Bounce from 50 DMA boosted nifty above 200 points

bounce from 50 DMA boosted nifty above 200 points  …almost 50 % retracement will be seen .If sustained above 6150 for 2 hours or more panic short covering will be seen in market and NF  will trade above 6200 …

Daily nifty chart is showing support levels

sgx nifty daily cart is showing that NF is trading between 38.2  and 50 % retracement levels . above 6185 nify may move towards 6240   50  below that  652   6080  5970 .

Huge gap up opening is expected after holiday . Market if sustained at or above 6150  60  for more than 2 hours panic short covering may be there and closing above 6180  6200  can not be ruled out but if failed to retain at or above 6140  nifty may crack to 6050  so stay cautious . Market may  trade with wide range depending on traders sentiments . For real time calls and updates stay at dhanvarsha chat room  http://dhanvarsha.in/chatroom/

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

Trade according to levels … consider  all levels as  buy above and sell below  depending on price action .if NF  fail to cross 6198 and you will find  profit booking signals or weak-ness  you may sell NF at or below 6198 keeping stoploss at 6218 for  targets 6181 >>>6162  >>6145  and so on same  when trade at lower levels   suppose trading at 6106 and  buying seen you may go long at 6106 keeping stoploss at 6087  for targets 6126  6145  6162 …so at any level  seeing buying or selling you may plan your long /short trade for intraday trading .

http://wallstcheatsheet.com/stocks/yellen-to-senate-more-jobs-more-banking-oversight-at-fed.html/?ref=YF

Wall Street approved of Yellen’s performance by boosting every market following her appearance on Capitol Hill. Notably, Yellen said little to suggest the Fed would cease bond buying — known as quantitative easing — until signs of recovery were undeniable.

 

Bounce from 50 DMA boosted nifty above 200 points