21 September 2013

NIFTY OUTLOOK FOR MONDAY

Nifty started in green i.e. above 6100 but couldnot sustain it throughout the day,slipped till 5960 but again ended at 6012.Chances are we would see a flat opening  we need to see if the index manages to get past the 6100 immediately of course the resistance to watch out for is located at 6120. Today, the sequence of resistance levels is as follows  6120, 6150....

Monday  there is every possibility of some serious profit taking happening. At higher levels expect quite a bit of profit taking and no fresh long positions should be taken given the kind of closing near the day’s low by the US indices. Thus, we need to be quite circumspect in taking fresh long positions and be keenly vigilant about the ones that are outstanding.

More about intraday tips on google +
RESISTANCE:6050, 6100,6150
SUPPORT:     6040, 5980,5950

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