Nifty Outlook & Trading levels for 24 July 13

Negative to gap down opening with possibility of more pressure on market due to negative impact on bank nifty by RBI action . SGX nifty is trading well below 45 points   see here  http://dhanvarshagroup.blogspot.in/.

Trade in Nifty Futures as per these levels

Buy at / above: 6064   Targets: 6080 – 6100 – 6120 – 6139
Stoploss : 6045
Sell at / below: 6045   Targets: 6028 – 6009 – 5989 – 5970
Stoploss : 6064

Dhanvarsha is holding  short Nifty as per Chat room instructions

24 Jul 13, 07:10 AM

[×] [o] Admin: sgx nifty now at 6069 you are holding SHORT between 6125 – 6140 so 50 or more Nifty points opening Dhanvarsha Gift

×] [o] Admin: Interest rates are likely to inch up and growth prospects may worsen with the Reserve Bank of India introducing more measures to make money scarce in its bid to prop up the rupee

24 Jul 13, 08:21 AM

[×] [o] Admin: “The follow up measures taken today clearly indicate that there is a firm resolve to tackle any speculative activity in the forex market. It also shows that RBI is willing to sacrifice everything including growth to manage the currency. These measures will put upward pressure on deposit rates and also push up bond yields” said Ashish Vaidya, head of fixed income currency and commodities as UBS.

24 Jul 13, 08:22 AM

[×] [o] Admin: http://timesofindia.indiatimes.com/business/india-business/Rates-may-rise-as-RBI-squeezes-money-flow/articleshow/21293336.cms

 

Nifty Outlook & Trading levels for 24 July 13