24/02/2010 - Market cues & calls

Market opened weak and recovered smartly and traded flat to positive the whole day. Highs are used to take profits where traders looks caution ahead of budget and expiry.Metal and realty index gave good support for market whole day. Advance decline ratio was in favor of bears with 321 stocks advanced and 960 stocks declined. US and Europe markets closed negative followed by many Asian markets today morning. lets see some technical trigger today.

Yesterday remained full choppy session there is not much difference on technical side.4860 support was saved whole day and 4888 resistance cant be taken out. As said in yesterdays column nifty went near to 4895 mark where longers get trapped on Monday.If Nifty open near 4800 mark with 4790 as strict stop one can try a long for 4848 and 4868. Below 4780 one can boldly short nifty for 4758 and 4737 with 4804 as strict stop. As expiry tomorrow there we may witness some volatile moves from afternoon session. Trade safe with stop loss.

24/2/10 >>>>>>> NIFTY FUT BREAKOUT LEVELS 4843 AND 4903


Happy trading !!!!!!!!!!

Jay