Free Stock market / Nifty intraday tips

Nifty future (Date 02-05-2012)

Nifty future tips

(Date 02-05-2012)

We 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

  • 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 Weeks SMA
  • Positional: The market is up as long as 5200 holds…
  • SGX Nifty is trading 35 points above…

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