Positive to gap up opening is expected with possibility of extremely volatile session ahead .6200 at spot is stiff resistance if 6200 will be broken and nifty start trading above it …6200 will start acting as support level and you may go for long keeping stoploss at 6178 …but if failed to retain 6200 then best trade will be go short on futures at 6189 6210 keeping stoploss of 6122 for lower targets .
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Trade in Nifty futures as per these levels
Buy at / above: 6221 Targets: 6237 – 6257 – 6277 – 6297
Stoploss : 6201
Sell at / below: 6201 Targets: 6184 – 6165 – 6145 – 6126
Stoploss : 6221
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if no new high then double top as per 15 min chart and target may be 6160 and below watch at sgx 30 min chart at
trend line and pivots showing supports and resistances at hourly chart
Do not jump in river if you do not know swimming …
NIFTY OUTLOOK AND TRADING LEVELS FOR 20 MAY 2013