Nifty Target. Support and Resistance

Today Nifty levels 3336 and 3394 are to be watched for further new long/short positions. Nifty's ultimate target today is 3280 with resistance at 3420

RIL levels 1730 and 1680 are to be watched for further new long/short positions.
DLF levels 245 and 235 are to be watched for further new long/short positions.

Nifty Target. Support and Resistance

Today Nifty level 3359-3336 are to be watched and in any selling pressure may test 3320-3280 levels today.

Dow Jones and Hangseng are also on the verge of breaking down, another 200 points on Hangseng and another 100 points on Dow Jones on downside seems to be support as of now.

Nifty's ultimate target today is 3250 with resistance at 3420

Is Nifty going to correct now?

To show any weakness in global market Dow Jones must close below 7850 level or atleast test that level tonight.

Until DJI breaks 7850 on downside, its seems in short term up trend and similary until breaks 3310-3240 on downside, it seems in short term up trend.

Also RIL seems in short term up trend until it breaks 1680 on downside.

Nifty Target. Support and Resistance

Nifty is waiting to break out either side today. The Nifty levels of 3370 and 3330 are to be watched on closing basis to decide next movement.

Neither bulls nor bears seems to be ready to give up their current position. Now the question is who win win?

RIL DLF RCOM are trading such levels that anytime major profit booking can take place.

Why to Trade in Nifty

• It is an index of 50 stocks of various sectors added together, so it is general sentiment of market
• On monthly basis Nifty normally has 400-700 points between high and low, so even you get half, does it not worth?
• It is less volatile compared to stocks moving 20-50% up or down in a single day !!!
• If someone can wait to observe its trend, this seems safer trading strategy whether buy/sell

Where will Nifty go NOW?

What Experts Say and what meaning I take from it !!!

11:55 AM - Buy Reliance Power on dips at Rs 90, says Rajesh Tambe of Sunchan Securities on Zee Business.
BOOK PROFIT TODAY BECAUSE IT WILL COME DOWN NOW

12:18 PM - Buy Mercator Lines on dips at Rs 27-28 with long-term view, says Prakash Gaba, technical analyst, on CNBC Awaaz.
BOOK PROFIT TODAY BECAUSE IT WILL COME DOWN NOW

2:16 PM - Sell Nifty T-3170 SL@ 3320, Hemen Kapadia
DO NOT BUY FRESH NIFTY LONG AND EXIT LONG AT 3170

2:28 PM-Buy RIL T-1722 SL@1662, Hemen Kapadia…. Hit SL but closed @1671
BECAUSE RIL HAS HIT SL(BUY) TODAY SO BOOK PROFIT IN RIL AND SHORT SELL BELOW 1650

2:42PM-Buy SBI T-1194 SL@1134, Hemen Kapadia….. Closed below SL !!!
EXIT SBI LONG POSITIONS

3:17 PM - Buy Nifty futures with a target of 3450 and stop loss of 3150, says Ashwani Gujral
HOLD SHORT/FRESH-SHORT NIFTY BELOW 3150

3:21 PM - Sell Nifty futures with a target of 3170 and stop loss of 3290, says Prakash Gaba
EXIT NIFTY LONG POSITIONS BELOW 3170

3:23 PM - Hold Nifty longs, it has resistance at 3330 and support at 3220, says Rahul Mohindar
EXIT NIFTY LONG BELOW 3220

3:25 PM - Hold existing long positions with target of 3275 and stop loss of 3215, says Vijay Bhambwani
EXIT NIFTY LONG BELOW 3215


The conclusion seems to be Hold Nifty shorts created today with SL@3275 and add more shorts below 3170

This is only for educational purpose,
this is NOT a trading idea for intraday or delivery

Do Paper Trading before you start trading
with your hard earned money

Nifty Target. Resistance, Support

Today on April 6, Nifty seems to be still in bull run.

Now the question is whether Nifty@3320-3350 and Reliance Industries @1720-1750 will create profit booking and buying on dips or profit booking and also short selling?

Nifty seems to have good support around 3040 as of now.

Nifty Target. Support and Resistance

At the moment bears seems to be caught red handed.

Nifty at 3040, which was resistance, now it has become support.

And now resistance seems to be in the range of 3164-3174 for today on closing basis. Intraday Nifty future may test 3200 to hit bears ultimate stoploss of today !

It may worth to buy Nifty3100PE in the range of 60-63 and holding it for target of 120-240 in this month.

This is only for educational purpose,
this is NOT a trading idea for intraday or delivery

April Fool Day

Market made April Fool to many traders today.

Today market opened weak and hit SL@1500 of yesterday's RIL Buy call and then later in day it had hit SL@1580 of RIL sell call@1545 !!

RIL have been dragging market upside

Hangseng Closed negative, DowJones Future was trading negative also FTSE traded negative.

Nifty Target. Support and Resistance

Below 2973 Nifty may test 2933-2924 today.

Is it waiting Big Bro RIL to break 1500 on lower side, with a good volume?

After that will RIL test 1468-1439?

This is only for educational purpose,
this is NOT a trading idea for intraday or delivery