Good Morning,
Nifty may open gap up due to international market but may come down due to profit booking from 5020-30 till 4980.
:: Nifty Volume Watch ::
Yesterday we told "Nifty still forming SELL signal but a small bounce back for short term will be seen till 5022-48. This time it has generated this pattern with very good volume."
Yesterday's Review: Nifty Actual High 5043.50 (5053.10 was printed)
:: Nifty Overall View ::
Currently all charts and fundamental suggest confusing signal. We may see a very heavy moment in next 2 days.
As far as Nifty stays below 5140, Overall momentum looks weak, nowonwards watch downtrend below 4960.
Resistances : 5024-5040-5070-5090
(Bold Indicates Strong Resistance)
Supports : 5000-4986-4952-4926
(Bold Indicates Strong Support)
:: Trend Decider Levels ::
Above 5060 : Good and Below 4960 : Weak
No Trading For Safe Traders Between this two levels
:: Todays PreMarket Trade ::
(Only For Risky Traders)
Uptrend
Buy around 4982 StopLoss 4962
1st Target 5008 and 2nd Target 5028
Nifty if sustain above 5034 for 2-minutes than 3rd Target 5052-68.
Downtrend
Sell Below 4962 with StopLoss 4982
1st Target 4940 2nd Target 4926
Nifty if sustain below 4924 for 2-minutes than 3rd Target 4900.
:: Risky Trade ::
Only If Nifty opens gap up but does not crosses 5072
Downtrend
Sell at 5052 with StopLoss 5076
1st Target 5024 2nd Target 5008
If Nifty sustain at 5072 for 5-mins than Reverse your trend.
Uptrend
Buy at 5074 with StopLoss 5050
1st Target 5088 Target 5110
:: Be Alert ::
Safe Traders are suggested to keep aside from Intraday Trading and wait till Nifty crosses our trend decider levels.
Positional traders can Enter Above/at 5034 Level for Target 5374 with SL 4948 in June Expiry...
:: Remember Always ::
We suggest to keep at least 1% of its price as SL in All Equity Stocks.
All PreMarket and Live Trades are for Intraday Trading Only.
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