Weekly Review
It was a good week for the Indian market which was able to break the nine-day trading range of the Nifty and give a closing above the 5400 mark for the second day running. Yesterday, the Nifty closed on a new 30-month high, the first time since February 2008. This week's performance was average.
Market Today
Nifty may open flat today. We suggest our positional traders to Start booking profit from 5478 level, till our final target 5540-5600. Nifty seems to be in overbought zone again. So be alert and keep strict stoploss in all trades. Today, 5430 level may work as good support. Todays Resistance will be 5476 and than 5500. Same stratagy to be followed, which we are following from last 2 weeks, Buy in Deep and Sell at High.
Resistances : 5454-5478-5496-5520
Supports : 5432-5422-5400-5378
:: Trend Decider Level ::
Good Only Above 5440 and Weak Below 5430
No Trading Zone between this two levels.
:: Todays Live Trades ::
Uptrend
Buy around 5444 with StopLoss 5424
1st Target 5464 2nd Target 5474
If sustain above 5478 for 2 mins 3rd Target 5496
If opens Gap Up near 2nd target wait to cross and sustain above 5478 for 5 mins
Downtrend
Sell around 5502 with StopLoss 5522
1st Target 5488 2nd Target 5468
Sell below 5428 with StopLoss 5452
1st Target 5416 2nd Target 5402
:: Positional Nifty Alert ::
Given BUY around 5230 with SL 5180-65 to NEW-or-Fresh Positional Investers for Target 5542-5600 in July Expiry.
Please Revise your Stoploss to 5400 as of Now.
Start booking profit from 5474 (25%), 5502 (25%), 5540 (25%) and last 5568 (25%)
:: 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...
