Tuesday, April 28, 2009
Monday, April 27, 2009
SUPPORT AND RESISTANCE FOR NIFTY
The pivot point for nifty is @ 3468 . First resistance is @ 3516 , r2 @ 3568 , r3 @ 3616 .
Support comes @ 3416 . s2 @ 3368 , s3 @ 3316 .
Pivot point is a point where major buying and selling takes place. So, pivot point acts as major resistance and support as the case may be.
trade well.
Support comes @ 3416 . s2 @ 3368 , s3 @ 3316 .
Pivot point is a point where major buying and selling takes place. So, pivot point acts as major resistance and support as the case may be.
trade well.
3 DAYS TO EXPIRY
3 days to expiry and still 85,000 crores of futures are open , the highest since 2007 jan. Market is likely to close below 3550 on nifty. One can buy in the money puts till expiry. 5 th may is the day when stress test result of top 17 US banks will be made public. The world market will have their eyes installed on this major event for near future . One can hedge their position and when the reacts according to the result can book profit . May options are showing more than expected premium during this time . Till the election results are out and a stable government is seen volume may tend to be on the lower side as compared to april series . FIIS are expected to be side watchers over the election result . Trade well.
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