"THINK SMARTLY, THINK AHEAD"
::: SWING VOLUME PATTERN CHART ::: ::: THE FORMULA TO BEAT, SMART MONEY :::
::: ITS ALL ABOUT VOLUME & LEVEL BASE GAME :::
We are Offering Two Types of Trading Platform ABN Hybrid & Hybrid-Lite :: Just Click To Know More
JOIN OUR NEW SMS SERVER - EXCLUSIVE & INSTANT DELV - SEND SMS JOIN ABNSTKS TO 58247
Just Click To Submit Your Detail's - Info's For Our Future Reference & Exclusive Offers
"Click Here For ABN Paid Advisory Services" - "Intraday Nifty Future & Positional Stock Pick"

Wednesday, September 8, 2010

NIFTY DAILY OUTLOOK SEPT 8, 2010



On Tuesday, market opened flat on global clues, during the whole
session nifty was trading in a range 5575-5595, during last hour of
session nifty manage to hit resistance levels of 5605/5630 , but could
not sustain and last 15 minutes went under heavy profit booking as
expected. Nifty 5700 calls added huge open interest, the move in
nifty and so much volatility in nifty sept 5700 call options led to a
conclusion of huge call writing in nifty sept 5700 call option.

For the day, the level of 5580 and 5560 may act as a major support
for the market and the level of 5615/5640 may act as a major hurdle.
Short / medium term traders are advisable to start booking profit in
long position. Short / medium term trader can start building short
position in nifty above 5600 level in parts with stop loss of three
consecutive close above 5680.

Day trader can go long on nifty above 5615 with stop loss 5480 for
target 5640/5660 and can go short below 5580 with stop loss 5605
for target 5560 /5545.

INDEX RANGE

NIFTY: 5604
Range: 5560-5640
Resistance: 5615-5640-5660
Support: 5580-5560-5530


BANK NIFTY: 11193
Range: 11050-11380
Resistance: 11265-11320-11380
Support: 11155-11100-11050


Short term: Up (5530)
Medium term: UP (5470)
Long term: Up (5180)

All Above Spot Levels

OM SHRI GANESHAYA NAMAH

No comments:

Post a Comment