NIFTY TODAY

Today the market opening was simply great, a gap up opening almost 30 points. when many traders were expecting a gap down opening ; May be because of that the market just gaught in between the Day high-4999.90 <-> Day low-4967.10.The movments was narrowed within 37 -points

The 5.30 market hours was such a narrow bounded and made the traders spiritless..i feel the market come to an conclusive end of the mid point from where it can jump to either sides.This is what they call ' cat on the wall '.in today the market was unable to hit the 5010 level and unable to break down 4926 level.The market closed near the day high that give hope among the bulls.

let see what will happen tomorrow.

WHy Nifty certainly Fell Down From the Day High!!

a) Graph Nifty Dec 11th(Intraday)
b)Graph Nifty 11th Dec,weekly

The Gap Up Opening gave confidence among bulls and many day traders and it was stagnated for a while in the range bound between 5160 to 5173 and certainly jumps to the high 5188 and fell deeply to 5096 and lately went down to 5081.55. (Strong Support at- 5080.00)

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Why this certain Fall ?

Many says the weak IIP data.is it so!!!

In my view,it is not only because of that..it may be a coincidence ->The nifty touched the third top (Triple Top in "5186" level) and fell from there.(Almost 100 points dropped down) One another reason could be the operaters who operates as and when they wish and decides the direction of the market to their favour. ( Would have Gained great milage out of it today).

I need to know the facts behind..if anyone have some idea...Share..Let me learn.

Any how, it is all part and parcel of this Business.

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Have a great week End

NIFTY FUTURE - OUT LOOK

NIFTY TODAY

Date: 7th December 2009

High: 5131.30
Low: 5051.55
Open: 5108.85

Close: 5066.70

Trading Strategy for 8th dec 2009

In my view,

As per the "7th December 2009 " - trade Reference- Nifty could'nt Decisively cut the 5000 mark with volume,and hence the panic selling didn't happen. So there is a posibillity of one more choppy trade may be expected ahead.

if nifty opens in a discount below '5044' (20days DMA)there is a chance for Bears to come in and pull down the index to 4962 or even down to it. (or) the trade will be again Range bound within S2 to R2.

Today pivot 5084,if trade above this level with volume can lead upto 5140 and may go upto 5170 range,bears be cautious , if Nifty future crossover yesterday high i.e:-5131 level.

S2-5004 S1-5035 <-------> R1-5115 R2-5163

Always trade with caution or put strict stoploss for each trade.