Good Afternoon, the market was very strong from morning session and continued to rally with strong buying seen in metals, realty, auto, oil & gas. Into the last hour of trades, Nifty continued its upward momentum and has crossed the 5580 mark and given High 5589.25
So, in short Indian market closed the first day of a new week with huge gains after a wonderful session which saw strength across the board. Global cues were good so our market opened gap-up and thereafter surged through the day only to close on a firm footing.
As told on mobile as per Technical charts, we see nifty in Oversold zone, market bounced from lower levels as expected. We suggested safe traders to wait till confirmation while shorting at lower levels since last week. We told earlier, that it can move up till 5460-90 levels in short term. Hope positional traders achieved their targets.
:: FII Activity ::
FII activity in Equity Rs. 283.02 Cr. as on 3rd Sept. 2010
FII activity in Nifty Rs. 89.14 Cr. as on 3rd Sept. 2010
Resistances : 5506-5528-5554-55 (Bold indicates strong level)
Supports : 5492-5474-5464 (Bold indicates strong level)
:: Todays PreMarket Trades ::
Given Sell around 5510 with StopLoss 5528 (SL HIT)
1st Target 5490 2nd Target 5470
:: Todays Live Trades ::
Given Buy at 5570 with StopLoss 5550
(INTRA)1st Target 5590 (HIGH 5589.25)
(BTST) 2nd Target 5600
Given Buy Nifty around 5390-5400 till 5380 for Target 5520-5530. (ACHIEVED)
We see Nifty at 5600+ for September Expiry, till it gives close below 5360.
:: 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...
