June 2013

 INFY 

buy infy 2350 put for 15 rupees .......

cheerssssssssss .....

 MY WEEKLY TAKE .....


Trading levels --- 17th / 21st June 2013

But for a huge up-move on Friday, NIFTY would have shown over 3.5 % cut for the week. It was actually just about 75 points. As expected short term trend seems to have changed but Mondays RBI decision about rate cut has potential to push NIFTY back into short term down trend.

I attended CNBC investor meet this morning in PUNE and no one is talking of table thumping bull trend now. What a turn around in 3 / 4 weeks. Around mid-May, everybody was talking about a new all time high and possible targets of 6500 to 6900 by Diwali. Now DOOMSAYERS are predicting 5000 in next 2 months.

As I said last week, I don’t see situation so grim that we will see 5000 in 8/10 weeks. That will break the back-bone of long term trend which started from January 2012. It will have to be some catastrophe for that to happen.

Our FM appeared on TV channels and that turned out to be an occasion to pat his own back rather than some firm announcements which market was expecting. I am convinced that some stern measures related to gold will have to be taken in coming 6 weeks as gold imports are continuing un-abated. Be wary of jewellery stocks as they can tank 20/30 % when some stern measures are announced.

Rupee dropped to an all time low of 59 mid-week when RBI intervened and it is back to 57.5 now. But 60+ levels are on the cards and it can happen anytime. This has limited the RBI ability to cut rates significantly – not only on Monday but in the months to come as well.

Bank-nifty did hit a level of 11650 – a whisker away from 11500 – my prediction. It may still happen next week … after the RBI meet. My followers are sitting on HUGE profits by shorting Bank-nifty at 13000+ levels. CHEERSSSSSSSSSS TO THEM.

MY MONTHLY LEVELS ARE WORKING JUST FINE …. WATCH THEM AND FOLLOW THEM ……

I have released monthly trading levels for JUNE 2013 on my website – www.sumamura.com under messages tab and you can have a look at the same before entering fresh trades.