Good Morning,
Nifty may open gap up due to international market support near our 2nd Target of Yesterdays Trade at 5110.
Safe Traders are advised not to buy in Gap Up Opening, a short term correction may come till 5060.
:: Nifty Overall View ::
Yesterday we posted the Message regarding all charts and fundamental theory which were suggesting confusing signal. And told that we may see a very heavy movement in next 2 days.
Yesterday itself we seen the momentum started from 01:00 PM. A huge volume buying seen in Nifty, which can be Overbought Signal. As far as Nifty hold 4986, it may bounce back till 5204 (Told in 7thJune10), still we see Nifty in Danger as far as it stays below 5151.
Resistances : 5122-5144-5166-5188 (Bold Indicates Strong Resistance)
Supports : 5101-5078-5056-5026 (Bold Indicates Strong Support)
:: Trend Decider Levels ::
Above 5100 : Good and Below 5060 : Weak
:: Todays PreMarket Trade ::
Uptrend
Buy around 5102 StopLoss 5080
1st Target 5122 and 2nd Target 5142
Risky Trade : Only If Nifty sustain above 5150 for 5-mins
Buy at 5152 with StopLoss 5140
1st Target 5168 2nd Target 5182
Downtrend
Sell Below 5070 with StopLoss 5080
1st Target 5049 2nd Target 5036
Nifty if sustain near 5036-46 than we may see a Uptrend from this level
Buy near 5038 with StopLoss 5018
1st Target 5058 2nd Target 5076
Risky Trade : Only If Nifty after making High of 5140-46 comes Down
Sell at 5132 with StopLoss 5151
1st Target 5104 2nd Target 5090
:: Be Alert ::
Safe Traders are suggested to do Intraday Trading with Downtrend untill Nifty crosses 5151.
As given Positional traders, to Enter Above/at 5034 Level for Target 5374 with SL 4948 in June Expiry, revise your STOPLOSS 5020
:: 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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...WISHING YOU A VERY HAPPY TRADING...
