Opening Bell for 03/12/12

Good Morning !!! Nifty may open flat to positive. Positive bias may remain for the day although some profit booking is expected at higher level. 5910 and 5850 are two important levels for the day.

SELLING should be executed near 5910 with 5940 SL for target of 5880/5850/5820

BUYING should be executed near 5850 with 5820 SL for target of 5880/5910/5930

Nifty Weekly Wrap 30-11-2012

This week NIFTY saw breakout in price supported by huge volume. Those who follow our NiftyPulse Page and Marketpulse S&P Group in Facebook are well prepared for this decent up-move not only in NIFTY but also in stocks like LT, SBIN, IDFC, IDBI, RELINFRA and many more.

Now the important question that comes in our mind, is the euphoric up-move in NIFTY strong enough to last long?

If yes, then what should be the target for the up-move?

After 7 weeks of consolidation, NIFTY broken out of channel. This up-move is going to stay for few weeks more although at higher level it may show some weakness.

The major resistance levels are highlighted with thin red lines (see candle stick chart). Nifty will correct in short T/F and those levels should be used to Buy. We suggest to book part profit at regular interval.

Buy the dip and book profit at high should be the strategy for the week. Do not short until chart shows clear reversal sign.

Important levels at higher side are 5910/5930/5950/5980/6045/6080/6145

Stay connected for profitable trade set-up.

Wish you happy trading!!!