Monday, April 8, 2013

NIFTY OUTLOOK AND TRADING LEVELS FOR 08 APRIL 13

Negative opening is expected with extremely volatile session ahead.  below 5543 spot …technically no one is going to support bulls. 5537 – 5543 are 2 technical levels …if broken  http://dhanvarsha.in/macro-analysis-of-5-years-weekly-nifty-chart/ next iimediate  fib  support for nifty is lying at 5435 .


but reversal possibility is still there as bank nifty is trading at double bottom level  in extremely oversold zone and closed making hammer candle at eod chart  if any have buying will take place and nifty spot moved above 5550 then  a smart pull back can not be ruled out.


Advised to buy bank nifty above 11050 stop loss 10980  target 11150  11290  11350  11500.


If 11000  will break then bank nifty may sustain at 10500  so do not stay in trade without stop loss . Trade with strict discipline and without emotions . Go long only when bank nifty starts its move towards upward direction. Do not try to catch falling knife


BANKNIFTY_Daily_07-04-2013


Trade in Nifty futures as per these levels


Buy at / above: 5552   Targets: 5568 – 5586 – 5604 – 5622
Stoploss : 5530
Sell at / below: 5530   Targets: 5515 – 5497 – 5478 – 5460
Stoploss : 5552



NIFTY OUTLOOK AND TRADING LEVELS FOR 08 APRIL 13

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