THE SUPREME POWER

THE SUPREME POWER

Monday, August 17, 2009

NIFTY VIEWS ON 17.08.2009

NIFTY FUTURE IS STRONG OVER 4580 & WEAK BELOW 4560
LAST CLOSE 4611.10

TREND DECIDER FOR TODAY <<<4575>>>.....<<<5485>>>

BUY ABOVE 4581.45 SL 4558.90
TGT 4595.45 - 4609.25 - 4622.25 - 4641.45 - 4659.60 - 4674.75 - 4698.55

IF TRADES ABOVE 4625-35 FOR 5-10 MINS HOLD LONGS FOR 4650 - 4675
IF NIFTY FUTURE CLEARS 4675 WITH VOLUME BULL MOVE REMAINS INTACT. WATCH THIS POINT. IF TRADES ABOVE 4675 POSITIONAL TGT 4800-4875

SELL BELOW 4570.55 SL 4585.25
TGT4552.85 - 4541.25 - 4530.55 - 4521.25 - 4505.95

IF SUSTAINS BELOW 4505/4500 FOR 10-15 MINS TRADE FOR TGT 4480 - 4465 - 4455 - 4444

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 4540-4522 IF REACHED .

IF MARKET OPENS ABOVE / BELOW THE RECOMMENDED LEVELS WATCH THE TREND FOR 10-15 MINUTES AND TAKE POSITION ACCORDINGLY WITH STOP LOSS AT NEXT SUPPORT / RESISTANCE. KEEP AN EYE ON UPDATES IN COMMENTS SECTION/YAHOO MESSENGER. NEVER BUY IN A FALLING TREND AND VICE VERSA

CONSIDERING CURRENT SCENARIO EXPECT MARKET TO OPEN FLAT TO GAP DOWN. STAY LONG ON DECISIVE CROSSOVER OF 4585. NIFTY FUTURE SHOULD TRADE ABOVE 4585 FOR MINIMUM 10-15 MINS FOR FURTHER UP MOVE. UP MOVE IS EXPECTED ONLY ON CROSSOVER OF AND SUSTAIN ABV 4525-50 WITH VOLUME. AS UNWINDING OF LONGS ARE SEEN AT HIGHER LEVELS STAY CAUTIOUS ABOVE 4625-50 AS FRESH SHORTS MAY BE INITIATED HERE.

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

ONLY FOR AGGRESSIVE TRADERS AND RISK LOVER
S
BUY AT/ABV 4520-40 SL 4500 FOR TGTS AS MENTIONED ABOVE
SELL AT/BLW 4625-50 SL 4675 FOR TGTS MENTIONED ABOVE
NORMAL TRADERS/SAFE PLAYERS MAY NOT ATTEMPT THIS AS THERE IS EVERY POSSIBILITY OF HITTING STOPS IN THESE TRADES

PLEASE WATCH
UPDATES IN YAHOO MESSENGER(ONLY FOR FRIENDS)

BEST OF LUCK AND HAPPY TRADING.
DEEPA ACHARYA

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