Market Today
Good Morning, Nifty is now looking more and more volatile everyday. Its very crutial stage as there is no reason to go upperside. We dont see any technical reason for further upmove. Fundamentally also it is not looking to go more upperside than 5950 level. As mentioned earlier, please be very careful at higher levels, avoid creating fresh long position at higher level.
Yesterday, We have not given any trades. It was a perfect positive day for Nifty which showed good performance and closed with good gains. Global cues were quite flat but strong domestic cues, like good IIP and inflation data, have kept the upward momentum in our market going. Today too, the largecap stocks outperformed the smallcaps and midcaps and sectors like oil & gas, metals, technology posted good gains. FII played a very significant roll today with more than 2200 Cr. buying in equity.
Today is the judgement day for Nifty, again we may see a volatile session as seen in last 2-3 days with good volumes. Technically, Nifty is in OverBought zone from 9th Sept. 2010, Thursday. We may see some corrective move if it does not sustain at closing basis above 5950 level in coming sessions. We may wittness this correction till 5670 level anytime. A support has been formed at 5710 to 5724 levels till now and resistance lies around 5890-5920 which will not be crossed easily. We may find some profit booking around 5900-20 levels in todays session.
Still, SAFE TRADERS are requested to avoid trading for today, also.
:: FII Activity :: Once again REMARKABLE
FII activity in Equity Rs. 2214.99 Cr. as on 13th Sept. 2010
FII activity in Futures Rs. 63.22 Cr. as on 13th Sept. 2010
DII activity in Equity Rs. -909.96 Cr. as on 13th Sept. 2010
Resistances : 5870-5904-5922 (Bold indicates strong level)
Supports : 5830-5790-5760 (Bold indicates strong level)
:: Trend Decider Level ::
Good Above 5864 and Weak Below 5834
:: Todays Market Trades ::
Uptrend
Buy around 5872 with StopLoss 5***
1st Target 5*** 2nd Target 5***
If it sustain above 5*** for 1-min ***
Downtrend
Sell below 5830 with StopLoss 5***
Target 5***
If comes down after giving high above 5916
Sell around 5*** with StopLoss 5***
1st Target 5*** 2nd Target 5***
Than Follow Downtrend
:: Given BTST Trade::
Buy at 5862-52 StopLoss 5830
1st Target 5*** 2nd Target 5***
(Please book full profit around 5***)
:: Positional Trade Alert ::
Given BTST in Nifty at 5810 for Target 5870 with StopLoss 5795
(Achieved)
:: 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...
