NIFTY VIEWS ON 26.10.2009

NIFTY FUTURE SHOULD TRADE AND SUSTAIN ABOVE 5040 FOR FURTHER UP MOVE

NIFTY FUTURE IS STRONG OVER 5030 AND WEAK BELOW 5000

LAST CLOSE NIFTY FUT 5007.90 NIFTY SPOT 5003.20

TREND - VOLATILE

TREND DECIDER FOR TODAY <<<4995>>> ..... <<<5025 >>>

BUY ABOVE 5020.65 SL 5005.25
TGT 5032.95 > - << 5042.75 - 5055.85 >> - < 5066.05 > 5078.85 <

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

SELL/SHORT BELOW 4997.55 SL 5020.25
TGT 4988.25 > - << 4978.25 - 4966.20 >> - < 4954.65 >>

IF SUSTAINS BELOW 4950 FOR 5-10 MINS TRADE FOR TGT 4940-4929-4919
GOOD BUYING SUPPORT AREA IN COMING DAYS IS 4800 - 4840

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 DOWN. . MARKET DATA SHOW DECREASE IN OPEN INTEREST IN CURRENT SERIES BY 8.5% AND INCREASE IN NEXT SERIES BY 50.13%  AND INCREASE IN VOLUME IN BOTH SERIES  AND THAT INDICATE  FORMATION UP OF LONG POSITIONS IN NEXT SERIES.  GOOD BOUNCE BACK POSSIBLE FROM LOWER 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 4960-4970 SL 4950 FOR TGTS AS MENTIONED ABOVE - RISK RS 10-20

SHORT AT/BELOW 5060 - 75 SL 5085 FOR TGTS MENTIONED ABOVE - RISK RS 10-15

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(FOR FRIENDS IN BLOG)

BEST OF LUCK AND HAPPY TRADING

FRIENDS MAY VISIT http://blueeye.11.forumer.com/index.php FOR MORE CALLS AND VIEWS.

DEEPA ACHARYA