Opening Bell

The Federal reserve raised the rates it charges banks that borrow from the central bank when they run short of funds.The Fed raised its discount rate by 25 basis points to 0.75%.On this news the entire asian pack have gone down and Indian markets opened with a gap down.Nifty currently trading at 4840.Any close on nifty below 4857 is very bad for the markets, it could lead to a huge correction in the markets.There is a strong support area between 4830-4840.If that is broken then bulls can say goodbye to markets for next couple of weeks.Todays closing is very important for the direction for next couple of weeks.Watch the level of 4857.

Opening Bell

Nifty opened flat, watch the level of 4920 on higher side, if it starts trading abv 4922 then markets can be positive.Have a stop loss of 4890 on spot for any intraday longs.Traders can even short nifty future if spot starts trading below 4890 with stop loss at 4923.

End of the day commentary

Nifty closed at 4914, a shade below the all important 4920 level after having made a high of 4929.70 , the exact target mentioned yesterday.Thought intraday it went below 4895, the positional stop loss of 4885 wasnt triggered.As far as it has closed above 4880 the trend continues to be positive , there is a strong resistence between 4930 and 4951.Which shld be watched, if it manages to close above that then we could head to 5000-5050 levels.On the other side if its unable to cross 4950 levels and starts sliding down then disaster is awaiting to happen.

Opening Bell

Nifty opened with gap up on the back of strong US markets, asian markets too trading with positive bias.Nifty trading above 4920 will add more strength.For intra long have a stop loss of 4896 on spot.For positional longs one can have 4885 as the stop.

End of the day commentary

Wow !!! what a day it turned out to be.A day which was assumed as a dull day turned out to be the most intersting day after many days.Morning Nifty was looking weak , it even broke the 4795 levels but did not trade below that for much time and was trading above 4800 for most part of the day.It was during mid day the blog was updated when 4825 levels was crossed that nifty can be bought, till that point of time nifty spot and future were trading at par later it went to a 5-6 point premium , but towards the end after 3.15 pm there was huge short covering which pulled the nifty future to 4890,almost 13 point premium to spot.Spot closed at 4855.75,Which is a close above the important resistence of 4830 and 4845.Nifty spot should test 4930 in the coming days.Have a stop loss of 4830 on all long positions.

Mid day commentary

BUY NIFTY SPOT ABOVE 4825 STOP LOSS 4800 .

Nifty opened flat with no overnight international cues.Looks like its going to be a dull day again.If Nifty spot starts trading below 4795 sell with stop loss at 4825.Remain cautious,lighten long positions.

Nifty closed at 4801.95, it failed to cross the 4830 hurdle again.When the 4810 level was broken it gave 25 point trading opportunity on shorts.It made a low of 4784.There seems to be distribution happening at higher levels.Since most asian markets were closed today on account of Chinese New year and US markets also closed on account of Presidents day there was no trigger for the markets still it closed weak.Which gives a advance warning of the things in store for coming days.

The IIP figures failed to enthuse the markets, with nifty opening flat to positive at 4827.For the day watch for the level of 4810 on spot.If it starts trading below that sell nifty with a stop loss at 4846.Be cautious in the coming days, markets could correct in a big way.