Thursday, April 21, 2016

Green is Color of Day - Decisive Action In Markets Today

Yesterday Nifty closed absolutely flat at 7914 despite benign global markets and supportive oil situation.

Global markets are in fine fettle. Dow Jones closed 42 points higher at 18096. Oil is trading in green. Asian markets are also in green and SGX Nifty is up by 32 points. So Indian markets should open in green today.

In trade on Monday there was appearance of "Hanging Man" in Nifty chart. Hanging Man is a candlestick pattern which denotes bearish mood. Luckily in yesterday's trade, bearish angle of Hanging Man was negotiated by Nifty. This gives bullish slant to Indian markets.

Trading activities in today's session is going to be very crucial. Movement of Nifty in trade today will determine it's target.

If Nifty opens with a Gap-up above yesterday's high and maintains it's up-move throughout the session, then we will have a target for Nifty in range of 8300. If not, Nifty target could get restricted to 8000 level.

Call-to-Action

We have open long positions of Apr Futures Do take careful note of the following actions that you need to take in trade today :-
  1. RPOWER Apr Fut to be sold at 53.5/54 if it does not open with strong gap up. It was bought at 50 and initial target given was 54. But if it opens with a strong gap up, then hold this position for target beyond 54.
  2. IOB Apr Fut to be sold at 32.5/33 if it does not open with strong gap up. It was bought at 30 and initial target given was 36.
  3. Albk Apr Fut to be sold at 60.5/61 if it does not open with strong gap up. It was bought at 57 and initial target given was 67.
  4. IDBI Apr Fut to be sold at 74.5/75 if it does not open with strong gap up. It was bought at 71 and initial target given was 80.
  5. UCOBANK Apr Fut to be sold at 41.5/42 if it does not open with strong gap up. It was bought at 40 and initial target given was 45.
  6. CANBK Apr Fut to be sold at 202/203 if it does not open with strong gap up. It was bought at 194 and initial target given was 220.
  7. KTKBANK Apr Fut to be sold at 112/113 if it does not open with strong gap up. It was bought at 104 and initial target given was 120.
  8. SYNDIBANK Apr Fut to be sold at 70.5/71 if it does not open with strong gap up. It was bought at 67 and initial target given was 85.
  9. ORIENTBANK Apr Fut to be sold at 97.5/98 if it does not open with strong gap up. It was bought at 94 and initial target given was 110.
  10. ANDHRABANK Apr Fut to be sold at 56.5/57 if it does not open with strong gap up. It was bought at 53 and initial target given was 65.
  11. BANKBARODA Apr Fut to be sold at 155/156 if it does not open with strong gap up. It was bought at 150 and initial target given was 170.
Current status of our 16 long positions in Apr Futures is given below:-

RPOWER :Bought 50,Close 52.45
IOB : Bought 30,Close 31.55
ALBK:Bought 57,Close 58.75
IDBI: Bought 71,Close 72.2
PNB: Bought 87,Close 84.6
SBI: Bought 195,Close 188
UCOBANK: Bought 40,Close 40.15
CANBK: Bought 194,Close 197.5
KTKBANK: Bought 104,Close 109.5
SYNDIBANK: Bought 67,Close 69.05
BANKINDIA: Bought 98,Close 94.95
ORIENTBANK: Bought 94,Close 93.85
UNIONBANK:Bought134,Close127.6
ANDHRABANK:Bought53,Close 55
BANKBARODA:Buy150,Close152.7
HEXAWARE: Bought 268,Close 256.8