Wednesday, August 4, 2010

For 05-08-2010

Nifty points carried forward in August ----- Plus 164

It was a good day yesterday with good gains on our intraday trade levels though nifty was rangebound for just 20 points till 3pm and then brokeout on the upside. Nifty's positive closing will help it moving towards the psychological 5500 mark and cross it. But still it has not closed above the previous high of 5477 and so caution is advised in Longs with strict stoplosses. Close above the magic number 5555 in the coming days could put nifty on a further good upmove. Intraday breaking 5450-5445 is an early sign of weakness. Trade as per the levels given.

NIFTY SPOT 5467.85
SENSEX SPOT 18217.44


Buy Above/SL 5498 Target 5521
SAR/Sell Below 5482 Target 5453-5435

Sell Below/SL 5438 Target 5413,5395
SAR/Buy Above 5454 Target 5483---5495


Buy Above/SL 10552 Target 10603
SAR/Sell Below 10520 Target 10458---10420

Sell Below/SL 10427 Target 10375
SAR/Buy Above 10460 Target 10520---10545

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