NIFTY VIEW FOR 08-07-2013

NIFTY VIEW FOR 08-07-2013

05-07-2013 

TECHNICAL ANALYSIS 

follow up:-

Friday  market open with gap & traded in side ways & close with narrow range (doji pattern) 

nifty high 5904 & low 5758 ltp 5872 & avg is 5882 

observation is 5825 till 5785 is a strong support zone & sell off zone is 5875 till 5888   

if $ 59.7199 IS SUPPORT.then WE CONSIDER AVG 4.5 % SWING OF MONTH THEN TRG IS 61.8875  

 

sgx nifty trading @ 5815 & $ top @ 61.3855 & ltp is 60.9880 both price @ international market.

June month avg is 5785,current month avg is 5823.fii net bought 60000 cont on friday,avg was 5803

DATA:-

AS ON 04-07-2013 FII OI was 358  AS ON 05-07-2013 FII OPEN INTEREST is 368,today we have seen mixed approach.not change in oi but net 10000 long in oi & 4000 short in system.

 net result still  long position is higher then short.

Conclusion :-

No aggressive approach in market now but market support zone is 5825 till 5785 & selling zone is 5936 & 5965.

(we will buy stock & buy put)

we have not seen sell off till Friday by fii,so we will not change our view till sell off came to market.

For intra day trading we will buy from 5820 till 5800 & for sell from 5858 till 5875  

For next week if market made bottom around 5800 (+/-10 point)close above 5862 then will see new top above 5905 5945.   

(ALWAYS EXECUTE YOUR  STOP LOSS)