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NIFTY-DEC F&O-2ND SHORTING TRADE OF 03-12-2010-TRADING

NIFTY(DEC FUT-SELL-POSITIONAL)SL-6036-TGT-5954-CMP-6023
NIFTY(DEC PUT OPTION-BUY-POSITIONAL)-S.P.FOR PUT-5900,6000,6100-NIFTY(DEC FUT)-RATES ARE FOR-SL-6036-TGT-5954 FOR ALL OPTIONS-CMP-6023

NIFTY-DEC F&O-1ST SHORTING TRADE OF 03-12-2010-COVERING

NIFTY DEC F & O(SHORTED TODAY)-COVER IMMEDIATELY-CMP-6020

NIFTY-DEC F&O-1ST SHORTING TRADE OF 03-12-2010-TRADE

NIFTY(DEC FUT-SELL-POSITIONAL)SL-6036-TGT-5954-CMP-5997
NIFTY(DEC PUT OPTION-BUY-POSITIONAL)-S.P.FOR PUT-5900,6000,6100-NIFTY(DEC FUT)-RATES ARE FOR-SL-6036-TGT-5954 FOR ALL OPTIONS-CMP-5997

Mid-Session Outlook(03-12-2010)

Nifty Hovering around yesterday last 45 minutes range(6005-6018) since opening today and sustaining beyond mentioned range will give following conclusions:-

1- Sustaining above 6015 will mean crossing strong resistance range and testing possibility of next resistance range(6080-6120) and 61.8% retracement level(6091)
2- Moving below 6005 will give first down move indication and sustaing below 5980 will give confirmation to temination of that pull back rally which started last Friday.

Intraday charts are not showing strength today.

Pre-Open Market Outlook(03-12-2010)

Nifty traded within 5980-6018 yesterday and intraday charts within narrow range moves are showing consolidations patterns. Yesterday intraday charts of many other pivotal stocks are also showing buying formations.Nifty traded within 6005-6018 in last 45 minutes and intraday patterns of this period are signalling selling therefore sustaining above 6015 has to be watched for next up move confirmations. Next resistance ranges are as follows and its testing is possible after sustaining above 6015:-

1- 6080-6120
2- 6180-6195
3- 6250-6320

Pull back rally started from 5690 and its Fibonacci Retracement levels are as follows:-

13.0%- 5774
23.6%- 5843
27.0%- 5865
38.2%- 5937
50.0%- 6014
61.8%- 6091
70.7%- 6148
76.4%- 6185
78.6%- 6200
88.6%- 6265

50% retracement has been completed and next level 61.8%(6091) will be crucial because it is within next resistance range. Global markets are positive,sentiment is good today morning and sustaining above 6015 today will give confermation to sharp up move toward next resistance range. It should be kept in mind that complete distribution patterns require for begining of down move and until that will not be visible minimum within intraday charts till then any down move will not be considered.

Next up move confirmation point for today is sustaining above 6015 and next move confirmation range is 6982-6018. Intraday charts of first 2/3 hours will give confirmations to next moves and and according to that today closing and next moves will be decided.

Mid-Session Outlook-3(02-12-2010)

Market slipped from higher levels after minor profit booking. Volatality is also possible after inflation data today. As good consolidations in previous sessions therefore finally sustaining above 6015 possibility is high.

Nifty is trading within strong resistance range(5975-6015) and its break out and sustaining beyond should be watched for next move confirmations.

Pre-Open Market Outlook(02-12-2010)

I was out of station for the last 3 days therefore could not post my outlooks but before leaving I projected following conclusions in my weekly on 27-11-2010(Saturday) that:-

1- I told that "Pull Back Rally is on Cards"
2- I Posted 4 charts to proove pull back rally.
3- I Posted 7 strong reasons for pull back rally.
4- I told that "As per my view Nifty will not sustain below 5700 and minimum a pull back rally will be seen"
5- I told that "pull back rally will be seen. Expecting completion of correction and begining of fresh rally in the coming week"

214 Nifty points rally seen in last 3 sessions. Last strong resistance range is 5935-6015 and Nifty traded within 5935-5965 yesterday. Global markets blasting therefore sentiment strong today morning and if Nifty sutiuns above 6015 then it will be strong confirmation of Intermediate term trend turning upward and continuation of pull back rally.

Sentiment heated today morning and profit booking possibility can not be ruled out. Intraday charts of yesterday are showing good consolidations and sustaining above 6015 possibility is high as well as positive closing after gap up opening will be seen today.
Only this line is adding that today intraday charts are suggesting consolidations and no harm to uptrend which started last Friday.

As lack of time therefore posting only this conclusion.

Blog will be regularly updated from Thursday morning. Sorry for inconvience.