4 June 2014

NIFTY FUTURE OUTLOOK FOR THURSDAY 05-JUNE-2014

"BUY SAIL 110 CALL @ 2.6 TG 4.6,6.9 SL 1.5"
"SELL IDEA FUTURE BELOW 136 TG 134.5,132 SL 138.8"
Nifty was very range bound today. Only  22 points was attained by nifty .Nifty started at 7415 made a high of 7438 and low 7402 and closed at 7416..Market slipped into the red once again after regaining positive terrain in mid-afternoon trade. It weakened in late trade. but for tomorrow we are expecting that nifty will try to touch  7420-7450. We tend to think that so long as the Nifty future does not fall below the 7400-mark, the bullishness will take place again. There could be a sideways range bound movement for about a week at best before the budget rally begins in full swing during the 2nd half of this month.
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RESISTANCE: 7430, 7450, 7470
SUPPORT:  7410, 7390, 7370

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