Friday, April 12, 2013

NIFTY OUTLOOK AND TRADING LEVELS FOR 12 APRIL 13

Almost  flat opening is expected for nifty with extremely volatile session ahead , there are three major events today – Infy result , IIP data  and Inflation data and all are having capability to move Nifty 20 to 30 points either way in minutes so be cautious and trade with strict stop loss order .


Nifty moved as per prediction but all 3 pre market buy calls  moved towards stoploss after gap up opening … but  support during market was fruitful.


It was expected that nifty may close above 5600 and it has closed almost there at 5594 .Nifty is moving up on addition of OI(added 1590000 shares in OI in last 2 sessions ) so we can say that the  trend is not weak and OI addition is supporting Bulls .


as per technical indicators nifty may kiss 5700 today,  hurdle is 5643  if  that will be broken then  we can see nonstop Nifty to 5700 and above ….only negative news may hold bulls power but closing below 5550 is not on cards .


2013Apr-CNX Nifty-800x600


You can see two upside hurdles here at 5700 and 5743 .. http://dhanvarsha.in/macro-analysis-of-5-years-weekly-nifty-chart/


Trade in Nifty Futures as per these levels .


Buy at / above: 5587   Targets: 5603 – 5622 – 5640 – 5659
Stoploss : 5568
Sell at / below: 5568   Targets: 5553 – 5534 – 5515 – 5497
Stoploss : 5587


tata steel is available at rock bottom price at 298  297  traded making double bottom and selling climax was noticed once again ..accumulation of tatasteel is recommended at this level for investment purpose for  20 to 40 % possible return within 6 months …try to analyse your self .


2013Apr-TATA STEEL LIMITED-800x600


buy on dips for Investment purpose 


for Intraday trade  buy tata steel at and above 301   sl 298    tgt 304  307  312  318  do not stay long  if trades below sl level…


buy IBREALEST at 55  sl 52.85  tgt 56  57  59



Macro spot nifty  levels 


<5550 ><5600><5650 ><5700><5750 >


 



NIFTY OUTLOOK AND TRADING LEVELS FOR 12 APRIL 13

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