Vikash Agarwal....19th December

Market Technicals for the week ending 21st December

Indian Markets Technicals

Both Nifty & Sensex have become a bit weak at these levels. The trend for fresh buying positions will continue if the markets trade beyond 6052 & 20120 . There are chances that Nifty may move 257 - 258 points down & Sensex may move 573 - 574 points down. There are chances of a weekly movement of around 520 points & 1325 points in Nifty & Sensex respectively.

If the markets sustain above 6180 & 20407 levels, then they will try to touch 6314 & 20785 levels.

On the other hand, market has a weak support at 5918 & 19743 because the markets may further fall down to 5790 & 19456 levels from this point due to panic selling & profit booking which can act as a strong support.

Intraday Market Technicals for 19th December

Both Nifty & Sensex has become a bit weak at these levels. The trend for fresh buying positions will continue if the markets trade beyond 5775 & 19154 . There are chances that Nifty & Sensex may open 33 - 34 points up & 75 - 76 points up. There are chances of an intraday movement of around 325 points & 730 points in Nifty & Sensex respectively.

If the markets sustain above 5841 & 19300 levels, then they will try to touch 5939 & 19520 levels.

On the other hand, market has a weak support at 5677 & 18934 because the markets may further fall down to 5611 & 18788 levels from this point due to panic selling & profit booking which can act as a strong support.

US Market Technicals for the week ending 21st December

Both Dow & Nasdaq have become weak at these levels. The trend for fresh buying positions will continue if the markets trade beyond 13490 & 2668 . There are chances that Dow may move 419 - 420 points down & Nasdaq may move 67 - 68 points down. There are chances of a weekly movement of around 1135 points & 200 points in Dow & Nasdaq respectively.

If the markets sustain above 13700 & 2702 levels, then they will try to touch 14060 & 2768 levels.

On the other hand, market has a weak support at 13130 & 2602 because the markets may further fall down to 12920 & 2568 levels from this point due to panic selling & profit booking which can act as a strong support.

Commodity Calls

Sell MCX Gold Futures at current levels with a target of 9908.70 & with a stoploss/ average above 10300.65.

Buy MCX Kapas Futures at current levels with a target of 462.55 & with a stoploss/ average below 447.50.

Derivatives Calls

Futures

Buy Nifty Futures above 5784.65 levels with a target of 5919.50 & with a stoploss/ average below 5717.25.

Buy Jet Airways Futures at current levels with a target of 1150.50 & with a stoploss/ average below 981.15.

Options

Buy Nifty 6200.00 CE at current levels with a target of 26.05 & with a  strict stoploss below 9.85.

Buy Nifty 6000.00 CE at current levels with a target of 65.00 & with a  strict stoploss below 30.65.

Buy Essar Oil 250.00 CA at current levels with a target of 34.60 & with a  strict stoploss below 12.65.

Buy Chambal Fertlizers 70.00 PA at current levels with a target of 2.45 & with a strict stoploss below 0.30.

Long Term Delivery Calls

We strongly recommend a buy on ITC at current levels with a target of 254.85.

We strongly recommend a buy on IVRCL Infra. at current levels with a target of 741.45.

Medium Term Delivery Calls

Buy Harig Crqankshafts at current levels with a medium-term target of 5.35 & with a stoploss/ average below 3.23 .

Short Term Delivery Calls

Buy G.V. Films at current levels with a short-term target of 16.17 & with a stoploss/ average below 8.59 .
 
It will be my pleasure to build a strong relationship with you.

I look forward for your response & suggestions regarding my research.

 

courtesy:

Vikash Agarwal
Rourkela.