Last Week, we termed it as the best week in a year.
We mentioned in our 9th July PreMarket Post that Nifty may witness strong movements above 5320 levels, any sustained above this level can take nifty to 5346–5378, and we seen 5367 on charts same day. It was overall the positive trading session for market.
Now in todays trading sessions it seems Nifty may face some Resistance around 5390 levels. It will get a strong Support at 5310-5330 levels in Downside. Closing above given Resistance may further confirm our Positional Target 5540-5600, as per Green Signal given to Positional traders from 1st Week of this Expiry.
:: FII Activity ::
FII activity in Equity Rs. +1104.08 Cr. as on 9th July 2010
FII activity in Nifty Rs. + 1059.54 Cr. as on 9th July 2010
Resistances : 5336-5368-5392-5418
Supports : 5318-5306-5286-5264
:: Trend Decider Level ::
Good Above 5358 and Weak Below 5342
No Trading Zone for Safe Trader Between these levels
:: Todays PreMarket Trades ::
Uptrend
Buy above 5344 with StopLoss 5326
1st Target 5370 2nd Target 5384
If sustain above 5390 for next 2-minutes than 3rd Target 5402
If opens Gap Up near 5360-67
Than also Buy with StopLoss 5326 for above targets, dont wait for market to come down.
Downtrend
Sell at 5322 with StopLoss 5348
1st Target 5309 2nd Target 5290
For Risky Traders (If Opens gap down)
Buy around 5328 with StopLoss 5302 1st Target 5346
For Risky Traders
Sell at 5386 with StopLoss 5404
1st Target 5368 2nd Target 5358
:: Be Alert ::
Today also there will be very volatile session so be very quick to react.
:: Positional Nifty Alert ::
Given BUY around 5230 with SL 5180-65 to NEW-or-Fresh Positional Investers for Target 5542-5600 in July Expiry. Revise your Stoploss to 5230 or follow special stratagy as mentioned in earlier posts.
:: 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.
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...WISHING YOU A VERY HAPPY TRADING...
