NIFTY- Spot Light (22/09 to 25/09)
Nifty has crossed and sustained above a crucial resistance at 4900 levels. Last minute positive breakout from ADAG stocks on friday adding hopes for further bull run. In the mean time Gold also standing near it's peak. Any break out will provide a huge up move which in turn may suck the funds flowing in share market. So friends just watch this, when ever the volumes turn low from here, we may see a correction(limited).
Short term longs can be held with a stop loss of 4886 and positional longs can be held with a stop at 4714. Friday shangai index once again tanked to 3% and monday we have to watch that index. Shorters didn't have a fair chance in this contract and the closing date is very near, so it's safe to stay away from option trading.
Nifty levels for the week (spot):
Don't expect any panic selling when Nifty sails in these level and in the worst case if breaks 4700 we may see a correction till 4353. All these should be taken as a supply area. Advance tax numbers denotes a healthy quaterly results up front.
If large cap stocks shows a healthy move then, long term investor's may be relaxed and continue their holdings for a better profit.
Short term longs can be held with a stop loss of 4886 and positional longs can be held with a stop at 4714. Friday shangai index once again tanked to 3% and monday we have to watch that index. Shorters didn't have a fair chance in this contract and the closing date is very near, so it's safe to stay away from option trading.
Nifty levels for the week (spot):
4820 - 4886 - 4930 - 4990 - 5047 - 5166 - 5224.
Don't expect any panic selling when Nifty sails in these level and in the worst case if breaks 4700 we may see a correction till 4353. All these should be taken as a supply area. Advance tax numbers denotes a healthy quaterly results up front.
If large cap stocks shows a healthy move then, long term investor's may be relaxed and continue their holdings for a better profit.
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