Home Page  

 
Contact Us - Online Form Our Current Recommendations Our Range of Products & Services Read some of our Technical Articles Online Introducing Rajat K Bose
Books reviewed by Rajat K Bose
Bibliography on related articles
Glossary and Meanings
Related Links on common topics

 

please refresh / reload this page on your browser to read the current days market outlook. ( Press Ctrl+F5 on your keyboard ).

This page is normally updated between 08.30 Hrs - 09.00 Hrs morning on Trading Days

TV Schedules (forthcoming)
  Tuesday, 31 March 2015 Zee Business 8.30 am - 9.30 am
  Wednesday, 02 April 2015 NDTV Profit 8.45 am - 9.30 am
  Thursday, 03 April 2015 CNBC Awaz 8.15 am - 9.25 am
  Friday,, 04 April 2015 CNBC TV-18 8.30 am - 9.00 am
   
Market Outlook 30 March 2015               some interesting links >



Nifty (8341.4, -0.75)

Nifty closed almost flat on the last trading day and so did the US markets. The debate continues whether FED will spring its first rate hike later this year. One of the deciding factors will be the improvement in the labour market. March Jobs data will therefore be interesting and a topic of much debate. Next week will be a truncated trading week on account of Easter. It could be a highly volatile week too.

Though Nifty opened above the Thursday closing price on Friday, the first day of the new clearing, at 8396 it quickly shed its early gains after testing the intraday high of 8413 and posted a new low of this downswing when it breached the 8300 level and tested a low of 8269.15. There was a sharp recovery from these levels towards the second half of the day and the index closed almost flat with a loss of 0.75 points making a touchline pattern. This signals that some pull back could be in the offing but certainly confirmation is need on the next trading day. There are telltale signs on the technical charts to tell you we need to be far more watchful about further signs surfacing. The current downswing is already 17 trading days old and its price amplitude is 850 Nifty points. It has fallen way below the short term moving averages so the possibility of either a pullback or flat range bound move is likely. Traders are likely to be less committal since it is a short trading week as markets are closed on Thursday and Friday.

Many major pivotal counters are showing the touchline formation too. This signals that for now the bears should book profits and wait for fresh signals of weakness on the charts before taking short positions again. On the other hand, short covering rally could be sharp and fast, giving a chance for the agile bull traders to make a quick profit but with utmost care and they should liquidate the positions at the first sign of trouble.

  • Most critical levels for the day: 8393 (upside) & 8270 (downside)

  • Strong support: 8309 – 8265 - 8240

  • Major support: 8165 – 8109

  • Strong resistance: 8380 - 8416 – 8448

  • Major resistance: 8510 – 8565


Bank Nifty (18044.8, +213.15)

This index has been showing much more weakness than the Nifty for the past few days but the signs of a reversal are stronger in the bank nifty chart; most of the major bank charts are also showing the touchline formation and unless it is negated by the price movement on Monday, there would be hope for a pullback. It tested a low of 17719.35 before recovering to close the day on a positive note with a gain of 213 points on the first day of the new clearing. On the other hand, if it were to fall below 17605 – 17562 support area it would be headed for a test of the major support zone between 17165 and 17022. All this goes to show what the Chinese proverb says: we are in for interesting times!
  • Most critical levels for the day: 18200 ( upside) and 17860 (downside)

  • Strong support: 17700 - 17605 – 17562

  • Major support: 17165 – 17022

  • Strong resistance: 18100 – 18200

  • Major resistance: 18375 – 18446 - 18510


 




Note (1): Either on the long side or on the short side if at any moment a counter is not moving beyond an initial or interim target to the final target book profits. Once initial target is crossed, you can use that as your trailing stop-loss level.



Rajat K. Bose
Notes (2): (please read).
* All prices relate to the NSE, unless otherwise mentioned.
* The Outlook is based on the previous trading day's price activity
* The call is valid for the next trading session only unless otherwise mentioned.
*

Stop-loss levels are given so that there is a level below/above, which the market will tell us that the call has gone wrong. Stop-loss is an essential risk control mechanism; it should always be there.

*

Book, at least, part profits when the prices reach their targets; if you continue to hold on to positions then use trailing stops to lock in your profits.

*

Don't chase a stock, if you are unable to buy a stock because it hits circuit levels on successive days, don't buy that.

* The analyst and his clients may or may not have positions in the securities mentioned above.
Trading involves considerable risk. Trade at your own risk to the extent you are comfortable. The analyst shall not be responsible for any losses incurred for acting on these recommendations.
Rajat K Bose
 

Top of Page

Introduction  |  Articles  |  Products & Services  |  Recommendations  |  Contact Us  |  Book Reviews  |  Bibliography  |  Glossary  |  Related Links 

[Copyright © 2005-2015 Rajat K Bose, Kolkata, India.]
Website Hosting by a Web Design Company in Kolkata   Century Websites