• Trading Account
  • Downloads
  • Nifty Options OI
    • Nifty Max Pain Chart
    • Nifty Option Change in OI Chart
    • Nifty Put Call Ratio
    • Nifty Option Total Change in OI
    • Nifty Trend Finder
  • BankNifty Option OI
  • About Us
  • Learn Technical Analysis
    • Advance Option Trading Course

OurNifty.com

A Indian Stock Market Blog

  • Forex
  • Gold
  • Intraday Stocks
  • Midcap Stocks
  • Multibagger
  • Nifty
  • Nifty Option
  • NSE
  • Amibroker

Nifty Futures Support Resistance Level For 6 May 2011, Sell below 5539, For Target 5459

By Bhaveek Patel Leave a Comment

Nifty futures has been trading lower for last 9 sessions and today we have seen some profit booking in the form of short covering, due to lower crude oil prices. However we will advice traders to build short position on every up move. We are going to see more selling from the current levels which will pull the markets towards the 5200 level of past. So the current trend is down ward and taking the advantage of this downtrend we will be only looking for selling opportunities as long as nifty futures trades below 5655 level on closing basis. For intraday trading we will advice traders to sell nifty below 5539 level for intraday target of 5509 and 5469 level, also stop loss for this trade must be placed above 5555 level. The major selling is likely from the FII as they have selling continuously for last 6 sessions. Markets are in downtrend and is likely to witness more selling in today’s session.

At 11:15 AM (IST) Nifty is trading positive by 55 points. Today’s trend will be mixed to bearish, However fresh short positions are likely to be added near 5569 levels in open interest. Nifty Future trading range can be seen, as in the support resistance levels below.

Nifty Futures Level:
Resistance: 5539 / 5567
Support: 5505 / 5465

Nifty futures trading tips (6 May 2011): Sell Nifty Future below 5539 level for intraday target of 5509 and 5469 levels, also place Stop loss above 5555 level.

Share
Tweet
Pin
0 Shares

You Should Read This:

  1. Nifty Futures Support Resistance Level For 5 May 2011, Sell below 5569, For Target 5509 Nifty futures has faced strong resistance at 5569 level yesterday and is trading below this crucial level even today. The major selling came from the FII as they were net sellers of Rs.1000cr yesterday. We...
  2. Nifty Futures Support Resistance Level For 16 May 2011, Sell below 5566, For Target 5459 Huge selling pulled the nifty to 5400 levels in last week, we saw nifty making series of lower high and lower lows suggesting a strong downtrend. Nifty has moved from 5900 to 5400 in a...
  3. Nifty Futures Support Resistance Level For 23 May 2011, Sell below 5413, For Target 5272 Nifty futures continuing its downtrend falling from 5900 to 5414 levels last Friday. We are looking for selling opportunities only on every up move from here. Also markets are likely to stay highly volatility due...
  4. Nifty Futures Support Resistance Level For 9 March 2011, Buy or Sell Nifty futures is facing strong resistance at 5555. Open interest data shows that some fresh short build up seen in nifty futures march series. We will advice traders to trade short for today as selling...
  5. Nifty Futures Support Resistance Level For 21 June 2011: Sell below 5330 For Target 5205 Nifty futures has given the downside breakout and this is signal for continuation of down trend. We see that markets has broken all the major supports and is now heading towards the last support of...

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.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post: Forex: USD/CHF Trading Analysis for 5 May 2011: Sell below 0.8605
Next Post: Nifty Futures Support Resistance Level For 16 May 2011, Sell below 5566, For Target 5459

Advance Options Trading Course

options trading course

Lowest Brokerage Trading A/c

Lowest brokerage trading account opening in India

Learn Technical Analysis

technical analysis course

Recent Articles

  • ASX Penny Stocks List for 2025
  • 7 Ways to Boost Your Revenue
  • NYSE Penny Stocks List for 2025
  • Short On Cash? Here’s How You Can Manage Your Priority Spends
  • FREE Webinar on Option Chain Analysis
  • LSE Penny stocks list for trading in 2025 Should you buy?
  • BSE Penny Stocks List 2025

Popular Categories

Amibroker Finance Forex Gold Intraday Stocks IPO Midcap Stocks Multibagger NEWS Nifty Nifty Option NSE Results Short Term Stocks Technical Analysis

About Us | Contact Us | Privacy Policy | Disclaimer


Copyright © 2009 - 2025 OurNifty.com Trading ideas published here cannot be reproduced without permission from the author.
OurNifty is Powered by Wordpress and hosted on Digital Ocean