Nifty (5530) has closed positive +78points Nifty on 13th week from low of 4786 has seen a high of 5546 Nifty long term moving average supporting market 200DMA which 5154 and 100DMA is 5258 any close below 5400 major weakness is seen.
FIIs data if carefully read they are buyers in Cash as well as Option where Puts are 32% of the total open interest @ Rs.63,456crs and they have also hedged in Nifty & stock futures so they would make money if market corrects. Indian exports in July grew 13.2% to $16.24 billion; the slowest since November 2009 as demand for the nation’s textiles, tea and rice weakened in the U.S. and Europe, Imports in July were $29.17 billion, up 34.3%, while trade deficit was $12.93 billion. Indian trade deficit is on the rise as global slowdown and excess global capacity makes Indian goods uncompetitive.
Derivative Data: With 4trading days to go for the settlement Nifty PCR-1.65 Market overall Open interest is Rs.1,94,324crs which is matching with January2008 crash levels. Nifty alone has around 64% position Rs.1, 24,136crs of which Nifty Futures Open position is 22,229crs Nifty Option alone Rs.101907crs and Put alone is Rs.63456crs outstanding position which is more that 32% of the total derivative market which is in dangerous proposition. Whenever Option writers go wrong market crashes and it rarely happens once in 2year.
PSU Power stocks is where I see more safety POWERGRID, NTPC, NEYVELILIG, PTC, NHPC and these stocks have underperformed markets and downside risk is minimal compared with stocks which has outperformed as these stocks are under owned. Season of Underperformer turning Outperformer as Banking stocks showing signs of profit booking after excellent rally. TATA group stocks TATAELXSI, NELCO and TINPLATE looks good for long term investors to slowly accumulate.
http://prabhakar-views.blogspot.com/2010/08/benefits-of-reading-research-report.html we live in a world of free flow of information and with so many channel’s, newspaper, brokers reports and analyst report is available.
http://akprabhakar.com/HindenburgOmen.php What is Hindenburg Omen? The Hindenburg Omen is a technical analysis pattern that is said to portend a stock market crash. It is named after the Hindenburg disaster of May 6, 1937, during which the German zeppelin Hindenburg was destroyed.
http://akprabhakar.blogspot.com MRPL shows Inverse H&S formation in Weekly graph
TATACOFEE all time high http://akprabhakar.com/tata.php
