16 January 2012

NIFTY TIPS NIFTY OUTLOOK FOR TOMORROW(17 Jan 2012)

There was good start for the week as the index started with 4844.But soon declination triggered in morning session itself. Again bulls retain the fire power to push index upwards and make it reach the level of 4880 the highest for today’s trade. Finally nifty settle at4873 points The upward momentum shows nifty may cross the level of 5000 very soon. We would need to monitor the performance of support range between 4840-4830.

 Market has been in narrow range for the past few days we .Expect it to break range with upward bias we suggest strangle strategy in nifty you can buy Nifty Jan 4800 put @35 and Nifty Jan 4900 call @ 65.


 NIFTY LEVELS FOR TOMORROW
RESISTANCE1 4893.97                SUPPORT1 4839.07
 RESISTANCE2 4913.48               SUPPORT2 4801..32
RESISTANCE3 4996.68                SUPPORT3 4753.44

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