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Tuesday, March 12, 2013

Nifty after a flattish day - Daily Morning Update!

Good morning. After a flattish day yesterday, where Nifty moved in just a 20 points range for 6.5 hours, today is looking like a better trending day. The question is which way the trend is headed! Let's find out.

As we mentioned yesterday morning in morning updates , 5960-5980 is a resistance level that remains. Nifty has to cross this Lakshman Rekha, and Nifty struggled throughout with this level. Today, the global markets are looking up, but with yesterday's rejection, Nifty might have started a downtrend already. Charts are pointing towards a possible downmove after a gap up start and that's a perfect recipe for some whipsaws.

Operators have already moved SGX-Nifty above 5960, and this is a trick they play often. Once the market faces a resistance here, they read the charts and do the opposite in SGX, because of low liquidity, large players can play the SGX-Nifty counter quite easily.

So SGX is giving the early indicator that Nifty has broken 5960. Lets see if that's truly the case. We will always go with the true trend and give you lot of profitable calls each day. Yesterday, on a flat 20 point range day, gave 7 profitable call bookings. Today seems to be another day with lot more opportunities.

Have a profitable day ahead.


  1. i wud like to know ur view on voltamp and genus power

  2. Hi Naren ,

    Please guide on MCX & effects of CTT on it. It has corrected more than 45% from its recent highs....Does CTT has going to be a very large impact on it or it is just an over reaction by the market. Should i accumulate more at current levels of 860.? Plz suggest


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