For 11-08-2010

Though Nifty closed in negative, still it managed to close above 5dema at 5457 and thereby keeping bullish hopes alive, thanks largely to Tatamotors which prevented nifty falling to further lows and pull it back above 5dema. Still, the Bull and Bear battle is evenly matched as one day Bulls take Nifty above breakpoint level and the nextday Bears pull the index down. Market is still not negative but the indications are that Bulls are getting tired. Let us watch and trade as per the levels.

NIFTY SPOT 5460.7
SENSEX SPOT 18219.99
BANKNIFTY SPOT 10519.95

NIFTY

Buy Above/SL 5486/18288 Target 5506/18343
SAR/Sell Below 5473/18254 Target 5448-5438/18186--18155

Sell Below/SL 5435/18152 Target 5414/18097
SAR/Buy Above 5449/18187 Target 5473---5483/18253--18280

BANK NIFTY

Buy Above/SL 10578 Target 10625
SAR/Sell Below 10550 Target 10491--10470

Sell Below/SL 10460 Target 10414
SAR/Buy Above 10492 Target 10548---10573

TRADING RETURNS

Nifty on 26-07-2010 [EOD] ------- 5418.6 [when we started our intraday levels]
Nifty on 10-08-2010 [EOD] ------- 5460.7
Nifty Returns ----------------------42 Points
Nifty Trading Returns --------------116 Points
--------------------------------------------------------
Bank Nifty on 04-08-2010[EOD] ---10489.3 [when we started our intraday levels]
Bank Nifty on 10-08-2010[EOD] ----10519.95
Bank Nifty Returns -----------------30 Points
Bank Nifty Trading Returns ---------191 Points