Wednesday, January 16, 2013

Nifty outlook and trading levels for 16 Jan 13

23% jump in profit could not provide support  for 0.23% intra gain  only 0.22 % up closing
we  can not  always expect that scrip will move up after gap up open and best result too...JK was knowing it ..

JK (1/15/2013 9:17:36 AM): sir tcs put le lo 1300 wali 5 rah gayi kal 27 thi
JK (1/15/2013 9:17:44 AM): yeh wapas 25+
JK (1/15/2013 9:18:11 AM): 5 se 6.50
JK (1/15/2013 9:18:15 AM): dekho speed
possibility  of range trading or correction in it ...
Yesterday  sl triggered  in nifty sell call ...
later advised to hold stbt nifty (1/15/2013 3:21:18 PM): stbt nifty at 6080 6085 (1/15/2013 3:21:34 PM): btst pe6k at 30 31
book profits as per these guidelines (1/15/2013 3:10:14 PM): please remember nifty for 10 - 15 points (1/15/2013 3:12:07 PM): trade options for 2 to 5 points in choppy markets

Negative to gap down opening is expected ..we may see volatility but traders are initiating short positions at each swing high and that is the reason of market up blast yesterday no fresh buying was there at higher levels but nifty was moving up due to short covering ...436450 shares were covered short yesterday... so  who got benefit ???
those who moved quickly up from 6035 to 6060 within minutes  ..and later booked while small traders were booking short positions at and above 6085 ...

any way we are holding short positions at  6085 and above levels .
trade in nifty futures as per these levels
Buy at / above: 6084   Targets: 6100 - 6120 - 6139 - 6159
Stoploss : 6069

Sell at / below: 6069 Targets: 6051 - 6028 - 6009 - 5989
Stoploss : 6084

when ever Nifty reached at top of channel always ended making trend reversal candle ...spotted spindle top yesterday wait for confirmation candle.

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