Online Stock Trading

Forex Day Trading: unique and opportunities

Day trading in the foreign exchange or Forex market provides significant opportunities, as compared to the other market segments. A day trader is a trader who will often make several trades per day. Forex day trading involves traders buying/selling currencies on a daily basis. Forex day trading is sometimes simply referred to as normal forex trading.

Day Trading: Forex vs Stocks

There are people who try to raise their profits by capitalizing on a small appreciation in currency values. Forex day trading possesses superior liquidity, with the foreign currency exchange market being the largest market in the world. Stock liquidity is, however, volatile, since it reduces after the trading hours. There is no such problem with the Forex market, as it is open 24-hours a day.

The key benefit of Forex day trading over day trading in stocks is that instead of traders investing and then waiting for many months or even years for the stock values to appreciate, they can gain from the daily rise and fall of currency values.

Forex Day Trading: the process

To be able to take part in day trading in the Forex market, a trader first needs to open an account. The amount required to open an account is different for different companies. There are a lot of agencies that provide brokers who act as mediators for either a firm or an individual in the market. Brokers are the people who educate firms and individuals on the way through the foreign exchange market. A broker is primarily focused on assisting traders to get through the market before there is a significant loss.

A few Forex agencies provide traders with software that assist in Forex trading. This software exhibits the ups and downs of currency values via chart diagrams, graphs and data flow diagrams. The software is extremely efficient in depicting the current statistics for the currencies in question. A Forex day trade usually involves currencies being traded in fixed pairs, with the key currencies traded being dollars, pounds, euros and yen. In Forex day trading, there are no commissions being paid to brokers and no exchange fees, and the transaction fee is fairly low.

Unlike the market for stocks, there are no restrictions for selling the currencies short. This means that as a Forex trader, one can make money as easily in the bear market as in a bull market.

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NIFTY

6/07/09 NIFTY RANG CMP 4424 BUY ABOVE 4426 TARGET 4464/4485/4510 &SELL BELOW 4320 TARGET 4270/4234/4205.
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NIFTY

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Calls for Mon 6th July by MoneyVidya.com’s top investors

MoneyVidya.com’s unique rating system identifies the top stock pickers from all our members. Here is what our top performers are saying today.

Short Term:
bkgala (5/5 stars) – BUY JSW Steel for one month with a target of 660
niftyjaduger (5/5 stars) – BUY Max India for three months with a target of 250

Medium Term:
niftyjaduger (5/5 stars) – BUY Tulip Telecom for six months with a target price of 1150
sheels (5/5 stars) – BUY Igarashi Motors India for one year with a target of 30

Long Term:
shrivallbha (5/5 stars) – BUY Indowind Energy for two years with a target of 88

Check out more free stock picks and become a 5 star analyst yourself on MoneyVidya.com!

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Astrology charts for July and Intraday

Astrology charts for July and Intraday also introduced.
http://www.kpastrology.com/IntradayMon/default.htm

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JOIN FOR DAILY PROFIT WWW.BSENSE.TK

PROFIT CHALLENGE….. ERAN PROFIT … OTHERWISE REFUND CHARGES… HURRY JOIN NOW !!!!!!!!!!!!!

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RAILWAY BUDGET-2009

Union Railway Minister Mamata Bannerjee today presented the Railway Budget for 2009-2010 which saw passenger fares and freight rates remaining unchanged. The Railways has also announced 12 non-stop services between select cities. She stated that unrealistic targets set in the interim budget are not sustainable in FY10.
This is her third Railway Budget (she served as the [...]

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Watch Pre-market Calls & Online Calls – Event Date: 03 Jul 2009

Date : 3.07.09

 Nifty (Future) : Buy above 4356 sl 4335 Targets 4397,4415 Or if trades below 4297 Short Nifty Future. SL 4315 Targets 4266,4245

 Intraday Calls :

TATASTEEL : Buy above 422 sl 415 Targets 435,442 Or if trades below 404 Short TATASTEEL SL 411 Targets 395,389

GAIL : Buy above 322 sl 315 Targets 336,345 Or if trades below 297 Short GAIL SL 304 Targets 285,272

 NOTE: Always check charts before trading. All levels, targets, sting. All levven here are in cash market. Pl ease adjust for futures yourself.

BOOK PROFITS AT YOUR DISCRETION AT THE LEVELS OF EITHER ONE, TWO, OR THREE PERCENT RISE OR FALL IN THE STOCK VALUE. AT EITHER FIRST OR SECOND TARGETS.

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Stock Market Technical View

Will She, Won’t She ?

The Nifty gained 8 points over the day to close at 4348. A day of unplayable volatility that saw the index rally in the first hour of trading and then collapse abruptly till late in the afternoon only to witness a sharp rally once again towards the end. The move in the last couple of days clearly explains the kind of indecision in the minds and trades of the markets participants before the big event coming Monday. Technically, there is nothing negative on the charts as yet and hence we believe that the uptrend is intact. The level for 14300 is the immediate support and ideal stop for short-term trading positions. The candlestick pattern formed yesterday is mildly bullish while the hourly DM indicator is in buy mode. After yesterday’s trading action the indices seem to be
forming a large “Triangle” pattern, which we shall present in detail in our weekly report next week. The averages continue to stay below the price action. For the day, support seen at 4295.

Overall, it would be interesting to see as to how the railway budget today affects the markets as they remain in a range but on the verge of a breakout either side.

 Today’s Strategy

For Intra-day, Nifty has resistance at 4383 and above that 4414 and it has support at 4322 and below that 4288.

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Daily Stock News

Corporate News – Industry trends

* Maytas Infra Ltd, announced that lenders have agreed to infuse Rs 1bn capital immediately into the company apart from restructuring its Rs 16bn debt (BS)

* Punj Lloyd said it had bagged three contracts worth Rs 18.7bn from
the Housing and Infrastructure Board of Libya for infrastructure related
works (BS)

* Ashok Leyland has bagged a Rs 3 bn order for 1,500 buses from Tamil Nadu State Transport Corporation (BL)

* Tata Steel, plans to sell global depositary receipts (GDRs) worth about US$600 mn (BS)

* Pyramid Saimira Theatre Ltd (PSTL) paid a part of its interest portion to Patni Financial Services at Madras High Court. It paid Rs 25 lakh, of the total of Rs 50 lakh, as interest on the loan of Rs 5 crore that it had borrowed from Patni Financial Advisors (BS)

* Housing Development & Infrastructure Ltd (HDIL), a Mumbaibased property developer, has raised Rs 16.8bn from global investors, such as KKR, Blackstone and Fidelity, in a (QIP) of its shares (BS)

* Century Textiles and Industries, will spend nearly Rs 6.2bn in the first phase of Century Mills land development in Mumbai, according to information put out by the company (BS)

* RIL will partially shut its old refinery in Gujarat for two-three weeks, starting on Friday (Mint)

* After a long-drawn fight with real estate player Hiranandani over its investment vehicle Hirco Plc, Laxey Partners — an activist shareholder in the company — exited its investment by selling its entire stake in Hirco to global investor HSBC (BS)

* Strides Arcolab partially buys back two tranches of its FCCBs. It bought $18.50 mn aggregate face value from a $100 mn FCCB at a discount of 12% and another other set of $2 mn aggregate face value at 15% discount. (BL)

* DLF Ltd to raise Rs 3-5 bn by selling its stake in a joint venture with Akruti City for a commercial project in Andheri (DNA)

* NTPC eyes $500 mn Japanese funds for green-energy push, company plans to build additional capacity of 3,300 mw this year (ET)

* Hindalco Industries, receives approval from lenders to amend the terms of a $982 mn loan it had obtained to part-finance the acquisition of Novelis Inc., the lenders will now consider only the financial performance of Hindalco Industries on a standalone basis (BL)

* Emami’s mops up ~Rs 3.10 bn by issuing some 1,00,00,000 equity shares of Rs 2 each at Rs 310 per share to 8-10 QIBs. (ET)

Economic/Regulatory development
* The pre Budget Economic Survey 2008-09, said India could grow up to 7.75% in 2009-10, up from 6.7% in 2008-09, provided the global economy, particularly the United States, bottomed out by September and the government was able to push the button on significant economic policy reforms (BS)

* The wholesale price index fell 1.3% in the week to 20 June from a year earlier after tumbling 1.14% in the previous week (Mint)

* Truck rentals are set to rise 6 to 12% after diesel prices were raised by Rs 2 a litre yesterday (BS)

Commodity/Money Market News

* Unilever plans to spend US$140 mn on building Russia’s largest ice cream factory to tap the country’s increasing appetite for cones and popsicles. The plant is expected to produce its first ice cream at the start of 2011 (BS)

* The European Central Bank kept its key interest rate unchanged at 1% (Mint)

* US unemployment rate rises to highest level in 25 years (Mint)

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