17 January 2012

NIFTY TIPS NIFTY OUT.LOOK FOR TOMORROW


MARKET TREND FOR 18 JAN 2012
As we have predicted in our last post that the index will soon cross the level of 5000 today it touched the high of 4971.30 very near to 5000.Bulls are in action and will certainly make the attempt to bring index to this level. Nifty hit the level of 4927 in intraday trade.
As we have noticed continous uptrend in index since last two days so we hope that the same upward pace to continue tomorrow and the index may cross the level of 5000.
Any major volume based selling taking the index below 4850 would mean beginning of weakness.
NIFTY OPTION STRATEGY UPDATE
Yesterday we have given nifty strangle strategy @cost of RS100 which is already in profit today 4800 put  closed @ 15    4900 call closed @ 106 continue to hold…….
NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
4983.97
SUPPORT1
4938.07
RESISTANCE2

4997.48
SUPPORT2
4911..32
RESISTANCE3
5043.68
SUPPORT3
  4866.44   

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