20 January 2012

NIFTY TIPS NIFTY OUTLOOK FOR TOMORROW

MARKET TREND FOR 23 JAN 2012
Market showed a significant gain and bulls supported the market to trade up. As nifty has managed to cross the psychological level of 5000 these days .We find nifty derivatives have seen both short covering and fresh long build up. Index is likely to face a resistance between 5062 and 5100,itb would be a real tough hurdle for it to cross this .The consolidation would imply absorption of supplies between this supply zone.
The upswing of index in the largest upswing maintained for nearly a month . But we should remain alarmed if nifty falls below 4990 then would lead to profit booking by sell off in market at any time.
Our nifty strangle strategy is rocking now. Our 4800 put is @2.50 and 4900 call is @161.35 i.e. in all  more than 60% profit. You can book now  4900 call around RS 160.
NIFTY  LEVELS FOR TOMORROW
RESISTANCE1
5069.90
SUPPORT1
5018.07
RESISTANCE2

5090.60
SUPPORT2
4987..32
RESISTANCE3
5141.95
SUPPORT3
  4936.44   

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