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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