Good AfterNoon,
Current Nifty Spot at 5312.50
Current Nifty Future at 5318.95
High 5323 Low 5225
Market Today :
It was a remarkable day for the Indian market which completely outperformed its global peers, fought off weakness in US and Asia and traded positive. There was good buying in oil & gas, FMCG and media stocks and heavyweights like Reliance and ONGC helped the market stay up. Sensex shut shop at 17700, up 166 points and Nifty at 5312, up 56 points from the previous close. CNX Midcap index was up 0.5% and BSE SmallCap index was up 0.4%. The market breadth was positive with advances at 763 against declines of 515 on the NSE.
We told in our morning post that we likely to wittness the recent 7th April 2010 highs of 5400 levels very soon if Nifty sustain and close above 5354. Still we suggest you to avoid shorting at all level.
As expected, Todays MARKET was very Volatile, hope all are safe...
Reasons behind Volatility in Market:
RELIEF PACKAGE RELEASED IN EUROPE OF 650BILLION EUROS
The European Central Bank said it will lend banks 131.9 billion euros ($161.5 billion) @ 1% for three months as a landmark year-long loan expires.
MUTUAL FUND
All Mutual Fund have closed market at Higher level as today was the last day for month, to have a Higher NAV.
:: Given Trend Decider Level ::
Good Above 5230 and Weak Below 5218
Today there are no permarket trades.
:: Given Todays Live Trades ::
Uptrend
Buy at 5230 with StopLoss 5206
1st Target 5248 2nd Target 5268
If sustain above 5278 for next 5-minutes than 3rd Target 5298-5314. (Achieved)
Downtrend
Sell around 5294 with StopLoss 5318
1st Target 5272 (Achieved)
2nd Target 5258 (Came till 5266)
Risky Trades for Risky Traders
Buy at 5277 with StopLoss 5251
1st Target 5294 (Achieved)
2nd Target 5314 (Achieved)
:: Positional Nifty Alert ::
NEW-or-Fresh Positional Investers may BUY around 5230 with SL 5180-65 for Target 5542-5600 in July Expiry.
:: Suggestion-LongTerm Stratagy ::
IF you are holding Long Positions, Keep Stop Loss Below 5220.
IF you are holding Short Positions, Keep Stop Loss Above 5398
:: Remember Always ::
We suggest to keep at least 1% of its price as SL in All Equity Stocks.
All our levels mentioned are of Future Nifty not Spot Nifty.
All PreMarket and Live Trades are for Intraday Trading only.
Let your friends and relatives also ENJOY our LIVE Trading
Tell them to Join Us on YMessenger ID : angeltrade.vardhman
...WISHING YOU A VERY HAPPY TRADING...
