Nifty & Market Update/Performance/S&P 500,NASDAQ 100 Analysis

PERFORMANCE:

On 14th November 2017, we suggested to buy Voltas (Future &Option) among high volatility session of  children day . We suggested to buy Voltas (FUT) around 580 for target of 600--625+.Our 1st target was tested within the same session and we were waiting for our second target of 625+.Today it made high of 614.95. before settling at 613.60.Folks Be patient our target within reach.We also  suggested to buy Voltas 590 CE  around 12--10 for target of 25--30+.Our 1st target was tested within the same session and our second target of 30 was tested today as it made high of 31.50 before closing at 29.95. Our called proved fruitful and we were able to mint profit of Rs 18000 on 1 Lot or return of 150% in two trading session.On the same we suggested to buy  Voltas 600 CE  around 8 for target of 20+.Today our target of 20+ was met as it made high of 24.50 before closing at 23.80.Our call proved fruitful and we were able to mint profit of Rs 15800 on 1 Lot or return of 97.50% in two trading session.

S&P 500 and NASDAQ 100 Forecast

S&P 500

The S&P 500 drifted lower initially during the trading session on Wednesday and then eventually fell rather steeply towards the 2555 level. However, we have bounced significantly since then, as algorithmic trading comes back into play. The question now is whether we can break above the 2575 handle. When I look at this chart, I noticed that the 24-hour exponential moving average is starting to turn lower, and of course, at the beginning of the 24-hour session, we had seen the stochastic oscillator start to cross in the overbought section. I think that this signifies that we will eventually drift lower, and at that point go looking for more significant support at perhaps the 2550 handle. Quite frankly, the S&P 500 desperately needs to find value underneath, as we have gotten a bit ahead of ourselves on the longer-term charts. Ultimately, this market will continue to be very volatile, so keep your position size small if you can.

If we are to break down below the 2550 handle, the market should then come down to the 2525 level underneath, and then eventually the 2500 level. Longer-term, I am still a buyer, but I also recognize that we need to do some work to continue to build up the momentum. Eventually, I believe that the market can break above the 2600 level, but it is going to take quite a bit of volatile action and momentum building to finally have that happen. I think that a selloff in the S&P 500 is extraordinarily important, as it gives us an idea of value, which has been missing in this market for quite a while. The markets continue to be noisy, so keep that in mind. I am very cautious about shorting this market again.

   

NASDAQ 100

The NASDAQ 100, of course, did the exact same thing, as algorithms turned the market back around near the 6225 level. There is a significant amount of resistance above, and extending to the 6300 level, so I don’t have any interest in trying to go long of the market until we were to break the 6325 handle, something that I don’t expect to see today. I think that the market probably continues to drop a bit, perhaps finding enough support at the 6200 level to turn things around. During the past year or 2, the NASDAQ 100 typically will lead the other US indices higher, so I’m waiting to see this market rally as it is a bit of a tertiary indicator for other stock market indices in America. Right now, I believe that the stock market in general needs to cool off and build a bit of a base as we had gotten ahead of ourselves. 

   

Dow Jones 30

The Dow Jones 30 fell immediately during the trading session on Wednesday, reaching down as low as the 23,250 region, before bouncing significantly. However, the 24-hour exponential moving average is offering dynamic resistance, and I have marked on the chart something that I noticed yesterday, the stochastic oscillator crossing in the overbought condition, which shows a significant amount of stagnation. I think that this market, much like many other stock markets, needs to pull back to find value underneath. That being said, I am not a seller the Dow Jones 30 because I believe in the longer-term uptrend. If you are nimble enough, you could be a short seller, but I would do that with very small position sizing. As for going long, I need to see a higher time frame give me the signal to start buying.

   

MARKET UPDATE:

Bargain hunting lifts Sensex 346 pts after 3-day loss; RIL, Infosys, PSU Banks lead.All the sectoral indices on the National Stock Exchange ended in the green with the PSU Bank topping the list, up 3.2 percent followed by IT (up 1.75 percent). FMCG, Metal and Realty indices gained 1 percent each.The market staged smart come back on Thursday after three-day of losses, rallying one percent driven by banks, technology, energy and FMCG stocks. Bargain hunting in blue chips, easing crude oil prices and positive global cues pushed benchmark indices higher.The 30-share BSE Sensex closed above 33,000-mark, rising 346.38 points or 1.06 percent to 33,106.82 while the 50-share NSE Nifty gained 96.80 points or 0.96 percent at 10,214.80.Infosys was leading contributor to Sensex' gains, rising nearly 4 percent, may be on hope of good earnings growth from 2018 onward.Rapid pace of recapitalization process has kept the PSU bank stocks buoyant. Bank of India, Union Bank, Indian Bank, Allahabad Bank, OBC, PNB, Bank of Baroda, Canara Bank and Syndicate Bank rallied 4-6 percent while SBI gained 2.6 percent.Reliance Industries, Bajaj Finance, ICICI Bank, TCS, Vedanta, Tata Motors and Aurobindo Pharma among others rose 1-3 percent while Bharti Infratel rebounded sharply, rising nearly 2 percent after losing 8 percent in previous two sessions. Adani Ports, BPCL and Coal India were major losers, falling 1-2 percent.Realty stocks gained strength after the Cabinet has approved hiking carpet area cap for housing interest subvention. Prestige Estates, DLF, Brigade Enterprises, Kolte-Patil, Peninsula Land and Puravankara gained 2-4 percnet. HDIL was up 4.5 percent as it made part debt repayment to Andhra Bank.Anil Dhirubhai Ambani Group stocks rebounded sharply today. Reliance Communications was up 19 percent while Reliance Infrastructure, Reliance Capital, Reliance Home Finance, Reliance Nippon Life and Reliance Power rallied 1-9 percent.--

MORE WILL UPDATE SOON!!