Monday, September 6, 2010

For 07-09-2010, Tuesday

Atlast, yesterday, indices have broken out of their narrow trading range and throughout yesterday they were making steady progress to move above the previous high of 5549, cross the magic no. 5555.55 and close at 5576, thanks mainly to Reliance and bankstocks. Other index stocks also joined the party. As long as Nifty does not close below 5524 level, it can march near 5640 atleast, if not crosses it. Till signs of weakness appear, index can be bought in declines with proper stoploss for good gains in position trading.

Yesterday the indices low levels[nifty, sensex and banknifty all punched] were actually not traded as nifty gapped up around 5520 levels. As such, for today's trading, we may not wait till the targets are achieved but book profits whenever necessary as per our trading rules.



Buy Above/SL 5638/18822 Target 5686/19036
SAR/Sell Below 5607/18690Target -----------------
Sell Below/SL -------------- Target ------------------
SAR/Buy Above
------------ Target ------------------


Buy Above/SL 11344 Target 11446
SAR/Sell Below 11280 Target-------------
Sell Below/SL -------- Target ---------------
SAR/Buy Above ------ Target ----------------

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