Nifty futures has given the downside breakout yesterday and we are now looking for 2 days closing below 5555 level. This may signal for the short term down trend. We see that markets has broken all the major supports and there is no major support un-till 5050 level. Also the intraday resistance is now at 5555 and 5600 levels today. So the downtrend must continue till the next support level is ... [Continue Reading]
Intraday Trading Analysis for Nifty Futures Today, Trading the RBI credit Policy Sell Nifty Futures, For Target 5520
Nifty futures seen deep correction just after the RBI declared its credit policy, hiking the interest rates, reverse repo and repo by 50 bps basis points and keeping the CRR cash reserve ratio unchanged at 6%. This has brought intense selling in the banking stocks like ICICI BANK, STATE BANK OF INDIA, HDFC BANK. This panic selling came from the major market participants, as this was unexpected by ... [Continue Reading]
Nifty Futures July Technical Analysis and Target Level for Next Week for 25 July 2011
Indian markets closed strongly above 5600 level, but still we see that markets are in range and this range is likely to be 5560 and 5685 range. So this will be better to wait for the breakout in either direction as the markets were not strong enough to break out of this range. For range traders the support lies at 5560 level and resistance is at 5685 level. So we are again back in the ... [Continue Reading]
Today’s Trading Analysis on Nifty Futures, Buy above 5610, For Target 5665
Nifty futures is trading positive today, at 11:30 AM today it was up by 72 points. We will be looking for buying opportunities as nifty futures is trading firmly above its strong resistance zone of 5600. Also there was support from the European markets yesterday. So this is very good opportunity for intraday traders to long positions in nifty futures for today's trade. We will recommend to buy ... [Continue Reading]
Trading Analysis on Nifty Futures For 20 July 2011, Buy above 5606 for target 5670
Nifty future is trading in tight range from past 4 sessions, this consolidation should not be ruled out for longer period of time and we should see a breakout in the positive direction. At CMP we will however remain bullish as long as nifty is trading above 5605 level. Technical analysis indicators are showing intermediate bullish momentum from current levels, we are confident that there should be ... [Continue Reading]
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