Posts Tagged ‘ NSE ’

Pivot Point Trading

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Nifty, above 6000

The market is likely to range trade between 5,950-6,250 in the next week with slightly lower volumes. This would be a normal consolidation after a breakout. In the  intermediate to long-term ( 6-8 weeks), we can look forward for 6,350 for the Nifty.

The short-term trend is negative, the intermediate and long-term trends are positive.

Weekly/daily Charts patterns suggest that the 6,350 target will be reached, but, the past two sessions also suggest that it will take several sessions to absorb selling pressure between 6,050-6,250. On the downside, 5,950 will provide strong support.  

Kudos..Indian Stock Exchanges

In terms of total turnover of all stock futures contract, NSE recorded the highest amount of about 285 billion dollars during the month, which was nearly 20 times its nearest rival EuronextLiffe’s 14.6 billion dollars.

BSE, the world’s biggest stock exchange in terms of number of companies listed, is among the lowest ranked bourses in terms of number of stock futures contracts and their turnover.

A word of Caution

lot of hot money is chasing the Indian stocks & more numbers of stocks getting into  F&O leading to more & more trading & higher intra day volatility.  15 stocks are getting listed on NSE FNO side on 30th Nov & most of these stock are already appreciated between 5-20% today itself.

I wonder FNO give leverage to speculator or its a hedging tool with a Investor? All depend how you use it……