This week market may rise with high volatility.
Last week Sensex gained 451 points or +2.30% to 20045 and Nifty gained 134 points or +2.27% to 6018 in the week ended 24-9-2010. Last week we saw high volatility in the market. Still retail investor is waiting for correction. No one looks happy with 32 months new high, because this time rally is stock specific, so retail investor is waiting for their stock's price rise. Now we can see slowly nifty is rising towords 6336 to its previous high. Since 4360 we are telling market is in bull side. Dont panic. and here we see nifty may cross 6300 and more if this style is maintained. This is the last week of F&O Volatility may increase and market may show stock specific movement. Take care of your positions.
KEEP STRICT SL IN EVERY TRADE NOW FOR NEW POSITIONS AND KEEP SL IN SYSTEM NOT IN MIND.
BEFORE YOU TRADE ON SYSTEM FIRST DECIDE THE SL AND THEN ONLY TRADE.
| INDEX | LAST WEEK 24-09-2010 | PREVIOUS WEEK 17-09-2010 | PERCENTAGE % (+/-) | POINTS (+/-) |
|---|---|---|---|---|
| SENSEX | 20045.18 | 19594.75 | +2.27% | +451 |
| NIFTY | 6018.30 | 5884.95 | +2.30% | +134 |
Activity of institutional investors is likely to determine the future trend in the market which is at multi-months high. High volatility will be the hallmark with derivatives expiry lined-up during the forthcoming week.
Buying spree by foreign institutional investors' (FIIs) triggered a solid recent rally on the Indian equity bourses. FIIs pumped Rs 18,649.23 crore in equities till 24 September 2010, trumping an inflow of Rs 11,687.50 crore in August 2010. Their investment in the calendar year 2010 totaled Rs 38,144.33 crore.
On the other hand, domestic institutional investors' (DIIs) offloaded equities worth Rs 8,604.46 crore in the month so far, with their annual outflow pegged at Rs 7,236.04 crore.
Volatility may hit the roof as September 2010 series futures & options contacts are set for expiry on Thursday, 30 September 2010.
Profit booking after a four-week rally which propelled the key benchmark indices - the BSE Sensex and the S&P CNX Nifty to 32-months high above the psychological 20,000 and 6,000 levels respectively cannot be ruled out.
Auto, cement and steel stocks will be in action following the release of monthly sales figures for September 2010.
All eyes will be on the outcome of highly sensitive Ram Mandir-Babri Masjid verdict from the Allahabad High Court. The Supreme Court on 23 September 2010 ordered the lower court to delay a potentially explosive verdict on whether Hindus or Muslims own land around the demolished Babri mosque in Ayodhya. The top court will now hear an appeal for a stay on the verdict in the 60-year-old case on 28 September 2010.
Globally, the economic data on durable-goods orders and sales of new homes will be closely watched to gauge the progress of the US economic recovery. (Data Source: Capitalmarket)
NIFTY WEEKLY CHART
WEEKLY NIFTY SUPPORT 5945 AND RESISTANCE 6060
NIFTY FUT. (6035)
Buy above 6061 Target ????
Sell below 5940 Target ????
For SL and Targets Levels - SUBSCRIBE Nifty Calls AT : www.marketcalls.net
and enjoy many more things.... (See Subscribe menu to subscription details)
-Always Remember, put SL in your every trade.
- Weekly Levels are Closing Basis, so follow on clsoing time.
-How to follow our calls on Click Here
-Read Disclaimer at Click Here
Rupesh Yatesh Dalal
Head Research Team
www.marketcalls.net
