Friday, October 12, 2012

Nifty outlook and trading levels for 12 Oct 12

Flat to negative opening is expected with volatility ahead .It is Friday today so profit booking at higher levels can not be ruled out .  infy result will be announced before opening of market then IIP data ...these  reports will increase volatility ...
Nifty eod chart is showing that nifty is still far from bottom trend line of up trending channel ...but moved  and closed in green yesterday due to short covering ...
Trade in nifty futures as per these levels
Buy at / above: 5757   Targets: 5773 - 5792 - 5811 - 5830
Stoploss : 5738
Sell at / below: 5738   Targets: 5722 - 5703 - 5684 - 5665
Stoploss : 5757

Trade with stop loss
Trade according to trend...
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