Nifty View for 07.01.2012.

Nifty is very Natkhat nowadays.Kabhi hasati hai kabhi rulati hai.It was both today and many were butchered with positions going haywire.Hope my readers were not among them as I had mentioned them to be cautious.The levels worked perfectly and my clients were happy.Now what ahead.Is it a "BULL TRAP".Well time will tell so no predictions from me.I work with levels and saved my day today.Akhir "Bhav Bhagwan Hai" aur "Paise Wohi Deta Hai".The early you understand this the more money you may make in such markets.I wish everybody learns it early to save their bleeding accounts soon.Everything is marked on the charts for positional traders.Bottom line for today is Nifty could not sustain above 4800.Positional traders can trade as per chart above.Intraday traders can look for levels given below.

Spot Nifty levels for intra-day trade on 07.01.2012
No trade between 4737 and 4771(to avoid whipsaws)
Buy above 4767 with SL of 4771  
for targets of 4788-4805(breakout  level on the upside,add positions) 4822-4839-4857-4876-4893-4900.

Sell below 4737 with SL of 4757 
for targets of 4720-4703(breakdown level on downside, add positions)-4686 -4669-4652- 4635- 4618-4601.
Happy Trading !