11 February 2014

NIFTY OUTLOOK AND OPTION STRATEGY FOR TOMORROW

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NIFTY OUTLOOK FOR TOMORROW
Nifty started at 6072, it moved in a range of 20 points only finally ended at 6062.The weekly chart suggests a possible reversal of the short term downtrend. The opening is also likely to be higher around 6070 – 6090 range. Today, we expect the Nifty to cross the 6100-mark tomorrow  it would be much better, however, to see the index closing above 6129-level. In case of any intraday profit taking unless the Nifty drops below 6030 support area and stays there, the bulls would retain their momentum....
Any bounce back from levels close to 6050 would see lot of fresh buying since the support of 6050 as a base for further upswing would have been established by then.
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RESISTANCE:6060, 6090,6130

SUPPORT:     6040, 6030,6000

1 comment:

  1. I am changing my trade plan and your blog is such a support and source of inspiration to me

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