NIFTY WEEKLY 05 TO 09 SEPT 2011

We have a close above 5023 this week. We also have three indicators showing a buy. Next week trading above 5023 will target 5115 and 5200. But at the same time world markets are not favoring a buy. Hence did not take a postion and will trade 5023 next week. Buy above this and sell below this level.

NIFTY WEEKLY CHART- 02 SEPT 2011

Tomorrow if we close above 5024 this upmove will continue next week to 5207.
A closure below 5024 tomorrow and trading below this will see Nifty testing 200 SMA again which is plugged around 4829.

Happy Trading

NIFTY LONG TERM SUPPORT- UPDATE

On august 9th 2011 I had posted a chart showing that there is long term support at 4760 and to watch this level for support. We are already nearly 200 points above this after closing around 4760. Now remain long and enjoy the ride as long as Nifty closes above weekly 200 DMA which is presently around 4829.
Click on the link to read the post of 9th August http://nsefutures.blogspot.com/2011/08/nifty-long-term-support-level-august.html

NIFTY AND NIFTY OPTION TRADING LEVELS

NIFTY & NIFTY OPTION TRADING LEVELS 24 AUG 2011

NIFTY FUTURE TRADING LEVELS- 23 AUGUST 2011

AGGRESSIVE TRADES
Buy Above 4841 stop and reverse 4816
Sell Below 4896 stop and reverse 4923.75

CONSERVATIVE TRADES
Buy Above 4829.50 stop and reverse 4799
Sell Below 4893.25 stop and reverse 4923.75

NIFTY WEEKLY 200 EMA & SMA -19 AUG 2011

The 200 EMA is at 4871 and 200 SMA at 4839. Watch these levels closely for support. If we close below these levels then God help the bulls.

Happy Trading