NIFTY PLAY FIELD FOR 9TH FEBRUARY 2010 AND NIFTY AND STOCKS FUTURES CALLS

February 8, 2010 by beatdstreet ,    Contact beatdstreet
Filed under: Stock Trading  267 views


Nifty after hitting a high of 4763 on the futures retraced and not only surrendered the early gains, it went on to slip and almost kissed the 200DMA. After a bitter battle, nifty gradually broke free from its shackles and gradually inched ahead to hit a new high of 4806. However, with the Fibonacci looming large @ 4818 it quietly slid back to a close of 4764 on the nifty futures. A close below 4760 would have signaled that the bulls made merry while the bears were busy with their lunch. However, a close above 4760 was a sign that all is not well in the bear camp and we might see a northward move tomorrow which could take us close to 4860-4880 levels.
Obviously, living in a global village today, the Dow, Hang Seng, Shanghai and the close of the European markets will make their presence felt in the early morning trade tomorrow. However, if today’s low holds, we may see some very sharp up move on the nifty tomorrow.

Nifty Call for 9th February 2010
Buy Nifty above 4730 tgt 4803-4840. If stays abv 4855 for 4-5 mins then extended tgts are 4880-4918 sl 4686
Sell Nifty below 4800 tgt 4730-4690 If stays below 4670 for 4-5 mins then extended tgt is 4620

Futures Calls for 9th February 2010
Buy Century Textiles Fut abv 477 tgt 489-495 sl 468.75
Sell Century Textiles Fut below 489 tgt 477-471 sl 497

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