Nifty opened today with a very positive to upward biased @ 4819 up almost 20 points. It tested support at the low of the day @ 4780. But very quickly gathered momentum to break pass 4825 taking Nifty all the way to above 4900. It closed almost at the high point of the day @ 4905.
Nifty gave a very positive close above the resistance @ 4850 area. Closing above this important level makes way to much higher levels. If the upwards momentum continues, then 5050 – 5100 is very much achievable. On the downside, 4750 area acts as a minor support for now.
Our view on Nifty Futures is Bullish for now. We can very expect 5050 – 5100 area to be challenged in couple of days if the momentum continues. And on the downside, a close below 4750 is negative and take the Nifty all the way down to 4525 area.
Our closed trade for today:
Bank nifty:
Bought @ 8540 ( 05.11.2009 ) – SOLD @ 8940 ( 09.11.2009 ) = PROFIT 40,000/-
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We have maintained trade by trade performances along with Equity Curve and ROI(Return on Investment) for last 21 months.It can be viewed at the following links:
www.aaksharstock.com/equitycurve.html
www.aaksharstock.com/roi.html
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