Good Morning,
Current Nifty Spot at 5312.50 and Current Nifty Future at 5318.95
Market may open Negative due to Global cues, likely to take support at 5250-60. Below 5230 we see nifty to fall till 5180-65 levels. Short Selling at higher level is Recommended Today.
Reasons behind Volatility in Market:
MARKET is very Volatile from Monday, due to many reasons, be concious every moment.
RELIEF PACKAGE RELEASED IN EUROPE OF 650BILLION EUROS
The European Central Bank said it will lend banks 131.9 billion euros ($161.5 billion) at 1% for three months as a landmark year-long loan expires. (This lead Jerk from 5266 to 5297 in 9 Seconds yesterday)
MUTUAL FUND
Yesterday was the day for Mutual Fund, so all Mutual Fund have closed market at Higher level, to have a Higher NAV. Today we will witness its aftershock.
SEBI’s RECENT GUIDELINES
It will be crucial to see the effect of SEBI’s recent guidelines regarding the disclosure norms of FIIs. The market regulator has asked the FIIs to announce any short positions that they are taking in the market immediately.
NOTIFICATION FROM RBI
Reference Letter No. RBI/2009-10/514DBOD.Dir.BC.116 /13.03.00/2009-10
Banks' Exposure to Capital Market – Loans extended by banks to Mutual Funds and Issue of Irrevocable Payment Commitments (IPCs)
Report on Currency and Finance to be released on July 1, 2010 at 5.00 PM
:: FII Activity ::
FII activity in Equity Rs. +589.88 Cr. as on 30th Jun. 2010
FII activity in Nifty Rs. + 95.82 Cr. as on 30th Jun. 2010
Volume Watch :
Yesterday Nifty July 2010 futures were at 5318.95, at a premium of 6.45 points over spot closing of 5312.50. Turnover in NSE's futures & options (F&O) segment declined to Rs 80,424.10 crore from Rs 82,409.73 crore on Tuesday, 29 June 2010.
Resistances : 5280-5310-5330-5354
Supports : 5264-5254-5230-5180
:: Trend Decider Level ::
Good Above 5309 and Weak Below 5282
NO TRADING ZONE BETWEEN THIS TWO LEVELS
:: Todays PreMarket Trades ::
Uptrend
Buy at 5310 with StopLoss 5282
1st Target 5330 2nd Target 5348
If sustain above 5358 for next 5-minutes than 3rd Target 5374-5384.
Downtrend
Sell around 5292 with StopLoss 5314
1st Target 5272 2nd Target 5258
Risky Trades for Risky Traders
Buy at 5258 with StopLoss 5232
1st Target 5282 2nd Target 5302
Risky Trades for Risky Traders
Sell at 5232 with StopLoss 5258
1st Target 5212 2nd Target 5198
If sustain above 5196 for next 5-minutes than 3rd Target 5186-82.
:: Positional Nifty Alert ::
NEW-or-Fresh Positional Investers may BUY around 5230 with SL 5180-65 for Target 5542-5600 in July Expiry. (Still Not Active)
Please Note: Given BUY around 5320 in earlier post but even that was not triggred.
:: 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...
