NSE - NIFTY Recommendation

Nifty made the closing today above 5000 with the negative biased. Today it made the gap down opening & after it just witnessed the range bound movement. We are technically still expecting that market may witness more correction from the current levels. In the downside 4660 to 4700 is looking the key support base for nifty future. We recommend that traders could initiate shorts position in nifty future below 4980 for the targets of 4900 to 4905 for intra day trading.
 
for June 09, 2010

Nifty witnessed overall the downside consolidation phase for the first half & in the second half of trading it witnessed some sharp correction. Technically the next support for the nifty future seems to be around the level of 4850. Closing below this support may drag it the nifty future till the lower levels of 4700 to 4710 in near term. We had already recommended that one could go for sell on rise in nifty future. For tomorrow intra day trading traders could initiate the shorts position below the level of 4930 for the targets of 4865 to 4870.
 
Nifty is still not sustaining at higher levels & after every rally it witnessing the profit booking. In the downside still we are expecting more correction from the current levels. We recommend that one could go for sell on rise in nifty future until it made closing above 5200. In the downside 4900 to 4930 is looking the good support base. Closing below this support zone may slide the nifty future till the lower levels of 4700 to 4710 in short term.
 
nifty Likely to go UP : June 11, 2010

Nifty made the some sought of recovery from the support level close to 5000. Today it made the strong closing with good volume accumulation, so for tomorrow we might expect this upside could continue & we could expect some more upside from here. In the upside still 5200 to 5220 is the crucial resistance zone for nifty future. So, for tomorrow trading traders seeking intraday tips could long nifty future for the target of 5200.

 
For Next Week (June 13 to 19, 2010)

Nifty still not crossing the key short term resistance zone of 5200 to 5220, closing above this resistance zone may consider as the indication of trend reversal & we could expect more bounce fom there. As per the current trend of nifty future we could expect that it could hold the trading range of 5000 to 5200 for few trading sessions. We recommend that traders should watch out the level of 5200, if it does not crosses this level one could short for the target of 5000 to 5005 in near term.
 
Nifty continue the upward rally today & in the end managed to close above 5200 mark. Technically now it is looking that 5250 would be next hurdle for it. Closing above this resistance may take up it till the higher levels of 5315 to 5325 in near term.in the nifty future. We recommend that traders could hold long position for the targets of 5320 to 5325. Those who like to initiate the long position could do above 5250.
 
For Next Week (June 21 to 26, 2010)


Nifty faced the resistance close to the higher level of 5300 today. It was overall the range bound movement with negative bias. Now technically still we are expecting that nifty future is looking strong due to overall holdings of the support levels. One could expect some more upside close to the levels of 5335 to 5350 in near term. In the downside the intraday support seems to be around the levels of 5200 to 5205. We recommend that traders could focus on both side if it break 5300 that they could initiate long in it for the target of 5350 & if it does not break 5300 so they could go for sell on rise in it for the targets of 5210 to 5215 in near term.
 
Nifty future today continued the upward rally and made the short term resistance breakout in charts. In the end it made the strong closing above the breakouts. Now in nifty future we might expect the strong upside rally from here. the next key hurdle for the market is seems to be around 5400 level. Closing above this hurdle could take up the nifty future till the higher level of 5550 in near term. As we had already recommended in our previous reports that one should initiate the longs in nifty future above 5250. Now traders could book some profit here because market may face some resistance close to level of 5400. Those who like to initiate the new longs in nifty future could do above the resistance of 5400.



 
Nifty today trade with the negative biasness for the whole day and in the end closed with the modest loss. In the upside the key resistance point for it is 5400. Closing above may rise up till the higher level of 5500 in short term. As now in short term we might expect some range bound movement in market and could correct from the higher levels. So we recommend that if it does not break 5400 then traders could go for sell on rise in it for the target of 5250 to 5260 in intra day.
 
Nifty witnessed the slight correction today & in the end managed to close above 5300 level. Today one thing was very vital that is the recovery from the support level of 5300 which means that market still holding the up trend & could continue the same trend for while. One should focus on long side in nifty future above 5400 for the targets of 5500 & 5550. In the intra day trading we might expect the lower levels of 5250 to 5260 if it break again 5300 to 5295.
 
Nifty witnessed the volatile sessions back by the f&o expiry. Today it was consolidation close to the level of 5300. Still it is holding the support levels of 5290 to 5300. Closing below this support could drag it till the lower levels of 5200 to 5210 in near term. In the upside the key resistance seems to be around the levels of 5400. We recommend that traders could go for long in nifty future with the intra day stop loss around 5290 for the targets of 5375 to 5380.
 
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Nifty witnessed the yet another correction from the higher levels, as we keep mentionining in our previous reports that one could go for sell on rise until it close above 5400 for the targets of 5250 & 5200. Now in the next week we could expect some more correction in it. In the downside the 5200 would be key support. Closing below this support could slip it till the lower levels of 5115 to 5120 in short term. The short term resistance zone now we could see close to the levels of 5345 to 5350.
 
Nifty has closed above the immediate resistance at 5328 levels and next hurdle could be 5355 levels any sustained move above 5355 can take nifty towards 5380-5400 levels and closing below 5280 may take it down to 5240 levels in near future. We expect nifty to trade in a range of 5260-5380 in near future. Article on Share Indian Market Sensex facing resistance at 17800 above this it may soon move upto 17850-17900 in near future and has immidiate support near 17650 levels and closing below this can take it to 17500-17400 in near future.
 
Nifty as expected touched the low of 5236.05 below 5280 levels and now next support seen at 5200 levels. All major technical indicators are giving weak signals so we might see 5200 levels in short term, and on the upside immediate resistance is at 5300 and 5350 levels, there is higher probability of selling on higher levels in next few trading sessions.
 
Nifty still holding the broad trading range of 5200 to 5350 from few trading sessions. In the upside still 5400 of the major resistance. Closing above this may take up nifty future till the higher level of 5500 in near run. In the downside closing below 5200 may drag it till the lower levels of 5080 to 5100 in near run. For intraday trading we recommend short in nifty future with the stop loss of 5400 for the targets of 5200, 5150.
 
Technical View on NSE-BSE for 07, July, 2010.

National Stock Exchange

Nifty witnessed the yet another strong session above 5260 saw rally upto 5310 levels. Now next crucial hurdle to watch out will be 5325, any sustained move above this level can take nifty future to 5350 - 5380 in short term. 5260 and 5225 will act as strong supports in short term.

Bombay Stock Exchange

Sensex also witnessed the yet another strong session above 17520 saw rally upto 17643 levels. Now next crucial hurdle to watch out will be 17680, any sustained move above this level can take sensex to 17720 - 17800 in short term. 17520 and 17400 will act as strong supports in short term.
 
Re: Nifty - Sensex Opening and Closing Levels

For July 08, 2010

Nifty Levels

Nifty witnessed the yet another correction from the higher levels, nifty facing strong resistance at 5310 and if trades below 5225 we may see some more correction in nifty in coming days, and on the upside any sustained move above 5320 may take it to 5350- 5380 levels.

Sensex Levels

Sensex after facing strong resistance at 17650 saw correction up to 17450 levels, now major support on the downside is 17400 below which we may see sensex going down to 17200 levels and on the upside move above 17650 we may see upward movement to 17800 levels.
 
For july, 09, 2010

Nifty holding the 5300 level & today it was overall the high side consolidation in nifty after the positive gap up opening. In the upside the short term resistance seems to be around the levels of 5345 to 5350. Closing above this resistance zone may lead towards the levels of 5380 to 5400 in near term. In the upcoming trading session we may expect the high volatility in market. For the trading one may go for sell on rise in it until it closes above 5350 for the target of 5200.
 
For July 10, 2010

Nifty today broken the short term resistance zone of 5350 to 5360 but could not be able to continue the upper rally and got consolidated around the higher levels. It was overall the positive trading session for market. Now in upcoming trading sessions the key resistance zone seems to be around 5395 to 5400. Closing above this resistance zone may further confirm the price hike in market. In the downside closing below 5300 to 5305 may drag it till the lower levels of 5230 to 5235 in near term. We recommend that traders should watch out the 5400 level if it does not break then one may go for sell on rise for the targets of 5230,5200.
 
For 13th July

Nifty future today lead towards the higher level of 5400, as we already mentioned in our earlier report that decisive closing above 5345 to 5350 may continue the upward trend for a while. Still nifty future did not break the 5400 level, but overall looking strong on charts. In the downside the short term floor for nifty future is seems to be around the levels of 5290 to 5300. Traders should focus on buy on dips in nifty future until it close below 5300.
 
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