11 January 2013

NIFTY OUTLOOK FOR MONDAY

Buy DLF 230 put @2tg 3.40,4.90 sl .90
Buy Unitech 42.5 call @.50 tg .90,1.30 sl .20
The call given of LT future in post achieved first target.
NIFTY OUTLOOK FOR TOMORROW
Nifty ended the week with a loss of 17.35 points  at 5951.30.A surge of 16 percent by India's Number 2 software services provider Infosys could not repair dented sentiments in the market. The end-of-day  chart pattern of the Nifty indicates that, in all likely hood, we are going to see an initial round of volatility that may be encapsulated between the levels of 5980 and 5950....
Thus, you would have to wait till you get some sort of an initial sign of strength or weakness depending on which level is taken out by the Nifty. If it the fundamental data happen to be good yet the index stays below 5970 then it should be interpreted as a sign of weakness. And once you see 5955 is also not holding out you know that the market would then be showing clear sign of weakness. Further down, trading below 5943, we might well be headed for 5920.

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RESISTANCE:5950 5990, 6000
SUPPORT      :5920, 5900, 5890

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