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Pre Market Report, March 26, 2014

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March 26, 2014
6 comments
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March 26, 2014
Time: 8.20 am

Pre Market Report:

  1. US markets rose after batter than expected Consumer Confidence data.
  2. So Asian markets are also up.
  3. SGX Nifty is trading at 6640.
  4. After testing 6600 many times, after consolidating for more than 10 trading sessions, to it will be a break out again.
  5. But it is time to be cautious due to expiry tomorrow.
  6. Markets tend to be volatile during the expiry week.
  7. Expiry is expected to be between 6600 and 6700.
  8. If everything goes well, Nifty should expire around 6680.
  9. Today Nifty should take support at 6580.
  10. The resistance will be at 6660.
  11. There are no important news flow on specific share or economy. The only positive news is the positive global cues.
  12. So any profit booking will bring volatility.


Written By

Options Trader and Trainer

Comments

  1. Unknown26 March 2014 at 12:08

    Sir, do you now believe in well analysed Josiyam ? CNX Pharma painted in Red

    ReplyDelete
    Replies
    1. P R Sundar26 March 2014 at 15:45

      My opinion about most technical analysts: "Operation success and patient dead" Just like Harichandra believes in speaking truth, it is a belief system. But do most technical analysts make money? I doubt so. If you can meet me, I can show you that I have made Rs 40 Lakhs in the last 10 trading sessions, a whopping Rs 4 Lakh per trading session. All these I could do without any technical knowledge. But how many technical people have made money in the last 10 trading sessions?

      Delete
    2. P R Sundar26 March 2014 at 15:50

      Though Pharma index fell by 2%, look at Auro Pharma. Rs 25 Lakh profit made only in Auro Pharma in the last three months. Once again if you can meet me I can show you. So why should I bother about Pharma index being weak. Pharma index is not tradable like Bank Nifty. So what is the point of knowing this, the actual profit can be made only in stock selection. So look at my stock selection. So anything haapens to me at my old age, my entire medical bill will be met with my last three months profit in Auro Pharma!

      Delete
  2. Unknown26 March 2014 at 20:35

    Yes Sir, I already said, you are master when it comes to Selling options. Wise Options writers like you would make money irrespective of market direction.

    I do not use the same style of Tech analysis how others do, It took me many months to learn. I just said I got it spot on with predicting Pharma Index, even Tech analysis (Josiyar) can be right 75-90% of the times depends on the quality.

    Anyways Sir, I like your blog hence posting my views.

    ReplyDelete
    Replies
    1. P R Sundar26 March 2014 at 20:55

      I am just giving my views. One of my close friends is a technical analyst. He has been trying to convince me about technicals for the last many years. But I was not convinced. Just like I believe in God and a Nathigan does not believe in God, it is just a belief system. Otherwise please do not take any thing personal. You are most welcome to express your views in this blog. Soon I will be publishing a book called,"Panguch Sandhai, Therinthathum, Theriathathum". We are likely to launch the book in April. When it comes, you read, you will get more insight about the stock market.

      Delete
    2. Unknown26 March 2014 at 22:34

      Sure Sir, that book would be helpful to many. I'm mostly a fundamental oriented. I follow technicals also, in short-term markets move mostly based on technicals and sentiment. If one keep it simple, he/she can earn in markets. First thing for any newbie to understand is, how stock market functions. For that they need to read books/views of unbiased people.

      Delete

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