Nifty future last week bounced from very good support level, but this bounce was a technical bounce and fundamentals had not changed at all. I am still of the view that nifty will be add some selling pressure around 4960 levels as level being strong resistance here. In the below chart the retracement of November 2010 high to low of December 2012, 23.6% level falls at 4967. Also retracement from ... [Continue Reading]
NIfty Future Chart Shows 5400 as Key Resistance Level, Short Sell Nifty Future
Nifty future has rallied from 4550 level to current 5370, being an 800 points positive move straightway. But for now key resistance for nifty spot lies at 5400 level. Moreover nifty 5400 call option has highest open interest hence limiting nifty future current uptrend to 5400 level. Trade setup using this information, will be to go short on nifty future around 5380 level for positional targets as ... [Continue Reading]
Nifty Future may Attract Short Selling, Buy Nifty 4900 Put Options
Nifty future has its upside capped at 500 Level for this January series expiry, but even near 4900 level attracting selling pressure in Nifty future and heavy weight stocks like Reliance, Infosys, TCS, Wipro, etc. Taking the advantage of this selling pressure we would advise traders to Buy Nifty 4900 put options near 104 level for positional targets as 150 and then 185 levels, Also exit this ... [Continue Reading]
Wipro Has Strong Resistance at 411 Level, Go Short on Wipro December Future
Wipro after very good bounce in last few days trading session, has now entered its resistance zone which is confirmed by 100 EMA (Exponential moving average) and 23.6% Fibonacci retracement level. So this level (411 level) can act as very strong resistance for this stock and we may see the stock to move lower towards 400 and then 395 levels. Traders can take advantage of this move by going short ... [Continue Reading]
Crompton Greaves is Offering Short Selling Trade Setup, Stock Trading Near Resistance
The stock that is trading near its short term resistance is CROMPGREAV (Crompton Greaves Ltd.), On daily charts we have found resistance for this stock near 136 to 139 zone and luckily we have spotted this opportunity to trade short on CROMPGREAV December futures. Traders can enter short positions in range 136 to 139 on CROMPGREAV December future contract, for positional targets as 130.1 and then ... [Continue Reading]