Nifty View for 13.12.2011

As expected today nifty was sell on rise.Nifty obliged with open above last close.For those who could not sell at open sell call was generated at 4869 and level of 4763 was achieved as per level given an gain of whopping 106 points.A profit of 106 x 50 = 5300 per lot of nifty. Also a bonus below 4830(2nd level break acts as trigger to add surplus position as per our system) i.e. 4830-4763=67 points again gain of 67 x 50 = 3350. In all a gain of  5300 + 3350 = 8650. Nifty looks vulnerable below 4750 and can make new low below it.Use 4750 as risk management level for any longs on nifty.We have still one day left for downside on nifty for corrective action as per astro readings.I expect the nifty to be positive(personal view use own discretion for trades) from wednesday so let us see how it works out ahead.Positional players can look to cover shorts at close tomorrrow and wait for wednesday to get the clear picture.Above chart shows the potential targets below the 4750 level on spot nifty if the downtrend continues further.For intraday player the levels given may be used.

Spot Nifty levels for intra-day trade on 13.12.2011
No trade between 4747 and 4782(to avoid whipsaws)
Buy above 4782 with SL of 4762  for targets of 4799-4817-4834-4851-4869-4886-4904-4921.
Sell below 4747 with SL of 4767 for targets of 4730-4713-4696-4679-4662-4645-4628-4611.
Happy Trading !