NIFTY VIEWS ON 29.01.2010

NIFTY FUTURE IS STRONG ABOVE 4900 & WEAK BELOW 4860

LAST CLOSE NIFTY FUT 4872.05 NIFTY SPOT 4867.25

TREND - VOLATILE

TREND DECIDER FOR TODAY <<< 4850 >>> ..... <<< 4915 >>>

BUY ABOVE 4880.55 SL 4862.00

TGT  4891.40 > << 4904.35 - 4914.85 >> < 4924.50 - 4934.95 >  << 4944.55 - 4955.25 >>

IF NIFTY FUTURE CLEARS 4900 AND STAYS ABOVE THIS LEVEL WITH VOLUME, BULL MOVE REMAINS INTACT AND SHOULD TARGET 4925 - 4944-4955 NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUSTAINS ABOVE 4900-4925, DUE TO SHORT COVERING AND FRESH BUYING

SELL/SHORT BELOW 4861.55 SL 4878.55

TGT 4849.85 > < 4835.35 - 4825.55 > << 4815.10 - 4804.30 >> 

IF SUSTAINS BELOW 4800 FOR 5-10 MINS TRADE FOR TGT  4788 -4760 - 4744 - 4735 - 4725 - 4705

GOOD BUYING SUPPORTS  ARE  4760 - 4744

ONLY FOR AGGRESSIVE TRADERS AND RISK LOVERS

BUY AT/ABV 4835-4825 SL 4800 FOR TGTS AS MENTIONED ABOVE

SHORT AT OPEN/AROUND/BLW 4885-4905 SL 4925 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.THESE CALLS MAY BE TRIED AFTER BOOKING PROFITS IN LONG/SHORT TRADES OR GAP DOWN/UP OPENS

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 UP. NIFTY FUT GAINS OPEN INTEREST BY 22.04% WITH  INCREASE IN VOLUME BY 18.00% AND THAT INDICATES FORMATION OF LONG POSITIONS.  SUDDEN PROFIT BOOKING AT HIGHER LEVELS MAY NOT BE RULED OUT. BE ON GUARD ABV 4985-95 LEVELS. EXPECT VOLATILITY. TILL NIFTY FUTURES TRADES ABOVE 4940+

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