11AM...Nifty Futures opened today at 4265 against its previous close of 4224, and is currently trading at 4310. It has so far recorded a HIGH of 4324 & a LOW of 4256. Asian cues are positive, US future are in red after robust gains of US markets for the last 3 days, and European markets too are likely to open in positive eying the expected positive results of US banks today. Week end considerations cannot be ignored today. Nifty is likely to post good gains today in the first half of the session, and lose most of the gains in the second half, and close today between 4240-4260. NF is likely to trade in the range of 4230-4340 today.
Nifty Futures Closing Report
Nifty Futures closed today at day's high at 4398, up 174 points, after touching a high of 4399. Morning low of 4256 remained the low of the day.
NIFTY OUTLOOK
Nifty had a highly bullish trade today, adding another century of daily gains, closing the day at 4374, ip 143 points. FIIs net bought 142cr & DIIs net bought 535cr. Nifty, having closed comfortably above its resistance of 4280, is now all set to complete the formality of covering the post budget fall to surpass the 6th July intraday high of 4479 during the next week.
Nifty levels for 20.07.09 Monday are: PIVOT 4332, R1 4433 & R2 4492, S1 4273 & S2 4171.
Dear Sir,
ReplyDeleteNot sure if you remember me... I am a big fan of yours and religiously track your 11 AM report on MMB. But from last 2 days i didnt find any intra day nifty calls, any serious reason for the same Sir?? I am Short at 4300 levels this morning Sir... Please help...
Thanks,
Avinash
sir i think most of us are now holding shorts in nifty including me after reading your view. now wating for your reply
ReplyDeleteSir, I am also able to open your new blog. It is nice one. Now eagerly waiting for your weekly report.
ReplyDeletePlease continue to give your valuable advice.
Regards...Krishnan
Dear Avinash & gaurav,
ReplyDeleteI usually give a call for NF trading only if there is a possibility of gaining 50 points a day with enough cushion. If you take a trading position based on my 11AM report, it will help you no doubt to independently trade in future but taking a trade without a stop loss is absolutely wrong. I would have been happy if both of you had taken the short above 4340 with a stop loss of say 4375 & lost 30 points on Friday instead of holding on to the short overnight, which you know well that I am totally against after the bitter experience of April/May. Anyway, Monday you will get a level of 4340-4350 to book the loss, or if you are prepared to bear the MTM loss, you may even get a level of 4260 any day during next week. It is better to get out at the first available opportunity even at a loss. Rgrds.
sir i am holding puts 4300 and 4400 at 105& 111 pls advise now what should i do
ReplyDeleteToday tip for nifty
ReplyDeleteBUY NIFTY FUTURES ABOVE 6390 TG-6405/6425/6450 SL-6360
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