NIFTY VIEWS ON 03.03.2010

NIFTY FUTURE SHOULD TRADE AND SUSTAIN ABOVE 5050 FOR FURTHER UP MOVE

NIFTY FUTURE IS STRONG OVER 5030 AND WEAK BELOW 5009

LAST CLOSE NIFTY FUT 5022.80 NIFTY SPOT 5017.00

TREND - VOLATILE - RANGE BOUND WITH POSITIVE BIAS

TREND DECIDER FOR TODAY <<< 5000 >>> ..... <<< 5035  >>>

BUY ABOVE 5032.25 SL 5012.15
TGT 5041.95 > << 5052.25 - 5061.35 >> < 5071.55 >  << 5084.45 - 5095.75 >> 5107.35 > 5120.25 >>

IF NIFTY FUTURE CLEARS 5040-5050 AND STAYS ABOVE THIS LEVEL WITH VOLUME, BULL MOVE REMAINS INTACT. NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUSTAINS ABOVE 5050 -75, DUE TO SHORT COVERING AND FRESH BUYING AND SHOULD TARGET 5095-5120

SELL/SHORT BELOW 5007.05 SL 5028.15
TGT 4997.35 - 4987.15 >  << 4976.25 - 4966.20 >>  < 4954.65 >> 

GOOD BUYING SUPPORTS ARE 4978 - 4955 IF BREAKS AND SUSTAINS BELOW 4950 FOR 5-10 MINS TRADE FOR TGT 4940-4929-4910

 FOR AGGRESSIVE TRADERS AND RISK LOVERS

BUY AT/ABV 4975-4985 SL 4960 FOR TGTS AS MENTIONED ABOVE

SHORT AT OPEN/BELOW 5060 - 75 SL 5090 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 4975 -85 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 NIFTY FUTURE GAINS OPEN INTEREST BY 1.30% WITH DECREASE  IN VOLUME BY 52.% AND THAT INDICATE  FORMATION SHORT POSITIONS AT HIGHER LEVELS. EXPECT VOLATILITY AND SELLING PRESSURE AT EVERY RISE TILL 5060-5080 LEVEL IS SUSTAINED. GOOD BOUNCE BACK POSSIBLE 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.

DEEPA ACHARYA