NIFTY VIEWS ON 22.12.2009

NIFTY FUTURE HAS TO TRADE ABOVE 5000 FOR MOVING FORWARD

NIFTY FUTURES STRONG OVER 4985 & WEAK BELOW 4935

LAST CLOSE NIFTY FUT 4948.55 NIFTY SPOT 4952.60

TREND - VOLATILE

TREND DECIDER FOR TODAY <<< 4940 >>> ..... <<< 4980 >>

BUY ABV 4954.50 SL 4935.35

TGT 4967.55 > << 4984.95 - 4995.55  >> < 5005.35 - 5021.35 > << 5032.45 >> 5046.40 >>5058.15

IF NIFTY FUTURE CLEARS 4985 - 95 AND STAYS ABOVE THIS LEVEL FOR 5-10 MINS, WOULD TARGET 5100 - 5118 - 5130 NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUTAINS ABOVE 5015-25 DUE TO SHORT COVERING AND FRESH BUYING

SELL/SHORT BELOW 4934.50 SL 4968.15

TGT TGT 4929.75 > 4918.15 << 4905.25 - 4895.35 >> < 4884.25 - 4872.65 - 4861.55 >

IF SUSTAINS BELOW 4850 FOR 5-10 MINS TRADE FOR TGT 4840-4820-4807. GOOD BUYING SUPPORT IN COMING DAYS IS 4840 - 4800 - 4760

ONLY FOR AGGRESSIVE TRADERS AND RISK LOVERS

BUY AT/4905-15SL 4880 FOR TGTS AS MENTIONED ABOVE

SHORT/SELL AROUND 4995-5010 SL 5025 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 4860 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 SHEDS OPEN INTEREST BY 2.46% WITH DECREASE IN VOLUME BY 18% AND THAT INDICATES SHORT COVERING. BOUNCE BACK EXPECTED FROM LOWER LEVELS.

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