Nifty has closed above 5200 a strong weekly close.Its been a dream run from the start of the year or last week of the previous year.The rally is yet not confirming any reversal signal.So no shorts are yet to be taken.Those who feel missed out can take a covered call of buying nifty future and selling 5200CE and then move on as per the markets.Positional traders need watch the levels of 5200-5225 for resistance as mentioned earlier.On Monday we need to look whether fresh positions are opened for the rally to continue.The ADX positive DI has reached above 40.The spread between the positive DI and negative DI need to be watched.The momentum indicator is still pointing its head up confirming the uptrend.Positional traders can buy above 5240 if it comes with stop loss of 5220.Intraday traders can look at the levels on spot nifty given below for trades on 30.01.2012
Spot Nifty levels for intra-day trade on 30.01.2012
No trade between 5223 and 5187(to avoid whipsaws)
Buy above 5223 with SL of 5203
for targets of 5241-5259(breakout level on the upside,add positions) 5277-5295-5313-5331-5349-5368.
No trade between 5223 and 5187(to avoid whipsaws)
Buy above 5223 with SL of 5203
for targets of 5241-5259(breakout level on the upside,add positions) 5277-5295-5313-5331-5349-5368.
Sell below 5187 with SL of 5207
for targets of 5169-5151(breakdown level on downside, add positions)-5133 -5115-5097- 5079- 5061-5043.
Happy Trading !
for targets of 5169-5151(breakdown level on downside, add positions)-5133 -5115-5097- 5079- 5061-5043.
thanks sir for information
ReplyDeleteAshokji,
ReplyDeleteWelcome to my blog.It is for information to readers and to convey my thoughts on market.I like to communicate my views and learn through interaction.I am happy to learn you like the info here.please keep visiting and give your comments as and when possible.
Regards
K B Raut
Hi KBR:
ReplyDeleteUseful and good blog KBR. Really feel nice to see a good blog on Nifty. I stumbled onto your blog and was amazed with some of the content. thanks and keep writing :)
Regards
Vinod
Hi VK,
ReplyDeleteWelcome to my blog.Thank you for the kind words.Do keep visiting.
Regards
K B Raut