"17th Aug was an amazing day for short sellers" as predicted by me. And, NIFTY breached the levels of 4410-4420 as expected, there was enormous selling pressure coming due to heavy selling by local investors. RELIANCE was badly hit by selling that touched an INTRA day low of 1925. We are expecting markets to open in green around the levels of 4397-4410. Traders must trade with strict stoploss and move will be stocks specific. NIFTY is close to multiple supports 4347 and then major support at 4332 -4327, once this level is breached decisively we could see the NIFTY at 4272. Small investors would remain cautious , however I would bet on short selling in IFCI and buying in SATYAMCOMP @ 99.90 with an stoploss of 99.65 and TARGET @101.25.Supports: 4380, 4347, 4332 -4327, 4272 and 4222.
Resistance at higher levels: 4397, 4420, 4441 and 4500 (not expecting to touch any).
Yesterday's Snapshot :
Intrday Nifty low : 4374.60
Intrday Nifty high : 4578.80
Close : 4387.90
Hot pics : (Intra Day)
Short Sell IFCI @ 48.35-48.65 and stop loss @ 48.90 TARGET 46.80 .
Buy SATYAMCOMP @ 99.95-100.25 and stop loss @ 99.65 TARGET 101.25.
NOTE:
- Don't be greedy while trading , STRICT Warning .
- Sources http://www.nseindia.com/ .
- These are just predictions , nobody can challenge us.
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