NIFTY Opened today flat along with global cues @ 5084. Nifty quickly gained ground above 5100 and in the process made a high of 5139. But some profit taking triggered the nifty futures to sell off closing @ 5112.Expect tommorrows trade to be Volatile coz of F/O Expiry.
Nifty has broken pass the 5020 level which was acting as a minor resistance and made a high of 5140. Now for the upside, 5175 - 5180 has turned out to be a major resistance. Nifty keeps getting sell orders at the higher end. On the downside, 5050 zone is a minor support for this move.
Our View on Nifty Futures is Bullish. A break above 5180 will add fresh momentum to the rally taking it all the way upto 5300 Level. Any Dip in the market should be used to enter in the long trade. On the downside, there is a minor support zone @ 5050 area. But only a close below 4920 – 4930 area will end any upside for nifty futures.
Our closed trade for today:
Stocks: ( 1 LOT )
JINDAL STEEL: SOLD @ 723.50 ( 23.11.09 ) – BOUGHT @ 698.00 ( 25.11.09 ) = PROFIT 24,500/-
UNITECH: SOLD @ 81.20 ( 23.11.09 ) – BOUGHT @ 78.00 ( 25.11.09 ) = PROFIT 14,400/-
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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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