Nifty: Daily Price Analysis

[simple_trader]

Market has been twisting and turning in a narrow range for past so many days. But toady, after many days, we traded whole day above 5300 NF. It is a good sign. Once we get a close above or around 5350, we should breakout above 5400 next.

Today's close is a good setup for rally tomorrow (may be good one on the card)!

This is my personal view. Please do your own analysis before committing money.

Happy trading!!

Sometime previous day;s close give a hints what is going to happen on next day. So far so good.

 

[AW10]

imo, Nokia is struggling to fight iPhone and loosing out the battle. As Google is also trying to tap this mkt with Android phones, it is not going to be easy for Nokia.
i just chked the chart on yahoo. Seems it fell from level of 16 in April-10 to 7 or 8 now.
50% in 2 months.. Don't know what was the disaster here like oil spill for BP. After such steep fall, bounce is possible..but upside is going to be hit by resistance. personally, i wait for bounce, drop and consolidation to take place before jumping on such contrarian candidates.

And if we are going into slowdown, and consumer is into saving/cost cutting mode, then there is no compulsion to buy new phone. When they could give up buying cars, then they can easily give up buying phones (and I am sure, govt is not going to give incentive to buy phones cause it doesnt' impact any macro economic data).

Emerging mkt is lot more cost competitive, so nokia has to fight with other low cost manufactures there, but not with apple.

just my view.hope this helps.
happy trading

 

[linkon7]

Nifty ke analysis ke thread pe ab NOKIA aa gaya...? :lol:

If nifty keeps doing 30-40 points tight range intraday... what else can we do...?

Market mein na bull hai na bear hai...bas kuch bakri ghas kah raha hai....

 

[simple_trader]

Nifty ke analysis ke thread pe ab NOKIA aa gaya...? :lol:

If nifty keeps doing 30-40 points tight range intraday... what else can we do...?

Market mein na bull hai na bear hai...bas kuch bakri ghas kah raha hai....

Yes Linkon, it is difficult market to do intraday. I have not done any intarday trade for last 10 days. Bit lucky in that sense! Only hold swing longs this time.

I believe from INFY result day, we will have good market for intraday!

Happy trading.

 

[linkon7]

Yes Linkon, it is difficult market to do intraday. I have not done any intarday trade for last 10 days. Bit lucky in that sense! Only hold swing longs this time.

I believe from INFY result day, we will have good market for intraday!

Happy trading.

bot 5500 call and 5100 put pair for 48...

now waiting for infy's result to give us some momentum...

 

[simple_trader]

Also I find these days, market makes a 10 points range, and keep trading in that range for long time. It is is easier to to detect them. Are you people doing program trading?

 

[simple_trader]

What I feel, it is not 100% clear what market will do next week (though, I think it will be bullish). It is highly advisable to hedge your NF longs (if you are holding) with equal quantity 5400 call. I am doing the same.

Happy trading!!

 

[linkon7]

Very interesting setup for Monday...

if we have a negative day on Monday...then double top on price... and divergence on RSI becomes the confirmation...

If we have a positive day, then previous high taken out... so H&S pattern on EOD is invalidated and 5522 (127%) and 5722(161%) becomes the tgt...

carried 3x 5500 call + 3x 5100 put pair for 48
added 1x 5400 call as additional booster to 5500 call, as more chance of open above 5368.

 

[rrmhatre72]

Anyone follows international market? Looking for a view on Nokia in stock 50 europe trading at around 6-7 euros an all time high of 40 euros and this year a high of around 12 Euros also trading at 5 year low. Any advice would be appreciated. Looking to buy around 100 shares. Good company and good future in Emerging market not everyone can afford an Iphone. Soon they will have a device that would compete against the iphone or should I hold My gun and let it go lower or higher before jumping in. Many thanks

Hi Nimish,

I do not know if this information is useful to you.
Nokia has manufacturing plant in Chennai, India & I have some friends working over there. I have observed their manufacturing volume is increasing every quarter.
Even during recession time all Electronic mfg industry was reducing capacity where as nokia was increasing it. Next quarter Nokia plans to build 100million handset from chennai+chaina plant. This is going to be the highest volume they have ever achived in one quarter. you are right about new model & that is getting into production mode now.
I do not know profitability on this volume but its clear indication of volume growth.

 

[nimish_rulz]

Nifty ke analysis ke thread pe ab NOKIA aa gaya...? :lol:

If nifty keeps doing 30-40 points tight range intraday... what else can we do...?

Market mein na bull hai na bear hai...bas kuch bakri ghas kah raha hai....

Haha! Linkon Bhai! The thing is trading ke alaawa I keep looking at stocks that can create long term wealth. Apne market main bhi kuch hain but our market is very expensive. Hence I posted it. Abhi sai budape ke soochoon ga toh theek rahoonga jamana bhut teji sai badal raha hai pata nahi mere bache kaise honge aur tab India ka culture might not be very different from what it is in Europe and US. I look at my friends working for multinational firms and they bloody spend their money as if there is no tomorrow.

For me long term saving is a must and the rate at which inflation is going up in India our currency looses value faster than any other in the world toh investment karna bhi jaroori hai and to beat the inflation and then get saving is more important hence the question on Nokia for 4-5 years time horizon. It was trading at 40 Euros now at 6 Euros but again RBS was trading at 10 pound per share and bloody came to 10p and I bought it like there is no tomorrow and sold everything at 50p.