Nifty View for 15.02.2012

Spot Nifty has again been spiked up in the late hours of trading with a higher close at 5416.05 nearly 4 points higher then close on 09.02.2012.We closed today at the higher end of the consolidation zone of 100 points roughly from 5320 to 5420 for the spot nifty.Nifty has been resilient through out this consolidation.Its making higher top and higher bottoms to keep the trend alive.So one can say its been been buy on dips for the nifty.Those who could follow this have profited immensely.The fibo fans on charts show the clusters of price action for the move.Break above the 61.8% level of fibo fan will take spot nifty still higher as shown in chart.Keep a watch on the action there to get clues on the nifty.Our positional call on spot nifty is activated today again.Keep stop loss of 5405 with targets given earlier.Intraday traders can look at levels given below on spot nifty to trade on 15.02.2012

Spot Nifty levels for intra-day trade on 15.02.2012
No trade between 5398 and 5435(to avoid whipsaws)
Buy above 5435 with SL of 5405 
for targets of 5453-5472(breakout  level on the upside,add positions) 5490-5509-5527-5546-5564-5583.

Sell below 5398 with SL of 5418 
for targets of 5380-5361(breakdown level on downside, add positions)-5343 -5324-5306- 5288- 5270-5252.

Happy Trading !