Nifty View for 29.12.2011

Nifty expiry moves can be volatile and be not for everybody's liking.Opinions for expiry will differ from person to person with different reasons.Its like a grand finale for the series with make or break effort by traders to achieve their targets on this important day.Predicting the expiry makes it very different and at times very foolish.So no predictions on that aspect try to be with the levels given for intraday and try to save the blushes for the day.Nifty is moving lower and lower from the top of 4800 or so.We had lost 100 points on the Nifty in two days is the fact to acknowledge.Positional traders can wait with some patience and are now safe with profits booked around 4800 levels as suggested by me.Break of the range given on the charts on closing basis on spot nifty can be traded by positional traders with a stop loss as per risk of the trader.Intraday traders can look for levels given below for spot nifty to trade on 29.12.2011.

Spot Nifty levels for intra-day trade on 29.12.2011
No trade between 4689 and 4723(to avoid whipsaws)
Buy above 4723 with SL of 4703  
for targets of 4740-4757(breakout  level on the upside,add positions) -4774-4791-4808-4825-4842-4859.
Sell below 4689 with SL of 4709 
for targets of 4672-4655(breakdown level on downside, add positions)-4638 -4621 -4604 -4583- 4566- 4549.
Happy Trading !