NIFTY VIEWS ON 08.01.2010

NIFTY FUTURE HAS TO TRADE  ABOVE 5310 FOR MOVING FORWARD

NIFTY FUTURE IS STRONG OVER 5280 & WEAK BELOW 5260

LAST CLOSE NIFTY FUT 5266 NIFTY SPOT 5263.10

TREND - VOLATILE - BULLISH

TREND DECIDER FOR TODAY <<< 5270 >>> ..... <<< 5310 >>>

BUY ABOVE 5081.95 SL 5263.80
TGT 5292.05 >  << 5303.55 - 5313.40 >> 5324.25 >5335.20 >> AND IF SUSTAINS ABOVE 5340 TARGET WILL BE 5355 5380-5400

IF NIFTY FUTURE CLEARS 5310 AND STAYS ABOVE THIS LEVEL FOR 10-15 MINS, BULL MOVE REMAINS INTACT NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUSTAINS ABOVE 5310-5325 DUE TO SHORT COVERING AND FRESH BUYING

SELL/SHORT BELOW 5260.25  SL 5281.55
TGT 5250.10 > << 5240.15 - 5230.25  >> < 5220.10 -  5209.90 > << 5200.50 - 5192.35 >>                                               
IF SUSTAINS BELOW 5190.00 FOR 5-10 MINS TRADE FOR TGT 5180 - 5165 - 5154 - 5135

ONLY FOR AGGRESSIVE TRADERS AND RISK LOVERS

BUY AT/ABOVE 5235 -45 SL 5120 FOR TGTS AS MENTIONED ABOVE

SHORT/SELL AROUND/BELOW 5295 SL 5315 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 5225 -35 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 MAINTAINS FLAT OPEN INTEREST  WITH INCREASE IN VOLUME BY 10% AND THAT INDICATES FORMATION OF SHORT POSITIONS AT HIGHER LEVELS.  NIFTY FUTURE MAY TRADE VOLATILE AND 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