Tuesday, October 23, 2012

Nifty outlook and trading levels for 23 Oct 12

yesterday nifty remained in range of 5660-5720...
will it break it today ?
In case of break out  it may move to 5820 ...
Support is lying  at 5640 5650 -bottom line of horizontal channel
huge addition in 5800 ce is proving that 5800 will act at firm resistance( highest ce build up ) ...where as 5600 and 5700 puts added yesterday and 5600 ( highest pe build up )emerged as very strong support ..
5700 strike is still in dilemma...

Securities which are in ban period
IVRCL infra
Nifty closed above falling trend line but below neck line at eod chart .trading in 5640- 5720 range since last 1 month and we are expecting range break at any moment .6000 or 5400 both are possible within 10 days be cautious and trade accordingly.chances 20/80%.

Flat to slightly negative opening is expected with extremely volatile session ahead ...
Profit booking at higher levels can not be ruled out. 
As tomorrow will be Dussera holiday and no one will like to left money on table.So enjoy booking profits at higher levels or sell on rise and book at lows for intra trades in selected scrips.
Possible range for Nifty   as per oi data and other indicators may be 5660-5750..
Trade in Nifty futures as per these levels 
Buy at / above: 5736   Targets: 5751 - 5773 - 5792 - 5811
Stoploss : 5714
Sell at / below: 5714  Targets: 5703 - 5684 - 5665 - 5646
Stoploss : 5736

Trade according to trend . levels and  stoploss order .
Dhanavarsha members are holding ....
kailash123p@yahoo.co.in (10/22/2012 2:53:40 PM): nifty stbt at 5722
kailash123p@yahoo.co.in (10/22/2012 2:53:51 PM): and pe btst at 20 
kailash123p@yahoo.co.in (10/22/2012 3:21:14 PM): nifty stbt 5726 now 

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