11 January 2012

Nifty spot has opened above 8 and 21 Day EMA and maintained above through out.

The Daily chart suggests the stronger indications. 

The next resistance going forward would be 4918 (Nifty spot high of 9th Dec).

Again today the Open Interest in 4900 PE has been increased by 7.40 lacs which suggests big writing in 4900 Put Option.

However, the weekly chart suggests a stronger up move for 2 weeks.


I would say that this and the week later are going to be the weeks of the "maine bola tha" KIND KIDS ON THE STREET's weeks.


Look at the charts of PSU shares. Stocks like NTPC, MARUTI, SCI, NATIONALUM suggest somebody knows no political unfavorable situation expected soon.
Dispite lack of any positive news, the PSU shares are showing smart accumulation. 
Weekly chart of Maruti

Weekly chart of NTPC

Weekly chart of Bhel

Weekly chart of Nationalum

Let the stocks be distributed amongst. Let the smart kids recommend their "meine bola tha stocks" to numerous people.


During last few weeks, we have become used to of SELLING.
We should avoid what we become used to. And in case of Nifty for at least 2 weeks.


TCS weekly chart also suggest the same. The selling positions can be created with a weekly view with strict stoploss of Rs.1192 in future.