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 .
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 .
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
Infosys' disappointing results have an impact on the IT stocks. IT stocks have crashed 10.25 per cent. Tech stocks decline of 8 per cent.
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