View for Monday, November 19, 2012:
After having broken the short term trend line of the last month around 5610 on closing basis, now Nifty is likely to be in consolidation phase trying to form a bottom. The level of 5520-5530 is the support below which gaps exist. With this support level of 5520-5535, Nifty can once again bounce back with short covering rally towards 5650-5700. Trading above 5555 spot price (around 5570 futures price), and closing above 5610 is the first criteria for achieving this bounce. Happy trading !!!
View for Tuesday, November 20, 2012:
The expected bottom formation seems to have happened yesterday and now with the global short covering rally the expected bounce likely to happen today. Nifty is strong above 5585 spot price (around 5605 futures price) for getting a close above 5635 spot (around 5655 futures price) today. Below 5585 spot price, the support level of 5540 has already been tested yesterday. Happy trading !!!
View for Wednesday, November 21, 2012:
Nifty has closed below the median trend line level of 5585 spot for three consecutive days and now poised to test and close below lower levels of 5510 on weekly charts if it fails to close above 5665 spot price either today or tomorrow. Longs only above 5600 spot price (around 5615 futures price). Global cues are positive and market likely to open positive today. Happy trading !!!
View for Thursday, November 22, 2012:
Nifty likely to continue its slow and steady climb towards 5655-5680 spot (around 5670-5695 futures price). The level of 5590 will be the intra day reversal point below which Nifty might weaken further. A small gap up open above 5635 spot (around 5650 futures) is what bulls are wishing for. Happy trading !!!
View for Friday, November 23, 2012:
The break out for intra day will be above 5645 level on spot prices (5660 futures price) should Nifty open gap up and retrace towards the higher level of 5670-5690 (5685-5700 in futures price). The level of 5605 spot (5620 futures price) is the reversal level below which Nifty will be weak. Happy trading !!!
The break out for intra day will be above 5645 level on spot prices (5660 futures price) should Nifty open gap up and retrace towards the higher level of 5670-5690 (5685-5700 in futures price). The level of 5605 spot (5620 futures price) is the reversal level below which Nifty will be weak. Happy trading !!!
View for Monday, November 26, 2012:
Improved global cues over the weekend and Nifty poised for a gap up as expected above 5655 spot (approx 5670 futures price) towards 5680-5710. A close above 5725 spot sets Nifty up for an interesting November series expiry level. Happy trading !!!
Improved global cues over the weekend and Nifty poised for a gap up as expected above 5655 spot (approx 5670 futures price) towards 5680-5710. A close above 5725 spot sets Nifty up for an interesting November series expiry level. Happy trading !!!
View for Tuesday, November 27, 2012:
Nifty has consolidated well around the 5600 levels and entering the last session before the November series expires and looking at the open interest build up, the bullish undertone persists with a range bound trading range between 5635-5675-5735 levels. Nifty will be weak below 5615 spot price. Happy trading !!!
Nifty has consolidated well around the 5600 levels and entering the last session before the November series expires and looking at the open interest build up, the bullish undertone persists with a range bound trading range between 5635-5675-5735 levels. Nifty will be weak below 5615 spot price. Happy trading !!!
View for Thursday, November 29, 2012:
Nifty ends November series today amidst a recovering global market and the positive bias likely to continue towards 5735-5765-5795 levels. The level of 5710 on spot will work as intra day reversal point. Weakness will creep only with Nifty trading below 5695 spot price. Happy trading !!!
Nifty ends November series today amidst a recovering global market and the positive bias likely to continue towards 5735-5765-5795 levels. The level of 5710 on spot will work as intra day reversal point. Weakness will creep only with Nifty trading below 5695 spot price. Happy trading !!!
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