Todays expiry was very eventful with a small down move first and then huge move on the upside.Bulls have defended the level of 4900 successfully and spot Nifty today closed at 5015.45.Spot Nifty has closed above the 50% level of the move and currently trading with positive bias.This move needs to be sustained further to keep the momentum upside.In the second chart spot nifty should break above the first circle to build up the momentum and close above it. The levels of 5060 and 5113 are to be watched on the upside.Fridays closing on the spot Nifty above 4950 will be positive as we may expect some profit booking.
LEVELS SPOT NIFTY FOR 30.09.2011
No trading zone between 4998 to 5033 to avoid whipsaws.
Buy above 5033 with SL of 5018 for targets of 5051 - 5069 - 5087- 5104
Sell below 4998 with SL of 5013 for targets of 4980 - 4962 - 4945- 4927
Happy Trading !
No trading zone between 4998 to 5033 to avoid whipsaws.
Buy above 5033 with SL of 5018 for targets of 5051 - 5069 - 5087- 5104
Sell below 4998 with SL of 5013 for targets of 4980 - 4962 - 4945- 4927
Happy Trading !
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