Nifty has moved in our view and touched nearly the 5400 level on spot nifty.The 5400 level is critical for spot nifty so Mondays open will set the trend for the week.A weak opening below 5400 level will portend further weakness.If open gap up then we may see consolidation in range of 5425-5625.A retracement to 5525 level on spot will be ideal for nifty to gather strength.The ADX shows the positive and negative DI converging and the momentum slightly turning downwards which says to remain cautious.As we said no longs yet till we move above 5625.Hope readers must have profited from our view with 5400 level achieved.Nifty premiums are always high whenever roll-over starts for next series and beginning of fresh series.One can use the same for writing options and encash the time value if one is sure about the direction of Mr. Market.So next week can be interesting to build up positions for the series.Intraday Traders can look at the levels given below on spot nifty to trade on 27.02.2012.
Day trade Day trading is the practice of buying and selling of financial instruments throughout the day. As the day progresses, price will rise and fall in value, creating both opportunity for gain and a possibility of loss.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.