Monday, September 30, 2013

Gap down opening on last day of month

Gap down opening of 40 to 60 Nifty points or 0.8  % is expected with possibility of choppy session and gap filling at later stage .Last week closed at negative note  post positive move of three weeks . expected weekly range 5700 – 6000.


Daily chart is indicating consolidating at and above 200 dma few more days stay at 5800 level can’t be ruled out .Nifty is playing at traders action zone .looking up ;


Trade in Nifty futures as per these levels 

Buy at / above: 5838   Targets: 5854 – 5874 – 5893 – 5912
Stoploss : 5814
Sell at / below: 5814   Targets: 5797 – 5778 – 5759 – 5740
Stoploss : 5833

 Bears may dominate only if  nifty will trade below 5800 for 2 to 3 sessions .

Gap down opening on last day of month

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