NIFTY OUTLOOK AND TRADING LEVELS FOR 17 June 2013: RBI policy Day

Flat to positive opening is expected for nifty with extremely volatile session ahead …as we will see outcome of RBI policy today at 11 AM ..OMCs will catch fire today as petrol price hiked by 2 .

India’s consumer inflation likely eased for the third straight month in May, but remained high enough to be a headache for the RBI, which is under pressure to cut rates today after headline wholesale inflation cooled.  http://www.deccanherald.com/content/339111/stretched-rupee-may-dull-rate.html   posted at Deccan herald

but we are expecting 1 more 100 points jump in nifty today …it seems that nifty will trade above 5900 today..

Trade in nifty futures  as per these levels

go long above 5778  for targets 5818 5843 5883  5919 

sl 5765  reverse trade at 5764  targets 5722  5697  5660 

we will experience at dull market till 11 AM …at 11 AM wild moves will be there  during credit policy announcement..and after that detailed discussion at business channels will pour oil in fire…

Intraday nifty chart of Friday is showing that momentum was fast initially then slowed and then at steady pace moved  to higher levels

Chatroom will be active for real time updates and profit making calls based on technical analysis .

Do not risk your hard earned money on your gut feelings .

Spot the trend then enter in trade according to trend with proper stop loss order .

 

NIFTY OUTLOOK AND TRADING LEVELS FOR 17 June 2013: RBI policy Day