Market Today
Nifty opened at 5311.25, above our Targets of pervious days LiveTrade. It was a good day for traders of the Indian Stock Market which saw a strong session following positive cues from global markets. Nifty made highs surged as a hike in 2010 global growth forecast from the International Monetary Fund, firm global stocks and stock market regulator Securities & Exchange Board of India (Sebi)'s decision to reduce exposure margins for stock derivatives, boosted investor sentiments. Expectations of strong Q1 June 2010 corporate earnings also contributed to the rally. At one stage the Nifty had crossed the 5320-30 level but it fell again in late trade due to profit booking.
As we told Nifty is seen in range bound between 5230-5310. Our Fundamental analysis shows this Level as a Buying Opportunity. Uptrend have strong resistance levels 5320-25. As yesterday it has been crossed so now it may touch 5350-80 in coming days if it holds 5282 as strong support.
We are bullish from the start of this expiry till 5540-5600 levels.
:: Given Trend Decider Level ::
Good Above 5320 and Weak Below 5282
:: Given Todays PreMarket Trades ::
Uptrend
Buy above 5298 with StopLoss 5280 (Open 5311.25)
1st Target 5318 (Bought at this level)
2nd Target 5333 (Achieved)
If sustain above 5342 for next 2-minutes than 3rd Target 5362-82 (Not Came)
Downtrend
Sell at 5270 with StopLoss 5298 (Not Came)
For Risky Traders
Sell at 5338 with StopLoss 5348 (High 5339.50)
1st Target 5318 (Achieved)
2nd Target 5300 (Close 5305.10)
:: Given Todays Live Traders ::
Buy at 5320 with StopLoss 5296 (Still Active)
1st Target 5342 2nd Target 5362
:: 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 5120 or follow special stratagy.
:: 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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