NIFTY VIEWS ON 06.10.2009

NIFTY FUTURE SHOULD TRADE AND SUSTAIN ABOVE 5050 FOR FURTHER UP MOVE

NIFTY FUTURE IS STRONG OVER 5040 AND WEAK BELOW 4990
LAST CLOSE NIFTY FUT 5008.50 NIFTY SPOT 5003.20
TREND - VOLATILE - BULLISH

TREND DECIDER FOR TODAY <<<5000>>> ..... <<<5030 >>>

BUY ABOVE 5021.65 SL 5005.25
TGT 5032.95 - 5042.75 - 5555.85 - 5066.05 - 5078.85

IF NIFTY FUTURE CLEARS 5040-5050 AND STAYS ABOVE THIS LEVEL WITH VOLUME, BULL MOVE REMAINS INTACT. IF TRADES ABOVE 5050 WILL TGT 5070- - 81 - 95. NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUSTAINS ABOVE 5040-50, DUE TO SHORT COVERING AND FRESH BUYING.

SELL/SHORT BELOW 5004.55 SL 5021.25
TGT 4990.25 - 4978.250 - 4966.20 - 4955.65

IF SUSTAINS BELOW 4950 FOR 5-10 MINS TRADE FOR TGT 4940-4928-4913
GOOD BUYING SUPPORT IN COMING DAYS IS 4760 - 4800 - 4840

POSITIONAL NIFTY BUY ABV 4950 SL 5030 AND REVERSE. SUGGESTED TO BUY FEW DAYS BACK.ABV 4950 GAIN AS ON TODAY LONG SIDE 80 POINTS AND SHORT SIDE 21.50 POINTS

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 4990-80 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 UP . MARKET DATA SHOW MARGINAL DECREASE IN OPEN INTEREST AND INCREASE IN VOLUME BY 2.76% AND THAT INDICATES WINDING UP OF LONG POSITIONS AND FORMATION OF SHORTS AT HIGHER LEVELS. .

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 LOVERS

BUY AT/ABV 4990-5000 SL 4980 FOR TGTS AS MENTIONED ABOVE
SHORT AT/BELOW 5075 - 60 SL 5100 FOR TGTS MENTIONED ABOVE

NORMAL TRADERS/SAFE PLAYERS MAY NOT ATTEMPT THIS AS THERE IS EVERY POSSIBILITY OF HITTING STOPS IN THESE TRADES UNLESS OTHERWISE SUGGESTED IN YAHOO MESSENGER.

PLEASE WATCH UPDATES IN YAHOO MESSENGER(ONLY FOR FRIENDS IN BLOG)
BEST OF LUCK AND HAPPY TRADING

DEEPA ACHARYA