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THOUGHT FOR TODAY
Happiness It is the art of living, the purpose of our existence. Happiness is the true index of quality of life. Without happiness, life is dry and meaningless. With happiness, life immediately becomes fulfilling and wonderful. Happiness is an infectious feeling that immediately lifts the sagging spirits of people. Happy people keep themselves happy because they know the little ways to appreciate themselves and to see the humour and magic in each moment.Nifty Future
(Updated on 08-02-2013 at 08.20 AM)
We mentioned that Nifty has
great Resistance in moving upward at 6075-6090 levels
When It was trading at 6060-6075 levels
Now for today…
Intraday support @ 5940-5948.
If breaks 5928 and trades for 20 minutes
then See panic up to 5902.
If not breaking yesterday’s low at 5940 and
trades above 5967-5973 zone then may go up to 5993.
Strong hurdle at 5989-6000 zone.
Lower levels we have been had writing here have been
achieved for Nifty spot and futures.
Three consecutive closes below 5914 may drag
Nifty fut up to 5831-5818.
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This is just a brief update;
Now I know that as long downside action is corrective bulls will buy the dip so no chance of kicking off the overdue correction as long as bears do not achieve an impulsive decline.
I am not going to review all the Bullish arguments, but I want to show you the huge bullishness as per indicators and technical theories. Just watch chart, suppose to break/Close 5882…then big correction possible in markets…
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Nifty Future
(Updated on 06-02-2013 at 07.40 AM)
Yesterday written break below 5978 Nifty fut
would deep up to 5959.
Nifty fut made low at 5964 and closed at 5974.45.
Now for today…
Support @ 5967-5963 for intraday.
If trades above 5977-5981 NF
may rally up to 6000-60015.
Hurdle at 6011-6020.
Crucial support at 5940.
Break down below may take up to 5915.
Likely to consolidate between 6000-5960 and
will not break below 5960.
Closing above 6040 may revive uptrend.
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Banknifty spot
Bears will be strong below 12660.
Break below 12523 Expect nonstop
panic up to 12419-12331-12226.
ONGC
Below 330 Bears will dominate the short term trend.
Break below 324 except slide up to 320-318.
Shri Ram Transport fin.
Buyers zone at 768-764
Expect Bounce up to 780
Support at 767-763.
Break below may take 754-744.
Tech Mahindra
Hurdle at 997-1005
If break below 984 and sustains for 20-30 minutes
then expect sell off up to 968.
PNB
Sell below 877
Non stop slide up to 862-855.
Exit short above 892
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