Market Today
Good Morning, Nifty is in very crutial stage. At current situation, there is no reason to go upperside, not a single indicator shows positive signal as per technical or as per fundamental terms.
Nifty is in Extreme OverBought zone from last week. 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 also.
Please be very careful at higher levels, avoid creating fresh long position at higher level. Wait for some healthy correction then only create any fresh position in any scripts. Till then stay away from market. Today is the judgement day for Nifty, volatility may continue again and we may see good volatile session with good volumes as seen in last week.
Last week, Nifty managed to briefly close above 5900 mark, the first time since January 17, 2008, and the banking space posted life-time highs. We have given more BTST Trades than Intraday Trades due to such market conditions.
Still, SAFE TRADERS are requested to avoid trading for today also. Safe Traders are really Safe due to such stratagy.
:: FII Activity ::
FII activity in Equity Rs. 1518.76 Cr. as on 17th Sept. 2010
FII activity in Futures Rs. 498.71 Cr. as on 17th Sept. 2010
DII activity in Equity Rs. -747.24 Cr. as on 17th Sept. 2010
Resistances : 5904-5928-5950 (Bold indicates strong level)
Supports : 5870-5830-5810 (Bold indicates strong level)
:: Trend Decider Level ::
Good Above 5900 and Weak Below 5890
:: Todays PreMarket Trades ::
BE A MEMBER TO VIEW FULL TRADES
Uptrend
Buy around 5906
Sell around 5926
Downtrend
Sell below 5890
:: Given BTST Trade::
Buy at 5885-95 StopLoss 5840
1st Target 5920 2nd Target 5940
(Please book full profit around 5925-35)
:: Positional Trade Alert ::
No new Positional Trades
:: 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...
