Yesterday our intra trade of NIFTY has given few points although it did not hit any target. Today, all important level is previous high of 5965. A daily closing above 5970, will open new area of trading for NIFTY whereas it may give decent correction if it fails to close above 5970.
Two possible scenario may develop intraday basis.
1. Open around 5965 and trading above it, making new high
2. Open around 5965 and come down immediately and trading within few points whole day and correcting the Oversold condition in short T/F.
Two possible scenario may develop intraday basis.
1. Open around 5965 and trading above it, making new high
2. Open around 5965 and come down immediately and trading within few points whole day and correcting the Oversold condition in short T/F.
NP-SAR FOR 2/1/2013: 5900
Buy NIFTY above 5970 SL 5950 target 5990/6020
Sell NIFTY below 5950 SL 5970 target 5930/5905
Wish you happy trading !!!
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