20 December 2012

NIFTY STRATEGY

Nifty strategy:--
Sell Nifty 5900 call @55 and Sell Nifty 5900 put @30 ( Target Book cumulative price 35 )(sl cumulative price 110)
NIFTY OUTLOOK FOR TOMORROW
As we have predicted nifty traded between the range of 5920-5950 today. The S&P CNX Nifty lost 13  to 5,916, its lowest closing level since 18 December 2012. The index hit a low of 5,881 in intraday trade. The index hit a high of 5,937.60 in intraday trade....
Nifty  ended slightly down on Thursday, largely unmoved by the results of assembly elections in Gujarat and Himachal Pradesh. BJP's decisive win in Gujarat was on expected lines, and to a large extent, the Congress was expected to gain from the anti-incumbency wave in Himachal.. Initially, if you find the index taking out 5950-mark, it can head higher beyond 5950 but it needs great strength to move above the range between 5990 and 6000.
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RESISTANCE:5940 5970, 6000
SUPPORT      :5900, 5880, 5840

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