September 3, 2010

NIFTY OUTLOOK FOR MONDAY AND COMING WEEK

HI FRIENDS .......... NIFTY  OPEN AT 5486 ON FRIDAY  AND MADE HIGH 5510  , SLIPS DOWN TO 5473.65 IN INTRADAY AND CLOSED AT 5479.4 . AS PER FNO DATA 5400-5600 IS RANGE FOR NIFTY AND NIFTY TRADING WITH POSTIVE BIAS . WE CAN FIND 5450 IS VERY NICE SUPPORT FOR MONDAY TRADING SESSION  AND 5520 TO 5545 AREA AS MAJOR RESISTANCE .TRY TO BUY NEAR SUPPORT IF COMES AND SELL NEAR 5520-5530 WITH STOPLOSS OF 5555 FOR THE TARGETS LIKE 5500-5495 IF SHORT TRADE TRIGGERD .

OVERALL NIFTY WILL TRADE IN TIGHT RANGE OF 5450-5545 WHOLE WEEK , BREAK ANYSIDE WILL DECIEDE FUTURE TREND . IN MY VIEW BUY IN DIPS IS RIGHT STRATEGY FOR COMING WEEK . METAL , FERT SECTOR LOOKING GOOD FOR BUY IN DIPS .

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