Good Morning,
Nifty was in Extreme OverBought zone from last week, after yesterdays minor correction, it has came out from its extreme zone to nutral level. We have seen some profit booking from 6048 levels in last session but some more corrective move can be seen today also till 5946-34 if it does not sustain around 5980 level. A strong support has been formed at 5890-5920 levels till now and resistance lies around 6052-6080 which will not be crossed easily.
As mentioned earlier, due to very fast movement, some profit booking cannot be ruled out. However, those corrections should be taken as an opportunity to get into the market. Still Safe Traders should maintain caution at higher levels.
Yesterday, After 10 days of a bull run, the Indian market took a breather and came in for a bout of profit booking. After some choppiness, it however, managed to come off the lows of the day and close with small losses. Sectors that were weak today included capital goods, infrastructure and IT while those that provided good support were banking and financials plus auto. Top Nifty gainers were Maruti Suzuki, ABB and HDFC while lossers included JP Associates, Cairn India and RCom
Today also we advise SAFE TRADERS, please be very careful at higher levels, avoid creating fresh long position at higher level.
:: FII Activity ::
FII activity in Equity Rs. +914.77 Cr. as on 22nd Sept. 2010
FII activity in Futures Rs. -1717.40 Cr. as on 22nd Sept. 2010
DII activity in Equity Rs. -973.81 Cr. as on 22nd Sept. 2010
Resistances : 6004-6048-6066 (Bold indicates strong level)
Supports : 5950-5928-5904 (Bold indicates strong level)
:: Trend Decider Level ::
Good Above 6012 and Weak Below 5960
:: Todays PreMarket Trades ::
Nifty LTP: 6002.15 High: 6048 Low: 5953.05 Previous Close: 6011.65
All StopLoss and Targets are Fake Only Members Get Actual Levels
Uptrend
If opens flat and moves up or comes back after giving low
Buy around 6012 with StopLoss 2914
Target 6210
If sustain above 6042 for 5mins 2nd Target 6241-82
If opens Gap Down or does not break 5980
Buy around 5986 with StopLoss 3976
1st Target 6212 2nd Target 6252
If sustain above 6042 for 5mins 3rd Target 6292-6322
All StopLoss and Targets are Fake Only Members Get Actual Levels
Downtrend
If opens flat and moves down
Sell around 5980 with StopLoss 6082
1st Target 4959 2nd Target 4820
If sustain below 5940 for 3mins 3rd Target 4800
If opens Gap Up or Comes Back after giving High around 6038
(Dont Sell if it crosses 6042 level even once)
Sell near 6032 with StopLoss 6192
1st Target 5912 2nd Target 5796
All StopLoss and Targets are Fake Only Members Get Actual Levels
:: Positional Trade Alert ::
New Short term Risky Sell Signal (Please trade in small quantities only.)
Sell around 6072-82 with SL 6120 Targets 2948-2934-2922
ALL TRADES ARE RISKY - TRADE IN SMALL QUANTITY ONLY
:: 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.
Join angeltrade.vardhman@yahoo.com for Live Trades and BTST Trades
Visit vnifty.blogspot.com Regularly to Earn Regularly
...WISHING YOU A VERY HAPPY TRADING...
