Free Stock market / Nifty intraday tips

Nifty future (Date 02-05-2012)

Nifty future

(Date 02-05-2012)

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We entered into Nifty Future for long 5158 around for targets 5322-5344 (As Positionally)
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Monday morning prior to market opening we had written that Nifty Future would see the upper levels 5238-5270.  Nifty future
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Zoomed to 5288 and retraced.

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Intraday commentary
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Trades above 5270 will drag it to  – 5309-5321
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Game Points for Intraday is 5266
(Suppose to trade below it …then 5221-5238)

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Points for Day Traders

  • Wall Street ends higher & Asian markets also trading higher
  • Spot Nifty Chart: Price below 20 and 50 day SMA
  • Weekly chart for Spot: Price has to take a decision to either close above 5 week High EMA or 20 Week SMA
  • Positinal: The market is up as long as 5200 holds…
  • SGX Nifty is trading 35 points above…

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