Monday, April 2, 2012

EOD Analysis for 2nd April 2012 and Outlook For 3rd April 2012

OI in Nifty futures @ 25 million in the morning session; VIX hovering around 22-23 levels
This week being a shorter week, prudence advised as far as options are concerned; the premium burn rate will be pretty fast esp if we get stuck in a range of 100-150 points

Critical levels and outlook remain unchanged from Friday's levels; markets seem to be strong on daily/weekly time frames and a short term bottom seems in place; falls will provide good buying opportunities from an investment perspective;

Trading levels can be checked on Raghuji's blog for the EW perspective and SMO's blog for EMA perspective

On individual stocks, 2 counters to watch out are Bharti Airtel and Tata Steel; [rarely do I put individual counters on the blog and these are exceptions from my end :D]

Bharti Airtel: If it manages 2 consecutive closes above 340, it may race to 355-360 levels as well in the subsequent session

Tata Steel: 2 consecutive closes above 475 and the counter may race to 500-520 levels [and this will be very closely linked to Nifty's performance as well ;) Last week, Tata Steel and LnT were the first to confirm bullish divergences IMHO]

Other Updates
Pleased to inform that RCG[ji] is back in action and now he is kicking bhootnees :D

Vishal's operation was pretty much successful but he is is under observation in the hospital as per the last update I got; 

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