NJOYYYYYYYYY PROFITS.

VIVIMEDLAB NOW 340 ......NJOY PROFITS.

DELVERY CALL.

Buy VIVIMEDLAB @ 320 - 322 S/L 300 tgts - 360 - 399- 440 - do not miss hold up to 10th November !!

BUY BUY

Buy IVRCL 160 Ca @ 4-5 SL 3 ; T1- 7 T2- 8.8 T3-11

BUY IVRCL FUT @ CMP

BUY BUY

BUY BHARATHIAIRTEL Fut @ 332 S/L 324 ; T1- 337 ; T2- 343; T3- 366

BHARATHIAIRTEL 340 CA @8-9 SL 5 TARGET 13-17-24

2nd NOVEMBER NIFTY VIEW.

In yesterday's trading, Nifty Future saw gap open, followed by a sustained rise to make a high of 6172 and the day's low was 6091. The gains were led by Reliance and bank stocks - particularly ICICI BANK.

We have an important event (RBI meet) lined up for today, that could have impact on Bank stocks. Yesterday Bank Nifty has almost come to the previous level and is close to doing a double top. Expecting bank stocks to continue its sustained rise (post RBI announcements) from the current levels would be a little preposterous, hence the probaility of negative reaction to the policy announcements remains higher. Long positions in Bank Nifty should be trailed with stop loss of 12600.

As regards Nifty Future, considering sharp rise yesterday, it would be better to avoid fresh long positions today. On higher side 6185 would be a hurdle and hence the same too can be used as a stop loss.

One can consider going short when Nifty trades below 6130 level with 6160 as a stop loss. On the down side 6100 and 6065 will provide support.

All the best.

1ST NOVEMBER NIFTY VIEW.

In Friday's trading, Nifty Future maintained a negative bias and made a new low of 5966 and in last hour made a sharp recovery to the day's high of 6066 and closed at 6044. The reason for the recovery could be strong support indicated at 5950 and also that day being a weekly/monthly close.

Today Long positions should be taken only above 6075 with stop loss of 6045. On higher side, it will face resistance at 6100 and strong resistance at 6145. While above 6145 it may show strength, and hence it is better not to remain short. However, I would like to caution the readers, that even after reaching 6225 it may fall short of going to the previous top of 6336. Only a close above 6225 we can expect to see Nifty Future making a new top.

As Nifty Future has shown a sharp pull back from the area of support near 5950, it would be better to avoid short trades at lower levels - at least for today

Next week is made of Diwali festivities and President Obama's visit - both events being times to celebrate and feel good, and hence market too may end up directionless.

All the best.

29th OCTOBER NIFTY VIEW.

Yesterday the FNO settlement ended amidst lot of volatility, on a downward bias. However, Nov Nifty Future traded at a premium of 70 points leaving hopes of continuation of the up move. The fact that Nifty Future closed below 6000 itself indicates weakness.

Today is an important day, as it is a last day of the weak/month. Any close below 6100 should be considered as the first sign of weakness on the monthly chart. This will confirm my apprehensions of market top in the 144th week (6318) from the previous high of 6336 in Jan 2008.

Though Nifty Future has 0.382 level support at 5950, what is important is the how far the Nifty Future is able to bounce. Further up side should be expected only if Nifty Future manages to go above 6065.

On the down side 5950 will act as a good support.

Will post regular weekly post tomorrow.

All the best.