Thursday, July 3, 2014
Update on Nifty Future
First trade was buy level Target1(7768.6) to Sell Level Target1(7731.2).
*In rangebound days normally the trades will be Buy Level Target1 to Sell Level Target1 or Buy Level1 to Sell level1 or Buy Level2 to Sell level2 .
*In rangebound days normally the trades will be Buy Level Target1 to Sell Level Target1 or Buy Level1 to Sell level1 or Buy Level2 to Sell level2 .
Update
2nd half may be important to see if some sharp correction / intraday volatility happens considering the overbought situation in Nifty.
Pre-Market Levels For 3rd July, 2014 Working
Trade the Levels, Charts Can Adjust.
For Nifty +/- 5/6 Points and for Banknifty +/-10-12 Points, is allowed deviation
7690-7721 is enormous resistance for Nifty Spot and if cleared well will become big support for the Month.
Nifty Future
Weak below 7726 and Strong above 7756. 7726-7732 Main Supports and 7764 and 7781-7794 Main Resistances. 7735 is Key. Day SAR is at 7612.
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Buy Above or Closer to 7751.85 Target1 - 7768.60 Target2 7795.65 Target3 - 7796.70 Target4 - 7824.85 Target5 - 7833.15 Target6 - 7841.50 Target7 - 7864.40 Target8 - 7887.30 S/L 7747.85-(aggr) /7726.95-(Cons)
OR
Buy Closer to or C.O Above 7704.05 Target1 - 7747.85-7751.85 Target2 - 7768.60 Target3 7795.65 Target4 - 7796.70 Target5 - 7824.85 Target6 - 7833.15 Target7 - 7841.50 Target8 - 7864.40 Target9 - 7887.30 S/L 7704.05 or Day's Low
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Sell Below or Closer to 7747.85 Target1 - 7731.20 Target2 - 7704.00 Target3 - 7703.00 Target4 - 7674.85 Target5 - 7666.55 Target6 - 7658.20 Target7 - 7635.30 Target8 - 7612.40 S/L 7751.85-(aggr) /7772.75-(Cons)
OR
Sell Closer to or C.O Below 7795.65 Target1 - 7751.85-7747.85 Target2 - 7731.20 Target3 - 7704.00 Target4 - 7703.00 Target5 - 7674.85 Target6 - 7666.55 Target7 - 7658.20 Target8 - 7635.30 Target9 - 7612.40 S/L 7795.65 or Day's High
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Banknifty Future
Weak below 15550 and Strong above 15610. 15562-15570 Main Supports and 15610-15622 and 15686 /15712-15739 Main Resistances. 15558 is Key. Day SAR is at 15277.
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Buy Above or Closer to 15602.40 Target1 - 15617.00 Target2 15645.20 Target3 - 15673.30 Target4 - 15743.25 Target5 - 15815.70 Target6 - 15888.20 Target7 - 15960.65 Target8 - 16033.10 S/L 15594.30-(aggr) /15525.90-(Cons)
OR
Buy Closer to or C.O Above 15453.45 Target1 - 15594.30-15602.40 Target2 - 15617.00 Target3 15645.20 Target4 - 15673.30 Target5 - 15743.25 Target6 - 15815.70 Target7 - 15888.20 Target8 - 15960.65 Target9 - 16033.10 S/L 15453.45 or Day's Low
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Sell Below or Closer to 15594.30 Target1 - 15579.60 Target2 - 15551.50 Target3 - 15523.35 Target4 - 15453.45 Target5 - 15381.00 Target6 - 15308.50 Target7 - 15236.05 Target8 - 15163.60 S/L 15602.40-(aggr) /15670.80-(Cons)
OR
Sell Closer to or C.O Below 15743.25 Target1 - 15602.40-15594.30 Target2 - 15579.60 Target3 - 15551.50 Target4 - 15523.35 Target5 - 15453.45 Target6 - 15381.00 Target7 - 15308.50 Target8 - 15236.05 Target9 - 15163.60 S/L 15743.25 or Day's High
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For Nifty +/- 5/6 Points and for Banknifty +/-10-12 Points, is allowed deviation
7690-7721 is enormous resistance for Nifty Spot and if cleared well will become big support for the Month.
Nifty Future
Weak below 7726 and Strong above 7756. 7726-7732 Main Supports and 7764 and 7781-7794 Main Resistances. 7735 is Key. Day SAR is at 7612.
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Buy Above or Closer to 7751.85 Target1 - 7768.60 Target2 7795.65 Target3 - 7796.70 Target4 - 7824.85 Target5 - 7833.15 Target6 - 7841.50 Target7 - 7864.40 Target8 - 7887.30 S/L 7747.85-(aggr) /7726.95-(Cons)
OR
Buy Closer to or C.O Above 7704.05 Target1 - 7747.85-7751.85 Target2 - 7768.60 Target3 7795.65 Target4 - 7796.70 Target5 - 7824.85 Target6 - 7833.15 Target7 - 7841.50 Target8 - 7864.40 Target9 - 7887.30 S/L 7704.05 or Day's Low
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Sell Below or Closer to 7747.85 Target1 - 7731.20 Target2 - 7704.00 Target3 - 7703.00 Target4 - 7674.85 Target5 - 7666.55 Target6 - 7658.20 Target7 - 7635.30 Target8 - 7612.40 S/L 7751.85-(aggr) /7772.75-(Cons)
OR
Sell Closer to or C.O Below 7795.65 Target1 - 7751.85-7747.85 Target2 - 7731.20 Target3 - 7704.00 Target4 - 7703.00 Target5 - 7674.85 Target6 - 7666.55 Target7 - 7658.20 Target8 - 7635.30 Target9 - 7612.40 S/L 7795.65 or Day's High
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Banknifty Future
Weak below 15550 and Strong above 15610. 15562-15570 Main Supports and 15610-15622 and 15686 /15712-15739 Main Resistances. 15558 is Key. Day SAR is at 15277.
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Buy Above or Closer to 15602.40 Target1 - 15617.00 Target2 15645.20 Target3 - 15673.30 Target4 - 15743.25 Target5 - 15815.70 Target6 - 15888.20 Target7 - 15960.65 Target8 - 16033.10 S/L 15594.30-(aggr) /15525.90-(Cons)
OR
Buy Closer to or C.O Above 15453.45 Target1 - 15594.30-15602.40 Target2 - 15617.00 Target3 15645.20 Target4 - 15673.30 Target5 - 15743.25 Target6 - 15815.70 Target7 - 15888.20 Target8 - 15960.65 Target9 - 16033.10 S/L 15453.45 or Day's Low
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Sell Below or Closer to 15594.30 Target1 - 15579.60 Target2 - 15551.50 Target3 - 15523.35 Target4 - 15453.45 Target5 - 15381.00 Target6 - 15308.50 Target7 - 15236.05 Target8 - 15163.60 S/L 15602.40-(aggr) /15670.80-(Cons)
OR
Sell Closer to or C.O Below 15743.25 Target1 - 15602.40-15594.30 Target2 - 15579.60 Target3 - 15551.50 Target4 - 15523.35 Target5 - 15453.45 Target6 - 15381.00 Target7 - 15308.50 Target8 - 15236.05 Target9 - 15163.60 S/L 15743.25 or Day's High
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Reply to Comment
Dear Sudheer,
I have mentioned holding 7691. I agree that Nifty is now looking overbought (Esp. in hourly), this could lead to high volatility for 2 days. But do you think considering the past background when market had rallied on each occasion whenever Modi govt. was due for something, the market can correct ? Anyway we shall keep a strong eye on 7691 on EOD close basis. In my opinion the charts are telling that a 3 - 6 days upmove expected even if at worst it is a grinding move. Nifty may even attempt higher levels than 7821.
I have mentioned holding 7691. I agree that Nifty is now looking overbought (Esp. in hourly), this could lead to high volatility for 2 days. But do you think considering the past background when market had rallied on each occasion whenever Modi govt. was due for something, the market can correct ? Anyway we shall keep a strong eye on 7691 on EOD close basis. In my opinion the charts are telling that a 3 - 6 days upmove expected even if at worst it is a grinding move. Nifty may even attempt higher levels than 7821.
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