Nifty ans Sensex bottoming out?

As the addage goes into the capital markets that bottoms are formed when there are bad news pouring from all quarters of economy. Current situation of Indian economy is no different. another feature for bottoming market is a lot of volatility which is also being witnessed from last few trading sessions.

So as per my view go Nifty and Sensex are in the phase of bottoming out. Only need of the hour is Nifty must hold the level of 5293 in coming days.

Market view for February...

I was away from the market for a long time. But now i am back so thought of giving some views regarding my expectation from the market from here on wards.

 As i was expecting nifty hit 6000 by the end of 2012. Recent movement of nifty suggests that february can be a month of downfall. It can be viewed as correction too. Today nifty opened with gap up and then came down. In the process it filled the gap which it created yesterday that is 5th feb. So it is a strong indication that   there will be correction in nifty. Traders can buy puts of feb accordingly.

Expectations from nifty from here on wards...

I have firm belief that nifty is still in bullish mode. And it should touch 5600 - 6000 in the coming months and should scale new high by the year end or by the first quarter of next year. Recent pull back was kind of correction and also part of the "gap" filling process. Nifty should not go below 5245 and in all probability it has bottom out for the next 3-4 months. So traders and investors should start playing " Long "  Games with keeping the s/l of 5245 in mind. ( S/l of 5180 for the long term investors) 

Follow Up of Last call..

Apollo Tyre hits stop loss. Tata global moved from 118 to 128 .. book some profit here and move s/l to 115 from 110. hold rest for the target of 140.

Tyre and Beverage...

To run a car u need Tyre and for your mornings u need tea or coffee. To compensate the increase in prices of petrol, here is a stock which can put the money back in your pocket u spent on fuel ..

Buy Apollo tyre (Cmp 82.3 ) with s/l of 79.5 ...

 

Another good looking stock is Tata global .. Buy it with s/l of 110 .. cmp is around 118 ... 

Keep both stocks for 2-3 months if u r an investor. And buy on dip and sell on rise , if you a trader ...

Dollar , Gold and Equity...

GM all traders...
                     I think Dollar ($) and Gold are on the way of replicating what happened with Silver And Crude Oil. IF you remember Silver tanked from 73000 to 40000 in matter of days and crude oil slipped From 5600 to 4600 in even shorter duration. Now i feel that Dollar will come down with a very slow pace and gold will tank like Silver to the level of 25000-26000. IF it happens then Equity will be the only place to invest. Other positive thing is that probably the worst has been over as for as world market is concerned. Dow is trading above 200 DMA and looking for a good up move in Daily chart. So plan your trades accordingly and stay happy.

Global turmoil and Local Hope...

There are so many things going around the world . European crisis , Rating downgrade - upgrade. G-20 , G-8 summits to resolve crisis . Markets flying and falling like a kite in heavy wind. As for as nifty is concerned , i m hopeful of the upside move till it holds 5080 ( 5084 - is its 200 SMA) in short term and 4990 in long term. With a little bit of risk it is an excellent opportunity to make money.

Major support and resistance level for the day is : 5080-5180

Have a profitable day ahead...