NIFTY VIEWS ON 06.10.2010

NIFTY FUTURE HAS TO TRADE  ABOVE 5300 FOR MOVING FORWARD

NIFTY FUTURE IS STRONG OVER 5285 & WEAK BELOW 5265

LAST CLOSE NIFTY FUT 5281.20 NIFTY SPOT 5277.90

TREND - VOLATILE - BULLISH

TREND DECIDER FOR TODAY <<< 5210 >>> ..... <<< 5250 >>>

BUY ABOVE 5287.55 SL 5068.55
TGT 5297.60 &gt;  << 5308.90 - 5320.40 >> 5332.45 > 5343.50 >> AND IF SUSTAINS ABOVE 5350 TARGET WILL BE 5370 - 5395

IF NIFTY FUTURE CLEARS 5295 AND STAYS ABOVE THIS LEVEL FOR 10-15 MINS, BULL MOVE REMAINS INTACT NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUSTAINS ABOVE 8288-98 DUE TO SHORT COVERING AND FRESH BUYING

SELL/SHORT BELOW 5265.00.SL 5284.65
TGT 5254.00 > << 5243.05 - 5232.85  >> < 5219.35  -  5209.90 > << 5198.45 - 5187.60 >> < 5177.35                                                 
IF SUSTAINS BELOW 5170 FOR 5-10 MINS TRADE FOR TGT 5151 - 5134 - 5115 - 5105 

ONLY FOR AGGRESSIVE TRADERS AND RISK LOVERS

BUY AT/ABOVE 5250 - 60 SL 5232 FOR TGTS AS MENTIONED ABOVE

SHORT/SELL AROUND/BELOW 5300-5310 SL 5325 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 PROFITS AT YOUR COMFORT LEVELS. BOUNCE BACK EXPECTED FROM 5200-5210 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-A-VERSA

MARKET DATA

CONSIDERING CURRENT SCENARIO EXPECT MARKET TO OPEN FLAT. NIFTY FUT GAINS OPEN INTEREST BY 4.56% WITH INCREASE IN VOLUME  BY 43%AND THAT INDICATES UNWINDING OF LONG POSITIONS AND FORMATION OF SHORTS TOO AT HIGHER LEVELS.  NIFTY FUTURE MAY TRADE VOLATILE AND REMAIN RANGE BOUND  WITH POSSIBILITY OF PROFIT BOOKING AT HIGHER 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