Yesterday Nifty futures seen much large swings in intraday basis, open interest data shows that some short covering and fresh long build up seen in nifty futures march series. We will advice traders to go long for today as buying support can be seen near 5435 level in nifty futures targeting 5500 area today. Markets are in consolidation phase and may witness some fresh buying in today's session. ... [Continue Reading]
Nifty Futures Support Resistance Trading Level For 25 February 2011
On the expiry of February series some fresh short buildup seen in Nifty futures and is still targeting the 5200 area in near term. Markets are in bearish mood and will witness fresh selling pressure in coming days, before any up-move, however a strong resistance now do exists at 5348 level which is still acting as potential down side risk, as FII and EM funds are busy in continuing outflow in ... [Continue Reading]
Buy Nifty 5500 put Option Near 49 for February Series
Broader markets saw huge consolidation for last 4 trading sessions, but Nifty seems to be capped by the strong resistance at 5512 (50 DMA on 4 Hr. chart) . As nifty is still trading below 5512 level we expect the selling pressure to pull markets down on every up move, targeting the 5400 zone. So seeing this as a good opportunity we recommend to go long on nifty 5500 put near 49 level for target of ... [Continue Reading]
Nifty Futures Support Resistance Level For 22 February 2011
Nifty future is now consolidating before breakout in either direction, we are however bearish as long as nifty is trading below 5500 level. Downside and upside risk are same from current levels. We will advice traders to stay away from this market, as risk apatite is now high. If nifty is able to break above 5527 level and close for two days continuously then we will see a huge short covering ... [Continue Reading]
Nifty Futures Support Resistance Trading Level For 21 February 2011
After some short covering Nifty futures is still resuming its downtrend targeting towards 5400 levels on Monday. Markets are still mixed to bearish and will see consolidation before any upmove, however a strong resistance do exists at 5500 level which is still acting as potential downtrend, as FII are continuing their selling mood in this market. The markets are likely to witness more selling ... [Continue Reading]
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