Nifty is trading between 50 and 20 DMA..below 20 DMA means in bear zone not able to understand why others are spotting bullishness in it till it is trading in lower bollinger area and 20 DMA is pointing to south east yesterday too market ended making doji which shows indecision as per chart bullish at and above 6135 so advising to sell on rise till it is trading below 20 DMA at eod chart 6028 will act as support if it will break next support will be 5915
The CNX Nifty on Thursday gained 34.75 points or 0.57% to close at 6091.85 points, while the S&P BSE Sensex rose 114.65 points or 0.56% to close at 20,534.91.
The markets closed the series with a monthly fall of 3% after witnessing a rise of nearly 14% in the earlier two months.
Analysts said foreign institutional investors (FIIs), who rolled over long positions on expiry of the September and October series, unwound their bets during this expiry. “The fall in FIIs’ positions can be linked to the likelihood of higher volatility in December because of the state election outcome,” Traders do not expect the Nifty to fall below 6,000, going by the position build-up in put contracts in the strike. The Nifty rose 0.6 per cent to close at 6,091.85 on Thursday. Nifty December futures rose 0.7 per cent to close at 6,160.
“There has been aggressive writing at Nifty 6,000 put. This shows this level is a strong support for the Nifty,” said Ashish Chaturmohta, head (derivatives), Fortune Equity Brokers. The Nifty’s put call ratio, a popular sentiment indicator (the number of put options divided by the number of call options), at 0.85, signals the index might be oversold,
Flattish opening which may sustain at opening level for 1 to 4 hours may take its direction at later stage traders are cautious so advising to book small gains if you will be getting opportunity …trade in nifty futures as per these levels
Trade in nifty futures as per these levels
Buy at / above: 6181 Targets: 6198 – 6218 – 6237 – 6257
Stoploss : 6162
Sell at / below: 6162 Targets: 6145 – 6126 – 6106 – 6087
Stoploss : 6181
Buy call on pe6150
email@example.com (11/28/2013 9:46:17 AM): buy nifty 6150 pe at 42 43 sl 37 tgt 47 51 55 100
later traded above 80
never trade on speculation never trade without Stoploss order ..
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First article url http://dhanvarshagrp.blogspot.in/2009/11/technical-indicators-always-help-you.html posted on 29 Nov 2009 .
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Nifty is trading between 50 and 20 DMA-TAZ