June 2013
MY WEEKLY TAKE .....
Trading levels --- 1st / 5th July 2013
This government acts when pushed against the wall …. In September 2012, It was threat of sovereign downgrade and on Thursday it was Rupee threatening to break the level of 61 to a US Dollar.
The CCEA cleared the important gas pricing proposal doubling the price to 8.4 dollars per MMBTU. Whatever the consequences, the government showed the will to act and that was enough for the market to vault to a 2 week high.
Last week I had pointed out 5570/80 as important and strong support level for NIFTY and it worked out precisely. We bounced from a low of 5566 on Monday to a high of 5852 on Friday. A nearly 290 point rise. The levels worked for BANK NIFTY also. But for small aberration on Wednesday late afternoon, we have closed good 600 points above the low.
Where do we go from here ? That is a million dollar question.
The strong momentum of Thursday and Friday can take us to 5900/5920 levels. It has that potential. But anything beyond that can be difficult unless we have strong global cues and FII inflows.
One of the FED official is making a statement on Tuesday and it will be very keenly watched by all global markets.
US markets have a truncated week –Independence Day on 4th July - and this lack of US clues will allow our operators to rig the market the way they want. I will not be surprised if we have even 15/20 % moves on momentum / high beta stocks mid week.
I have released monthly trading levels for JULY 2013 on my website – http://www.sumamura.com/sumamura-messages/. You can have a look at the same before entering fresh trades.
NIFTY SPOT INTRA
|
intraday |
|
DATE |
28th june 2013 |
|
|
stocks / indices |
go |
entry |
Target |
Stoploss |
|
PREFER TO TRADE IN THE DIRECTION OF NIFTY . . . |
||||
|
BANK NIFTY SPOT |
short |
11340 |
11270/200/130 |
11410 |
|
long |
11410 |
11480/550/620 |
11340 |
|
|
RELIANCE |
short |
846 |
842/37/33/28 |
851 |
|
long |
851 |
855/60/64/69 |
846 |
|
|
ICICI BANK |
short |
1036 |
1030/23/17 |
1043 |
|
long |
1043 |
1049/56/62 |
1036 |
|
|
SBI |
short |
1914 |
1906/1898/90 |
1922 |
|
long |
1922 |
1930/38/46 |
1914 |
|
|
LT |
short |
1361 |
1349/37 |
1373 |
|
long |
1373 |
1385/97 |
1361 |
|
|
TATA MOTORS |
short |
273.00 |
271.5/69.5/68/66 |
275 |
|
long |
275 |
276.5/78.5/80 |
273 |
|
|
infy |
short |
2480 |
2467/54/41/28 |
2493 |
|
long |
2493 |
2506/19/32/45 |
2480 |
|
|
sun pharma |
short |
975 |
968/61/54/47 |
982 |
|
long |
982 |
989/96/1003 |
975 |
|
|
IDFC |
short |
128 |
127/26/25 |
129 |
|
long |
129 |
130/31/32 |
128 |
|
|
sriram trans |
short |
720 |
715/10/05/700 |
725 |
|
long |
725 |
730/35/40 |
720 |
|
|
ongc |
short |
349 |
342/35/28 |
356 |
|
long |
356 |
363/70/77 |
349 |
|
|
weekly |
|
DATE |
24th - 28th june 2013 |
|
|
|
commodity |
go |
entry |
Target |
Stoploss |
|
|
gold |
short |
1294 |
1280/65/51/36/22 |
1309 |
US$ / T ounce |
|
long |
1309 |
1323/38/52 |
1294 |
||
|
silver |
short |
20 |
19.75/19.5/19.25/19/18.75/18.5/18.25 |
20.25 |
US$ / T ounce |
|
long |
20.25 |
20.5/20.75/21/21.25/21.5/21.75/22 |
20 |
||
|
crude |
short |
93.75 |
92.5/91.25/90 |
95 |
US$ / barrel |
|
long |
95 |
96.25/97.5/98.75/100 |
93.75 |
||
|
nat gas |
short |
3.76 |
3.7/3.64/3.58/3.52 |
3.82 |
US$ / 10K MMBTU |
|
long |
3.82 |
3.88/3.94/4 |
3.76 |
||
|
copper |
short |
3.08 |
3.045/3.01/2.975/2.94 |
3.115 |
US$ / pound |
|
long |
3.115 |
3.15/3.185/3.22 |
3.08 |
||
|
sugar |
short |
492 |
488/84/80/76/72 |
496 |
US$ / tonne |
|
long |
496 |
500/504/08/12/16/20 |
492 |
|
weekly |
|
DATE |
24th / 28th june 2013 |
|
|
world indices |
go |
entry |
Target |
Stoploss |
|
S & P |
short |
1585 |
1574/62/51/39/28 |
1597 |
|
long |
1597 |
1608/20/31/43 |
1585 |
|
|
nasdaq comp |
short |
3356 |
3332/08/3284/60 |
3380 |
|
long |
3380 |
3404/28/52 |
3356 |
|
|
dow jones |
short |
14800 |
14690/580/470/360 |
14910 |
|
long |
14910 |
15020/130/240 |
14800 |
|
|
FTSE |
short |
6115 |
6075/35/5995/55/15 |
6155 |
|
long |
6155 |
6195/235/275/315 |
6115 |
|
|
nikkei |
short |
13225 |
13130/035/12940/845/750 |
13320 |
|
long |
13320 |
13415/510/605/700 |
13225 |
|
|
australian ord |
short |
4735 |
4705/675/645/615 |
4765 |
|
long |
4765 |
4795/825/855 |
4735 |
|
|
hangseng |
short |
20340 |
20160/19980/800/620 |
20520 |
|
long |
20520 |
20700/880/21060/240 |
20340 |
|
|
shanghai |
short |
2066 |
2039/12/1985/58 |
2093 |
|
long |
2093 |
2120/47/74 |
2066 |
