Yearly view

2-1-2011

Hi,

Wish you happy new year. I wish for all who reads my blog or follow my trading ideas, a very very good earning year.

Last week was important week, in which market was break up important level of 6040 on closing basis.

During the month of December Market had gained almost 400 points. As I have mentioned earlier, since 2001, Nifty had always closed up in the month of December. So FI will be out of Market, sale vigorously have proved wrong and once again History repeats itself has proved to be true.

Ideas for 2011

So far as 2011 is concern, it looks very good year. Nifty is in uptrend since June 2009 on quarterly basis, since March 2010 on Monthly basis, and Since June 2010 on weekly basis. So we can say that One can be in up trend for the year if Nifty is not close below 5600 on closing basis.

We may see new highs up to 6700 levels if we break historical high of 6357 levels. As I have said above below 5600 levels we may see 5000 -4900 levels again.

So trading range according to me for the year is 5600 to 6700 during the year i.e 500 points above and below the current levels.

Monthly Review

History since 2001 - Nifty had closed up for 4 times and closed down for 6 times. From 2008 at least trend of January month is down trend. Nifty had gone up in initial stage of the month but it has wiped out all gains of December. So history is not good January month.

We may see effects of quarterly results on the market, which will be declared in the month.

But so far as charts are concern, Nifty is in up trend on monthly basis till Nifty is not violating 5870 levels on closing basis.   

Weekly Review

Nifty at present is in up trend on weekly basis. Nifty is in Uptrend till it is closed above 5982 levels in this week. Nifty has break up one of it’s important level in last week, so we may see up move in at least in earlier part of the week.

Summary   

Yearly – Up Trend till Nifty is above 5600 on closing Basis.

Monthly – Up Trend till Nifty is above 5870 on closing basis.

Weekly  - Up trend till Nifty is above 5982 levels.

Global Indications:

During last week there was a Christmas vacation. So we have not seen flat movement in USA and European market.    

Today morning ASIAN markets are trading in greens. KOSPI Up by 15 points, Taiwan up by 31 points.

Singapore Nifty is up by 4 points.

Today’s Call

Last week I have picked up Siemens to buy at 809 for a target of 836 it has almost achieved it’s target and had a high of 828. I have also suggested Bajaj Hindustan at 120 levels for short term and it has reached 124.50 levels during the week.

Today I have not picked up any share but have a close watch on Sarda Engineering. It looks very good.

Please write your suggestions and ideas.

Thanks