NIFTY VIEWS ON 23.03.2010

NIFTY FUTURE SHOULD TRADE AND SUSTAIN ABOVE 5235 FOR FURTHER UP MOVE
NIFTY FUTURE IS STRONG ABOVE  5235 & WEAK BELOW 5200

LAST CLOSE NIFTY FUT 5213.30 NIFTY SPOT 5105.20
TREND - VOLATILE - SIDEWAYS

TREND DECIDER FOR TODAY <<<5200 >>> ..... <<< 5245 >>>

ENTER TRADE ONLY IF LEVELS SUSTAIN ABOVE OR BELOW FOR MINIMUM 5 MINS

BUY ABV 5224.75 SL 5206.15
TGT << 5235..75 - 5245.55 >> < 5256.30 >  << 5268.45 >>  << 5279.85 - 5298.95.>>

NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUSTAINS ABOVE 5230-45 DUE TO SHORT COVERING AND FRESH BUYING. FAILURE TO TOUCH/SUSTAIN ABOVE THIS LEVEL WILL INVITE PROFIT BOOKING AND SHORT BUILD UP. CRUCIAL POINT TO WATCH FOR LONG TRADES

SELL/SHORT BELOW 5205.15  SL 5222.65
TGT 5195.85 - 5185.70 >  <<5176.15 - 5166.05 >> < 5154.25 - 5144.05 ><< 5134.10 - 5124.75 >> < 5115.30 -5104.30                                         

                                              
IF SUSTAINS BELOW 5100 FOR 5-10 MINS TRADE FOR TGT 5080 - 5065 - 5050

GOOD BUYING SUPPORTS IN COMING DAYS ARE 5020-5000-4965

FOR AGGRESSIVE TRADERS AND RISK LOVERS

BUY AT/ABV 5180 -5200 SL 5170 FOR TGTS AS MENTIONED ABOVE

SHORT AT/BLW 5245 - 55 SL 5275.00 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/CHAT ROOM.

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 5170-85  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 YAHOO MESSENGER. NEVER BUY IN A FALLING TREND AND VICE A VERSA

CONSIDERING CURRENT SCENARIO EXPECT MARKET TO OPEN FLAT. NIFTY FUT SHEDS OPEN INTEREST MARGINALLY WITH INCREASE IN VOLUME  AND THAT INDICATES UNWINDING OF LONG POSITIONS AT HIGHER LEVELS. AND FORMATIONS OF SHORTS TOO. NIFTY FUTURE MAY TRADE VOLATILE 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/CHAT ROOM (ONLY FOR FRIENDS)

BEST OF LUCK AND HAPPY TRADING.

FRIENDS MAY VISIT OUR FORUM http://blueeye.11.forumer.com/index.php FOR MORE CALLS AND VIEWS.

DEEPA ACHARYA