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(Updated on 04.05.12 Time 08.50 am)
Markets remained under pressure throughout the last session.
We had written here failure to sustain above 5224-5238
would cause it to plunge down to 5171.
This session may see 5171- 5155-5129 and likely to hold the market.
Panic sell off may take it to 5079 in case of further deterioration.
5224-5238 intraday hurdles.
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Date 03.05.12
(Updated Time 9.05 am)
Long from 5158 and moved to 5301
We had written yesterday for Nifty Future to run up to 5309 – 5321. It travelled up to 5301.70
reversed to wipe out the morning gain since it didn’t sustain at higher levels...
Now What for Today…
Trading above 5266 will keep the spirit high for the bulls.
This point may push Nifty Future to 5300 and 5312
5224-5238 are the key intraday zone
Failing to sustain above may cause change direction to 5171-5155-5129.
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(Date 02-05-2012)
Entered into Nifty Future for long 5158 around for targets 5322-5344 (Positional)
Monday morning prior to market opening we had written that Nifty Future would see the upper levels 5238-5270. Nifty future Zoomed to 5288 and retraced.
Intraday commentary
Trades above 5270 will drag it to – 5309-5321
Game Points for Intraday is 5266
(Suppose to trade below it …then 5221-5238)
Points for Day Traders
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Updated 30.04.12 Time 09.05 am
As we mentioned earlier, we are long from 5158
It went to 5240 in a special Saturday session
even when very little participation from institution
Market likely to open around 5235. Now Watch the next level 5270 if trades above.
5238 for 15-20 minutes.
5193 and 5202 is intraday support zone
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As we mentioned earlier 5142-5159 is quite strong area which largely attract buyers and nifty just touched it (Yesterday low is 5168)
We have already bought Nifty Future 5160 around 3 days back… Yesterday almost 1st target done…but you might have position for next targets…
What for Today?
Above 5217 will drive it to 5236 and if sustains for 10-15 minutes then likely to run upto 5276.
Positional: “Suppose to close 5270 above…then 5322-5348
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Still long? from 5158 level. 5238 and 5268 are hurdle.
Maintain exit at 5170
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