Nifty Conservative Trading
--------------------------------
Nifty Monthly Long above 5705(HEMA) and 5167 (LEMA) (TREND UP ABOVE 5315)
Nifty Weekly Long above 5234(HEMA) and 4959 (LEMA) (TREND UP ABOVE 5023)
Nifty Daily Long above 4931(HEMA) and 4816 (LEMA) (TREND UP ABOVE 4849)
Nifty Hourly Long above 4808(HEMA) and 4760 (LEMA) (TREND UP ABOVE 4775)
Nifty JNSAR
---------------------------------------
Nifty Weekly JNSAR 5212 -stay short
Nifty Daily JNSAR 4931 -stay short
Nifty Hourly JNSAR 4807 -stay short
Nifty Havala Level
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30-July-11 4840
Nifty Aggressive Trading
---------------------------------
Range 56 max 4808 min 4648
STOP LOSS 10 points only.
Support and Resistance
--------------------
4680-4784-4810-4865-4951-(5006-5011)-5057-5114-5182-5225-5296-5350-5393-(5433-5460)-5490-5502-5532-5539-5550-5580-5606-5616-5630-5658-5667-5729-5754-5775-5865-(5940-5965)-6090-6175-6250-(6325-6350)
Open Interest
-----------------------
Support 4700/4800
Resistance 5000
Trade Conclusion
--------------------------------
We may remain in consolidation range .50 -75 points downside is still left.
GO Long Near 4700 stoploss 4675.
Hope that helps .Take care .Have a happy trading.
Bank Nifty Analysis on http://tradeinbankonly.blogspot.com
Nifty had closed below the very crucial support zone of 4780 level which includes 38.2%
Fibonacci retracement and lower channel band.
A downside channel was plotted earlier by curving two parallel trendlines. The upper band
(trendline) was plotted with joining the previous multiple tops while the lower band was plotted
with a parallel trendline of the above mentioned trendline commencing from the 5177 low. On
extended that lower trendline it had provided support on last week and bulls had also made a
minor pullback from those levels. But on last Friday this particular channel was breached
downside.
Another major support that bulls were eyeing was 38.2% Fibonacci retracement level of the total
upmove from 2252 towards 6338 and the relevant value comes around 4777. This was also
breached in last Friday trade.
The next major support zones for bulls comes around 4675 and below those a drift towards 4500
levels can happen. Any pullbacks could carry Nifty towards 4960-5030 levels.
Nifty Conservative Trading
--------------------------------
Nifty Monthly Long above 5705(HEMA) and 5192 (LEMA) (TREND UP ABOVE 5361)
Nifty Weekly Long above 5234(HEMA) and 4989 (LEMA) (TREND UP ABOVE 5070)
Nifty Daily Long above 4983(HEMA) and 4882 (LEMA) (TREND UP ABOVE 4929)
Nifty Hourly Long above 4926(HEMA) and 4894 (LEMA) (TREND UP ABOVE 4908)
Nifty JNSAR
---------------------------------------
Nifty Weekly JNSAR 5238 -stay short
Nifty Daily JNSAR 5001 -stay short
Nifty Hourly JNSAR 4914 -stay short
Nifty Havala Level
-----------------------------------------------
30-July-11 5487
Nifty Aggressive Trading
---------------------------------
Range 56 max 4920 min 4810
STOP LOSS 10 points only.
Support and Resistance
--------------------
4680-4784-4810-4865-4951-(5006-5011)-5057-5114-5182-5225-5296-5350-5393-(5433-5460)-5490-5502-5532-5539-5550-5580-5606-5616-5630-5658-5667-5729-5754-5775-5865-(5940-5965)-6090-6175-6250-(6325-6350)
Open Interest
-----------------------
Support 4800
Resistance 5000
Trade Conclusion
--------------------------------
We may remain in consolidation range . keep short with stoploss of 4965 for target 4777
Hope that helps .Take care .Have a happy trading.
Bank Nifty Analysis on http://tradeinbankonly.blogspot.com
Pray for him .......................He is fighting for all of us.
Nifty Conservative Trading
--------------------------------
Nifty Monthly Long above 5705(HEMA) and 5192 (LEMA) (TREND UP ABOVE 5365)
Nifty Weekly Long above 5216(HEMA) and 4989 (LEMA) (TREND UP ABOVE 5074)
Nifty Daily Long above 5006(HEMA) and 4897 (LEMA) (TREND UP ABOVE 4950)
Nifty Hourly Long above 4890(HEMA) and 5006 (LEMA) (TREND UP ABOVE 4878)
Nifty JNSAR
---------------------------------------
Nifty Weekly JNSAR 5433 -stay short
Nifty Daily JNSAR 5086 -stay short
Nifty Hourly JNSAR 4851 -stay long
Nifty Havala Level
-----------------------------------------------
30-July-11 5487
Nifty Aggressive Trading
---------------------------------
Range 56 max 4980 min 4895
STOP LOSS 10 points only.
Support and Resistance
--------------------
4680-4784-4828-4880-4951-(5006-5011)-5057-5114-5182-5225-5296-5350-5393-(5433-5460)-5490-5502-5532-5539-5550-5580-5606-5616-5630-5658-5667-5729-5754-5775-5865-(5940-5965)-6090-6175-6250-(6325-6350)
Open Interest
-----------------------
Support 4800/4700
Resistance 5000
Trade Conclusion
--------------------------------
4940 -create short around this level with strict stoploss of 20 points.
We may remain in sideways market with selling pressure at upper level.
As long as 5940 /5114 is protected ,we have 70% chance of hitting 4700.so fresh should be tried around these level only.
Hope that helps .Take care .Have a happy trading.
Bank Nifty Analysis on http://tradeinbankonly.blogspot.com
