Monday, August 1, 2011

Update for Nifty Trading 02-08-11

As expected Nifty gave an upmove and was resisted in 5530-5550 zone.

Nifty is good above 5480 now and the real test of this bounce, if sustains, will be between 5580-5625 zone.
Break of 5450 is Bearish.

Keep 5570 as SAR as mentioned in Weekend Post for swing positions.

One good trade for tomorrow may be - If holds 5480 for initial opening hour , then go Long between 5500-5520 s/l 5480 Target 5550-70. This a counter trend trade, so keep light positions.

Did u know that Open Interest in Rollover of Nifty futures to Aug. series stood at lowest since Nov 2005 ???

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Piyush Sharda said...

recd mail rv . thanks will go thru

Piyush Sharda said...

rv, i asked a question at jazz's blog regarding ew. u views will be welcome