Market Today
Good Morning, As per Technical charts, we see nifty in Oversold zone from yesterday itself but again now it is in a neutural zone.
Yesterday was somewhat a choppy day for traders which gave a closing in the green but after having given up most of its opening gains. Nifty, managed to cling to the 5400 mark. Global cues were quiet-to-positive but we witnessed volatility amid a sell-off in infrastructure and IT. And news of Direct Tax Code being tabled in the Parliament. The government introduced the Direct Taxe Code (DTC), which would now be applicable from April 1, 2012, instead of March 1, 2011.
As told earlier, Each and everything against bullish trend and breaking 5430 level it may go till 5400-5378 levels. As seen Nifty taken support at 5391 level on Monday, it seems to move up till 5460-90 levels in short term. Also we see, 5380-5390 levels, if broken, it may go more down till 5260 level in this week itself. So, this means keep STRICT STOPLOSS in both side while trading.
:: FII Activity ::
FII activity in Equity Rs. 184.41 Cr. as on 30th Aug. 2010
FII activity in Nifty Rs. 419.84 Cr. as on 30th Aug. 2010
Nifty Current: 5426.20 High: 5465 Low: 5391.35
Resistances : 5430-5454-5480 (Bold indicates strong level)
Supports : 5404-5390-5364 (Bold indicates strong level)
:: Trend Decider Level ::
Good Above 5404 and Weak Below 5404
:: Todays PreMarket Trades ::
ONLY MEMBERS CAN VIEW THIS TRADES
Uptrend
Buy at 5*** with StopLoss 5***
1st Target 5*** 2nd Target 5***
Downtrend
Sell below 5*** with StopLoss 5***
Target 5***
For Risky Traders
Sell near 5*** with StopLoss 5***
1st Target 5*** 2nd Target 5***
If sustain below 5*** for 2-mins 3rd Target 5***-**
Buy around 5***-** with StopLoss 5***
1st Target 5*** 2nd Target 5***
Special Stratagy for Volatile Opening :
If open Gap Down and dont break 5400
Buy around 5*** with StopLoss 5***
1st Target 5*** 2nd Target 5***
If sustain above 5*** for 5-mins 3rd Target 5***
If open Gap Up
Sell at 5*** with StopLoss 5***
Target 5*** 2nd Target 5***
If does not break 5*** than follow SAFE TRADES
:: Positional Nifty Alert ::
Given Buy Nifty around 5***-5*** till 5*** for Target 5***-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.
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...WISHING YOU A VERY HAPPY TRADING...
