BUY LUPIN FUT @460 SL 450 TARGET 470-490 -500
Monday, October 25, 2010
25TH OCTOBER NIFTY VIEW.
In Friday's trading, after a flat opening, Nifty Future remained sideways and then went down to a low of 6058 and closed at 6090. In the opening session, it made a high of 6150 but could not cross the previous day's high of 6152.
Friday's low of 6058 should be considered as higher bottom and any buy trades for today should be taken with 6055 as stop loss. week will be FNO settlement week which could lead to higher volatility.
it will be better to consider buy trades for This week with stop loss of 6055. On higher side Nifty Future will find resistance at 6155 and 6200. If it manages to close above 6200, possibility of testing the previous top of 6336 will be very high.
Down side should be considered only below 6055 that too with 6000 giving good support. But considering the weekly candle and the strength in Reliance, it looks unlikely that more down side (i.e. below 6000) will be seen at least till FNO settlement on Thursday.
All the best.
Subscribe to:
Posts (Atom)