Overnight BTST Buy immed HCL TECH/valuerupee/SunilBehki http://wp.me/p30HzT-ile
Last close 10944.95
This is what we have been shouting since last several day…..We wrote “Unfortunately, “depth” in all banking stocks remains a concern, with Sellers continuing to outnumber Buyers. There could be further weakness with technical levels being broken. The near-term stance is bearish for Bank Nifty. Make use of rallies to sell while maintaining stiff stop-loss. We recommend a sell”
This is what we have written several times…when we wrote this Bank Nifty was at 11450…..we wrote “I repeat, Frankly, I see Bank Nifty sliding to 10760 very soon…how and what will trigger that sort of panic….No Idea…”
Our simple straight forward strategy would be to sell on higher levels….!!!
More detail to our online clients.
Last close 5500.85
Yesterday Nifty closed down 47.85 points at 5495.10 while Nifty futures closed at 5500.85, premium of 5.75 points. FIIs sold in Cash, net sell 664.90 Crore while DIIs bought in Cash, net buy 987.81 Crore. FIIs bought in Index Option, Stock future but sold in Index future, net buy 1706.67 Crore.
FIIs bought 63439 contracts of Index futures and sold 64027 contracts of Index futures which come to net sell of 588 contracts worth 15 Crores with net open interest increasing by 13750 contracts.
Considering all above facts it seems that FIIs once again went short in Nifty futures and specially in Bank Nifty..!!!
Yesterday closing index fell to seven-month low, Software exporters led the decline. Banking stocks were in free fall mode..!!!
Overseas investors, who came in with the expectation that the government will push ahead with economic reforms seems to be disappointed & thus started offloading several heavy weights.
Domestic political instability concerns, fourth quarter earnings and worsening geo-political situation between the US, South Korea and North Korea are the major reasons for the downfall.
Though most of the negatives have been factored in, the markets will look for breathers going forward.
We will reach lower levels from here but the earnings cycle would more or less dictate the direction of the market going forward.
Now all important support levels gone, we at valuerupee recommending to short since last several weeks. Now it looks market is headed for 5469, break below will take this to 5433.
Sooner or later chances are very bright that it can even slide to 5350 mark which is 50% retracement from low of 4770 to high of 6110…!!!
Last close 395.60
Investors looking for exposure in the Pharma space can consider this stock which is going very cheap at current levels.
Buy with a two/three-months perspective.
Buy and stay invested keeping stop loss of Rs.386 for an upper target of Rs401, Cross over will take this to Rs.406.
Those having patience will see the price of Rs.425 in coming weeks…!!!
Last close 1032
Stock has been consolidating at current levels.
The stock has traded range-bound recently and now very much ready to give break out on charts.
Grab and stay invested with stoploss of Rs.1017 for an upper target of Rs.1047, Cross over will take this to Rs.1060.
Short term target is Rs.1088…!!!
Last close 5559
Yesterday Nifty closed down 10.30 points at 5542.95 while Nifty futures closed at 5559, premium of 16.05 points. FIIs sold in Cash, net sell 163.95 Crore while DIIs bought in Cash, net buy 212.72 Crore. FIIs sold in Index future but bought in Index Option, Stock future, net sell 14.04 Crore.
FIIs bought 28121 contracts of Index futures and sold 39804 contracts of Index futures which come to net sell of 11683 contracts worth 325 Crores with net open interest increasing by 12269 contracts.
Considering all above facts it seems that FIIs once again went short in Nifty futures and even it Bank Nifty..!!!
Nifty already slide by 218 points since last 5 trading session, now trading in sideways mode since last 2 trading session. Now only level to watch in Nifty spot is 5535 which becomes important support levels as it’s a 233DMA which has its own significance as noticed in past. Any point of time break below will again create panic selling. A chance seems to be very bright that sooner or later it will break considering Nifty lowest closing of last 6 Months yesterday. Even if during intraday market see some recovery it would be maximum upto 5604 which has to watch out carefully, if crosses and stay above will take this to 5642 where one can again go short.
Last close 5572.05
On Friday Nifty closed down 21.50 points at 5553.25 while Nifty futures closed at 5572.05, premium of 18.80 points. FIIs sold in Cash, net sell 203.19 Crore while DIIs bought in Cash, net buy 21.47 Crore. FIIs sold in Index future, but bought in Index Option, Stock future, net sell 516.81 Crore.
Last week market slide below its 200 DMA as FIIs turned bearish along with DIIs…!!!
Now for this week if FIIs along with DIIs turned negative then there will be more panic on the street and that downtrend perhaps turn into a blood bath in market that could last for over next few weeks..!!! Now the cause of worry is that there are whispers that Germany may be heading into recession.
Domestically earnings season to kickoff in later this week. The biggest overhang on sentiment now is political instability. The United Progressive Alliance may hold together for the full-term or it may collapse in the monsoon or the winter session. Traders and even investors not interested to make any position due to uncertainty going forward..!!!
Technically speaking, the drop below the 200 DMA has not gone deep enough or lasted long enough to confirm a long-term bear market. But on the basis of the charts, and of poor breadth and institutional selling, the trend looks strongly bearish.
For intraday we see Nifty futures sliding to 5549, if breaks and trades below could take this to 5513 mark..!!! On the upper side immediate hurdle exist at 5591, if crosses and trade above could take this maximum to 5617, 5640 mark..!!! Any revival should be consider as best opportunity to sell only..!!!
Last close 1740.35
Even this stock failed to sustain above its immediate support and closed for the first time in a highly negative zone confirms correction for this counter.
The stock needs to move above Rs.1805 to make the short-term outlook positive.
On the lower side technically we see this stock sliding to Rs.1702, if breaks Rs.1702 during intraday could slide to Rs.1667 mark in panic…!!!
Last close 111173.60
Unfortunately, “depth” in all banking stocks remains a concern, with Sellers continuing to outnumber Buyers. There could be further weakness with technical levels being broken. The near-term stance is bearish for Bank Nifty. Make use of rallies to sell while maintaining stiff stop-loss. We recommend a sell.
Remain short keeping stop loss of 11485. On the lower side we see it sliding to 11064, break below will take this all the way down to 10971 mark..!!!
Last close 5593.20
Traders are getting jittery after the premium in Nifty futures reduced, coupled with heavy selling from FIIs in Cash segment since last 2 trading session..!!! It seems like even the FIIs especially Exchange Traded Fund flows are now at risk of being pulled out given continued political uncertainty and worries about early elections. Slowdown in China and fall in commodity prices are among the major concerns for the Indian markets.
The political uncertainty will continue to impact market moves and with talks of an early election, market may turn cautious in the near term. Upcoming Q4 results season could worsen the sentiment days ahead..!!!
The Nifty fell below the critical 200 day moving average (DMA). Usually, when an index or stock falls below the 200 DMA, it declines by another six to eight per cent..!!!
FIIs have been aggressively creating short positions in Nifty futures and options of late, indicating strong expectations of a further decline.
Short positions in Nifty have been rolled over from February and more recently, there has been heavy open interest build-up in 5,400 and 5,300 puts. When a trader buys Nifty 5,400 or 5,300 puts, it means we can even see those levels very soon..!!!
Yesterday Nifty closed down 98.15 points while Nifty futures closed at 5593.20, premium of 18.45 points. FIIs sold in Cash, net sell 326.21 Crore while DIIs bought in Cash, net buy 64.73 Crore. FIIs bought in Index Option, Stock future but sold in Index future, net buy 167.01 Crore.
FIIs bought 47187 contracts of Index futures and sold 82204 contracts of Index futures which come to net sell of 35017 contracts worth 985 Crores with net open interest increasing by 28883 contracts.
Considering all above facts it seems that FIIs once again went short in Nifty futures and even it Bank Nifty..!!! Nifty futures fall by 189 in just 2 trading session is the matter of concern..!!! Out of 50 index stocks 33 are trading below is 200 DMA.
Now considering several indicators, last hope for Nifty futures is 5551, we are in the camp who believes that Nifty might try to pull back from this levels. Believe me risk reward ratio for intraday traders will be in favour of bulls around 5551. Those trading for intraday can buy during opening panic keeping strict stop loss of 5551. If at all breaks during intraday then straight away 5487 cannot be ruled out. On the upper side immediate hurdle exist at 5669..!!!
Last close 845.95
When any one compare this stock with any of its peers it seems that this stock has not corrected so much…!!! Things could change from here on and now we can see huge sell off..!!!
Going through the Monthly charts some indicators showing sharp sell off in this counter…We recommend selling this keeping stop loss of Rs.855.
We see stock sliding to Rs.833, Rs.825.
Soon stock will slide to Rs.810 mark..!!!