Opening bell for 11/10/2013

Good Morning !! Yesterday NIFTY moved exactly as per our Opening Bell (scenario - 1). Today's price action may decide about the direction for coming weeks.

If we look closely at 30 min chart then there is enough evidence for some upmove in NIFTY.
A) Positive Divergence
B) Oversold CCI
C) Buying Cross in MACD

But daily chart is not looking bullish. -ve Divergences in indicators are suggesting possibility of downward movement.

It may be concluded that Intraday basis we may get opportunity to buy but higher levels should be used to sell for positional trade. It is highly possible that we may get Hanging Man candle in weekly closing.

5980 is important level for Nifty. on the higher side 5980/5995/6010/6030 are the levels to watch out. Whereas on the lower side, 5945/5930/5905 are the levels to watch out.

NP-SAR OF 11/01/2013: 5981

Wish you happy trading !!!

Opening Bell for 10/01/2013

Good Morning !! Yesterday, in our opening bell we observed, "First hour we may see some range bound moves before breaking out in either direction. It is highly probable that NIFTY may break yesterday's low." Nifty exactly moved as per our opening bell.

Today, NIFTY may open flat to positive. Two scenarios are possible. 
1. After opening, NIFTY may resist at 5985-5995 zone and fall again to the level of 5940-5950 before a final pullback around 5960-5970 level.
2. After opening positive NIFTY may fill opening gap and move within 20-25 points range. 

It is highly probable that we may see 5940-5950 level which would be good buying zone with small SL. 

NP-SAR of 10/01/2013: 5986

Buy :ULTRACEMCO above 1970 SL 1957 target 1985/2000 and above.

Wish you happy trading !!!