Over 10 Years of Experience in Trading Indian Stock Markets. We are not an Stock Advisory Company, we are Real Traders of SOKHI TEAM. Trading with us you shall Learn what is Capital Management + Strategies on how to convert a Loss Making Trade into a Profitable Trade without Averaging ! For the First Time in INDIA you can see VIDEOS of Traders who are making money visit this link : http://www.youtube.com/channel/UC8Zczdi-oyFb1wgJQ4e9qjw/videos.Call us at 09239176426
Friday, September 18, 2009
Sokhi Market Outlook for 18th September !!
National Stock Exchange’s index Nifty hit the highest point intra-day since May 28, 2008 on Thursday testing the psychological barrier of 5,000.
But the markets could not sustain at the higher levels as profit booking was evident in the afternoon session and the Nifty ended up 7.15 points or 0.14 per cent at 4,965.55.
Expecting that the Nifty may close above 5,000- mark in the next few sessions, “Nifty has a resistance at 5,025-level. As expected, the market is showing signs of profit booking as it was in the overbought region for some sessions.”
Markets were positive on strong assurance of the RBI that interest rate hike is not on its agenda till the economy is back on track.
Inflation turned positive after three months as the effectbase started winding down and food prices rose sharply. Inflation for the week ending September 5 was 0.12 per cent, according to data released by the commerce ministry on Thursday.
“The inflation is expected to keep on rising from here on. We expect it to touch 6 per cent by March 2010,”
The Nifty has to break the 4,780-level for any pullback as this has acted as the support level through last week. Langote expects the choppiness in the market to increase from the current level as the retail crowd is getting in while big players are moving out.
With the expiry of the September series just four days away, traders today booked profits and, hence, unwinding was seen at 4,700-4,900 strike call options.
The 5,000 call options saw change of hands as this strike call added 32,300 shares in OI despite an intra-day trading volume of 11.81 million shares. However, the 5,000 put of the September series witnessed 140 per cent rise in OI, mostly through buy-side trade, indicating hedging of long positions.
Subscribe to:
Post Comments (Atom)
DISCLAIMER
All the advises,calls,tips and predictions are neither an offer nor a solicitation to purchase or sell securities.The information and views given by writer is believed to be reliable but no responsibility (liability) is accepted for error of facts and opinion.Writer may be trading in or having positions in stock markets.
No comments:
Post a Comment