Pre-Market View - Nifty & Bank Nifty Near Month Future for 11th Oct, 2013

Nifty Future Near Month ( 6042-44 Nifty Spot is Strong Resistance / Support)

6155           - Sell Zone
6115-6121   - Stiff Resistance
6070            - Resistance / Sell Below
6040-46      - Sell Below / Weakness will start below /Buy Holding
6027-6029   - Support
5983- 5995  - Good Support / Sell Below
5949           - Support
5923-36     - Strong Support



Bank Nifty Future Near Month ( 10320 Bank Nifty Spot is Strong Resistance/ Support)

10850-10900  Strong Resistance
10650-10725  Resistance
10370-10500  Very Stiff Resistance
10250        Weakness Point
10000-10100  Strong Support
9800         Weakness Below
9650         Good Support

Nifty Future

First Target done 50% profit booking @6070

Nifty Future Update

If Momentum is good Nifty Future may attempt 6125

Nifty Spot Update

If the momentum is good and Nifty Spot is able to go above 6045 and sustain 6070-80 may be the target

Nifty Future Update

If longs get activated please take the first target as 6070 and exit 50% longs there and up the Stop Loss for the rest to Buying Price + 3 to cover other costs.

Intraday Update on Nifty Spot

Terminal might have got invalidated / will get invalidated but rising wedge is still valid and upper trend-line will provide resistance to Nifty Spot between 6035-44 range (for today) and 6043-44 is also a=c Target.  Please exit all longs near 6040 Nifty Spot for today.

Intraday Update

Some time correction has happened & Market is shedding it's overbought situation somewhat for some more up-move.

Intraday Call Nifty Future

LONG @ 6052 S/L 6029 Target1 6085  Target 2 6095 ( CMP 6016)

Nifty Spot

6015 as Mentioned is the Key Number for the for Nifty Spot.

Intra Update

6040-50 Nifty Spot will be quite risky zone Market is already getting quite Overbought. 

Ending Diagonal Update

Nifty has now crucial Support at 5950 & an Inverted H&S with 5950 as Neckline. So, sustaining above 6033 and protecting 5950  the Target becomes around 6200. Let us see how market tells us what is in it's mind.

Pre-Market View 10th Oct, 2013

Nifty Future Near Month Future (6015 Nifty Spot will be key for the day)
Choppy day expected with big volatility


6115        Significant Resistance
6084-6091   Stiff Resistance
6050-6060   Crossing this and holding will give strength to Nifty
5995-6000   Support
5975-85     Huge Support / Sell below
5945-55     Support
5936        Support
5905-5916   Big Strong Support


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Bank Nifty Near Month Future (10350 Bank Nifty Spot will be the key for the day)
Bank Nifty is in-front of strong resistance zone


10700-10900     Strong Resistance
10550-10650     Resistance
10400-10500     Stiff Resistance
10250                Below Weakness
10050-10150     Huge Support
9700-9800        Big Support