NIFTY TODAY -Pre-Market study

As per the yesterday graph shown above the NIFTY may Rebound back into its range bound trading , to attain this the market may sustain and slightly move up towards 5090 plus level.

NIFTY -Yesterday

HIGH- 5067

LOW- 5001

CLOSE-5042

NIFTY TODAY

S2-4971

S1-5006

PIVOT-5037

R1-5072

R2-5102
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Today nifty may be 'back to square one' and move/try to sustain the level above R1.The opening may be a marginal gap down and from there it may claim up to the Hurdle Range-'5042'.

if, it can crossover this 5042 level with massive buying may lead the NIFTY to break y.day high and can go to 5082 level and beyond.

Why Indian Market Stuck Within the Range Bound

FOR THE BETTER VIEW OF THIS GRAPH-DOUBLE CLICK ON TOP

The market is really stuck within a narrow range bound.The graph of nifty for the past five days shown above...shows the trading was really tussle between two walls up and down from 5082 to 5188.The real trading activity is limited Between 5094 to 5167..it was a kind of mood breaking /very shallow.it is not able to break up/down decisively with volumes..very sober trading Days.

My views for tomorrow i.e 15th Dec, the market may fall after a long stagnation..the bears may take charge of it...the advance tax report is going to come..something is hidden..there is a reasons-to make up.

NIFTY ON- 14/12/2009
HIGH-5156.70
LOW - 5090.15
CLOSE- 5105.70

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NIFTY FOR -15/12/2009
S 2-5050.95
S 1-5078.30
Pivot-5117.50
R 1-5144.85
R 2-5184.05
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' NIFTY ' 20 DAYS MOVING AVERAGE - 5081

KEEP STOPLOSS FOR ALL YOUR LONGS.

If the market 'open above the pivot just observe a while to identify the trend' of the market and also keep an eye and ear in the media news..than decide and jump to take a position accordingly.For short keep R1,R2 as stop loss.

for long keep yesterday low as a stoploss OR keep the 20days DMA As a SL .

WISH YOU A HAPPY TRADING.

'LET US MAKE ABUNDANCE WEALTH'

NIFTY TODAY

Today nifty seems to be one more Range Bound Movment.The graph indicating the above is clearly showing this fact.The market opens just a marginal discount(Many were expected Gap Up opening) So the day is going to witness either a choppy trade or Range Bound.

We have to look out the Dollar index for any erratic movement / volatality in the Market.

NFTY-Today levels

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S 2-5060.55
S 1-5086.25
Pivot-5116.30
R 1-5142.00
R 2-5172.05

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The market should sustain above today's pivot i.e -is 5116 level for bullish trend and it has to cross-over '5162' than only the upmove is possible.There is a hurdle in 5184 and 5208...cross over of these levels will bring a fresh buying and the market would possibly Uproar.

The market is as of now trading less than the pivot and i am expecting it will cut 5080.00 level and when it cut 5062.00 (20Dma) with volumes ,it will create panic among bulls and that may faours the Bears.

Asian markets are still in red and that shows strength for bears. Today bank nifty showing some weakness...is there any bad new's?? we have to look out this too. Agressive trader can go short around 5120 levels and keep 5127.00 as a strict stop loss.You may possibly gain 40 -60 points in intra day .