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Saturday, 8 February 2014

Nifty February 2014 series analysis forecast for 10 Feb 2014 - 8 Feb 2014

Hi,

Stock Ideas update

Last day we gave a trading idea for INFY : 
http://blog.tracknifty.com/2014/02/infy-analysis-forecast-for-7-feb-2014-6.html

INFY opened above our first target itself at 3587 and achieved second target and just missed 3rd target.

HDFCBANK achieved all targets making high of 654.5. Idea was discussed here : 
http://blog.tracknifty.com/2014/02/stock-ideas-for-intraday-trade.html

ICICIBANK is consolidating at lower levels and might take a dip towards 12th Feb 2014, so advice is to hold it and dont apply any stop loss as from 13th - 19th Feb 2014 sharp rally is indicated in our time forecast which is updated now :
http://nifty-forecast.tracknifty.com/2014/02/nifty-forecast-for-january-2014.html
Nifty 7 Feb 2014 analysis

Nifty showed much higher wild swings as we reached exact mid-point of our second time band of 5-12 Feb 2014. 
http://nifty-forecast.tracknifty.com/2014/01/nifty-forecast-for-january-2014_30.html
As we are trading markets using our time forecast so we are mentally prepared for all this. Time forecast is now emerging as an invaluable tool to gauge market. 


Nifty remained uncomfortable at higher levels. 
Importance of 6080 was written in our last analysis report  under Advice For Traders section

http://blog.tracknifty.com/2014/02/nifty-february-2014-series-analysis_6.html


FII buying indicator is weak as written earlier also, so their buying is not up to the mark and they eventually ended up with -267Cr sell figure. DII are now aggressively buying daily ending the day with 627Cr buying figure.

On the derivative front, FII bought some Index futures but bought Stock futures quite handsomely. 

Mid-Cap stocks shined, but IT stocks, and some banks remained sub-dued indicating lack of enthusiasm.


Nifty trade update

We closed our 5900 PE sell idea with profit of 40%.
http://nifty-trade.tracknifty.com/2014/02/nifty-february-2014-series-trade-5.html

We are now in a profit of 198 Nifty points and more than 70% of Options gains after first week of February 2014.

Also we have sold Nifty future yesterday. 
http://nifty-trade.tracknifty.com/2014/02/nifty-february-2014-series-trade-6-7.html

Nifty forecast for 10 February 2014

Nifty is expected to show dis-comforting nature at higher levels as we are in a time band of wild swings. So selling Nifty at stretched position will be good. 

Advice for traders

Exit longs if any after any positive opening.
Levels : 6107 - 6045

Forecast for Feb 2014 Nifty is updated http://nifty-forecast.tracknifty.com/2014/02/nifty-forecast-for-january-2014.html

And fresh Nifty shorts are initiated http://nifty-trade.tracknifty.com/2014/02/nifty-february-2014-series-trade-6-7.html



Anjum S Khan
admin@tracknifty.com
Admin/Analyst
TrackNifty.com