Good Morning,
On the last trading session of the week, the market closed with a cool-down effect gripping it. It recovered a bit in the last half-an-hour with the help of RIL, SBI and pharma sector but couldn't recover the losses. Selling pressure is taking its toll on the market and among sectoral indices metal, auto and realty are the worst hit. Top Nifty gainers were Hindalco, RCom, RIL and SBI and losers included Tata Steel, M&M and JP Associates.
We mentioned, a strong support zone have been formed at 6060 level and Resistance now we see is at 6206. We still see Nifty heading towards Lifetime High in this October or before November mid, but all technical charts are suggesting for a down move from here. This may happen as we seen the Price Action and FIIs strength which can change the scenario.
We still recommend our all members that NEVER trade with emotions & feelings BUT always with the Levels only. Be very concious at higher levels and Book Profit time to time. Safe Traders are requested to trade in small quantity today.
:: FII Activity ::
FII activity in Equity Rs. +586.22 Cr. as on 8th Oct. 2010
FII activity in Futures Rs. -321.21 Cr. as on 8th Oct. 2010
DII activity in Equity Rs. -1002.01 Cr. as on 8th Oct. 2010
Resistances : 6144-6168-6226 (Bold indicates strong level)
Supports : 6120-6090-6060 (Bold indicates strong level)
:: Trend Decider Levels ::
Good Above 6120 and Weak Below 6100
:: Today's PreMarket Trades ::
Uptrend
Buy at 6126 with StopLoss 61..
Target 61..
Downtrend
Only if opens gap up and moves upside
Sell around 6192 with StopLoss 62..
Target 61..
For Risky Traders
If opens flat around 6130
Sell at 6116 with Stoploss 61..
Target 60..
:: Positional Trade Alert ::
Given Buy near 61.. with StopLoss 60..
1st Target 62.. 2nd Target 6... 3rd Target 6...
We see this expiry above 6300 level. But please trade with strict stoploss.
:: Remember Always ::
All our levels mentioned are of Future Nifty not Spot Nifty.
All PreMarket and Live Trades are for Intraday Trading only.
Please do not enter any PreMarket trade after 3:15.
We suggest to keep at least 1% of its price as SL in All Equity Stocks.
Kindly compare your trading with our performance report daily.
Join angeltrade.vardhman@yahoo.com for Live Trades and BTST/STBT Trades
...WISHING YOU A VERY HAPPY TRADING...
