12 December 2012

FUTURE TIPS FOR 13 DEC 2012

Buy ITC future above 309 tg 311.40,313.90 sl 307.50
Sell ONGC future below 256 t 253.20,251.40 sl 258.20
NIFTY OUTLOOK FOR TOMORROW
Nifty started on the positive note but could not sustain the level of 5900 today. Markets remained lack lustre as investors chose to stay on the sidelines despite better-than-expected October IIP number and news of an agreement between government and Opposition on the crucial Banking.  It suggests that the short term uptrend might well have been terminated a corrective downswing will continue .....
The crucial levels to monitor would be between 5903 and 5895 once this support gets violated the selling pressure would increase and the market may start sliding again. On the upside, failure to breach 5920 firmly would also invite quite a bit of selling. Only The nature of the market could well become volatile and large range-bound where the range may not get so easily defined .In case, you see the Nifty sliding down below 5895 then the next support would be at 5880 and then at 5865 only. Once you see a close below 5835, you get the confirmation of the termination of the short term uptrend.
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RESISTANCE:5900 5920, 5960
SUPPORT      :5890, 5860, 5830

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