NIFTY VIEWS ON 28.01.2010

NIFTY FUTURE IS STRONG ABOVE 4850 & WEAK BELOW 4815

LAST CLOSE NIFTY FUT 4848.15 NIFTY SPOT 4853.10

TREND - VOLATILE

TREND DECIDER FOR TODAY <<< 4800 >>> ..... <<< 4850 >>>

BUY ABOVE 4856.45 SL 4826.25

TGT  4866.65 > << 4875.25 - 4886.60 >> < 4895.35 - 4905.85 >  << 4915.40 >> << 4925.45 - 4944.55 >>

IF NIFTY FUTURE CLEARS 4860 AND STAYS ABOVE THIS LEVEL WITH VOLUME, BULL MOVE REMAINS INTACT AND SHOULD TARGET 4900 - 4925 - 4944. NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUSTAINS ABOVE 4870-85, DUE TO SHORT COVERING AND FRESH BUYING

SELL/SHORT BELOW 4825.55 SL 4846.55

TGT 4815.35 > < 4806.55 - 4786.55 > << 4768.55 - 4751.55 >> 

IF SUSTAINS BELOW 4750 FOR 5-10 MINS TRADE FOR TGT  4744 - 4735 - 4725 - 4705

GOOD BUYING SUPPORT  ARE  4760 - 4744

ONLY FOR AGGRESSIVE TRADERS AND RISK LOVERS

BUY AT/ABV 4775-4800 SL 4750 FOR TGTS AS MENTIONED ABOVE

SHORT AT/BLW 4885-4905 SL 4915 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.

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 4780-95 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-A- VERSA

CONSIDERING CURRENT SCENARIO EXPECT MARKET TO OPEN FLAT TO MILD GAP DOWN. NIFTY FUT SHOWS INCREASE IN OPEN INTEREST WITH  INCREASE IN VOLUME AND THAT INDICATES FORMATION OF SHORT POSITIONS.  SUDDEN PROFIT BOOKING AT HIGHER LEVELS MAY NOT BE RULED OUT. BE ON GUARD ABV 4860-75 LEVELS. MAY EXPECT VOLATILITY DUE TO EXPIRY.

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.

PLEASE WATCH UPDATES IN YAHOO MESSENGER( 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