Wednesday, September 7, 2011

market view for sept 8 2011

potato made a down circuit yesterday, Any queries in mcx u can mail to info@mcxindia.com , the response was immediate they called me up down to bangalore to explain against the expiry of potato on 15th sept contract you can trade till 5pm on 15th but if there is any pending then it goes to delivery.

  • yesterday US made a dramatic recovery but hangseng is showing down as those factors are already factored in.. Strong resistance is present in 5200 levels of nifty ( rememer twice it touched at 5200 before going up and as it is broken it naturally acts as a strong resistance point ) option sellers comfortably sell 5200 call ;
  • Yesterday if u have observed, bank nifty was strong compared to nifty, in such scenarios it is always advisable to buy the strong counter in this case bank nifty rather than nifty as the return is higher in case of bank nifty
OPEN INTEREST: Highest built on 4700 put and 5200 call market is expected within this range

Put Call Ratio : 1.488
EMA(5) : 5046

PSAR defalt 4086
Advances to declines 1093 to 333

NIFTY :
ABOVE 5155 ONLY BUYERS ZONE
BELOW 5075 ONLY SELLERS ZONE
INDECISIVE BULLISH ZONE 5135 TO 5155
INDECISVE BEARISH ZONE  5075 TO 5105
MARKET RANGE 5105 TO 5135







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