Tuesday, December 31, 2013

Pre-Market Levels for 31st December (Tuesday), 2013 Working

Despite Correction Nifty is yet to break the Daily rising channel and close below the Low of 
previous day, which confirms the bias change (Presently Up).

Nifty Future Sustaining above 6353-6358 will be good for Nifty for some NAV Popup attempts 
Though the allowable limits as par derivatives data (See F&O cues) for

Nifty Future is [6265 - 6343] +/- 10/15 Points and
Nifty spot   is [6119 - 6349] +/- 10/15 Points

So, since Nifty spot is allowed to attempt 6359-6364, price of Nifty future can even go above 
the above expected upper limit of 6343+15 = 6358. There has been an approximate premium of 
40-60 points maintained between Nifty Future as against Nifty Spot. Considering the same Nifty 
Future may attempt to see between 6359 + 40 = 6399 / 6359 + 60 = 6419 or 6364 +40 = 6404 /
6364 + 60 = 6424.

Today is an important day as it is the Last day of Month, Year and NAV Popup day for the Mutual Funds. Considering the same Nifty may try to latch on to it's gains and Nifty Future may even attempt 6399-6424 Level.

Nifty Spot has Shocker Resistances between 6352-6362 (Very Difficult to cross and sustain above this week)
Nifty Future
6416-6424       Sell All
6393-6402       Strong Resistance (6402 Important Weekly Level)
6368-6375       Resistance
6354-6359       Remain Long Above
6348                Support
6327-6334       Strong Support
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Bankifty Spot has Shocker Resistances between 11771 -11938 (Very Difficult to cross and sustain above this week)

Banknifty Future
11770                Sell All 
11738                Month Important Target
11633-11662     Strong Resistance
11535                Strength Above and will Support if price goes above
11446-11458     Remain Long Above
11364-11375     Buy All

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