Nifty Watch for the week ahead
The positive thing about the Nifty spot and Nifty Dec Fut is that it is closed above 4850 level. We are seeing a pattern of higher lows and lower highs forming not only is US and European markets but also in the most of the world markets including Indian markets which may create some upward momentum in markets. Every December we are seeing some short covering and an upward rally. Market is expecting this Santha Clause rally every where this year also.
The outcome of EU summit is not so cheerful but some thing which market can look positive and can have a view that worst thing is avoided. But the solution which were put forward in a long term point of view, but they have to take some concrete steps to implement it. Due to this outcome all most all European markets and US market closed positive on Dec 09 2011. This may lead to some recovery in our market also on this coming week.
The worst things expected coming week are IIP data on Monday, Advance Corporate Tax payment on Thursday and Inflation data on Wednesday. This may make our market more volatile.
Nifty may test the level of 5032, 5145 and 5235 on upside by taking support from 4812 and 4702.
Stock Watch for the week ahead
RBI's mid-quarter monetary review meeting is scheduled next Friday is expected to have a cut in rates which may stimulate an up trend in banking stocks. Stocks to be in the radar is SBIN and Axis Bank.
It is expected that SBIN to hit 2050 and Axis bank 1050 this month.
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Past Performance
Day's (09.12.11) Performance
Buy Nifty fut at 4900-4905 TGT 4940/4975/4993 SL 4854 - 1st TGT achieved
Day's (08.12.11) Performance
1. L&T Dec Fut Bought at 1330 hit SL 1313 - Loss of Rs. 4250/-
2. Reliance Dec Fut bought at 805.15 hit SL 791 - Loss of Rs. 3537.50
3. Buy Nifty Dec 2011 CE 5100 bought at 67 - holding
Day's (07.12.11) Performance
1. Buy SBIN Fut at 1870/1875 TGT 1897.60/1910 SL 1854.75 - call was given on 06.12.11 and both the target achieved on 07.12.11 (Profit Rs. 5000/-)
2. Buy Nifty Dec Fut at 5051.10 SL 5007 TGT 5107/5120/5133 - call was given on 06.12.11 and 1st and 2 nd Target achieved and booked profit at 5128 on 07.12.11 (profit Rs. 3845/-)
3. Buy Nifty 4900 Dec PE at 60-65 SL 47 TGT 84 - call was given on 05.12.11 and Stop loss hit on 07.12.11 (loss Rs. 900/-)
Day's (05.12.11) Performance
1. Buy Nifty 4900 PE (DEC 2011) at 60-65 SL 45.75 TGT 83/97 - call open - made a high of 74
2. Sell L & T Dec 2011 Fut at 1320 SL 1351 TGT 1290/1271/1263 - call closed at 1315- made a low of 1301 (profit - Rs. 1250/-)
3. Buy Infy above 2704 SL 2691 TGT 2714/2725/2740 - 1st & 2nd TGT achieved - call closed at 2714 -(Profit Rs. 10/- per share)
4. Buy SBIN Fut at 1870-1875 TGT 1897.60/1910 SL 1854.75 - 1st TGT achieved & made a high of 1906 - call open (profit 4500/-)
5. Buy Nifty Dec Fut at 5051.10 SL 5007 TGT 5107/5120/5133 - made a high of 5086 - call open
