7 September 2013

NIFTY STRATEGY FOR 10-09-13

Buy Nifty 5800 call @ 75 and Buy Nifty 5500 put @ 65
NIFTY OUTLOOK FOR TOMORROW
As we have predicted Nifty opened  above 5600 and was able to cross 5650 on sustainable basis.It made a high of 5680 and a low of 5574.Indications from the technical chart studies are quite bullish  the index might well try to scale up and test 5690 supply zone today itself. Immediately, the levels between 5700 and 5725 might offer some resistance. Any move above this range would meet with another stiff resistance between 5730 and 5750. ...

We expect a lot of profit taking around the Nifty levels between 5710 and 5730 , if at all reached, for a number of reasons those levels are also the projected levels for any major pullback corrective rally, and  it’s a long weekend our markets are closed for Ganesh Chaturthi celebrations on Monday next.

RESISTANCE:5680, 5730,5780

SUPPORT:     5640, 5580,5550

10 comments:

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