Bears were able to retain nifty below 50 dma but last candle is spinning bottom… volumes were comparatively low, rsi is trading below 30 and market is still trading above 20 week moving average so hope for bulls is still there …
Gap down opening with a volatile session ahead …nifty is trading at firm support and flat closing on Monday despite huge gains in $ is indicating that a smart pull back rally at any moment may be there till the time nifty spot will retain 5870 level … long unwinding in nifty futures is indicating that traders are not favoring fall ….nifty is cracking only due to panic long unwinding which is created by media …fact is here no new short positions since last 1 week …
FIIs are not selling aggressively …only 139 Cr is net selling figure in Jun so for …
It is advised to buy on dips in selective stocks and book profits at higher levels ,when profit booking is spotted…spot trend and enter in trade seeing its direction with proper stop loss order …knowledge is power …you can get everything on internet at free but what is to be searched and what is to be used … you can not find yourself that’s why we are offering our online course /support for trading and chart reading to predict /spot trend future target stop loss levels and what ever needed to become a perfect trader @ affordable rates …we are providing reliable cheapest brokerage service with 1 of the India’s top trading terminal including free technical analysis chart with terminal @ no extra cost /no software charges and no annual maintenance /hidden charges…
SGX nifty hourly chart is showing macd and rsi divergence favoring bulls
Trade in Nifty futures as per these levels
Buy at / above: 5871 Targets: 5890- 5906 – 5926 – 5945 – 5964
Stoploss : 5853
Sell at / below: 5853 Targets: 5836 – 5816 – 5797
Stoploss : 5871
NIFTY OUTLOOK AND TRADING LEVELS FOR 11 JUNE 2013
