Nifty has given a close above 5400 which indicates the inherent strength of the move.Today another swing high was made by spot nifty at 5423.40 and close the shops at 5412.50.This is an reassuring close for spot nifty and the dream run continues for the bulls.This is how sentiments work in markets.From an extreme bearish to extreme bullish and this is the very phenomenon which determines the prices of stocks.Positional traders did not have chance to go long as the call was buy above 5425 which was missed today.Intraday traders have made some profits today at it was buy above 5387 and our second target was achieved at 5422.Hope readers enjoyed it.Positional traders can buy above 5425 for targets of 5523-5542 with stop loss of 5405.One should buy again if crosses above 5425 after hitting stop loss of 5405.ADX is still strong with the momentum indicator headed up and -DI negative one headed down.The positive +DI should show some momentum for the move to continue ahead.
Spot Nifty levels for intra-day trade on 10.02.2012
No trade between 5394 and 5431(to avoid whipsaws)
Buy above 5431 with SL of 5411
for targets of 5449-5468(breakout level on the upside,add positions) 5486-5504-5523-5542-5560-5579.
No trade between 5394 and 5431(to avoid whipsaws)
Buy above 5431 with SL of 5411
for targets of 5449-5468(breakout level on the upside,add positions) 5486-5504-5523-5542-5560-5579.
Sell below 5394 with SL of 5414
for targets of 5376-5358(breakdown level on downside, add positions)-5340 -5322-5305- 5288- 5270-5253.
Happy Trading !
for targets of 5376-5358(breakdown level on downside, add positions)-5340 -5322-5305- 5288- 5270-5253.
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