02-08-2010 to 06-08-2010, WEEKLY TREND

I expect NIFTY SPOT to trade rangebound. New series started with light OI indicating traders are not confident about further up move. NIFTY SPOT will face R 5410-5420, 5440-50. I will prefer to watch 5440-50 levels for further up move. Failed to cross these levels will attract fresh shorts in market. On contrary sustainable up move above these levels will open door for fresh up move which looks difficult in current situation. On up side, NIFTY SPOT strong R 5480-90. NIFTY SPOT will take S 5280-90. Break below 5270 levels will warn about possible correction. NIFTY SPOT strong S 5220-30 for next week. Stock specific action will remain in market.


Sunday, June 20, 2010

21-06-2010, NIFTY NEAR TERM VIEW

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NO FRESH LONG BY FII IN DERIVATIVE SEGMENT, JUST THE SHORT COVERING,
AS PER DATA % REDUCING DAY BY DAY as on Jun 16, 2010 is 32.47%, TODAY DATA WOULD BE UPDATED 0N 18TH MORNING,
SO WE STILL HAVE 3% TO 4 % THE TIME IT REACH BTW 28% - 29 % REVERSAL
WITH SOME DOWN SWING WHICH WOULD BE HEALTHY FOR MARKET & CHANGING INDICATORS VALUE TO NORMAL
USE DIPS FOR BUYING...
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