Wednesday, October 30, 2013

Nifty blasted up after RBI's credit policy

Nifty blasted up after RBI ‘s credit policy -Sudden up swing in a day on RBI news pull market up and in up trending channel. hurdle 6250  support 6000 as per fib retracement levels  ..one  more big news will be announced today, that is out come of  FOMC  meet be cautious …


NIFTY_Daily_29-10-2013


Bank nifty  moved up by 400 points  …it was on expected line as bank nifty was under performing and yesterday got fuel in the form of RBI policy ..It may move up by 200  points more then big hurdle at eod  200 dma will welcome it for 500 to 700 points  reversal  if it will not be able to cross if  it will move past 200 dma  then other 500 points up move  can not be ruled out …stay on chart  candles  and emas..Fib levels 10291  10888   11484  200  dama 11406  ltp 11242


Positive to gap up opening is expected with extremely volatile session ahead .


1304700  OI decrease   while up move ..addition for Nov   more than 50 lac nifty share at 6250  75 … If profit booking emerge at higher levels then panic sell off below 6250  60  can not be ruled out but it seems market players will try to hold it at 6280 6320  Nov future levels and will wait for big move only tomorrow …stay at chatroom dhanvarsha   for real time updates and calls  http://dhanvarsha.in/chatroom/


BANKNIFTY_Daily_29-10-2013


Trade in Nifty futures Nov as per these levels


Buy at / above: 6303   Targets: 6319 – 6336 – 6356 – 6376
Stoploss : 6280
Sell at / below: 6280   Targets: 6263 – 6244 – 6224 – 6204
Stoploss : 6300


How to trade on these levels ??


suppose  NF is trading at  6250 in that case  6244  will work as down side support ( target  for short sellers ) and 6263 will act as resistance .  if nifty will start its move from 6250 and fail to  breach down side support  1 can buy above  6244  for target 6263  6280 with stoploss below 6244 …so  trade according to levels in same fashion you may go short at 6355  if  nifty futures wont move above 6356   with sl above 6356   for targets  6336   6319  6303  and so on


 


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Nifty blasted up after RBI's credit policy

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