For 08-09-2010, Wednesday

Today is an interesting day numerically, 8/9/10 and let us hope it is luckyone too.

Yesterday, Nifty and Sensex continued their march upside but Banknifty cooled a bit. RSI is nearing Overbought and Stochastic is ready to show divergence. With such a stupendous rise on Monday and holiday on Friday, it is normal for indices to correct some gains as profit booking may come. For daytrading, as long as Nifty is not stuck in a narrow range and open normally without big gapup or gapdown, we can always trade as per our levels for good gains.

NIFTY SPOT5604
SENSEX SPOT18645.06
BANKNIFTY SPOT11192.95

NIFTY

Buy Above/SL 5634/18722 Target 5657/18784

SAR/Sell Below 5618/18683Target ----------------------

Sell Below/SL --------------- Target ------------------------
SAR/Buy Above -------------- Target -----------------------

BANK NIFTY

Buy Above/SL 11243 Target 11283
SAR/Sell Below 11217 Target -------------------
Sell Below/SL -------- Target ---------------------
SAR/Buy Above ------- Target --------------------