NIFTY VIEW FOR 15.09.2011

Nifty today closed in the positive zone above 4950 with a psychological figure above 5000 at 5012.55.The level of 4900 acted as a good support with Nifty taking support around that level thrice.The swings have been wild from top to bottom catching traders with their stop losses.At such times keep the trades light with small targets and only intraday view rather than positional view.The range remains the same between 4880 to 5180 of 300 points.The move between 5180 and 4720 was 430 points with 4950 as centre.A move above 4950 was the level to be looking for long and Nifty has moved above it.Now Nifty should try the close the small gap of 20 odd points.Now Nifty should catch momentum in the up direction without dipping below the low of  4911.The levels to be watched on spot Nifty is 5080 and 5114.

Levels to watch on Spot Nifty :
No trading zone between 4995 to 5030 to avoid whipsaws.
Buy above 5030 with SL of 5015 for targets of 5048 - 5066 - 5084- 5109
Sell below 4995 with SL of 5010 for targets of 4977 - 4960 - 4942- 4924
Happy Trading !