NIFTY VIEWS FOR 22.07.2009

NIFTY FUTURE IS STRONG OVER 4500 & WEAK BELOW 4435
LAST CLOSE 4473.35

FOR TODAY WATCH         <<<4465 - 4475>>>

BUY ABOVE 4475.25 SL 4459.25

TGT 4486.65 - 4498.25 - 4509.45 - 4520.15 - 4537.35 - 4549.55

IF TRADES ABOVE 4550 FOR 10-15 MINS HOLD LONGS FOR 4568 - 4579 - 4598 - 4610 BE CAUTIOUS AT HIGHER LEVELS. IF NIFTY FUTURE CLEARS 4600-4625 WITH VOLUME BULL MOVE REMAINS INTACT. WATCH THIS POINT. ABOVE 4650 POSITIONAL TGT 4800

SELL BELOW 4455.25 SL 4469.25
TGT 4444.25 - 4435.25 - 4419.55 - 4405.65 

IF TRADES BELOW 4400 FOR 10 -15 MINS SELL FOR TGT 4380 - 4369.85 - 4351.85 BELOW 4340 - 45  POSITIONAL TGT  4200 

WATCH THE LEVELS IN BLUE COLOUR ABOVE. THESE LEVELS MAY GIVE GUIDANCE ABOUT MARKET DIRECTION. DO NOT ALWAYS WAIT FOR THE TARGET. BOOK PROFITS AT YOUR COMFORT LEVELS.

BOUNCE BACK EXPECTED FROM 4400 LEVELS IF REACHED . 

IF MARKET OPENS ABOVE / BELOW THE RECOMMENDED LEVELS WATCH THE TREND FOR 10-15 MINUTES AND TAKE POSITION ACCORDINGLY WITH STOPLOSS AT NEXT SUPPORT / RESISTANCE. KEEP AN AYE ON UPDATES

CONSIDERING CURRENT SCENARIO EXPECT MARKET TO OPEN FLAT TO GAP UP. STAY LONG ON DECISIVE CROSSOVER OF 4525  NIFTY FUTURE SHOULD TRADE ABOVE 4525 FOR MINIMUM 15-20 MINS FOR FURTHER UPMOVE. AS UNWINDING OF LONGS ARE SEEN AT HIGHER LEVELS TODAY STAY CAUTIOUS. SHARP UPMOVE  EXPECTED ABOVE 4525 ONLY

LEVELS MENTIONED ABOVE ARE FOR NIFTY FUTURE. USE STOPLOSS AS MENTIONED. HOLDING POSITION AFTER STOPLOSS LEVELS IS HIGHLY DETRIMENTAL. IF STOP HITS, WATCH THE TREND AND TRADE ACCORDINGLY WITH SL 20-25 PTS.

PLEASE WATCH UPDATES IN COMMENTS SECTION. BEST OF LUCK AND HAPPY TRADING. 

DEEPA ACHARYA

N.B. THOSE WHO TRADE ONLINE MAY NOT PUNCH STOPLOSS BUT SHOULD QUIT BOLDLY IF SL LEVEL  IS  REACHED AFTER  WAITING FOR 5 MINS.