6092 spot price Strong Support level for Nifty entering December series !!!

The December series becomes the current month series for Nifty from today and the levels of 6092 is a strong support level now. Retracement towards swing high of 6212 and 6360 on closing basis is the target for bulls in the immediate short term (5-6 sessions) !!! Below 6155 spot price, intra day shorters will target 6092-6045 levels !!!UUNi

 Nifty Update:

The Nifty  touches all time today buoyed with the state election results and some profit booking can be expected failing to sustain above 6360 on closing basis. Support levels are 6235-6185 immediate short term. Resistances cannot be determined above 6360 as Nifty is trading in a totally new zone and it will take time for fresh resistance zones to develop !!! Happy trading !!!

The Nifty as expected saw profit booking around 6365-6400 level and retraced to the almost the support level of 6155 which was the resistance zone earlier.  A quiet retracement towards 6250 can be expected for the remaining sessions of the December series.  Happy trading !!!

November Series - Nifty begins the Festival of Lights with All time high !!!

Nifty begins the November series touching the all time after ending the October series exactly as projected. Now sustaining above 6200 is the key for November series. Fresh resistance levels need to be built up and till then it is only "long only " positions with 6200 spot price as the hard stop loss or reversal level !!! Happy Diwali !!! Happy trading !!!

November 3, 2013 : Muhurat Trading Session:

Trading zone 6295-6345-6395. Happy Diwali !!!

View for November series:

The correction has begun and Nifty manages to save the break out level of 6200 so far. A deeper correction means levels of 5835-5935 support zone. Otherwise, now above 6275 levels the view remains bullish. Happy trading !!!

The correction of November series continues with November series capped around 6155 levels on spot price. With two days to go for November series expiry, levels of 5970-5920 will be highly probable if 6025 level breaks early in the morning intra day tomorrow !!!