Broader outlook and stocks for April 30th, 2014

Nifty fell for the third day in a row triggered by the India Meteorological Department, announcing that the country will likely get below-normal levels of monsoon rain this year and also based on valuations concerns ahead of key results season.  FII Bought INR 287.98 crs and DII Sold INR 550.89 crs

Shorterm Term
Nifty came down by 40 points after flat opening and is below key support level of 6740(20 DMA), but we may see some bounce but will find resistance at 6740 and key levels to be watched is 6700 which is minor support and 6650 which is strong support. If we close below 6650 for two days I am sure we are  going to see lowere levels of 6550 and 6500. We can go long only if we stay above 6740 for todays for 6810 and 6890.

Banks are looking weak again and Banknifty may not reach its target of 13600, but where as CNX IT is flat since quite some time and I am sure we will see a big move very shortly either, but my bias is upside.

Intraday Levels
We are going to see positive opening, but not sure we can go long in this market till we are above 6770 and suggest sell on rise market till then. If Nifty trades above 6770 we could see 6795 and 6810 and if Nifty crosses above 6740 and comes down I would sell for 6725 and 6710.

Top pics for the day AdaniEnt, RelInfra, TataSponge, SPARC,TataSteel, JindalSteel, Hexaware, BajajAuto and BankIndia  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for April 29th, 2014

Nifty edged lower for the second day in a row triggered by the IMD announcing that the country will likely get below-normal levels of monsoon rain this year. We have seen lesser participation by FII and they  Bought INR 77.02 crs and where DII Sold INR 370.53 crs

Shorterm Term
Nifty came down by 20 points, but is still above 6740 which is 20 DMA and below 6770 even if it breaks it should trade atleast for 2 days below this level for any decisive move towards downside. Nifty has good supports in levels between 6730 - 6770 and not easy to break down these levels and so will maintain my SL at 6720 for a target of 6880 and 7000 and people can enter market at current levels if some one has missed this rally  and Banknifty is going to be star as we may see 13600 levels in next one week.

Intraday Levels
We are going to see flat opening and expect Nifty to trade in a range till some time. If Nifty trades above 6790 we could see 6805 and 6820 and below 6740 for 5 minutes we could see 6725 and 6715.

Top pics for the day are Cipla,Havells, Tata Chem,  Wockpharma, IBULHSGFIN,Asian Paints and ACC  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for April 25th, 2014

Nifty made a fresh new high and with FII's still buying may be less when compared to first 2 weeks of buying but we are heading towards higher highs based on Investors are betting that the BJP led NDA will be able to form the next government at the centre with support from some regional parties after Lok Sabha elections which conclude in mid-May this year. FII Bought INR 767.61 crs and DII Sold INR 533.88 crs

Shorterm Term
Nifty is again gaining strength and is moving towards 6900 even though I feel 6880 is going strong resistance. I strongly feel u can continue to hold on to position.What is important is 200 day DMA is at 6110 which is almost 700 point from it which is not good technically, but as we are in a strong momentum we cannot expect any major fall till May 16th, if it does we could see levels of 6300 levels if market sees major surprise politically.

I am holding my Nifty buy at 6770 for 6880 with SL of 6730 and is now sitting on profit of 70 points and heading towards first target and nifty will become weak only if it trades below 6770 for 2 days which is unlikely to happen as we are in a super bull market. Market is a buy on dips as we are seeing buying at every low levels and Banknifty is going to be star as we may see 13600 levels in next one week.

Intraday Levels
We are going to see small negative opening, if Nifty trades above 6840 we could see 6855 and 6870 and below 6800 for 5 minutes we could see 6785 and 6770.

Top pics for the day are KotakBank, ICICI Bank, Bank of Baroda, SBIN, Mothersunsumi, AmbujaCem, BHEL, Titan and Cairn  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and Stocks for April 23rd, 2104

Nifty ended almost unchanged for the day, giving up initial gains that took them to record high.The market breadth, indicating the overall health of the market, was positive. What we have observed we are not seeing FII's pumping money into market like they were doing earlier.

Shorterm Term
Nifty is trading above key support level of 6770, but did not moved yesterday either way and closed flat with 2 points less, This is because of less participation of FII's, I am sure we are going to see a clear trend in next 10 days as we are trading in a range of 150 points since last 2 weeks. My target is intact and is destinated to move to 6900 and ultimate target of 7200 with SL of 6730, on the downside below 6660 levels we could see 6550 and 6460 levels with SL of 6730

We are going to see lot of action now in Bank Nifty and can go to 13600 with the type of momemtum we are seeing it seems to be possible in next 2 weeks. Market is a buy on dips as we are seeing buying at every low levels. What is dissapointing is CNX IT which is reversing and it seems to be looking even further lower levels, but oil sector is doing good.

Intraday Levels
We are going to see flat opening, if Nifty trades above 6840 we could see 6855 and 6870 and below 6800 for 15 minutes we could see 6785 and 6770.

Top pics for the day are Lupin,LICHousing, TechM, BPCL, LT, Glenmark, OIL, ApolloTyre and Auro Pharma for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com. . Suggest to trade with caution as we are on Expiry day.


OIL is good above 500 and Auro Pharma is looking weak below 542 for the day.

Broader outlook of Market and Stocks for April 22nd, 2014

Nifty edged higher on the first trading session of the week to new all time high, with market sentiment boosted by data showing that foreign funds remained net buyers of Indian stocks and we are seeing buying at every low levels lead by banking especially PSU banks. With likely happening of NDA coming to power we are seeing continuous rally and every correction is used as oppurtinity to buy.

Shorterm Term
Nifty is trading strong above key level of 6770 for second day and it is on the way for first target of 6900 and ultimate target of 7000+. Traders can go long for a target of 6900 and 7000 by keeping a stop loss of 6730 and on the other hand below 6660 levels we could see 6550 and 6460 levels. The upward trend is still intact and is destinated to 7000 atleast by mid of Next month.

We are going to see lot of action now in Bank Nifty and can go to 13600 with the type of momemtum we are seeing it seems to be possible in next 2 weeks. Market is a buy on dips as we are seeing buying at every low levels. What is dissapointing is CNX IT which is reversing and it seems to be looking even further lower levels.

Intraday Levels
We are going to see flat opening, if Nifty trades above 6840 we could see 6855 and 6870 and below 6800 for 15 minutes we could see 6785 and 6770.

Top pics for the day are ICICI Bank,IDBI, GodrejInd, LT, M&M,JSWsteel, KarurVysya and Wipro  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and levels for April 21st, 2014

Nifty jumped after government bond prices surged after the RBI sold the Rs 20000-crore worth of debt on offer, accomplishing the country's biggest-ever auction and also based on international cues.

Shorterm Term
Nifty took very good support at 6600 as stated in yesterdays comment, had made huge rally of 104 points even though it has good resistance at 6770 it closed above this level and It need to close above this level for one more day for it to move to 6900 and 7000 levels, but on the other side Nifty trades below 6660 levels we could see 6550 and 6460 levels. The upward trend is still intact and is desalinated to move above 7000 atleast by mid of next month.

Intraday Levels
We are going to see flat opening, if Nifty can trade above 6795 we could see 6810 and 6825 and below 6770 for 15 minutes we could see 6755 and 6740.

Top pics for the day are Arvind, Apollotyre,TCS,ICICI Bank, Hero Motors,SKSMicro,Tata Global and JublFood  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader putlook and stocks for April 17th, 2014

Nifty is bearish after long time and moved down by 53 points to close at 6675 after making a low of 6660 after expected weakness in monsoon and profit booking. FII Sold INR 44.69 crs and DII Sold INR 347.70 crs.

Shorterm Term
Nifty is looking weak after long time, but we have support at 6660 which is 20 DMA from which it took support yesterday, we may see this weakness for a day or two, but what is important is if we stay below this range for two days we could move to 6550 which is a major support and if we trade above 6770 for two days we can move to 6900 and 7000.

Intraday Levels
We are going to see positive opening, but not sure this will sustain and key is it should not trade below 6660 for more than 10 minutes, if it does we could see 6645 and 6650 and if Nifty can trade above 6700 we could see 6715 and 6730.

Top pics for the day are AdaniEnt, KPIT, Adani Port, HCLTech, ACC,  JublFood, DRReddy and CentTextile  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for April 16th, 2014

Increase in global crude oil prices and weak domestic macroeconomic data weighed on Indian stocks on the first trading session of the week. The market breadth, indicating health of the market was negative.  FII Sold INR 21.63 crs and DII Sold INR 278.27 crs.

Shorterm Term
What we have seen is Global markets are okay, but India market is not looking good and it has decoupled it self from other markets based on local events it could be because of elections and also because of local economic data which is still looking bad.

India VIX is trading high at 32 which indicates we will see more volatality. Nifty next target is 6900 and later to 7000, if Nifty can stay above 6770  and below 6650 we could see 6570 and 6500.

Intraday LevelsWe are going to see flat opening, but is looking weak and it is trade for negative bias. I prefer to buy into pharma and IT, where as look to short in Banking and cyclicles like reality and metals. If Nifty can be traded above 6750 we could see 6765 and 6780 and below 6710, it can go to 6695 and 6680.

Top pics for the day are Tata Comm, TCS, MCdowell, HeroMotors, Bharti Airtel, DLF, YesBank and IndusInd  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for April 15th, 2014

Nifty edged lower in choppy trade on the last trading session of the week after the latest data showed that India's merchandise exports fell for the second month in a row in March and also because of profit booking before IIP data release which is due towards end of the day on Friday. FII Sold INR 362.29 crs and DII Bought INR 364.92 crs.

Shorterm Term
We did not have a good closing as we have seen profit booking towards end of the day and many stocks have corrected. With Infy starting with its results, we will see IT doing well this week as other IT majors will comeout with results. India VIX is trading high which indicates we will see more volatality.

Nifty next target is 6900 and later to 7000, if Nifty can stay above 6770 for second day and below 6650 we could see 6570 and 6500.

Intraday Levels
We are going to see positive opening with gap down, we are going to see some action in IT sector. If Nifty can be traded above 6811 we could see 6826 and 6842 and below 6770 for 10 minutes it can go to 6755 and 6740.

Top pics for the day are Tata Comm, HCLTech, TechM, CenturyTex, Biocon, STCIndia, AdaniEnt and AxisBank  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and Stocks for April 11th, 2014

Nifty had good opening and later market gave up all towards end of the day and closed flat and many stocks are looking weak. FII Bought INR 342.75 crs and DII Bought INR 13.45 crs.

Shorterm Term
We did not have a good closing as we have seen profit booking towards end of the day and many stocks have corrected. IT and Pharma is looking very weak and I expect weakeness to continue for today also. India VIX is at 30 which is normally indicates bottom, but we are at top and this happens rarely and very difficult to read.

Nifty next target is 6900 and later to 7000, if Nifty can stay above 6770 for second day and below 6650 we could see 6570 and 6500.

Intraday Levels
We are going to see negative opening with gap down and let us hope this will not continue and will gain later in the day, if we continue to trade in Red, there is chance of further fall in equity and index overall. If Nifty can be traded above 6800 we could see 6815 and 6830 and below 6770 for 10 minutes it can go to 6755 and 6740.

Top pics for the day are AdaniEnt, Relinfra,LICHsg, Crompton, Abirlanova, Auro Pharma, DRReddy, HCLTech and TechM for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for April 10th, 2014

Nifty is quite in the morning and suddenly took off to close above 6800 and close just below 6796 which is all time high based on BJP manifesto and also on IMF report on growth prospect of India in 2014-2015. FII Bought INR 1043.86 crs and DII Sold INR 463.78 crs

Shorterm Term
Told you yesterday that Nifty took support at 6650 and is ready to bounce, look at the bounce, but I never expected that the bounce will be so big. We have seen huge rally and what is above my 6770 level and so we are heading towards 6900.

What is alarming is VIX is at 27 and also most of the indicators are overbought, but when you are in a bull market these singals are tend to be ignored. Nifty next target is 6900 and later to 7000, if Nifty can stay above 6770 for second day and below 6650 we could see 6570 and 6500.

Intraday Levels
With US Fed not goint to increase interest rates is positive and we could open positive and Nifty can be traded above 6820 we could see 6825 and 6740 and below 6775 we could see 6760 and 6750.

Top pics for the day are IndusInd, Axis Bank, PNB, Maruti,TataMotor, Crompton, JustDial and TechM for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and levels for April 9th, 2014

Nifty opened well, but gave up all the gains and at some time is trading at 40 points loss, but recovered later to close flat. Bought INR 703.71 crs and DII Sold INR 1081.36 crs.

Shorterm TermNity took support at 6650 which I stated as support and so of now is valid and we see Nifty bouncing from these levels, but real change of trend can only be seen above 6770 for 6900 and lower side below 6650 we could see 6570 which is a major support. India VIX is at 25 which is alarming and the type of volatality we are seeing is clear indication of what is happening as we are seeing lot of moves in a range of 40 - 50 points.

Intraday LevelsAs indicated by cues we may see positive opening in Nifty  and Nifty can be traded above 6730 we could see 6745 and 6760 and below 6695 we could see 6680 and 6675.

Top pics for the day are RCOM, Ambuja Cem, Exide, Glenmark, Abirlanova, Star, Jindal Steel and SSLT for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for April 7th, 2014

Nifty had lowest closing in week ahead of elections as investor or cautious and booking profit. We have seen weakness in some of the major stock.  FII Bought INR 717.39 crs and DII Sold INR 716.57 crs.

Shorterm Term
Told you on 4th, that we have had small correction and see trend change till we see another 70 points correction and i see change of minor trend at 6650, if this beaks we may see 6570 and longs can be taken only above 6710 for 6770. India VIX is at high 22 which is ridiculous. But this trend is confirmed only if we see Nifty closing below 6560 and Nifty can be longed above 6770 for 6900.

Intraday Levels
As indicated by cues we may see flat to negative opening in Nifty  and Nifty can be traded above 6715 we could see 6730 and 6745 and below 6680 we could see 6665 and 6660.

Top pics for the day are Hindpetro,AdaniEnt, CentText,Yesbank, RelInfra, IOC, Dabur and Gail for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for April 4th, 2014

Nifty reversed direction after scaling record high after the result of a survey showed that business activity in the Indian private sector fell. Finally we saw a small negative close on eleventh day. This is definitely not looking weak but definitely on stiff resistance. FII Bought INR 717.39 crs and DII Sold INR 716.57 crs.

Shorterm Term
After 10 days we have seen a small dip and I dont read much into it unless we see another 60 - 80 points correction. India VIX is at high 22 which is ridiculous. I am repeating Nifty is weak only below 6570 for 6500 and 6420 and on the higher side 6900 is very much possible.

Intraday Levels
As indicated by cues we may see negative opening in Nifty after long time and Nifty can be traded above 6745 we could see 6755 and 6770 and below 6715 we could see 6700 and 6685.

Top pics for the day are JSWSteel, Colpal, Apollo Tyre, Jublfood, Coal India,  BHEL, OrientBank, SunTV and IndusInd for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and Stocks for April 3rd, 2014

Nifty hit record high on intraday basis as well as on closing basis and I am tired of saying the same. It is 10th consecutive upside close. The bulls are calling the shots on the bourses. Indian stocks extended their recent strong gains yesterday supported by US,Euro and Asian markets, FII Bought INR 594.67 crs and DII Sold INR 471.78 crs.

Shorterm Term
We are heading higher and there seems to be no real pressure on market to go lower. Some or other sector is taking leadership when ever we see weakness in the market and there seems to be no stopping.  and I am repeating Nifty is weak only below 6570 for 6500 and 6420 and on the higher side 6900 is very much possible.

Intraday Levels
As indicated by cues we may see positive opening Nifty trades above 6745 we could see 6755 and 6770 and below 6720 we could see 6705 and 6695.

Top pics for the day are RECLTD, RelInfra, OrientBank, Torent Pharma,SKSMicro, ITC and Asian Paints for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Broader outlook and stocks for April 2nd, 2014

Nifty hit record high on intraday basis as well as on closing high. It is 9th consecutive upside close. Though opened high, later gave up gains but closed good. FII's were still pumping money and they bought INR 385.66 crs and DII Sold INR 247.88 crs.

Shorterm TermIt is boring to say that Nifty is still above 6700 and I dont have any thing to say . There is no surprise from RBI and so market could remain range bound till we see results coming in next 1 week and also elections coming shortly. Nifty is weak only below 6570 for 6500 and 6420 and on the higher side 6900 is very much possible.

IT is picking up and I am sure Pharma will follow it and see banking and other cyclicals looking tired and may take back seat till some time. 

Intraday LevelsAs indicated by cues we may see positive opening Nifty can be traded above 6740 we could see 6755 and 6770 and below 6700 we could see 6685 and 6570.

Top pics for the day are HCLTech,Hexaware, Dabur,UPL,TataMotorDVR, BPCL and Heromotors  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Market outlook and stocks for April 1st, 2014

Nifty edged higher on last trading session of Q4 March 2014 and the fiscal year FY 2014, with the market sentiment boosted by data showing that FIIs made substantial purchases of Indian stocks.FII Bought INR 942.86 crs and DII Sold INR 611.22 crs.

Shorterm Term
Nifty is still above 6700 and we can see market in rangebound till some time and sectoral rotation will continue to happen. I see weakness in Market only below 6570. Nifty VIX is at 21.6 which is nothing but particpants are expecting volatality and if we see fall, we will definetly see fall in VIX. Technically I dont see any change of trend as of now and I dont have any level for upside. If we some positive surprise by RBI we could see 100 point upside.

Intraday Levels
As indicated by cues we may see positive opening and suggest not to trade till RBI policy is out. If Nifty 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 JSWsteel, ABB, Maruti, Arvind, IDFC, BHEL and Crompton  for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com. Suggest to trade light.