Monday, October 22, 2012

Nifty outlook and trading levels for 22 Oct 12

Bears are tightening their grip slowly ...
Option oi table is showing that huge writing in 5700 and 5800 calls and short covering in all strike of puts is clearly indicating that bulls are disheartened and  had lost their grip from market  on Friday ...

decrease of oi in 5600 puts ...

Gap down opening of approx  30 points or more  is expected with extremely volatile session ahead ..
Trade in Nifty futures as per these levels
Buy at / above: 5666   Targets: 5687 - 5707 - 5721 - 5737
Stoploss : 5646
Sell at / below: 5646   Targets: 5629 - 5607 - 5593 - 5571-5552
Stoploss : 

Trade according to levels and stop loss .
Sell on rise and book profit at lows .

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