Nifty Update - 13th Aug 2012

Nifty Cash daily charts above

No breakout or breakdown as of friday. Time to keep eye on levels for either side trade.

Long only above 5380 and short only below 5260. In btw both levels, market will consolidate and time for traders to be stock specific.

Nifty Update - 10th Aug 2012

Nifty spot daily chart shown above

As mentioned by us, time to be cautious and book your longs on 8th Aug 2012.

No change in situation, market seems to trade sideways or consolidate before any move.

Below 5270 is  weak and above 5380 market is strong. Trade accordingly.

Nifty Update - 9th Aug 2012

Nifty Cash daily chart above

As mentioned yesterday, profit booking around 5360 - 5380 is recommended. Market saw high of 5377 (April'12 swing high) and then dipped to close flat.

Let us wait and watch before taking any positions. All long positions should be closed.

Keep eye on specfic stocks for today and 2morro

Nifty Update - 8th Aug 2012

Nifty cash daily charts shown above

Nifty has moved nicely in last few days. It is coming close to the resistance levels.

Traders or long holders are advised to book some profit around 5360 - 5380 levels.