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]
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]
Trading Analysis on Nifty Futures For 18 July 2011, buy above 5577, For Target 5628
Nifty futures is trading flat today, at 10:30 AM today. But the closing that we have seen in last week suggest us that there is now up side possible and we are now looking for buying opportunities as long as price action remains above the 5577 level (on 2 days closing basis). So traders should be look for buys only, We are now bullish for intraday trading as nifty futures has managed to close ... [Continue Reading]
Trading IIP Data Nifty Futures for 12 July 2011: sell below 5570 for Target 5508
Nifty futures is trading lower about 64 points, at 11:02 AM today. But the price action is suggesting some fresh selling just after the IIP number for MAY 2011 we saw very weak number from MAY IIP data. Soon the selling followed just after the release of IIP numbers. Also Nifty has broken the strong support of 5569 level and we are sure that selling is likely to follow and will be pulling the ... [Continue Reading]
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