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NIFTY analysis for 08-03-2013 Nifty(daily)

Overview:

NIFTY trade in volatile and close at 5,889.40 with gain of

48.05 or 0.82% Over the previous day's close.

volume recorded at 10,277,300 share during a day which is

101% compare the 5 day's average volume and 104%

compare the 50 day's average volume.

On Derivative side, 428,800 shares added in open interest According to technical view for Short term Trader or

Positional players, NIFTY is trading Positive with the

Immediate support of 5,820. Major trend following Indicator

MACD is showing strength as it is trading above the signal

line. It may help to Pull the price higher. The Swing indicator

Stochastic looks Positive . Follow up Buying is only advisable

above 5,820 on a closing basis.

carry your existing Long position or Buy fresh above 5869with the SL of 5819 with the target of 5913-5980-6049.

Nifty has close at very crucial Point so Buy only if Itcross 5903 to gain more

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BANKNIFTY analysis for 08-03-2013 BANKNIFTY(daily)

Overview:

BANKNIFTY trade in volatile and close at 12,026.75 with gain of

104.40 or 0.88% Over the previous day's close.

volume recorded at 1,150,825 share during a day which is 84%

compare the 5 day's average volume and 73% compare the 50

day's average volume.

On Derivative side, 39,175 shares added in open interest According to technical view for Short term Trader or Positional

players, BANKNIFTY is trading Positive with the Immediate support

of 11,886. Major trend following Indicator MACD is showing

strength as it is trading above the signal line. It may help to Pull

the price higher. The Swing indicator Stochastic looks Positive .

Follow up Buying is only advisable above 11,886 on a closing basis.

Buy fresh above 11978 with the SL of 11,886.2 with the target of

12075-12212-12352

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My Trading Basket:

ABAN: carry your existing Long position or Buy fresh above 274.68 with the SL of 278.4 with the target of 277.0-280.1-283.3.

DLF: Buy fresh above 275.28 with the SL of 268.9 with the target of 280.4-283.6-286.8.

RCOM: Buy fresh above 63.32 with the SL of 64.2 with the target of 63.8- 64.5- 65.3.

HINDALCO: Buy fresh above 100.65 with the SL of 100.7 with the target of 101.5-102.7-103.8.

All the calls are purely based on technical .. You can book profit according to your trading plan or according to your Money management

rules please note that we should follow the strict Stop loss to cut our losses..Follow the SL on closing basis