Today is an all important event from a Stock Market perspective, Annual Budget 2012 will be presented today by Mr. Pranab Mukurjee.

Financial Markets will like Budget to be more of fiscal consolidation ie. Controlling the ballooned Subsidies on Diesel,Petrol and Fertilizers etc.
A Pragmatic Budget which paves way for growth by controlling the expenses and getting more revenues is the need of Hour. Will FM oblige us?
From Traders perceptive what matter is to be on right side of market.
Last Budget which was on 28 Feb and Nifty made a High of …

Feelings naturally appear during trading. The feelings we don’t like seem to have roots deep in our unresolved issues. Somehow they get stuck and do not finish passing through, and can cloud the judgment and interfere with trading. The feelings we do like seem to pass through quickly without much trace.
I suggest getting to know your feelings, by experiencing them, expressing them, letting them pass through and finding out they are pretty much all good ones.
Jet engines work best when they are open at both ends.

Bank Nifty

Today is Crucial RBI …

Below is my Interpretation of FII OI data Sheet for 14-Mar-12.

1. FII  bought  31871  Contracts of NF worth 870 cores OI also increasing  by 13041 contracts.

2. As Nifty Futures was up by 38  points and OI has increased by 13041  contracts means  after 2 days of profit booking institutions are back on buying side and fresh longs were formed in market before the crucial RBI meet.
3. Today we Opened with a Gap of 60 Points and the gaps could not be sustained as we have discussed in our Facebook page …

Below is my Interpretation of FII OI data Sheet for 13-Mar-12.

1. FII  sold  1294  Contracts of NF worth 47 cores OI also decreasing  by 9700 contracts.

2. As Nifty Futures was up by 80  points and OI has decreased by 9700  contracts means  profit booking on  longs was done by institutions.
3. Today we Opened with a Gap of 30 Points and the gap never got sold off ie. no gap filling process took place, which basically means lower levels serious buying is emerging. Shorter who got trapped need to closes there …

Doing Nothing is market is also a Habit traders should develop.
Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.”
Reliance Industries

RIL made a pullback till 751 which was an important support area and bounced back  sharply. 815 is the strong resistance above which the momentum can go strong .
 

Buy above 803 Tgt 809,815 and 831
Sell below 792 Tgt 784,777 and 770

 
Bank Nifty
Bank Nifty is on verge …