DAILY REPORT ON NIFTY BY kadiyali - 20.04.10 (Tuesday)

Positional Trades

31.03.10: Long in Colgate (futures) @ 679. Target 720. (Booked Profit on 12th @ 724).

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

05.04.10: Short in nifty futures at 5368. (Booked Profit on 8th @ 5316).

15.04.10: Long in Suzlon (futures) @ 73.90. Target 81.

20.04.10: Long in nifty futures at 5209.

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Option Trades

19.04.10: Bought nifty 5300CE at 22.20.(Booked Profit on 19th at 35).

20.04.10: Bought nifty 5300CE at 27.

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Intraday Nifty Trade

9.14AM: Bought nifty at 5216. SL 5189.

11.07PM: Booked out at 5238. Gain 22 points

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Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 5217 against its previous close of 5207, and is currently trading at 5232. It has so far recorded a HIGH of 5234 & a LOW of 5215. Asian cues are positive, US futures are just flat, and European markets may open in positive today. The trading range for NF today is likely to be 5190-5260. Utilise the dip caused if any by RBI credit policy to buy into nifty.

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Nifty SMS Trade

1.22PM: Sold nifty at 5255. Target 5230/5220. SL 5281.

1.53PM: Booked out at 5221. Gain 34 points.

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April Expiry expected above 5300!

2.15PM: Bought nifty 5300CE at 27.

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Positional Long in Nifty at 5209

2.45PM: Bought nifty at 5209. Positional.

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Nifty Update

3.00PM: Nifty futures trading now at 5221, after touching a low of 5207 & a high of 5255. The major uncertainty for market of RBI credit policy is out of the way, and global cues will be favourable for next few days due to earnings. Nifty is poised to get back above 5300 once again in 2-3 days.

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Best Nifty Picks Today!

3.15PM: Today's nifty picks turned out to be very good. Picked long at 5216 against morning low of 5215, picked short at 5255 against day's high of 5255.50, and picked again a long at 5209 against the day's low of 5207.95. Only the booking out turned out a little early, as morning long was booked out at 5238 against a high of 5255, and sms trade short was booked out at 5221 against a low of 5207.

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Market Close Report

3.30PM: Nifty futures closed the day at 5232, up 25 points, after touching a low of 5207 & a high of 5255.

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NIFTY OUTLOOK

Nifty recovered part of yesterday's fall, and closed the day at 5230, up 26 points. FIIs net sold 156cr & DIIs net bought 101cr. Nifty may bounce back above 5300 in 2-3 days in view of the Q4 earnings expectations.
Nifty levels for 21.04.10 Wednesday are: PIVOT 5231, R1 5255 & R2 5281, S1 5206 & S2 5183.