NIFTY VIEWS ON 29.03.2010

NIFTY FUTURE SHOULD TRADE AND SUSTAIN ABOVE 5310 FOR FURTHER UP MOVE
NIFTY FUTURE IS STRONG ABOVE  5310 & WEAK BELOW 5290

LAST CLOSE NIFTY FUT 5296.95 NIFTY SPOT 5282.00
TREND - VOLATILE - SIDEWAYS

TREND DECIDER FOR TODAY <<<5250 >>> ..... <<< 5280 >>>

ENTER TRADE ONLY IF LEVELS SUSTAIN ABOVE OR BELOW FOR MINIMUM 2-5 MINS

BUY ABV 5303.75 SL 5288.25
TGT << 5313.10 -5323.80 >> < 5334.25 >  << 5344.35 >>  << 5355.45 - 5368.15.>>

IF SUSTAINS ABOVE 5340  SHOULD TARGET 5355 - 5380 -5400

NIFTY FUTURE SHOULD MOVE FAST ONCE CROSSES AND SUSTAINS ABOVE 5315-25 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 5287.15  SL 5301.95
TGT 5276.90 - 5265.25  >  <<5252.55 - 5241.15  >> < 5225.05 - 5209.45 ><< 5200.05 - 5189.10 >> << 5170.75 >>                                

IF SUSTAINS BELOW 5170.00 FOR 5-10 MINS TRADE FOR TGT 5165 - 5154 - 5135

                                            

FOR AGGRESSIVE TRADERS AND RISK LOVERS

BUY AT/ABV 5265 -76 SL 5252 FOR TGTS AS MENTIONED ABOVE

SHORT AT/BLW 5320 -30 SL 5340.00 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 5255-60  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 GAINS OPEN INTEREST BY 7.50% WITH FLAT VOLUME  THAT INDICATES FORMATION OF LONG POSITIONS.   NIFTY FUTURE MAY TRADE VOLATILE WITH POSITIVE BIAS AND WOULD REMAIN RANGE BOUND. POSSIBILITY OF SUDDEN PROFIT BOOKING AT HIGHER LEVELS MAY NOT BE RULED OUT.

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