2 June 2014


“Sell DLF Future Below 210 Tgt 207.40/205.30 Sl 212.80” 
“Buy Tata steel 530 Call @8 Tgt 12.50/16.60 Sl 5.50”
calls given on Friday are not executed 
In first trading session of the week
bullish momentum was continued in nifty future. Today market Opening was toward down side but at the end of session it touched the new highs. As we have predicted the level of 7255, today’s nifty future starting was at 7255 made a high of 7379 and low of 7239 and closed at 7370.total 140 points was played by nifty future. For tomorrow the levels between 7255 and 7270 would act as the first hurdle on the way up and beyond that 7300 could be the next barrier. Going further up, the level of 7350 is a formidable resistance.
In the Bank nifty index the top on the weekly chart leave a lot to be desired for the bulls. Rather, it is quite likely that the index may fall even further to test levels between 14525 and 14475 going forward this week. Unless the Bank Nifty manages to get past 14941 through 14988, there will be a real problem for the bulls since any failure to cross this range would signify inability to even get past the first hurdle. Any sustained price movement below the level of 14776 would signify further fall in the index and banks would continue to find lower lows.
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RESISTANCE: 7380, 7410, 7430
SUPPORT:  7360, 7340, 7320

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