14 June 2012

NIFTY TIPS FOR 15 JUN 2012

 Nifty tanked more than 1% on Thursday as rising inflation for May diminished hopes of further monetary easing and weak European markets added fuel to the fire. Meanwhile, the NSE benchmark slipped 66.70 points to 5,054.
Inflation for May rose to 7.55% as against 7.23% in previous month that certainly dampened hopes of rate-cut by the Reserve Bank of India in its mid-quarter policy review on June 18,  RBI may surprise on Monday
 First level to watch out for would be 5080—if the index trades below this level then 5060—a key support level in any circumstance—after that,5010 is the levels in the Nifty that we should be keenly monitoring.......
Till such time one see such an event comes to pass the bulls would not be too bothered. 
 Sell signals have come in  Nifty and short positions can be now initiated on rallies. One could have another retest in case things are turn out to be positive and investors could have another excursion towards 5100-5120 but now on rallies this should be, sell on rallies and long positions should be cut.  Basically, it is a hollow market and we keep doing this up and down building up hopes and then see them crashing down.

You can also check for option
Resistance 1
5100
Support 1
5030
Resistance 2

5150
Support 2
5000
Resistance 3
5200
Support 3
4950


2 comments:

  1. Its very nice to read the article. This is extremely helpful for me and hope for every one too. in indian stock market, nifty futures and nifty options

    ReplyDelete