Wednesday, September 12, 2012

Nifty outlook and trading levels for 12 Sept 12

Positive to gap up opening of 20 to 30 points is expected with volatility ahead. Nifty got support at 20 DMA  yesterday and bounced from there .
above 5397 net resistance is 5452 on breaching of it 5500 will be there .5363 will act as very strong support for today's trades  .In macro view visibility of rising wedge is not a healthy sign for bulls .
 If observed range trading at 5420  5430 spot  level, then profit booking  can not be ruled out..
Trade in nifty futures as per these levels
Buy at / above: 5439   Targets: 5454 - 5473 - 5491 - 5510
Stoploss : 5420
Sell at / below: 5420 Targets: 5404 - 5386 - 5368- 5349
Stoploss : 5439

Piddu singh 

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