Market Views

Hello Friends,

Nifty Daily Charts

Last week we have updated Nifty Charts with Short term supports & resistances zone. The markets took support near Trendline Supports & resisted from Trendline resistances as shown in charts updated above.

Views for short term updated in charts itself.

Yahoo id : AlliesFin@ymail.com

Email : AlliesFin@gmail.com

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Regards,

Allies Financial Services

Mumbai, India

Website : http://www.AlliesFin.BlogSpot.Com/

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Rescue Time at Crucial Levels.

Hello Friends,

After long time Blog has been updated with views on Markets & especially Nifty, which has been the Darling for many of Derivatives Traders.


After making years high at 5400 till date Nifty saw profit booking & once double bottom was broken at 5200 shorts were build up. Now Nifty has made a low of 4984 which is very close to imp support area of 4950 which is 200 DMA & Trendline support area connecting earlier 2 lows & current one as shown in charts ( click on charts to enclarge).

At current Nifty will be in consolidation zone between 4950-5040 a 90 pts range, which is good for markets after such huge dips in last week. The week gone by we had DOW JONES dip by 1000 pts only due to error in Algo trades which NYSE agreed to cancel. If that would have been recorded then it would be an history in U.S markets.

Below 4950 close, we see Nifty to test earlier break out areas of 4800-4860 which have been updated in our earlier posts on our blog http://www.alliesfin.blogspot.com/ , but this may happen only in panic situations if the Global markets could see a drastic fall again else it may hold the grounds. Also last week RIL-RNRL case verdict was out favoring RIL, the stock was up 3% while RNRL was dn only 22%. Now another 6 weeks were given by SC to re-negiotiate the terms between 2 bros or 2 cos.

Currently Nifty is trading down by 7-8% from recent Tops just following global markets ignoring domestic cues. The results are out & this week we had IIP nos & Inflation which could have some minimal impact on the sentiments of markets as most of the pains are out & discounted. A close above 5040 for 2 consecutive days would reverse the short term falling trend & could test the resistance areas.

The fear in markets is still on among the local players & retailers who have missed out the shorts at higher levels & are now in panic. They see markets falling more to 4700 - 4500 in the near term, but this could happen only we close below 4860 for 2 consecutive days.

Which Stocks / Sectors to buy & Nifty Target levels only for Clients.

Disclosure : We are long in markets since last Thursday.

Good Day

Regards,

Allies Financial Services
Mumbai, India
Website : http://www.AlliesFin.BlogSpot.Com/
Mobile Web : http://m.smsgupshup.com/groups/ALLIESFIN
Email Group : http://Groups.Google.Com/group/ALLIESFIN