Weekly wrap:Trading strategies

Weekly wrap

Nifty view for the week – May 07, 2012

Nifty breaches the support of 5150, hence turns negative. Further downside till 4985 and below that 4907cannot be ruled out. 5150 would now serve as a stiff resistance for Nifty.

Sector in Focus: BSE Bankex index

BSE Sensex finally breached the crucial level of 17,000 and now tumbling down with a full speed.. For past few weeks, BSE Sensex tried to maintain above 200 – DMA near 17,000 mark but failed to sustain as sharp fall was witnessed in the last day of previous week.

BSE Bankex is moving along with BSE Sensex as it has also broken its 200-DMA and now heading in southward direction. The short selling positions can be created in the stocks like IDBI, HDFC Bank and SBI at their respective levels.

Debt Market for the week

10 Year Government Bond Yield likely to move in the range 8.57 to 8.66 levels..

Commodity pick of the week: Copper

Strategy: Sell on rise till 444 with stop loss above 449.30 Target 430-428..



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s