Live Market

Friday, December 31, 2010


Dear Friends & Readers,
The Banknifty Future Monday view will be posted tomorrow evening....



Wish you all a bright and prosperous new year 2011.
I wish all of us must create wealth in stocks trading.
Let the market be in our favour.
Use all your
Efforts to achive
A new thing to the
New heights
From this new year-2011.

Regards,
Atmo

Thursday, December 30, 2010

Banknifty View for 31-12-2010


The banknifty opened mild gap up at 11680 and fell to 660 there on shoot up to 11739.95 level.it was days high and the day made a low at 11632.35 in after noon trade .We have done very mild trade as the banknifty was struck quit long time in 11710 level.it was almost directionless during that time.So we were waiting for a longer time to take a positions.
.
The Nifty has strong hurdle in 6100 level if move above 6112 the New rally may begin to touch new highs befor march 2011.One be alert full if remain in short in nifty above this level.
.
The Banknifty as we told in our earlier post find difficult to cross the 11770 level during closing it fell down near to 11640 about 100 points down from the days high.The lift up is happened due to the F&O closing..So the coming sessions the banknifty may struck in 11560-680 level.Once nifty cross above 6100 the banknifty also claim up to 700+levels.Today the banknifty spot broken down the 400EMA.So a down move also there if open gap down tomorrow.

Wednesday, December 29, 2010

Banknifty View for 30-12-2010


The Banknifty today was in fire.The opening we expected it may zoom and gone long in 11480 and kept our sl at 463 and it was hit and shoot upto 570.very unlucky today for us,it touched a high during market closing at 11640 level.
.
The nifty also moved up but the banknifty seems to be the backbone for nifty to float high.The banknifty was today in one directional move...though the selling was more still it could move up due to the huge roll over.
.
Now...The tomorrow is the F&O Closing and the rollover may bring unexpected jerks on both side.The Jna future now trading in about-60 points premium this shows as indication the short roll over is more.The 11 660-80 and 720 area is strong hurdle for its upmove above this level be alertfull.Trade mild with sl for both long/short.

Tuesday, December 28, 2010

Banknifty View for 29.12.2010


The banknifty yet another day crawled like a snail.The high made was 11510 and low was 11430..A very narrow range about 80 points.We attmpt 2 trades and made 70 points gain without sl hit.We does only very conservative trade today as the market tussle between bulls&bears.The F&o closing is very close by so the roll over and the year end profit booking made market in a kind of shallow moves.


So,Considering all these it may trade in sideways till f&o closing..but on thursday be watchfull as more roll over come it may act eratic.Our view now is the banknifty broke down the 11440 level and touched 11430 but the selling volume was too low...so a chance to move again up to 11570 level.Above 11600 now it become strong bull zone..now weak below 440 with volume and trade in 15-mins or more brings panic selling that may push it down to 11280 level.


The Nifty seems powerless and give no firm direction on either sides.its locked itself by hedgers heavily.

Monday, December 27, 2010

Banknifty View for 28-12-2010


The Banknifty Move today was like a snail crawling.We made gain in banknifty intraday about 70 points+ 40 points in intraday trading.The Banknifty held in sideways move the high made today was 11570 and low was 11450.The 11440 seems now a kind of support breaking down may lead to 11330/280 levels.On the upside it has strong hurdle in 11660 level, so it may swing sideways between 440 to 660 on the coming session


The nifty may weak below 5975 level.Today the nifty shown weakness and fell down to the 6020 level if tomorrow move above 6060 only confirm a firm trend reversal.The FII's buying seems to continue and may pumb another 5 billion dollars into our market.So the value buying is on the rise that may lift market once again.

Friday, December 24, 2010

Rs 5 lakh crore Corpus Investment in Stock Markets

Rs. 5 lakhs crore Corpus Investment in Stock Markets:-
This News triggered Sharp unexpecd bounce up Today.
The finance ministry has shot off a fresh missive to the labour ministry asking it to invest a part of the Rs 5 lakhs crore corpus of the employees’ provident fund savings in stock markets. This is a good symptoms for longtime investors.
We will post banknifty view on sunday night.

Thursday, December 23, 2010

Banknifty Pre-Market View


In our view the Nifty may sustain side ways as many wise people done so much hedgeing.if tomorrow move above 6030 level then the bulls take full control overl all index's.The banknifty may find down support at 11330 and trade up to 560 level.Above 11660 it will be strong up move upto 11720 level.
>>The above one we wrote yesterday about todays market..just check the banknifty made a high of 569 and fell down to 440 level.The day was very narrow and snail move...very much sideways and choppy.We could make a net gain of 70 points today as we made a very conservative trades.


In our view the Banknifty&Nifty may fall from the current levels slightly.The banknifty may find support at 11260 level and Nifty may come close to 5927 level and may trade in sideways.

The Inflation and the rise of Fuel & Essential commodities prices are worriying facts Now.The RBI governor himself is concerned that the inflation is not within control as the food grains & veg prices are shoot up contininually.

Wednesday, December 22, 2010

Banknifty&Nifty View for 23.12.2010


[ The Nifty touched the days high of 6019 and in 1 point it missed and lastly traded in 6014.90.It would have crossed this level today but failed in it,this may showing as tomorrow the nifty may weak or gap down opening. As the headging players are huge the Nifty faces hurdles on both sides.The market now in a kind of Transition Phase from bears to bulls.
Banknifty Now in its bulls run and may go near 11700 level if sustained well near 11680 about 1 hour or more it may move up to 11800 level.]
This above, we wrote in our yesterdays post about market today...today performance became almost close to our views.


The banknifty opened today near 11600 level we bought and placed sell at 679 and when it struck in 650 level we booked profit in 648..but it went to the days high of 11679.80.There on it fell slowly down to 11600 level where we sold and bought in 517..made 4 trades and 1-sl got triggered.overall we made around 70 points gain.


Today the market moved like a SNAIL as this caused the tuzzule between Bulls Vs Bears.The nifty came down to 5970 level and banknifty down to 450 level.

In our view the Nifty may sustain side ways as many wise people done so much hedgeing.if tomorrow move above 6030 level then the bulls take full control overl all index's.The banknifty may find down support at 11330 and trade up to 560 level.Above 11660 it will be strong up move upto 11720 level.

Tuesday, December 21, 2010

Banknifty View for 22.12.10

In our view the banknifty may open in gap up and try to rush up to hit the 11480 level..
This is what we wrote in yesterday's post about today market.That became true.That was happened today from the opening 11329 level it rose to 11480 in no time and sustained a while again good consolidation seen then took up to 11600 levels.


Today we missed a golden chance as we took long in the opening itslef and booked profits so soon...but the market touched the high of 11613 level and lastly traded in 11574.Our attempts of short in 570 level gave us little gain twice but at last we went short and covered it at marginal loss.We told it find difficult the cross 11480 level, but today banknifty shoot up as the nifty was witnessed huge buying.
In our view the Nifty will be very bullish beyond 6020 level..The Nifty touched the days high of 6019 and in 1 point it missed and lastly traded in 6014.90.It would have crossed this level today but failed in it,this may showing as tomorrow the nifty may weak or gap down opening. As the headging players are huge the Nifty faces hurdles on both sides.The market now in a kind of Transition Phase from bears to bulls.


Banknifty Now in its bulls run and may go near 11700 level if sustained well near 11680 about 1 hour or more it may move up to 11800 level.

Monday, December 20, 2010

Banknifty view for 21-12-2010


The banknifty may find difficult to cross the 11740 level.One can avoid long near this level.Once it cross the 11800 level it may act very bullish.In my view the banknifty may fall down from it 11600 level to 11400 level and trade side ways...if Nifty go beyond the 6020 level banknifty may move up aggersively...>> This is what i wrote in my friday's post.The banknifty opened today gap down in 11400 and fell down considerably..to 11274 level and again bounced up and crossed the day high 400 to 11444 and fell down to new days low to 11260 and that was the days low cum last traded price.
.
We made about 147 point gain in intraday banknifty trading.In our view the banknifty may open in gap up and try to rush up to hit the 11480 level..if fails to move above this level again it may fail the bulls hope and fall down upto 11160 level.Now this 11170 area seems a critical support and broken by any means will add panic selling.
.
Today Nifty opened in gap down at 5900 and able to touch a days high of 5999.That shows the bulls are ready on the shore to catch the fish.Be watch full in 6020 level market may zoom up..Avoid shorts when cross this level.
.

Thursday, December 16, 2010

BANKNIFTY FUTURE, view for MONDAY


The banknifty and nifty on 16th rose to the hieghts during the market closing.We made a gain of 172 points in banknifty intraday trading.The banknifty fell down from the opening and agin sustained well.In the afternoon session it took up to the new day's high.This is due to the high tax out go.The SBI alone paid 1850 crores from its q3 -2009>1795 crores.The other banks the tax out gone up markably higher than the previous years.

HDFC Bank - 750 cr. from- 400cr.
ICICI - 450cr. from- 301cr.
HDFC - 400cr. from- 320cr.



The Rbi Repo rate is unchanged.The banknifty finding very good support in 11100 level again and again it bounces up.I wrote in my old post above 11470 banknifty is very strong.The monday market will decide the further trend as nifty closed near it resistance area (The day high was 5988), a jump up above 6015 may boost its speed to move to another high and it may find hurdle in 6100 level, above this it will be bullish zone. The new listed 'MOIL' is not upto the investors expectation.Huge selling pressure was seen in it..in monday there is a possibility of fresh buy comes in in this stock.It is a good company to hold for longterm beyond 3 years.


The banknifty may find difficult to cross the 11740 level.One can avoid long near this level.Once it cross the 11800 level it may act very bullish.In my view the banknifty may fall down from it 11600 level to 11400 level and trade side ways...if Nifty go beyond the 6020 level banknifty may move up aggersively.It is safe to trade always with proper SL.

Tuesday, December 14, 2010

View For !5-12-2010


The Banknifty floated well in 11600 level.Though it touched the days low 11470 and again touched days new high of 11675 and lastly traded in 11574.


The Banknifty now strong above 11640 level one should not remain short if move ahead of this level and will be weak below 11470 level.Last 3 days the banknifty sustaining well in 11400-600 level and it seems its ready to explode to 11800 again.


The Nifty now struck in range bound and unable to move fast above its resistance area i.e. 5990-6015.if Move above this level it may lead all the index's to further hights and the present correction will be suspended.

Where is the Indian stock market headed?


Mehrab Irani
The Indian market is undergoing a secondary correction, after which it will be headed much higher

The markets have been correcting over the past few weeks and lot of traders and investors are asking themselves the question whether the bull market is over or if it is just a temporary pause and correction in the overall bull market. The Nifty made an "intermediate top" at 6,339 which was very close to its all-time high of 6,357 touched in January 2008. From there it corrected to 5,690, then bounced back from those levels to 6,080 levels and fell to below 5,800. Today it closed above 5900. What next?


Well, we are working with the assumption that while Nifty has resistance around 6,357 which is its all-time high and the index can fall all the way to 5,350, a new journey for the market has begun a few months ago which will take it to much higher levels over the next few years-a target of 30,000 to 50,000 on the Sensex over the next three to seven years is imaginable and achievable. The market has chosen to correct first before the upmove after hitting 6,330 in early November. This is a "secondary correction of the primary bull market" which generally takes off anywhere between 33% and 66% of the previous primary upmove.


The Nifty has formed certain bearish formations like "three black crows", of which first is a "bearish engulfing pattern" and "dark cloud cover" on the weekly charts, "evening star" on the long term monthly charts, in the process of forming a "high wave candle" on the long-term quarterly charts, "black turnaround line" on the weekly three-line break charts, conversion from yang (thick bullish) to yin (thin bearish) line on the weekly 4% kagi charts, breakdown of price oscillators (RSI, ROC, MACD, KST, DI, Stochastics), fall of the 50-day MA, and so on.

The secondary correction will have a first target of 5,650 on the Nifty (18,800 on Sensex) which is a reasonable support (falling window). That is the level when the Sensex had hit the lower circuit in January 2008 and which was the beginning of the previous bear market. Without going into detail, looking at the chart patterns, candle sticks, neo-classical wave, time series analysis, retracements, trendlines, MAs, oscillators, etc, if the 5,650 level does not hold then the next support is at 5,350 and the final support-as it could go down further-is 5,050 (17,200). If for whatever reason the level of 5,050 is not held on the Nifty, which I personally don't believe will happen, then we have to question the validity of our assumption of it being a "secondary correction" of the primary bear market. At every major support level, that is 5,650, 5,350 and finally 5,050 we have to look at "bottom formation" patterns on the charts. However, once this secondary correction is over, the primary bull market will resume, which will have a first target of 7,000 (23,500) over the next medium-term.


The breadth has been very negative last week and lots of mid- and small-cap stocks have been butchered. The BSE Mid-cap index was trading at around 7,260, a level when the Sensex was at 15,600. It has major support around 6,300. Similarly, the BSE Small-cap was trading at 8,745 last week, which corresponds to the Sensex trading at 15,400. The BSE Small-cap index has major support around 8,000. The only positive thing in all the recent carnage is that the mid- and small-caps have corrected too sharp and fast, which is what happens during "secondary corrections" of primary bull markets. Now, the large-caps might correct somewhat over the next few days/weeks and then an "intermediate bottom" might be formed in the Nifty at close to the levels stated above.

To understand the current price movements more clearly, let us look at the 20-year chart of the Sensex. The Sensex was at around 690 in February 1990, from where a bull market began and it topped out at 4,650 in March 1992 (when the Harshad Mehta securities scam broke). Then it touched a bottom at 2,000 in March 1993 which was a bear market bottom. However, this was not the commencement of a new bull market. It then made another top at 4,615 in August 1994 and a cyclical bottom at 2,700 in December 1996. The real bear market bottom was made in October 1998 at 2,785. The new bull market which began there, took the Sensex to 6,175 in February 2000 where it topped out with the 'technology bubble'.


The Sensex crashed to 2,600 by September 2001 which was a cyclical bottom. The real bear market bottom was then made in August 2003 at nearly 2,900 from where the new bull market took it to 21,206 in January 2008. Kindly note, the four corrections in the interim, that is April 2004 (the Congress party victory in the Lok Sabha polls and formation of government with the support of the Left), October 2005 (small-caps bubble), April 2006 (mid-caps correction), and August 2007 (first news of sub-prime) were all secondary corrections within the primary bull market.


After making the bull market top in January 2008, it entered a corrective phase and made a cyclical bottom at 7,697 in October 2008 and the real bear market bottom at 8,050 in March 2009. From there on the new bull market commenced which made an intermediate top at 21,108 in November 2010. Currently, we are going through a secondary bull market correction which is likely to make a bottom somewhere between 18,800 and 17,200. And once the secondary correction bottom is in place, we will have a first target of 23,500 and then the longer-term target of anywhere between 30,000 and 50,000 over the next three to seven years.


Fundamentally, most of the factors remain long-term positive with the P/E at 15.2x FY2012 estimated earnings, which is at 9% premium to the long-term 10-year average, but below the peak bubble P/E of around 25x in January 2000 or January 2008. P/BV is 2.8x FY2012E which is at 15% premium to the long-term 10-year average, but ROE at 17.8% is lower than LTA of 18.7%. Market cap/GDP at 1.1x is not cheap, but below the peak of 1.8x in January 2008 and the earnings yield of the Sensex is 6.6% compared to an 8.1% bond yield (10-year GSec) and the earnings yield/bond yield is 0.81x as compared to the long-term 15-year average of 0.88x.


However, the major negative remains the high short-term interest rates. The yield curve from being steep a few months back has now in fact become inverted. Having said this, the positive factor is that the long-term (10-year GSec) yields have been in the range of 7.5% to 8.1% when short-term rates increased by almost 600 bps from 3% to 9% over the past few months. Hence, the short-term interest rates have risen too much, too fast. These kinds of rates are certainly not sustainable and they would come down. The peaking of interest rates might correspond with the end of the "secondary correction" in equities. Each asset class performs differently during different phases of the economic cycle. The general rule for different stages of an economic cycle and the preferred asset class during each stage is described below.
  • Interest rates peak and bond prices bottom out-preferred asset class GSecs.
  • Demand for credit declines-preferred asset class GSecs.
  • Central bank increases money supply-preferred asset class GSecs and corporate bonds.
  • Equities bottom out-preferred asset class equities.
  • Commodities bottom out-preferred asset class cyclical and commodity stocks/commodities.

Currently, we are in the stage where over the next few weeks/months interest rates are likely to peak out, bond prices should bottom out, demand for credit might decline at higher interest rates, The central bank will increase money supply and liquidity, which it is already doing daily through repos, and equities will bottom out. (That is, the secondary correction in equities which we are seeing currently will end.)


To conclude, a good strategy might be to shift funds from short-term money market instruments to long-term gilts/bonds or lock into long-term rates and keep funds ready to buy in the "secondary equity market correction" so as to benefit when the interest rates peak out and start coming down and equities resume their primary uptrend.


(Mehrab Irani is general manager, investments, with Tata Investment Corporation Limited. He has over a decade of experience in investment research, portfolio management and investment banking. The views expressed in the article are his own.)


Source:-http://www.moneylife.in/article/81/12167.html#

Friday, December 10, 2010

View For 11.12.2010


Today banknifty opened in gap down about 100 points and sustained well and shoot up to 11240 level from its opening11099.There on the Nifty shown strength and moved up...along with it,the Banknifty also start moving up..That too during its closing it rose to 11545 that was the day high and lastly traded in 11532.The days low was 11041. Almost 500 points up from the days low.Great recovery and some how the 11,000 level not broken.We consider,Still it is weak as it has to trade above 11580 to go to the bulls zone.


We have made good gain today in Banknifty.We attempt 7 trades and succeeded in 6 the profits made was 54+42+34+88+32+67-24(1-Sl hit) points.


The nifty took good support at 5830 level, today many times it came down near that level and gone to the days high of 5888. Lastly traded in 5874. That seems nifty can have better chances to shoot up.But,now moving above 5980 is only can be considered a positional long....till the time it may sustain side ways.Nifty may show weakness any moment as the 3-rd wave in place the nifty may fall down to 5525 level and bounce up.


The banknifty if open above 11580 there is a possibility of bulls run up to the 11900 level. if open gap down below 11420 there will be huge selling pressure on card...one can avoid long or do it with proper SL.

Thursday, December 9, 2010

View for 10-12-2010




The Day witnessed an un-expected twist.
We have recived desperate calls from many traders who were caught in banknifty-longs without SL and seeking what to do!!Many traders who made huge loss today in the index/scrips.We really feel sorry for all of them..A situation like this need a technical expertise.Many traders who make money just by fluke!!- in stock markets are now struck.The banknifty days low to high difference was 512 points.Very eratic down fall which no one could predict.Imagine if one would have gone long without SL....really would have lost so much. Trading banknifty without knowing it depth is too risky.
So,at present the conservative traders must stay away.On the other hand the investors need to pump fresh money to buy good stocks at low price and sit tight to hold it for long term.

Today banknifty opening was good,a mild gap up @11559 and touched the days high of 11614.When some rumours spread among traders that the 'PM may resign and the FII's selling pressure is huge as the plan to exit from all holdings!!'. I too recived the same message from some one in my chat...I don't know exactly,whether due to this factor the market fell down sharply?.

Anyway in my pre-market view, we have cautioned the banknifty break down 11440 level may take the index down to 10980 level.Today banknifty touched the days low of 11102 (the spot low was 11043).We managed to do 3 trades in banknifty and gained 72+27+123 points respectively without any sl hit.We have done all trade with sl luckily none was hit.Now the time is not to trade without SL.The banknifty lastly traded@11200.20. The banknifty future still trade in 60+ points premium.The above EOD chart says it broke all supports and closed weak so the bull has remote chance now to succed.The banknifty had strong support in 11128 levels and that was broken so it may further slides down.A hope to bull now is, if banknifty move above 11580level .

The nifty witnessed huge selling pressure as many scrips were fell sharply and touched new year low.This may happen due to margin pressure.Now it has critical support at 5550 levels.We need to watch this level carefully if broken a deeper correction is on card.

Today the CORE Projects marked a day's high of 293 and traded well in 240 level inspite of this panic selling the core projects stood well.The market always tend to surprises/shock every one!!

Wednesday, December 8, 2010

BANKNIFTY pre-market view for 9-12-2010


The Banknifty today opened very weak ie.gap down opening at 11735 and that was also the days high but this level it did'n't stand just fell down from the opening we went short.Today we made 145 points in three trade without any sl hit all our targets were achived in 5-10 mins time.A day was fruitfull,in the sense we gained without much strain as we could predict the level and went short/long accordingly.


The banknifty now took support in 11440 level.Today the days low was 11455.if 11440 break down tomorrow we have minor support at 41o both these levels broken it may free fall to 10900 levels soon.On the other hand considering todays closing ,the last traded price was 11514 so if open in gap up above 11580 may take it to 11700 levels.


The Nifty some what struck in range and a jump up also possible from the current level as the past 5 days it seems in a consolidation mode.


Many mid-caps stocks are available at new lows....This happening due to the Margin pressure of many financial institution and the fear of correction among traders made to sell and the selling pressure is heavy many fell down already.The real investors need to buy good value stocks which is now undervalued.Its a boon time for investors..As every other people sell out of fear we can buy it for longterm.

Tuesday, December 7, 2010

Banknifty Pre-market view for 8-12-2010


The banknifty opened today in Gap Down about 74 points from yeserday's closing price.The opening was 12020 and we sold it and covered it with about 70 points gain.There on it shown more weakness in 11880 level and fell down to 740 and we bought in 768 and sold in 11820.Agin we sold in 828 level with sl@847...luckily the sl was not triggered we covered the short in 764.All our three attempts were gave a total 180 point approx. We also covered our positional short in 11710 level,which we sold the other day in 12494 level.Considering the Nifty levels which seems to be in a range bound/consolidation to move up.As expected the nifty touched a new day high during its closing from its day low 5956 to 6021.70 level.The banknifty lastly traded in 11805.


The banknifty we forseen and wrote in our yesterdays post will be weak below 12000 and may touch 11780.It also broken that level and touched a day's low 11689 and closing was above 780 level. Now the situation is the 'CAT on the wall'.So there is a possibility of going beyond 12000 level and sustain there for another few sessions .Now the Nifty may jump up...!! if jump above 6o93 level,it may add fresh buying.We need to observe tomorrow first two hours to confim this up move.One can take position afterwards.


Many mid-cap stocks are now trading at low...there is a chance for good buying for longterm investors.every fall is a boon for investors.

Monday, December 6, 2010

BANK NIFTY FUTURE TIPS


Today banknifty opened firm in 12465 and touched the days high of 12479 and sustained side ways more than hours and now weakness was seen as nifty showed upmove.The nifty opened today gap up 6035 and moved up and touched a day high of 6094. In our view the 6093 was a hurdle for the upmove/pull back rally.It was struck there and slowly fell down day low of 5988.



The banknifty start falling faster than nifty and touched the days low of 12046 and lastly traded in 12061.The banknifty now took support in 12000 level if tomorrow it breaks this it may fall down to 11790 level.The Nifty now weak below 5960 level.Last week nifty and banknifty shown up move day by day and today happen to be the first day of the week it shown weakness and closed weak.The banknifty expected to be trade in side ways on the coming sessions...if nifty gather strength and move above 6100 will confirm a rally. The nifty seems in consolidation mode all these days so it may explode.On the other hand banknifty shown kind of maturity in 12400 as this level attarct positional selling the buying was low.So when the supply was more and demand is less it fall down...thats what happening. Apart from this the recent 'Housing scam' made a uncertainity in Bankning &Financial sectors.it caused fear among the trader to go long.

Thursday, December 2, 2010

Will It touch 12700 level?


The banknifty last 3 days gave a un-usual twist to reach the pinnacle.The trend is seems to be up&up. Today it touched high 12587. The Gap up opening from its previous closing 1358 to 12460...What a jump up!! Soon after its opening it shoot up to 12500 level and came down in the mid-session 12411 that was the day's low. Afterwards it consistently rose to 12500 and lastly traded 12539.The closing was very strong.
.
The Nifty today was stuck in a narrow cage about 40 points and sustained well in 6020 level.Almost traded the whole day side ways. The Market is now in the hands of bulls.The bear was beaten enough. Considering the last few sessions performance the banknifty possibly can touch 12700 level. Now it may weaken or attract more selling pressure, if fall down to 12420 level. In my perception it may touch 12280 and bounce up/sustain side ways.
.
Now avoid fresh shorts in Nifty...if move down to 5940 level one can go short with a S&R@6010 or wait for few more sessions to observe the direction to take any positional short/longs.
.
The 'MOIL' -IPO over subscribed that may pump fresh money into the market. Now The recent past many IPO's witnessed huge returns(Eg-COAL India Ltd) for the real investor's. So, the market and its 'corrective phase' is suspended for the time being!!
.

Wednesday, December 1, 2010

Will Banknifty gos further high!!!



We Expected a 'flat opening today ' and it did so.. but, our prediction went wrong as we expected a sideways trend.Markets beats every one. The banknifty and nifty shown a 'Up Trend' throught the day no sign of falling down /swings it move up and up consistently.The banknifty opened in 12000 and touched a day high of 12395.During the opening it came down to 11990 and that was todays low.The last trade was in 12358 a strong closing that stir the mind of bears...The last few days right from 11400 level we were cautioning the banknifty will touch 12200 in few sessions but it exceeds our expectation almost touched 12400 level nearly 1000 points from 11400 level.Many traders were in short expecting a deeper correction in market and negates advise to - many go short.We have been cautioning not to do so...hoping that saved many people money.


The nifty crossed the 5940 level now going beyond 6020 will attract fresh buying..So do not remain in shorts in nifty if , sustain above 5940 levels tomorrow. The banknifty now will find hurdle in 12450 level a cross over this lead to 12700 level if not move fast above this 12450 level it may fall down to 12240 level. Now not the time to go fresh long restrict all your trade in intraday that will be better.


Many stocks today 'upper freezed' due to the possitive note of GDP growth and the food inflation.That too realty stocks zoomed like core projects(touched 270 level),vijayashanti and many such scrips...inspite of the recent housing loan scams!!!.The SBi and Allahabad banks and others seems pull back.The ioc shown good recovery due to the fpo..Will this upmove will continue further!! if so, how long!All these anlysis is nothing but waste of time the less you apply your logic mind the more you will understand about the real market and its pulse to sail smooth.

Tuesday, November 30, 2010

The Floating is just commenced...


Although the banknifty future opened today weak in a gap down and gained momentum there on and shown its power.Its acted like a silent Warrior not shown its impulsive inner strength..from the days low of 11766 12096 at last traded in 12025 in its closing trade.This is again a strong closing note.


We foreseen this up move when it fell down to 11400 and asked all our positional traders to go long , today we exited the same longs near 12060 level.Even in our yesterday's pre-market view, we posted the banknifty will cross 12000-12200 level that is achived.Today the banknifty touched 12096 level.


Tomorrow we expect a flat opening and trade in side ways,If nifty open above 5940 level fresh buying may comes in and that may boast the mid-caps stocks which fell down recently.The GDP growt shown 8.9(From 9.1)and tomorrow the euro banks test may give some more impacts on these index's
Nifty moving above 6015 level will motivate a short term rally.Avoid short if open above 5940 level.

Monday, November 29, 2010

Now Banknifty Seems To Float above the Roof


The Banknifty today opened in Gap Up about 100 points from yesterday closing.The banknifty sustained well in 11800 level the day was bit narrow within 150 points swing and witnessed a genuine trade without much gambling.
.
In my friday post we wrote the banknifty will go up on monday when the most other site were foreseen the monday market may fall to new low.Today whatever we forseen and wrote on friday almost 50% result was seen and the coming sessions it will move up and try to float above the Roof(resistances) no wonder if it cross again 12200 levels.
.
The banknifty and nifty shown a better low and better high.The Bn today touched 11918 and nifty was 5864 both these index are now very close to the hurdles that hinder its up moves....if break out happen it may easily touch 12000,6000 levels respectively.
.
Today we made a gain of 100+ points in 3 trades without much hassles.

Friday, November 26, 2010

What a pull Back Rally?


Today The Banknifty opened in gap uo @11880 from its previous day closing 11753 level and it stayed above 11800 for 10-15 mints and fell down to 11750 level and was traded in side ways for a while.Due to the severe sacm in housing sectors the reality sectors show much weakness and fell almost all reality stocks down..The Core india projects fell from 253 to 151 and it was pull back up to 250 level again in the afternoon.After the media flash ups the reality weakness the banknifty fell down..it was a kind of free fall ...The day low was 11440 but within a hour a great recovery was seen..( from day low to high 487 points) The pull back rally made to achive new day high of banknifty at 11927 level and clsosed in 11730 level.

Today it was a JACKPOT DAY for all our clents..
We sold and covered and double bought at 470 level again sold in 880 level.The intraday tradar made around 350 points.The intra+positional traders made nearly 540 points.We made our day fruitfull.This is one of our highest gains in intraday trading. Day after day our accuracy level gone up.we are amazed by our own prediction that made many of our clients rich.

The coming session banknifty may show a minor rally/set back to sustain its status quo 12000 level. it may touch 12200 level soon.The nifty now strong above 6015 level and weak below 5460/350 levels.Today many stocks touched new year's low..The corrective phase is not complete yet..It gives good oppurtunity for the real investors to buy best stock at low price. So keep rooms for buying fresh at low!! Wait for bottom fishing.We too have some 60+ stock for bottom fishing our all seed clients will get these scrips as and when the market is ready to catch the good stocks in low value.
you can also visit here to know more>http://multibaggersstock.blogspot.com/

Thursday, November 25, 2010

Banknifty Closed weak..


The Banknifty Today opened in mild gap up and traded well in 11900+ level and the opening punch shown at 12000+level. From opening it was dragging down to 11800 level and in the afternoon session, fell sharply to 11700 level and broken earlier weekly low ema's.The closing of banknifty was weak.


The nifty was some what firm and sustained 5820+ levels as today happened to be the f&o closing..but in the end it fell down and closed weak.
On the coming session we expect more selling pressure in finance&bankning sectors.That may push down nifty and banknifty further down side.The banknifty almost last 7 session closed down to 50DMA and it may take support in 200DMA .The Housing corporate scam seems to be severe day after day when all comes to daylight the weakness may deepens.

Wednesday, November 24, 2010

Banknifty Closed weak...


Today the market opened bit strong and firm and traded well.The market nifty and banknifty floated till after noon.The nifty broke yesterday high 5968 and lot of buying were seen.The banknifty touched a day high of 12328 and the day low made was 11740 level,From day low to day high was about 530 points.During closing the recovery made to close near 12850 level.
.
The Lic Housing Finance Ltd was down nearly -20%..It traded near 1320 and free fall happened due to some scandal in its housing loans,soon after the news recived it acted fast and fell from 1300 to 1050 level in no time.The Bihar political results is in full favour of the opposition BJP alliances the congress won only 6 seats.The bihar oppsition is in full charge.This is yet again one more chellange to the present rulling Govt, as its facing problems one after another like common wealth scam,adarsh housing society scam,2G-spectrum....etc. This made a mess in market!! The market now in the corrective mode.Today many bad news made together created a panic situation among traders/market players and they start selling all finace sect stocks..The Sbi also fell down about 100 points this imapact seen in Banknifty and about300 points it fell down from 12200 level to11780 level a sharp fall occured.
.
Last 3 days the banknifty shown good recovery and today too it traded well above 12280 level but during the end the moving avg fell down sharply..this put the banknifty in -ive side ,the more weakness will be there if tomorrow it trade below 11760 level.
.
The nifty may take support in 5750 level and bounce up to 5800/900 levels.The 5750 breakdown may lead deeper correction uptp 5560 level.Tomorrow F&O closing so the roll over of position tend to make market swings up and down more then usual.
.
I Have recived, This below one in my chat messages...
Would like to share the same with all my readers, as it awaken all of us!!!
.
'First- CWG-Scam'
'Second- Adrash Scam'
'Third -2G Scam'
Now -LIC Housing Loan Scam...
If.....Roughly
We,Calculate...these Scams...Costs--Indian Public....More Than....3 Lacs Crore....!!!!!This is Ours Money..Apart for this the Indian Money Deposit in Swiss Banks
Top $700 Billion Mark
That's Means....If these Money , come back in India....
We Don't Need to Pay Any Taxes for the Next 20 Years
We'll be Free from STT,VAT,Income Tax,Direct Tax,Indirect Tax ,
Education Cess , Service Tax.and All Other Taxes..!!!

Tuesday, November 23, 2010

The Recovery was great!!


In- My yesterday post i wrote there may be a gap down opening tomorrow and today it opened in deep gap down and went up near 12300 level and in the mid-session due to the missile attack of korea's made panic among market players and a free fall seen .The banknifty day low was 11865 and in the after noon the recovery "u" Turn was very fast and strong and gone above 12250 level.The Nifty Was shown huge buying this may happened due to panic short covering..We were expecting it may breake the day high during closing but it trade well in 5955 but some how it missed to cross over the day high 5968!!!.
.
The F&O closing is in a short while within next 2 days,so more swing in market is on card . The nifty 6000 call option added more volume today that may be used as headging against the future shorts.
Tomorrow A opening above 5940 will make market to 6000+ levels and more panic buying may comes in.If,open down to 5867 more fresh selling comes in and that may push down nifty to 5780 level.
.
Banknifty, Now is in a preparation for one more upmove!!
if sustain and trade above 12290 level in another 3 to 5 session it may make it strong rally again Or it will move side ways.below 11750 it will be week.

Monday, November 22, 2010

I s the correction Suspended!!!


In my yesterday post i wrote clearly dont remain in shorts and avoid shorts.As per our market pre-view the market today rose un-expectably and the afternoon recovery was amazed many day traders.Many people were struck in short and expecting the banknifty will fall further down to 12000 level where us it took support and shoot up to the new days high 12450 from the days low 12065 level about 400 points swing in intraday.


The Nifty Was shown great weakness last week as the selling pressure was huge due to the spectrum and other expected political instability traders expected huge fall/correction.Now the market gave a new twist...As i used to say market beat's every one.We have covered our shorts in friday near 12000level and were gone fresh longs which we exited today near12420 level.We also made about 150 points + in intraday trading.


Now the banknifty tomorrow may struck in side ways as the f&o closing is near by in 3 days.The EOD chart shows still weekness and a gap down opening may be there tomorrow.The nifty closed strong above 6000+ level now the 6100 act as a resistance a bounce up above this level will add more buying pressure.

Sunday, November 21, 2010

Will The correction Take Place?

Finding Way ouT To Answer This Question!!! The nifty last week huge selling was seen and during the deepawali day its gone to new high and sustained in a range. But from last 3 days trading, the nifty much selling pressure was seen .Nifty broken the critical supports-5932 and 5876 and closed weak.
In my view,
Happened due to the 2G-Spectrum Scam and the follow up Political Scene.The media were showing so many angles about the scam and its impact on the coming days.The Oppossition political parties were asking the PM to resign..This made a mess in the traders mind.The traders were not willing to take risk as many rumours about the ongoing strom in our parliment..this made the traders not to risk over carring the week end positions that would have probably added more selling pressure.The coming Thursday the F&O closing that make more swing in market.Now the cross over of 5900-6000 level may act as hurdle for upmove but after F&O closing the market may again move up.The banknifty may take support in 11780 level and bounce up again to 12,000+ levels.I wish avoid fresh shorts till f&o closing.

Friday, November 19, 2010


The Banknifty fell down to 12020 level form its day high of 12375.We started selling from the opening and gained 150 points+ in intraday.The range bound trading was over powered by the bears and broken down and took support at 12000 level.The nifty also broken the 5934 & 5878 and huge selling seen during closing.
.
The bank of china hiked the Reverse Repo by 50bps.Now our banking stocks is in falling phase and more selling pressure will be seen on the coming days.

Thursday, November 18, 2010

The Banknifty Slide further Down...!!


The banknifty future today huge selling was seen from the opening and closing somewhat balance to the middle. The Banknifty took support in 12,100 level and anything near 12600 it struck in range and when it move near 12800 or the chennel top selling seen.The Nifty Broken today the critical support 5937 level the next support liess in 5875 level a breake this level may weaken the market a blood bath can be seen.Avoid long now.

The above 'EOD'- chart shows the banknifty now turn to be '-ve' and a jump above 12800 may possibly lead to a new highs...But as of now the nifty is showing great weakness a further slide down is on card now.The icici,Sbi and many banks shown huge selling today.
.
The traders & investors are now feared to invest in the market as every one fear about the global correction. On the other hand the FII's are consistently pumbing money into indian market last few months.i have heared about 25 billions they have already invested and seems another 10 billions they propose to invest in our market.So, fundamentally our market is attractive for the long-term investors.



Monday, November 15, 2010


The Opening we sold banknifty in 12560 level and before we place SL the market fell sharply to 495 and we covered it with 60 points profits.We made four attempts in intraday trade and made 53 points as an average in each and net profit we made in intraday today is about 200 points +..(qty-100X200=Rs.20,000/- made by all clients)


In the afternoon near market closing we kep our self's aloof and just witnessed market bounce up to 12740 levels.The sbi were very aggressively gone up in minutes and that impact shown instantly in banknifty future.The banknifty and nifty closed firm and strong as i told in my last post it will again bounce upto 12900 level and take firm move from there ..The Direction may be only can predictable during that time.


The tomorrow the banknifty may open gap down and sustains side ways as now it locked up in a range and many banking stocks touched the pinnacle so the possibilities of further upside is limited.

Friday, November 12, 2010

Banknifty Now In Selling Mode...


I was insisting in all my old posts in last 6 days > wait till 2nd week end the market will come to the ground reality..Today the iip-data was below expectation and the impact shown in the market instandly. sensex fall of -400 points.The banknifty fell right from the opening about 300 points...About 10 days ago the banknifty reached 13300 level and now came down to 12500 levels...Many people called me to seek my guidance what to do with the shorts near 12300 level? or cover in 13300 level with loss of capital!!! All those people were called me are not my clients...but still i insited them to hold the short for a month...now many realieved and started covering short partially...
Now the banknifty possibley bounce again to the chennel top mean while it may go down to 12380 level and again touch 12900+ levels.
Today we have covered all our positional shorts near 12560 which was sold on Deepawali day near 13350 level .
We also done intraday and gained about 127 points.

Wednesday, November 10, 2010

Be Polite


"One of the greatest victories you can gain over

someone is to beat them at politeness".


Life is like a tennis match ...
If you want to winServe well, return well,
Play cool
And do remember
That the game starts with love all.

Tuesday, November 9, 2010

Where This Rally Ends?


Where the Nifty and Banknifty Ends it upward move? Almost unanswerable question.On the day of deepawali the indian market witnessed a all time new high.The Nifty broke away the previous top 6349 and Banknifty was made a high of 13400 level and reached it top.The Sbi gone to 3400 level and many many scrips made new year high's..The Sensex is nearing the 21000 mark and no wonder it will cross this boundry...The COAL INDIA made our market much stronger when it touched 340 level.. the fund inflow become surplus in our market.


The Indain market is seems to be a trend setters for the Global cue's..

That too after the US-President Obama visit and his inspiring talk in the parliment made many world leaders and ceo's attention to india. He quoted- "india is not emerging country,its a emerged nation". Our nation is the attractive gold mine for the real investors and the FII's buying everday is rising and almost more than about 2-months the fund inflow to our indian stock market, mainly the value based companies have been wittnessed huge buying by these institutional investors. Many of the companies stock prices are multiplyed by 100-600% growth which is an amazing sign of growth.Our own clients of 'SEED WEALTH CLIENTS' made massive money.

So the remaining days/months going to attract more potential FII's/Investors to our market and the sensex will make another new highs.

I also, wish you to read this as well..
Written by a Pakistani journalist about India- Must forward to all Indians!
Dear All...Visit here to read this>
http://wealthtrainer.blogspot.com/
An article written by a Pakistani journalist about India .. Must forward to all Indians!


Coming Back to Banknifty...

The banknifty whenever it reaches the chennal top a huge profit booking seen and it used to stand still for few sessions.The deepawali day it made a new high and afterwards it fell down about 300-400 points and today it opened in gap down and touched a low of 12990 where its sustained for a while and a certain jerk made to cross 13150 and gone up to 13187 level and fell from there to 15o and the 13150 seems a strong support for banknifty at present and it took support in this level and during the afternoon session went to another new day high of 13240 level and closed strong.We made a profit of 100+points today without any sl hit.We purposefully avoided trading few hours when the showed choppiness.


As i wrote in my earlier post the positional traders who took long can hold with trailing SL and avoid fresh positional sell at present.One can do intraday with proper SL and can make 50 points in a day easily by using all the swings.That will be an ideal choice at present.Hence it made a rally of 1000 points within few days to a week.

'Not A Time to Risk Your Capital'


Wednesday, November 3, 2010

The Banknifty Future Is Just Few points To touch 13,000 Mark


The Banknifty future is in its bullish run in last 3 days...Day after day it jumps ahead and closes about 100 points higher..it was in positional sell mode last week and within a day the bear was beaten enough and transformed to bulls power.I am aware there has been any desperate phone calls from many non-clients were asking our advise what to do now...many people were in short position now and the banknifty went aginst many about 700 points!!! now what to do...all i know is curtial you loss by booking profits or roll over position provided if you have enough margin in hand for managing the short fall.The banknifty is moved up by the fund managers and they make it to sustain in this 12900 level.Today it traded very much in side ways and a kind of choppiness seen.


The banknifty future is near 13,000 but some how it is not able to touch the 13000 mark.Every day its move up and create a new life time high and now this rally may touch 13,300 level.The nifty is struck in 6200 levels and unable to make i new life time high..Only the banks and their result performance took it away..The sbi&icici bank results may take it further height.


I wish the traders of banknifty to take positional short/long after 2 nd week..let the market seattle and find its move firm on one side..Now longs and shorts are almost risk wise equal to one another.

Thursday, October 28, 2010

'SEED' WEALTH SERVICES: WEALTH EDUCATION - THE NEED OF THE HOUR

'SEED' WEALTH SERVICES: WEALTH EDUCATION - THE NEED OF THE HOUR: "In our Education System 'The Wealth Education' is mostly ignored the most among us lacking this skill . We are here to address this need to..."

Banknifty Future Weaken Further Today


The banknifty future opened flat and instantly fell down and came down to 12180 level.Where as in the after-noon session it shoot up again and cross over the days high and the last half-an-hours some eratic fall of 100 points seen within 7 mins time and it closed weak.
.
The 'Eod' chart above shown, showing the banknifty future is weaken further today from yesterday chart. The today market was quite un-predictable as the F&O closing+the fight between bulls and bears to sustain their 'status quo' it swung on both sides.. it went up and fell down.The SBI was very volatile and Bn acted as per the sbi moves.
.
The Nifty today made another low and seems very weak.We need to watch out the 5839 level digilently weather it breaks down or take support and move up!!. The first week, the market may witness more swing as the largest issue ever in indian history 'Coal India" issue is going to open this will bring more money into market as the sellng/buying will be more aggressive in this scrip. I belief it is a very good scrip to hold for a long term beyond 3 years .

Wednesday, October 27, 2010

Market Done well as per our yesterday pre-market view


We wrote in our pre-market view in yesterday and the market today done exactly the same.It opened below 12380 and selling was seen and came down to 12200level.The days low was 12161 and high was 12397.During the closing short covering took up to 12280 level and closed very weak.The nifty also now in positional sell mode it may slide down further to 5800 level.We expect the banknifty will fall down to 11800 level soon.


As i waa busy in some media interview unable to update in time.....


What we can expect now?


The 9.15 market opening time gave us a good oppurtunity personally i feel it is a very good system that curbs so much of market speculators and the high jump gap ups/downs trap will not be there much as it used to be in the past.


The market perspective now at present is down,as per today closing the market has to slide down further...but the hedge funds may play major role and try to lift it up by gap ups/runnining gaps...it this attempt fails the nifty may take support in 5800+ level and banknifty will be sideways for 2 days till f&o closing.After f&o it may touch 11800 level and chances are bright to bounce back to the previous highs.

Tuesday, October 26, 2010

The Range Bound Trading Will not sustain now...




The banknifty struck in the 'Range Bound Trading' in last few days and i expect it Will not sustain this range now on the coming days...The banknifty opened today in 12500 level and there on shown weakness and fell down to 12400 level >now the 12380 range seems to be a hurdle for break down a opening below this level bring fresh selling and can slide down to 12200 level. Tomorrow a gap up opening above 12545 level only add strength or it slides down and go out of this range bound on the coming sessions.As i wrote in my y.day post avoid long..
Today we sold in 12495 and bought it in 12430 level and done only 2 trades with profit..The day was very much snail moves within a narrow range of 12380-500.not able to much trade.

Monday, October 25, 2010

Banknifty Now struck In Range Bound


The Banknifty today shown strength struck in 12640 level and was unable to move up and fell down and the running gap down was seen.The closing shown weakness and it is now struck in a range bound of 12400-600 level. The critical support lies in 12277 level a fall down to this level may weaken much more and a free fall may expected.The 550 level will enhance more side ways for 1/2 sessions and a firm direction will take place before this week end.


Today nifty was able to claim up but as it move's up the selling pressure was also seen and it came down to the previous friday closing levels. The SBI shown bullishesness and inspite of that the mother index shown weakness.The banknifty future trades still in '70+points' premium and this is not an ideal situation to go long, as it may any time turn -ive. Be watchfull about your longs or do it with SL.


After the COAL INDIA - ipo, We were expecting....the market direction will be clear. but, still there is no clear cut change in the market direction...it is still in Range bound and the market move is very much like a snail. Occassionally, uncertain jerk also seen as per the pulse of today. It is an indication of 'Flight' situation...


Saturday, October 23, 2010

The Positional Short can be hold?


In the above EOD chart indicates clearly the wen banknifty and one can hold positional short in banknifty...But one has to be very diligent and a full timer in holding positional shorts as its swing from 50 points to 500 points within a day.The monday market we must be watchfull as the relief rally can happen and it becomes an important do alter or carry position short. The nifty as of now showing great weakness as the COAL INDIA 'IPO' Suck out about 40 to 70 Thousand crores from the market.On the other hand the result seasons so many scrips are booming into new highs.


Trade with caution as the market now not satic and have option to jump both sides.

Friday, October 22, 2010

Banknifty Relief Rally?


The banknifty today opened mild gap up and shown instant weakness fell from 12380 level to 12232 that was the day low and from there are it traded few hours in side ways and slowly gained strength and gone up and touched the day high 12580 level which is unexpected 'U' turn.The nifty yesterday closed very week gone down to 6000 mark and today it crossed 6140 level.Now i expect a gap down opening tomorrow.Today due to the hike up price of sbi about 80 points made banknifty very strong and many companies result was seems good and taht lifted nifty up side...The market is again going to slide down on the coming days.Let us wait and watch.

Tuesday, October 19, 2010

The Market Is Begun For a BIG FALL?


In our yesterdays post we wrote about the market that was claimped up during closing and that is going to futile today.That was happened.Today the market opened strong near 12484 and fell deep down to 12360 level. Then it slowly sustained and gained strength and gone to 12500 levels there it shoot up and run up gaps seen till 12620 level . We observerd the market was like - 'the horse eye's which is tied and reached it destiney without seeing anything on the way...A I wrotsimilar way the banknifty touched 12620 and slowely came down to 580 from there it went down. The market fall was in such a speed and broken the earlier days low and went deep down to 12260 level.i wrote 2 weeks back when the market was in 12800 level about this level.

As usual we made great gain at every level buy/sell and we exactly bought at 12504 and some how seen the market fundamentals was weak and exited there..but it went to 12620 level...we were waiting for a sell and sold in 12588 and there on we started accumulating profits in free fall where we were holding short..we always allign ourselfs along with the market and that is been our secret of success and that paid great reward.We knew how to turn the situation into our favour.

Now what we do expect?

The market > Nifty and Banknifty now in a positional sell. The today market and yesterday market witnessed so much of selling and we do expect further selling in nifty and a breakdown of 5992 may be a critical level for a correction of about 700 points minimum. So be cautious of your longs.Book profit in your scrip and keep cash reserve.

Monday, October 18, 2010

A Jacpot Day For Us In - ' Banknifty Future Trading'


Today we made an excellent trade without any sl hit we made 7 attempts "intraday Banknifty Future" and succeded in all . The market opening we sold near 12465 and placed a buy at 12320 and was bought.We gain sold at 12380 and covered in 12248..similar way we attempted and gained Nearly 300 points in intraday. So it was a ' jacpot day ' for all our clients.Infact we sold in the days high and bought near the days low and gained the maximum in banknifty.


The Levels we have mentioned for buy/sell in todays intraday was very opt and all our targets were achived without any modification. We have been doing intensive study in banknifty and the levels we aims for our trading is quite facinating.Most of the clients were amazed by our sell or buy calls when it exactly touch/achive the levels we mentioned.Any way we welcome you to become one and enjoy the jacpots everyday.

Now What we do expect tomorrow?

The Nifty touched the days low of 6007 and the 5990 was the days critical support and a breakdown of this level would have attracted huge selling in nifty as so much of SL/Basket selling were placed here for positional shorts...But some how the market slowley rose and sustained in 6035 level and during closing it jumped up to 6120 levels.I could see already so much shorts have been build up from 6250 levels.The Nifty fall down to the 6000 mark now is very critical and the indian market may face huge correction about 500+ points.So the bulls be carefull now and avoid longs or do it with strict SL.

The Banknifty is weak below 12410 level and it is the level of positional shorts.Today it fell down to the days low at 12236 and during market closing shoot up to 12450 level.This exhastion runing gaps is futile tomorrow.Be wathcfull the market witnessed many a times a false breakouts.