NIFTY SPOT WEEKLY LEVEL & TRADING STRATERGY - 30/08/2010>>

AS PER OUR ADVISORY POSTED ON 25AUG2010 NIFTY CAME UNDER SELLING PRESSURE & CLOSED @ 5408.70..SO WHAT NEXT ?? THERE ARE LOTS OF THINGS RUNNING IN TRADERS MIND ...STILL DEEPER CUT OR A PULL BACK ?? YES OF COURSE WE STILL HAVE TO WITNESS A SELL OFF IN NIFTY BUT BEFORE THAT WE ASSUME NIFTY MIGHT SHOW AS THOUGH ITS TAKEN A SUPPORT OR AS PER TECHNICAL INDICATORS THE LOSING STREAK HAS TO BE HALTED FOR SOME TIME BEFORE THE NEXT SELL OFF....
                       TRADING STRATEGY : WE ADVICE OUR TRADERS TO WAIT N WATCH UN TILL NIFTY SPOT TESTS 5452 FROM CURRENT LEVELS WHERE IT MIGHT FACE A RESISTANCE OR A BREAK OUT FROM 5452 WILL TAKE NIFTY TO 5489.50 (STRONG RESISTANCE & BEST SHORT LEVEL) WHERE TRADERS NEED TO TAKE A SELL CALL KEEPING IN MIND A TARGET OF 5331.65/5294.50.. 


***REVERSE TRADING LEVELS : SELLING STOP LOSS SHOULD BE KEPT[@ 5526.5] A BREAK OUT ABOVE THAT TRADERS ARE ADVISED TO REVERSE THEIR TRADE FOR A TARGET OF 5610/5646..
           CMP-5408.70

LONG TRADE		SHORT TRADE
BEST BUY LEVEL		BEST SHORT LEVEL
5452.0		5489.50
BUY TARGETS		SHORT TARGETS
T1 = 5610.10		T1 = 5331.65
T2 = 5647.35		T2 = 5294.50