Reports of European Union Leaders discussion for plan to keep Greece in the Euro Zone including overnight price hike in Petrol by UPA-II Govt. and late recovery in US markets made Nifty closed at 4921.40 with huge gain of 85.75 points (nearly 1.77%). However, as said earlier, Trend is still down and we may take it as reversal only if Nifty cross atleast 4970 with volume.
For today, WATCH 4950-4956 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4970/4990 AND EVEN 5000 (PSYCHOLOGICAL RESISANCE?) ON THE UP SIDE WHEREAS BREAKING 4900, NIFTY MAY HIT 4880/4850 ON THE DOWNSIDE.
For today, WATCH 4950-4956 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4970/4990 AND EVEN 5000 (PSYCHOLOGICAL RESISANCE?) ON THE UP SIDE WHEREAS BREAKING 4900, NIFTY MAY HIT 4880/4850 ON THE DOWNSIDE.
From options data,,highest options base has been shifted to 4700 put and 5200 calls. However, as of now 4800 may act as support and 4970/5000 may act as resistance. 5200 (After crossing 5000 and 5100-5110) will act as strong resistance.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
