Nifty for 16th MArch 2010

Hello Pirates

It was a very dull day today, Nifty was trading in a tight range and showed no moves and back to square one after last weeks performance, same range bound situation has been seen in the Index, Reliance Industries was holding the Index as per it showed some good advance tax numbers which was a booster for the market and a supporter also.

Over all Charts have been not showing any clear signal for the trend of the market, who would be the winner in the end, as per data its in a dangerous zone and we wont suggest any long positions at current levels, only risk takers can rake a opportunity to short at higher levels with strict stop loss.

As per the data, FIIs are again sellers in the Index and they are also unwinding there positions in calls and on the other side buying has been seen in puts, on the other hand retailers are covering there short positions yet again. Over all a MIX DATA is being witnessed creating a confussion all over the world and the big question in every ones ming.

WHERE IS THE INDEX MOVING TO, SHOULD WE BE LONG OR WE CAN SHORT ???

Well the answer to the above question is only known by the FII's, as of now Dow Jones is trading in RED and the ringing bell for Dow has been changed to 7 PM now, and SGX Nifty at current time at 5111.

For the Session

Nifty Important Level – 5124 (Futures)

Nifty can touch - (Futures)

Above the mentioned levels bulls  -  5134 - 5143 - 5149 - 5155

or

 

Below the mentioned levels bears - 5118 - 5112 - 5103 - 5093

MOST IMP LEVELS  -  5101

We don't advice to create any LONG POSITIONS at current levels, markets are trading ins  a stiff range bound trade, follow strict stop loss as per awaiting for DOLLAR INDEX for a pull back.

 

We would like to wish all the Pirates a very all the BEST.

Regards

Treasure Captain

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