Nifty view 07/12/09

Markets are moving on a consolidation phase. Any correction if happens, that should be taken as an opportunity to go long, unless if happens due to any bad news. Jobless data from US showing some sign of recovery after 2007. But Nifty spot has a major hurdle at 5182, if surpasses that mark with good volume then a heavy short covering and fresh buying will happen.

Safe traders can initiate longs above 5205, since i feel it's a safe area and a major blast of longs can be used to book quick and safe profits.

Bank Nifty is getting ready for a major move. Positional traders and swing traders can make use of it. Details regarding the entry point and target will be given to paid clients only.


Nifty spot Levels for the day:

5082 - 5110 - 5144 - 5169 - 5182 - 5205

Friends I am happy to inform this, from today my NEWS LETTER service has been started. Still if any one wants to join me can mail you details to mkt_calls@ymail.com .