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NIFTY analysis for 06-03-2013 Nifty(daily)

we have seen a volatile movement in NIFTY. After opening on

a Positive at 5,732.55, It manage to create high of 5,808.40

and low of 5,729.75. At the end of day, NIFTY close at

5,802.80.It had a net gain of 85.95 point or 1.50% Over the

previous day's close. The Volume noted that 10,481,000

shares traded during the day which is 78% as compare the

5day's average volume and 105% as compare the 50 day's

average volume. On the Derivative side, NIFTY has added

almost 53,750 shares which are 0.31% of overall Open

interest maintain in the counter.

According to technical view for Short term Trader or

Positional players, NIFTY is trading Positive with the

Immediate support of 5,782. But Major trend following

Indicator MACD is showing weakness as it is trading below

the signal line. The Swing indicator Stochastic looks Positive

but oversold. Selling is only advice if it cross below 5780.. I am Mildly Bullish in NIFTY with the Stop-loss of 5780 with

the Target of 5830-5870.. But Below 5780, it is expected

that nifty may test the recent Low again which is 5678.

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BANKNIFTY analysis for 06-03-2013 BANKNIFTY(daily)

we have seen a volatile movement in BANKNIFTY. After opening on

a Positive at 11,685.00, It manage to create high of 11,859.50 and

low of 11,655.20. At the end of day, BANKNIFTY close at

11,840.25.It had a net gain of 216.30 point or 1.86% Over the

previous day's close. The Volume noted that 1,458,475 shares

traded during the day which is 83% as compare the 5day's

average volume and 92% as compare the 50 day's average

volume. On the Derivative side, BANKNIFTY has added almost

67,875 shares which are 5.54% of overall Open interest maintain

in the counter

According to technical view for Short term Trader or Positional

players, BANKNIFTY is trading Positive with the Immediate support

of 11,812. .But Major trend following Indicator MACD is showing

weakness as it is trading below the signal line. And the Swing

indicator Stochastic looks Positive but oversold.

I may Mildly Bullish in BANKNIFTY with the Stop-loss of 11810

with the following Target of 11960-12050. but below 11810 , it

may test the recent low of 11501.

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My Trading Basket:

Buy UNIONBANK above 227.95 with the Immediate Stop loss of 222.

Buy TATAMOTORS above 302.40 with the Immediate Stop loss of 293

Buy MARUTI above 1,444.80 with the Immediate Stop loss of 1421

Buy M&M above 909.10 with the Immediate Stop loss of 888

Buy LT above 1,398.80 with the Immediate Stop loss of 1395

Buy LICHSGFIN above 242.35 with the Immediate Stop loss of 239

Buy ICICIBANK above 1,098.60 with the Immediate Stop loss of 1076

Buy HCLTECH above 748.80 with the Immediate Stop loss of 726

Buy BATAINDIA above 790.80 with the Immediate Stop loss of 768

All the calls are purely based on technical .. You can book profit according to your trading plan or according to your Money management

rules please note that we should follow the strict Stop loss to cut our losses..Follow the SL on closing basis