Nfty analysis for 14.08.2012

Nifty future today according to me has given a fresh breakout after 3 days of consolidation.

Now watch 5400 on nifty future closely, successful closing above this level will take it to 5450-5500-5530.

Levels are same for tomorrow:

For very short term :

Support  at: 5335-5320-5308-5290-5270

Resistance at : 5365-5385-5400-5429


For medium term : 

Support : 5270-5240-5210

Resistance : 5400-5430-5450-5490-5520

Below is the daily chart of Nifty future:

NOTE: Today Given positional buy call in FEDERAL BANK at 428 level, hold it for price target of 440 in 3-4 days or maybe tomorrow itself.

EXIDE is likely to achieve its target close to 135 in 2-3 days.

SBI ratio put strategy is in profit of around 1600/-, hold for more gains, will tell if and when we need to exit.

IMPORTANT ABOUT INTRADAY CALLS: I would like to request all the followers to not wait for my guidance for intraday calls. As the levels i give are final, just wait for the levels and then take trade at given level only and not below or above given trigger level. Strictly follow levels and once you are in profit then start trailing your stop loss.Always remember wait patiently to enter a trade, the more you wait for a trade to setup, the more likely it is to be in profit.

Thank you
RANVIR SINGH