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Nifty Futures Likely to Target 5250 Level Next Week 14 March 2011

By Bhaveek Patel Leave a Comment

Markets failed to close above the comfort zone of 5555. This failure will result in intense selling in the broader markets. However, Nifty close below 5500 level, closing below 5500 in March 2011, continuing its down trend. On last Friday Nifty didn’t managed to close above its resistance of 5555 level which can still act as resistance for the up trend in short term. Also on downside if Nifty breaks 5400 and closes below that level for at lest 2 days then the down trend will continue and create more selling pressure hinting 5250 level and then 5175 level. So a trader has to be cautious at these levels and trade with strict discipline.

When we talk about nifty futures we are more likely to break down to 5250 levels. Technically nifty is having strong resistance at 5555 level. Support at 5251 and 5174.

Our trading strategy for next week 14 March 2011 : Sell nifty below 5495 level for weekly target 5250. Also place stop loss near 5554 on closing basis.

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Category: Nifty Tags: nifty/ Nifty Analysis/ Nifty Levels

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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