Today's nifty levels - aravinth raj m

[aravinthrajm]

SPOT NIFTY LEVELS FOR 01.06.2009

4426 above 4512-4574-4594
(Strong Resistance - 4594)

4425 below 4363-4343-4321-4278-4216-4198
(Strong Supports - 4343, 4321, 4198)

US markets rallied during its close as the GDP fell less than expected. Our markets closed the month with a great positive note. Now Spot Nifty will take support for the month at 4320 and there are more chances for the markets to test 4800-5100+ for this expiry. Below 4320 Spot Nifty could drift till 4145 where buying support would come. Undertone for the markets are on the upbeat and any fall in this kind of markets is clear Buy with 4145-4118-3870 as Stoplosses. Downside worries will plunge in the markets only if Spot Nifty breaks 3850 and there are bleak chances for that in this June Expiry. Short term players could take advantage on positional trades with above said Stoplosses.

 

[metushar]

Wow the timing of message is 5:46 am.....u live in india ?

 

[aravinthrajm]

Yup. I live in Tamilnadu

 

[aravinthrajm]

SPOT NIFTY LEVELS FOR 02.06.2009

4509 above 4567-4594-4604-4662-4699
(Strong Resistances - 4594, 4699)

4508 below 4471-413-4376-4343
(Strong Support - 4343)

Markets were stuck in a tight band after a gap up opening and were not able to give a clear signal on the direction. Seeing the overbought condition, there are more chances of a correction to come in before a rally to 4800-5000+. Any fall in this market is a clear Buy with 4145 in Spot Nifty as stoploss. GM has announced bankruptcy after it sold its OPEL unit and US markets welcomed the move of GM. US markets rallied after the news was out and this could fire up our markets to some extent. Asian markets have opened flat without any reaction to GMs bankruptcy. Our market trend is unique and a healthy correction is pending to make the markets to move further up.

 

[aravinthrajm]

SPOT NIFTY LEVELS FOR 05.06.2009

4594 above 4619-4665-4739
(Strong Resistance - 4739)

4536 below 4490-4407-4361-4343
(Strong Support - 4343)

Markets have been choppy for couple of days and yesterdays intraday swing shows the underlying bullishness prevailing in this market. Few big stocks lost open interest on Net basis yesterday which shows that there are few unwinding of Long positions. Any close above 4600 will further rig up the rally. Otherwise a correction is due in the following week which could drag the markets till 4250 area. Any fall to this area should be used to Buy for a target 4800-5000+. European markets ended flat giving no clue for our markets. This continuous rally in our markets are encouraging but, anything that goes up has to come down is the basic rule of this market which would reflect soon. Watch out.

 

[samlife83]

ur saying that "Otherwise a correction is due in the following week which could drag the markets till 4250 area".......is quite rite.....more over in july the budget would be released and what i see is that it would be remain stagnant for a couple of weeks with low range.....but we may hope to see the market in gud position by August end

 

[aravinthrajm]

Markets take intraday correction and move up to make new high of the day. This is not a good sign in the medium term. Then Markets may correct once for all in few weeks which will hit us worst. Markets should always have decent correction in Daily charts before they make new high which is not the case now. Still that gap of 300-400 points is left unfilled in Nifty. Let us see what markets have left for us.

 

[aravinthrajm]

Performance

 

[haushang]

with respact sir i think it's little late OR it's for entire month plzzzzzzz tell me and clear my confusion

 

[aravinthrajm]

It is for today. The levels are posted before markets and performance is posted after the markets. Levels which are mentioned inside the chart image is same as levels posted pre market. Hope you are clear.