4/4/11 NIfty game plan

After 8 days of run bulls took some rest on Friday where Index closed marginally down , where nifty futures closed more than 30 points premium. It suggest big funds managing Index with selective stocks to trade. So lets see how the day will be.


Rising oil is always a problem for Equity markets. India is more vulnerable to oil moves. So cautious approach need if Oil trades above 110 $ .

Day looks like one more range bound . 5873 Is the key level. Above that buyers and below that sellers will dominate. Selling visible @ higher levels. Will advise longs to book at current levels and wait for a dip or breakout to trade again. Option writers may have upper hand using these range bound scenario very well. Many stocks looks great on charts for short term, try to concentrate on those scrips.




Jay

Happy trading !!!