DAILY REPORT ON NIFTY BY kadiyali - 06.04.10 (Tuesday)

Positional Trades

31.03.10: Long in Colgate (futures) @ 679. Target 720.

31.03.10: Long in Gitanjali Gems (cash) @ 118. Target 140.

05.04.10: Short in  nifty futures at 5368.  

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Intraday Nifty Trade

10.15AM: Sold nifty at 5368.  SL 5386.

2.02PM: SL hit at 5386. Loss 18 points.

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Sold Amrutanjan

Sold 25 shares of Amrutanjan (bought at 450 on 23/10/09) out of the multibagger portfolio at 1320. Will buy back 50 shares if it falls below 1000.

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Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 5376 against its previous close of 5365, and is currently trading at 5363. It has so far recorded a HIGH of 5379 & a LOW of 5352. Asian cues are mixed, US futures are in red, and European markets may open in slight negative today. The trading range for NF today is likely to be 5310-5380.

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Recommended Nifty Trade Today

10.32AM: Nifty futures now at 5361 with a discount of one point to the spot. Wait for NF to recover above 5366. Go SHORT above 5368 with SL at 5386 for a target of 5330.

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Nifty SMS Trade

1.07PM: SELL nifty now at 5369. Target 5330. SL 5386.

2.02PM: SL hit at 5386. Loss 17 points.

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Bank Nifty Trade

1.24PM: SELL Bank Nifty now at 9757. Target 9650. SL 9791.

2.02PM: Bank nifty now at 9755. Book out of the trade.

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Market Close Report

3.30PM: Nifty Futures closed the day at 5371, up 6 points, after touching a low of 5352 & a high of 5387, in a range bound trade.

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NIFTY OUTLOOK

Nifty traded in a tight range of just 37 points, and closed the day near flat at 5366, down just 2 points. FIIs net bought 262cr & DIIs net bought 81cr. Nifty may continue to scale new highs in the first half of this month, but may face sell of at higher levels in the second half.

Nifty levels for 07.04.10 Wednesday are: PIVOT 5369, R1 5386 & R2 5406, S1 5349 & S2 5332.