25 April 2014

NIFTY ABOVE 6900 ON 28 APR 2014

Buy SBIN future above 2080 TG 2105,2120 SL 2065
Sell DLF future below 155 TG 152.40,150.10 sl 157.80
The AXIS bank call given in lat post achieved first target and TATATSTEEL call rocks!!!!!!!!achieved all targets.
Being the first day of the new series for derivatives and positive global cues giving a boost to the market we have seen  a  gap up opening today..Nifty as we have predicted was in bullish mood in initial trading session it made a high of 6902 in morning session. But ICICI        bank results were out during the market hours and were below expectations so market trimmed the losses and dropped till 6825 in the end....
Now he most critical zone now would be the range between 6840 and 6860 . Once the Nifty stays above this range, we can expect it to move further up to 6890, or even it could scale up to 6939 shortly. We tend to think that so long as the Nifty does not fall below the 6800-mark, the bullishness is likely to continue.

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RESISTANCE: 6,850, 6,880, 6,910

SUPPORT:  6,830, 6,800, 6,780

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