31 January 2013

FUTURE TIPS FOR TOMORROW

Buy Chamblfert future above 67.80 tg 68.90,69.90 sl 66
Sell IndiaCem future below 87 tg 85.40,83.20 sl 88.70
LT future call given yesterday rocks!!!!!!!!!!!!! Where as option call contd.. to hold.
NIFTY OUTLOOK FOR TOMORROW
 Nifty  fell on Thursday as ICICI Bank was hit by profit-booking after beating forecasts with its quarterly earnings, while the expiry of January derivatives kept trading volatile towards the end of the session. Nifty closed at 6,034, lost 21 points. The key level to monitor during the day is located at 6050 this is a kind of a pivot point for the market today, and once the bears take out this level on sustained selling bull liquidation is likely to come in. If  Nifty fell below the major support area between 6040 and 6020 range....
This would also signal the onset of the anticipated corrective downswing—the very range bound movement that we have seen for quite some time made us into believing that any correction would just be a sideways movement and not something that we need to worry about much. This is not going to be the case. There is a strong likelihood that we might see the Nifty testing the zone between 5900 and 5800 prior to any budget rally.

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RESISTANCE:6050 6080, 6100
SUPPORT      :6030, 6000, 5980

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