Market Today
Good Morning, Nifty might open some gap up. Technically, we see nifty in Oversold zone, so please dont create fresh Short position in this kind of market, wait for confirmation.
Last week was a poor week for the Indian market which took a sharp knock following European jitters and weak cues from US markets. It was also F&O expiry week so there was some more volatility. But the action was more stock specific than sector specific. Due to profit booking in IT, realty, financials, FMCG and autos dragged the market down.
As we told in our 23rd Aug. post, Each and everything against bullish trend, You can see what is happening. We told that breaking 5430 level it may go till 5400-5378 levels. Now 5380-5390 levels can act as strong support, which, if broken, may help Nifty to go more down till 5260 level in this week itself. As we seen Nifty has taken support at 5398 level on Friday, which does not seem good ONLY for Bears.
:: FII Activity ::
FII activity in Equity Rs. -108.16 Cr. as on 27th Aug. 2010
FII activity in Nifty Rs. -221.77 Cr. as on 27th Aug. 2010
Nifty Current: 5415.75 High: 5489.90 Low: 5398.05
Resistances : 5430-5454-5480
Supports : 5404-5390-5364
:: Trend Decider Level ::
Good Above 5416 and Weak Below 5400
:: Todays PreMarket Trades ::
Uptrend
Buy above 5*** with StopLoss 5***
1st Target 5*** 2nd Target 5***
(Buy till 5*** for 1st Target)
Downtrend
Sell only below 5*** with StopLoss 5***
1st Target 5***
For Risky Traders:
If open Gap Down
Buy at 5*** with StopLoss 5***
1st Target 5*** 2nd Target 5***
If open Gap Up
Sell at 5*** with StopLoss 5***
Target 5***
:: Positional Nifty Alert ::
Buy Nifty around 5***-5*** till 5*** for Target 5***. Keep Strict Stoploss 5***
:: 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.
...WISHING YOU A VERY HAPPY TRADING...
