Another consolidation near 5000 and Nifty closed at 4990.10 with a minimal gain of 4.45 point. Now we may think about the break-out if Nifty manages 5000 for today and tomorrow. Due to expiry of May series and roll-over for June series, volatility may be seen.
For today, WATCH 4990-4995 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 5022/5050 AND EVEN 5070 (200 DMA) ON THE UP SIDE WHEREAS BREAKING 4970, NIFTY MAY HIT 4950/4930 ON THE DOWNSIDE.
For today, WATCH 4990-4995 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 5022/5050 AND EVEN 5070 (200 DMA) ON THE UP SIDE WHEREAS BREAKING 4970, NIFTY MAY HIT 4950/4930 ON THE DOWNSIDE.
From options data,,highest options base has been shifted to 4700 put and 5100 calls. However, as of now 4900 may act as support and 5000 may act as resistance. 4800 will act as strong support and 5100-5110 (After crossing 5000) 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.
"REAL-TIME NIFTY CHART" - BUY WHEN 20-MIN. EMA(GREEN LINE) CROSSES 50-MIN. EMA(RED LINE) DOWN TO UPSIDE AND VICE-VERSA. IN ADDITION, GREEN DOT INDICATES BULLISH SIGNAL AND RED DOT INDICATES BEARISH SIGNAL ON INTRA-DAY BASIS. NO NEED TO REFRESH THE PAGE REPEATEDLY. THE CHART WILL AUTO REFRESH IN EVERY 10 SECONDS. - 'HAPPY TRADING'.
