Today IIP data (Industrial production data) has come out it was much lower than expected so nifty future began to slide in morning session. Due to this news nifty future headed towards 4900 and as I see nifty options open interest, I found in nifty puts maximum open interest was at nifty 4900 put options. This should be near term support as of now, just wait and watch lets see if this level is not ... [Continue Reading]
Nifty future has some Support around 5140 on charts
Nifty future is trading near 5140 level, where it found support in last few trading sessions. My trading analysis suggest me that there is support level at 5140 on nifty and nifty future still holding above this level trader can open fresh long position on nifty future around 5140 - 5150 for intraday target as 5180 and 5195 level. Stop loss order placed few points below 5125 level, I would place ... [Continue Reading]
Nifty Future down 136 points Today, Huge Selling in Afternoon Session
Nifty future was trading lower by more than 125 points, major part of selling was due to poor data released from European in afternoon at 1:30pm IST. Also china PMI came lower suggesting confidence in Chinese economy is getting lower due to lower growth target. We saw commodities were trading lower on that account, thus creating strength in USD. In Europe just after the data was released we saw ... [Continue Reading]
Nifty Futures Intraday Support Resistance Level For 16 June 2011, Sell below 5405 Target 5338
Nifty futures again didn't manage to close above its strong resistance level of 5569. So we saw this selling pressure continuing and taking nifty futures to the lower levels of 5400. The mood of market participants is looking bearish especially the FII, as they have been selling continuously in equities. For intraday traders we will advice them to enter short positions only below 5405 level for ... [Continue Reading]