NIFTY VIEWS ON 16.11.2009

NIFTY FUTURE HAS TO TRADE ABOVE 5035-5050 FOR MOVING FORWARD

NIFTY FUTURE IS STRONG OVER 5025 & WEAK BELOW 5000

LAST CLOSE NIFTY FUT 5003 NIFTY SPOT 4998.95

TREND - VOLATILE - BULLISH

TREND DECIDER FOR TODAY <<<4985 >>> ..... <<< 5030>>

BUY ABV 5016.25 SL 4994.10

TGT 5031.25 > << 5042.35 - 5052.55 >> < 5062.75 ><< 5075.10 >> 5086.15 >> 5098.15 >>

IF NIFTY FUTURE CLEARS 5075-90 AND STAYS ABOVE THIS LEVEL FOR 5-10 MINS, BULL MOVE REMAINS INTACT AND SHOULD TARGET 5100 - 5118 - 5130 - 5151. NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUTAINS ABOVE 5035 - 45 DUE TO SHORT COVERING AND FRESH BUYING

SELL/SHORT BELOW 4993.95 SL 5015.30

TGT 4982.35 > 4970.55<< 4959.65 - 4945.85 >> 4933.15 - 4923.65 >

IF SUSTAINS BELOW 4900 FOR 5-10 MINS TRADE FOR TGT 4888 -4873 - 4860
GOOD BUYING SUPPORT IN COMING DAYS IS 4840 - 4800 - 4760

ONLY FOR AGGRESSIVE TRADERS AND RISK LOVERS

BUY AT/ABOVE 4980-70 SL 4950 FOR TGTS AS MENTIONED ABOVE

SHORT/SELL AROUND/BELOW 5060-75 SL 5095 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.

FOR NEWER TRADERS

WATCH THE LEVELS IN BLUE COLOUR ABOVE. THESE LEVELS MAY GIVE GUIDANCE ABOUT MARKET DIRECTION. DO NOT ALWAYS WAIT FOR THE TARGET. BOOK PROITS AT YOUR COMFORT LEVELS. BOUNCE BACK EXPECTED FROM 4950-60 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 YAHOO MESSENGER NEVER BUY IN A FALLING TREND AND VICE VERSA

MARKET DATA

CONSIDERING CURRENT SCENARIO EXPECT MARKET TO OPEN FLAT TO GAP UP NIFTY FUT GAINS OPEN INTEREST BY 3.63% WITH DECREASE IN VOLUME BY 16% AND THAT INDICATES FRESH BUILD UP OF LONGS.

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

PLEASE WATCH UPDATES IN YAHOO MESSENGER(ONLY FOR FRIENDS)
BEST OF LUCK AND HAPPY TRADING.
FRIENDS MAY VISIT http://blueeye.11.forumer.com/index.php FOR MORE CALLS AND VIEWS OF EMINENT ANALYSTS.

DEEPA ACHARYA