KEYS TO TRADE IN NIFTY

v Market may open flat to slightly higher.  Nifty could gain 5 points at the opening bell. 

v The rupee snapped four weeks of losing string and recovered by 44 paise to close at three-week high of 60.16 against the US dollar

v Down jones 45 points up  16,512.

v NIKKIE 27  points down  @ 14,457.

v HENG SENG 45  points down @ 21,888.

v Results today  :  Canara Bank,Emami Ltd., Piramal Enterprises Ltd. , Tube Investments of India Ltd. , Ajanta Pharma Ltd.

NIFTY OUTLOOK FOR MONDAY 05-MAY-2014

"Sell LT Future Below 1270 TGT 1262/1258 SL 1278"

"Buy Reliance 1120 Call @ 14 TGT 21/25 SL  7 "
NIFTY FUTURE OUTLOOK FOR MONDAY

On Friday nifty was completely range bound it started with 6750 made a high of 6778 and low of 6720 and closed at the level of 6726…nifty played 58 points throughout the day. The index swooped down to test levels close to 6650 but closed much higher. However, an interesting thing happened on the end-of-day  the Nifty and the Bank Nifty both We found a wide ranging day pattern showing a large intraday range with the opening and closing around the middle of the range…the market has become directionless. This means the vicious downswing of the last four sessions has probably come to an end. Either there will be a narrow range bound movement before another directional movement is noticed or a sharp spike up in order to mark the resumption of the earlier intermediate uptrend. However, so long as we don’t see the index getting past 6750 it would not be out of the woods.for Monday we are expecting that nifty will touch the level of 6740-6770.at the other side if nifty will slips down then the 6700 will be proved as a very good supporting level. The last two phases of the extended general elections will take place over the next 10 days.