.1 billion
Ø SC threatens to cancel Aircel’s 2G spectrum licence
Ø Tax department asks banks to report pre-demonetisation cash deposits
Ø Demonetisation: RBI governor Urjit Patel to be questioned by Parliamentary panel on cash crisis
Ø Almost 70% MoUs of Vibrant Summits materialised: Gujarat CM Vijay Rupani
Ø Srei looks to divest up to 35% stake in Sahaj, expects higher valuation on digital push
Ø 'Despite demonetisation, India to grow faster than China'
Ø Court seeks police report on banker's plea to surrender
Ø Banks’ credit cost to remain high from ageing NPAs
Ø FPIs want clarity on tax
Ø Petrol pumps won’t accept card payments from today
Market Cues
Indian markets are likely to open flat with a positive bias tracking SGX Nifty. U.S. markets closed higher after hitting all-time highs on Friday as the technology sector led, while investors parsed through key employment data. U.S. The European markets ended Friday's session with mixed results, but the majority finished with slight gains. The markets were locked in a narrow trading range throughout the day and did not stray too far away from the flat line in either direction. Indian Market fell slightly on Friday as IT stocks continued to come under selling pressure ahead of quarterly results beginning next week. Profit booking after Thursday's rally, weakness in the rupee in the evening trade and sluggish cues from European markets also dented investor sentiment.
Sensex (26759) / Nifty (8244)
It’s been a week of consolidation for our market after seeing a spectacular recovery in the previous week posting a new tenmonth low of 7893.80. However, things were quite clear due to this remarkable rally that the Nifty has formed a base around 7900 and is now poised for a breakout beyond 8274.95. Very much on our expected lines, the Nifty first retested the mentioned level and then kissed the 8300 mark.
However, we saw some profit booking on Friday, which we believe was quite evident after a straight 400 points upward move and importantly after testing the daily ’89 EMA’ placed around 8295. Now, with reference to our previous article, we would interpret this corrective move as a breather and continue to expect higher levels of 8400 - 8460 in the near term. Some of the key evidences for such hypothesis are a rising ‘RSI-Smoothened’ on daily chart after confirming a ‘1-2-3’ pattern, positive crossover of ‘5 & 20 EMA’ combination, and a ‘Double Bottom’ formation precisely at 50% Fibonacci retracement level of the entire rally from 6825.80 to 8968.70. Thus, traders are advised to stay positive and use all meaningful dips to initiate fresh long positions in the market. Going ahead, 8182 - 8133 would be seen as an important and strong support level.
Key Levels
Support 1 – 8227 Resistance 1 – 8300
Support 2 – 8182 Resistance 2 – 8325
Nifty Bank Outlook - (18264)
The Nifty Bank index outperformed the broader indices on Friday and ended the session with gains of 0.82 percent. The Nifty Bank index gave breakout above the resistance of 18250 on Friday on closing basis as the heavyweights within the Nifty Bank index showed positive momentum on the last trading session of the week. The upmove was quite on our expected lines as we have been anticipating it in our last few reports. The 'RSI Smoothened' oscillator too has breached its previous swing high and is indicating positive momentum. Thus, there is higher probability of the Nifty Bank index continuing its upmove in near term which could lead the index higher upto 18600. Hence, we advise traders to hold on to the long positions created last week and trade with positive bias in the sector. The intraday supports for the Nifty Bank index are placed around 18150 and 18075 whereas resistances are seen around 18460 and 18600.
Key Levels
Support 1 – 18150 Resistance 1 – 18460
Support 2 – 18075 Resistance 2 – 18600
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