Wish you a happy Ugadi and broader outlook of market for March 31st, 2014

Wish you a happy Ugadi

The bulls are calling the shots. Key benchmark indices edged higher in choppy trade, with the market sentiment boosted by data showing that foreign institutional investors on first day of new Expiry series. FII Bought INR 1362.87 crs and DII Sold INR 208.34 crs

Shorterm TermTold u above 6570 we are heading towards 6700 and we met target dont have any more targets as of now till further analysis.


Intraday LevelsAs indicated by cues we may see positive opening and if it can trade above 6725 we could see 6740 and 6755 and below 6700 we could see 6685 and 6570.

Top pics for the day are Hero Motors, OBC, Adani Port, Ranbaxy, JSWsteel, Auro Pharma and Sun TV A for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for March 28th, 2014

Nifty edged higher and hit fresh record high, with the market sentiment boosted by data showing that foreign FIIs made substantial purchase and it did not abate even on expiry.

Shorterm Term
Told you if we can stay above 6570 for two days we are heading towards 6700 and we are half way to the goal. We may have some aberrations and market can be choppy but we are very near to top. We may also have bigger top for that we need a big event which is due in next month. We made a 700 point one way move and how long is this going to be, no answer as of now.

India VIX is at 18.7 which is surprising despite one way move in market. Is some thing cooking, well it could be, but as of now my target is 6700 for upside and for downside below 6570 for few days we could go to 6500 and 6420. We are seeing new highs every day for Nifty major and new sector is coming in limelight.

Intraday Levels
As indicated by cues we may see positive opening and if it can trade above 6660 we could see 6675 and 6690 and below 6620 we could see 6605 and 6590.

Top pics for the day are Hero Motors, IDFC, Tata Comm, BhartiAirtel, L&THF,TechM, Zeel and Divis for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook of market and stocks for March 27th, 2014

Nifty closed for the first time above 6600 and the market breadth, indicating the overall health of the market was negative, FII's were still buying. FII Bought INR 1004.52 crs and DII Sold INR 356.11crs.

Shorterm TermWe are above 6600 and Upside is still intact even though we may see some aberations because of Expiry and my opinion will not change and will remain same which is upside. Nifty is heading towards 6700 if it stays above 6570  and weaknes can only be seen  below 6480 and if it can stay  for few days it could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days.

What ever happens we are going to have highest ever monthly close. Banks and Metals have lead this rally and IT & Pharma have taken back seat. As indicated by 6600 option writing we are likely to close above 6600.

Intraday LevelsAs indicated by cues we may see flat opening and if it can trade above 6615 we could see 6630 and 6645 and below 6570 we could see 6555 and 6440. Today being expiry suggest you to avoid trading in Nifty.

Top pics for the day are Yes Bank, Arvind, ACC, Colgate,DRreddy, Lupin and MCDowell for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com. Suggest to trade light on expiry day.

Broader outlook and stocks for March 26th, 2014

Nifty hit record high both on intraday as well as on closing basis but has closed with small gains. PSU's gained today and heavyweights Relianace and ONGC have opened low and closed at same level which is not bad

Shorterm Term
We have stayed above 6570 for second day as stated below and it is good for market. Upside is still intact even though we may see some aberations because of Expiry and my opinion will not change and will remain same as it is yesterday. Nifty is heading towards 6700 if it stays above 6570  and weaknes can only be seen  below 6480 and if it can stay  for few days it could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days.

Intraday Levels
As indicated by cues we may see positive flat opening and if it can trade above 6600 we could see 6615 and 6630 and below 6570 we could see 6555 and 6440.

Top pics for the day are CESC, Siemens, BharatForge, JindalSteel, Bhel, Auro Pharma and REC for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for March 25th, 2014

Indices surged to record closing high after the government exceeded its  asset sales target for this fiscal year and as investors bet that the BJP led NDA will be able to form the next government at Centre. FII Bought INR 1465.62 crs and DII Sold INR 770.39 crs.

Shorterm Term
Told you yesterday "support at 6480 is still holding which is important support zone and  We are in a zone for a week and I think time has come for a big move either side". Look at the move we have seen, now we need to stay above 6570 for one more day for a move to 6700 and weaknes can only be seen  below 6480 and if it can stay  for few days  could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days.

Every time Nifty has made a lifetime high we have seen some correction and this could happen today, but it may not be substantial but we could see some correction. We may see some action in oil producing companies.

Intraday Levels
As indicated by cues we may see positive flat opening and if it can trade above 6585 we could see 6600 and 6615 and below 6570 we could see 6555 and 6440.

Top pics for the day are Reliance, ICICI Bank, HDFCBank,Yesbank, Havells, GodrejInd, Auro Pharma & JSWSteel for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.co

Broader outlook and stocks for March 24th, 2014

Nifty registered  small gains after moving in a narrow range in intraday trade on Friday. Tyre stocks moved up and is best performing sector otherwise it has been lackluster day, but we have seen good trading opportunities in selected. Let us not consider trading on Saturday as it is for very short period without any major participation.

Shorterm Term
Support at 6480 is still holding which is important support zone and I strongly feel a strong close below this level could see some short term correction which is good for the market. We are in a zone for a week and I think time has come for a big move either side, but my bias is for downside. Below 6480 for few days  could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days. On the higher side Nifty should close above 6570 to reach 6700 and it is not easy to reach, but for the very short term Nifty above 6520 we could see 6560 levels.

Intraday Levels
As indicated by cues we may see positive opening and if it can trade above 6520 we could see 6535 and 6550 and below 6480 we could see 6465 and 6450. IT and Pharma could see some action as stated in my previous outlook.

Top pics for the day are AxisBank, JSWSteel, TataSteel, Adani Ent, Lupin, Glenmark  and Zeel  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for March 21st, 2014

Nifty closed lower at 6483 on concern foreign capital inflow will slow after the US Federal Reserve further reduced monetary stimulus for the US economy and signaled US interest rates will be raised, but FII's were still buying. FII Bought INR 722.02 crs and DII Sold INR 563.29 crs.

Shorterm Term
Nifty is weak yesteraday as expected but closed above 6480 which is important support zone. Closing below this could lead to 6417 and 6350. Major trend change can only be seen if Nifty closes below 6350 for two days. On the higher side Nifty should close above 6570 to reach 6700 and it is not easy to reach, but for the very short term Nifty above 6520 we could see 6560 levels.

 PSU banks and other rate sensitivies are weak and have corrected on intraday basis and will consolidate at this levels and we will see some bounce back in some of the sectors which has corrected.

Intraday Levels
As indicated by cues we may see positive opening and if it can trade above 6517 we could see 6532 and 6550 and below 6480 we could see 6465 and 6450. IT and Pharma could see some action in few days.

Top pics for the day are TCS, AxisBank, BPCL,Auro Pharma, M&MFin, Colpal and Bajaj Auto  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and levels for March 20th, 2104

Indian markets settled marginally higher ahead of commentary about monetary policy from the US Federal Reserve later in the global day.FII Bought INR 1069.74 crs and DII Sold INR 610.96 crs

Shorterm Term
Outcome of fed minutes was not very encouraging as it has decided to furthur reduce bond buying by 10 Billion $.Nifty is weak below 6480 for very short term and 6350 for shorter tem are important levels to watch for.

Intraday Levels
As indicated by cues we may see negative opening opening and can trade for long above 6517 if trades for some time for 6535 and 6550 and lower side below 6480 for 10 minutes we could see 6465 and 6450.

Top pics for the day are BataIndia, AxisBank, Asian Paints, CentText, Biocon, TCS and Petronet  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and Stocks for March 19th, 2014

Markets hit their highest closing level in almost a week, but at higher levels are still offering resistance on Nifty. Closing was 60 points off the high and 20 points off the low. India VIX is higher by 4% and this shows we are due for some major movement in the market.

Shorterm Term
As stated in my previous blog Nifty found resistance at 6570 and has reversed and it should cross this level strongly for any major up move and it did not happen. We are seeing tiredness in major indicators even though bulls were trying to pull the market up we may see pressure.

If Nifty  can trade above 6570 for 2 days we may see good move on the other side it is weak below 6417 for short term and 6350 for medium term are important levels to watch for. But as of now for the short term the trade is only for long side and suggest not to short till we see weakness in the market.

Intraday Levels
As indicated by cues we may see positive opening and can trade for long above 6540 if trades for some time for 6555 and 6570 and lower side below 6520 for 10 minutes we could see 6505 and 6490.

Top pics for the day are IndusInd, SunTV, Bank India, RECLTD,Havells,Tata Motors, Lupin and HCLTech for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for March 18th, 2014

I am back after a week long vacation and market hasn't moved 

A strong intraday rebound in late trade on Friday took the Nifty to positive zone from negative zone on last Friday. The market sentiment was boosted by the latest data showing that inflation based on the WPI eased to a nine-month low last month.  FII Bought INR 982.19 crs and DII Sold INR 866.42 crs.

Shorterm Term
Nifty bounced back to above 6500 from 6432 is very positive, below 6417 for very short term and 6350 for shorter tem are important levels to watch for, but Nifty is very strong and has moved up and next resistance is at 6570 and is a key level to watch for. But as of now the trade is only for long side and suggest not to short till we see weakness in the market.

Intraday Levels
As indicated by cues we may see small gap up and can trade for long above 6540 if trades for some time for 6555 and 6570 and lower side below 6520 for 10 minutes we could see 6505 and 6490.

Top pics for the day are Crompton, Auro Pharma, AdaniEnt, Maruti, BhartiAirtel  and LT for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook for March 10th, 2014

Markets surged to record high, driven by sharp gains in domestic-focused sectors banking, realty, construction and capital goods based on expectation that NDA will be able to form government at at center.  Nifty struck record high above 6,500 and closed above 6526.

Shorterm Trend
Nifty crossed met my target of 6480 and there seems to be no retur back levels and is in a strong up move defying gravity and is heading towards 6700 target which is election target, I dont have any short term up targets for uptrend but for very short term below 6415 we could see 6350 , but not less than. Market is extremely overbought and I except a small correction from current levels. What is important for medium term is 6350 which should be sustained for this trend to continue and if it does not we may see previous lower levels.

Intraday Levels
As indicated by cues we may see small gap down as indicated by global cues and some how not comfortable by this huge move. Nifty is buy above 6525 for 6540 and 6555 and sell below 6480 for 6465  and 6450.

Top pics for the day are HDFCBank, BhartiAirtel, AdaniEnt, Maruti, TechM, Auro Pharma and LT for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Pivot Levels

Broader outlook for March 7th, 2014

Markets surged after data released by the RBI after trading hours on Wednesday showed that India's current account deficit declined sharply in Q3 December 2013 and it is highest ever closing for Nifty at 6401.The market sentiment boosted by data showing that foreign institutional investors have bought heavily yesterday with INR 1272.93 crs and as ever at highs DII Sold INR 567.10 crs

Shorterm Trend
Nifty crossed all resistances and we have closed above 6400  and well above 6350 which has been strongest resistance since last one year as we have seen correction heavily from these levels to swing low levels, but if we can stay above 6400 for second day we are destinated to got to higher levels of 6480 and for elections target of 6700 which may not be one way. Weakness can only be seen for short term if we close below 6350 for few days for 6300 and 6240  levels.

What we have seen  is broader rally across sectors and non F&O stocks started moving up which have been lagging since long. The trade is long and it is better to identify stocks which are not in fancy for quite some time, and is required for this rally to sustain at these levels. All cyclicals are moving up and we have non fancy reality sectors also going up. We may see market consolidating at this levels, but stocks will move up

Intraday Levels
As indicated by cues we could open gap at around 6430 which is all time high and if Nifty can trade above 6425 for 15 minutes we could see 6440 and 6455 and on the lower side below 6400  we could see 6385 and 6370. Please keep a eye on previous all time high of 6415 which it has met in Decemeber, 2013.

Top pics for the day are RelInfra, JSWsteel, Havells, DLF, Heromotors, BhartiAirtel, Tata Motors and BHEL for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Commodity Trend
Would look to Buy Gold and Silver, sell  Crude and Natural Gas but  suggest to buy/sell based on levels in live market and my above outlook is only based on broader trend based on previous days data

Pivot Level

Broader outlook for March 6th, 2014

Markets edged higher in choppy trade after a survey showed that private sector output across India rose for the first time in eight months during February and that Indian services companies maintained their positive outlook for output growth over the coming year and closed at 6328 which is below 6340. FII Bought INR 185.61 crs and DII Sold INR 344.50 crs

Shorterm Trend
Nifty crossed went past minor next resistance at 6312 and this uptrend is valid as long as Nifty stays above 6240 and if break this level for two days we could see 6180 and 6100. Next major resistance is at 6350 which has failed to cross many times on closing bases and has reversed to very low levels every time it crossed and I think we have reached short term swing high and any move to further highs depends upon with a confident close above 6350 for all time high levels and follow global trend of reaching 52 week highs in most of the markets.

We are in half way in election rally from 5930 which is recent 6 months low and we have moved by 400 points and on the way to reach 6700 in next two months if things pan out as expected in elections. I am sure this rally will not be one way move and should stay above 6400 for any high levelsa we are due for mild correction technically as market is overbought from these levels and that may come from 30 - 40 points higher from now, but is due shortly.

Intraday Levels
As indicated by cues we could open gap at around 6350 and if Nifty can trade above 6250 for 15 minutes we could see 6365 and 6380 and on the lower side below 6330  we could see 6315 and 6300.

Top pics for the day are BhartiAirtl, BankBaroda, Can Bank, Lic Hsg, Sun Pharma, Bata India and TechM for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Commodity Trend
Would look to sell on Bullion(GOld and Silver) and Energy(Crude and Natural Gas) and Buy  Metals but  suggest to buy/sell based on levels in live market and my above outlook is only based on broader trend based on previous days data

Pivot Level

Broader outlook for Feb 5th, 2104

Markets reversed Monday’s losses with the Nifty hitting the 6300-mark intraday for the first time since January on rally in global peers following easing tensions between Ukraine and Russia after Russian troops reportedly were ordered back to their bases.FII Bought INR 185.61 crs and DII Sold INR 344.50 crs.

Shorterm Trend
Nifty crossed 6240 and 6280 and closed at 6297 after hovering around this 6300 most of the day and has next resistance at 6312 and this uptrend is valid as long as Nifty stays above 6240 and if break this level for two days we could see 6180 and 6100. Next major resistance is at 6350 which has failed to cross many times and has reversed to very low levels every time it crossed and I think we have reached short term swing high and any move to further highs depends upon with a confident close above 6350 for all time high levels and follow global trend of reaching 52 week highs in most of the markets.

Intraday Levels
As indicated by cues we could open gap at around 6330 and if Nifty can trade above 6230 for 10 minutes we could see 6345 and 6360 and on the lower side below 6315  we could see 6300 and 6285.

Top pics for the day are SBIN, ICICIBank, LT, Tata Comm, YesBank, SSLT and CentTextile for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Commodity Trend
Would look to sell GOld, Crude and Natural Gas and buy Nickel and Copper Bullion to move up along with Crude and Natural gas where as would like to sell Metals but suggest to buy/sell based on levels in live market and my above outlook is only based on broader trend based on previous days data

Pivot Levels

Broader outlook for Feb 4th, 2014

The market snapped five-day winning streak on the first day of the week, tracking weakness in global peers as investors remained cautious over rising tensions in Ukraine. Gains in crude oil prices also weighed on the sentiment on the domestic bourses. FII Bought INR 198.53 crs and DII Sold INR 1566.31 crs.

Shorterm Trend
Nifty close below 6240, and reached 6221 and as of this uptrend is intact and if we were to move do we need to close below 6183 which is 50 DMA and 6170 which is 100 day DMA and so not easy to breach. Nifty should close above 6240 for any move back to recent highs for 6280 and has next resistance at 6312 and this uptrend is valid as long as Nifty stays above 6180 and if break this level we could see 6140 and 6100.

Told you yesterday that we may see ripples as we are seeing over bought situation and we may see consolidation at these levels. IT has seen correction which is not good indication and we may see further correction but it is not for shorting, it is only to buy more at lower levels.

Intraday Levels
As indicated by cues we could open flat and if Nifty can trade above 6245 for 10 minutes we could see 6260 and 6275 and on the lower side below 6215  we could see 6210
and 6195.

Top pics for the day are Maruti, Hero Motors, Titan, TataMotors, AdaniEnt, Tata Global and Relinfra for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Commodity Trend
Expect Bullion to move up along with Crude and Natural gas where as would like to sell Metals but suggest to buy/sell in them  based on levels in live market and my above outlook is only based on broader trend based on previous days data.

Pivot Levels

Broader outlook for March 3rd, 2014

Nifty edged higher on the first of the new series and last day of the month and closed at 6276. FII Bought INR 591.82 crs and DII Sold INR 12.02 crs

Shorterm Trend
Nifty crossed 6240, and reached 6280 which is a minor resistance and it seems we are going to see consolidation at these levels before seeing any new move and the type of data we have seen in India and China is not good and we may see some weakness also from Ukrine issue as it is esclating into a major issue. Nifty has next resistance at 6312 and this uptrend is valid aslong as Nifty stays above 6180 and if break this level we could see 6140 and 6100. We may see this happening with the type of support we are getting from particpants and only caveat is Ukrine issue which could create ripples in the market.

Intraday Levels
As indicated by cues we could open flat to negative and if Nifty can trade above 6280 for 10 minutes we could see 6295 and 6310 and on the lower side below 6240 for 10 minutes we could see 6225 and 6210.

Top pics for the day are   ICICI Bank, Biocon, TCS, TechM, Maruti and Sun Pharma for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Commodity Levels
I expect bullion to be neutral, neutral in metals(buy in Nickel) and Buy in crude and natrural Gas but suggest to buy/sell in them  based on levels in live market and my above outlook is only based on broader trend based on previous days data.

Pivot Levels