Friday, February 1, 2013

Nifty outlook and trading levels for 01 Feb 13

It is FrY day

we are expecting  for some profit booking but auto and cement sector may or may not support bears ...
Flat to negative opening is expected...with volatility ahead ..Nifty closed below 6040 , 6040 is pulling down nifty again and again , today we may see 5970 if bears will dominate in same way ...
This eod chart is showing that upward momentum is not there ..
see last 3 candles
shooting star red  ...
then hanging man red
then spindle shape red candle ...
do we need more confirmation for retracement ????
It is 01st Feb   Gann pressure date ...Be cautious .....

Trade in Nifty futures as per these levels
Buy at / above: 6084   Targets: 6100 - 6120 - 6139 - 6159
Stoploss : 6064
Sell at / below: 6064   Targets: 6048 - 6028 - 6009 - 5989
Stoploss : 6084

Trade with discipline and stoploss

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