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Nifty Spot Updated on 23.02.13

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Nifty Spot

Nifty is likely to hold the support in 5825-5840 region.

In this case it may pull back up to 5950-5970

and will form head and Shoulder pattern

which has bearish implication.

14 Period Stochastic and RSI is in oversold zone.

If shows more power than this pullback may

extend up to 6017-6030 where long term

rising trend line may stall the rally.

This up move will form another right shoulder.

In case Nifty breaks and closes below

5820 then nonstop slide up to next downside

support at  5750-5735 which is 

 23.60 % Fib retracement level.

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IDFC,Union Bank Of India & JSW Steel

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idfc

IDFC

Closing price = 155.20

Moved up to 165 in a pullback.

Strong hurdle at 163-165.

Now will face hurdle at 158.

Likely to slide up to 152.

If sustains below 152 then slide up to 147.

Union Bank Of India

Closing Price = 226.80.

Pulledback up to 243 which is strong barrier.

Now below 233 bears will kill.

Expect panic up to 214.

JSW Steel

Bears may dominate the trend 790.

Sell on rise.

Traders may act at 770-777

Break below 763 may slide up to 752-744.

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Nifty FUT Trade Setup For 22 February 2013

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nifty-futures

Nifty Future

(Updated on 22-02-2013 at 08.10 AM)

We clearly mentioned that Nifty fut has strong

hurdle at 5975-5989 zone.

Nifty rose up to 5974 and plunged.

Also written that below 5925 would have panic

selloff up to 5888 and may retest recent lows.

Now for today…

Support @ 5831-5817 for intraday.

Break below 5817 except slide up to 5802.

IF breaks and sustains below 5795 then

panic selloff up to 5755-5735.

Hurdle at 5874-5890.

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Nifty FUT Trade Setup For 12 February 2013

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BankNifty Spot

Strong hurdle @ 12470-12490.

Break below 12350 may take again up to 12270-12290.

Support at 12240-12260.

zee Zee Ent.

Support at 217-218 on rising trend line.

If violates then slide up to 212-213.

If buyers support then trend may revive and

move up to 226-229-232.

Whirlpool

Above 228 bulls may drive the trend.

Exit below 226.

Above 232 our target is 238-240.

Maruti

Sell on rise below 1226.

If Breaks below 1500 then again likely

to retest 1480-1468.

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Nifty FUT Trade Setup For 21 February 2013

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Nifty Future

(Updated on 21-02-2013 at 07.40 AM)

Yesterday mentioned that above 5962

Nifty fut would move up to 5973.

Nifty fut made high at 5974.40 and closed at 5963.85.

Support at 5954-5948 for intraday.

Break below 5947 may take NF up to 5934-5928.

If sustains below 5925 for 20 minutes

then more panic sell off not ruled out

which may take up to 5895-5988.

5975-5989 is strong hurdle.

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Nifty Fut made reversal as projected on 15-02-13

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Nifty fut is facing hurdle at 5970-5977

as written in our post. If overcomes this zone

and sustains for 15 minutes then only

may rally up to 5994-6009.

Nifty fut made reversal as projected.

Recommended subscriber to intiate long

position at 5870 for Target at 5960-5970.

Also recommended Tata Global at 139, BPCL AT 374-376

for Target = 384-388. JP Asso at 71.50-71.80

for target of 75, ICICI Bank at 1120-1122

for Target of 1137-1144.

This is not Miracle but power of Trend following strategy

based on Technical expertise.

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