Tuesday, September 17, 2013

Nifty views 17 Sept 13

Negative opening is expected with negative bias, advising to sale on rise and book profit at lows seeing  eod chart views .Banking sector will be in pressure due to diminishing of rate cut hope .

Trade in Nifty Futures as per these levels as per Dhanvarsha views .
Buy at / above: 5892 Targets: – 5909 – 5934 – 5948- 5976
Stoploss : 5865
Sell at / below: 5865 Targets: 5839 – 5814 – 5793 – 5774- 5752
Stoploss : 5892

Inflation levels and forex market conditions are likely to be the main factors that would determine the stance of the central bank in its mid-quarterly monetary policy review later this week.


“The Reserve Bank of India will take into account the behaviour of inflation as well as what is happening in the foreign exchange market and take a decision,” said C Rangarajan, chairman of the Prime Minister’s Economic Advisory Council on Monday.

The RBI’s recently appointed Governor Raghuram Rajan is scheduled to announce the mid-quarter review of the monetary policy for 2013-14 on September 20, just a few days after the meeting of the US Federal Reserve’s Open Market Committee.

Read more at http://www.indianexpress.com/news/rbi-policy-to-hinge-on-rupee-inflation-rangarajan/1170077/

All but 1 indicators are supporting bears so go with indicators sell on rise for target 5725 50 positional trade

First spot the trend then initiate trade according to it . Know your self, your trader then plan your trades accordingly. scalper won’t trade as per positional trader and long term trader won’t enjoy in short term trades .

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Nifty views 17 Sept 13

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