NSE - NIFTY Recommendation

for April 30 2010

Nifty future witnessed the volatile session back by the futures and options (f&o) expiry. Nifty future still holding the level of 5200 which is positive sign for it. Nifty could continue the uptrend for while. In the upside we might expect the main resistance for the intra day trading around the level of 5350. We recommend that traders could fo long in nifty future from the current levels with the stop loss of 5190. In the upside they might get the targets of 5300, 5320 & 5350.
 
Nifty witnessed the range bound movement today with less volume. in the downside it is still holding the support of 5200. In the upside it is facing the intra day resistance close to the level of 5300. Nifty might continue this upside consolidation for some more time. we recommend that traders could go for long in nifty future from thr current levels until it made closing below the support levels of 5190 to 5200. In the upside we might expect the targets of 5300 to 5325 in near term.
 
Nifty witnessed the range bound movement with the negative biased for the whole session. Today again it gets good buying support close to the support of 5200 & made the some recovery from it. In the tomorrow session we might expect the trading range of 5200 to 5290 in the nifty future. Closing below 5200 might drag it till the lower levels of 5145 to 5150 in near term. We recommend that traders could go for sell in nifty future below 5200 for the target of 5100 to 5105.
 
Nifty made the strong correction today and also made closing below the level of 5150. Now the nifty might has reversed its medium term trend and could continue the selling pressure for while. In the previous report as we had already mentioend that traders could go for short in nifty future below 5200 for the target of 5100 to 5105; it is looking to touch in upcoming trading sessions. In the downside we could see the good support zone at 5100 to 5105, closing below this support zone may drop the nifty future till the lower levels of 5020 to 5025 in near term. We recommend that traders could hold the short with the sl of 5205 and those who like to initiate new shorts could do below the level of 5100 for the target of 5025.
 
for May 06, 2010

Nifty opened gap down and then in the end close above the support range of 5100 to 5105. Today nifty witnessed the smart recovery with the modest loss. Closing below 5100 may create more selling pressure in it. In the downside the key support seems to be at the level of 4950. We recommend that traders could go for sell on nifty future below 5100 for the tg of 5020 to 5025. Risky traders could hold the short nifty future position for the target of 4950.
 
Free Trading Tips and Nifty Trend

For Friday May 07, 2010

Nifty made the closing below the level of 5100 today and now could continue this selling pressure and could drag till the lower level of 4950 in near term. As we had already mentioned in our previous report that one could go for sell on nifty future below 5100 for target of 5025 to 5030 today it did.

Now, we recommend that traders could hold the short in nifty future for the target of 4950 and those who like to initiate new longs could do it below 5020.
 
For Next Week

Nifty witnessed the yet another downside session and in the end managed to close above 5000 level. In the downside two key levels are 4950 & 4820. We are expecting that once market could touch the 4800 level in this downside rally. We recommend that traders could hold the short position in nifty future for the target of 4900 & 4800. In the upside 5100 is looking the major resistance. Those who like to initiate new shorts could do below 4950 level for the target of 4850 with stop loss of 5005.
 
Nifty made the strong come back from the levels of 4975 to 5000 and today in the end made the closing above 5200 levels. Now we could expect some more upside moves in nifty future from the current levels. The next resistance it could face around the resistance zone of 5290 to 5300. Closing above may raise it till the higher levels of 5350 in short term. We recommend that traders should focus on longs in nifty future from the current levels for the target of 5300.
 
Nifty witnessed a correction from the higher level close to 5205 and made a close below 5150 level. Technically it is forming the bearish pattern in charts and may witness some more selling from the current levels. In the downside still 4950 is the key support for Nifty Future. Traders can adopt the sell on rise on nifty strategy in it for tomorrow but with the strict Stop Loss of 5200. In the downside they could get the level of 5025 to 5030 from the present levels.
 
Nifty witnessed the highly volatile session today and made the closing above 5100 level. In the upcoming trading sessions we can expect the range bound movement. In the downside the 4950 to 4975 is the crucial support zone for it. Closing below this support zone may drag it till the lower levels of 4700 to 4705 in near term. For tomorrow, traders can initiate long positions in Nifty Future for the Targets of 5250 and 5300 from the current levels.
 
Nifty witnessed the correction from higher levels close to 5200 and made closing below 5100. As we had mentioned in our previous report that one could go for sell on rise in nifty future for the target of 5075 to 5080 today it did. Now as per the candlestick charts study it is looking that market may more correct from the current levels. In the downside the two crucial supports seems to be at the levels of 4950 & 4820. So, we recommend that traders could hold the shorts for some more time. Those traders who like to initiate new shorts could do below 4975 for the target of 4825 to 4830.
 
Nifty closed above 5000 level after a strong correction till 4962. We had already mentioned in our previous reports that 4950 is the crucial support for the nifty future. Closing below 4950 could slide it till the lower levels of 4830 to 4840 in near term. We recommend that traders should hold the short position in nifty future & those traders who like to initiate the new shorts could do it below the level of 4950 for the targets of 4840 to 4850 with the intraday Stop Loss at 5005.
 
Nifty witnessed a huge correction today and made the breakout of the downside support base of 4950 to 4960. Today in the end it also made closing below 4950 which means that this down trend could continue and we could expect more selling pressure in it. In the downside two crucial supports are 4830 & 4770. We had already recommended in our previous reports that one could go for short in nifty future for the target of 4830. Those traders who like to initiate new shorts could do it below 4900 for the targets of 4830 with the intraday Stop Loss of 4950.
 
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Nifty witnessed the some bounce from the support of 4900 and in the end closed with the modest gain. Technically still it is not sustaining at higher levels and we could expect more selling pressure in it. One could expect the lower levels of 4830 & 4760 in next few trading sessions. We recommend for intra day trading that trader could go for short in nifty future below 4900 for the taregets of 4840 to 4830 with the sl at 4935.
 
Nifty continue the down trend and made new low of 4851. Today it witnessed the high volatile session & in the end made the closing with modest loss. Nifty future is looking to continue it's down trend for some more time and in the downside 4830 & 4770 are two key supports. Closing below 4770 could drag it till the lower levels of 4650 to 4660 in near term. We recommend that trdaers should focus on sell on rise strategy in it for the targets of 4770 to 4780 from the current levels.
 
Nifty future witnessed the huge correction today and in the end managed to close above 4800 mark. As we had already recommended shorts in nifty future for the targets of 4900, 4830, today its done. Now nifty future is looking to continue this downward rally and we could see more downside in it from the current levels. In the downside two key supports are 4730 & 4660. We recommend that shorts in nifty future could be hold for the targets of 4700 and 4680. Those traders who like to initiate new shorts in nifty future could do it below the level of 4770 with the stop loss of 4805.
 
Nifty closed with the modest gain and in the end holding the level of 5000. The next crucial resistance zone seems to be around the levels of 5100 to 5110. Closing above this resistance zone may take up it till the higher levels of 5175 to 5180 in short term. We recommend that still nifty future is in the down trend so one could go for sell on rise in it until it made closing above 5110. In the downside we might expect the lower levels of 4900 to 4905.
 
for June 02, 2010

Nifty witnessed the huge correction today and made the closing below 4950. As we had already mentioned in our previous report that one could go for sell on rise in nifty future until it made closing above 5110. Now the nifty could witness more strong correction from the current levels. We recommend short position in nifty future for the targets of 4700. In the upside 5100 to 5110 is the resistance zone for nifty future in short term.
 
Nifty witnessed the overall the highly volatile market session & in the end made some recovery and manged to closed above 5000 mark. Technically still 5100 to 5110 is the short term resistance zone for nifty future. Closing above this resistance range may take up it till the higher levels of 5175 to 5180 in short term. One could hold the shorts position in nifty future until it made closing above 5100.
 
For June 05

Nifty witnessed the yet another positive session & contniue the upside recovery. Today it managed to break the resistance zone of 5100 to 5110 & also made the closing above it. Now this upside momentum could be continue and one could expect the higher levels of 5200 to 5205 in near term. We recommend long position in nifty future from the current levels for the target of 5200 with Stop Loss around 5060.
 
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