MTECHTIPS
Mtechtips NIFTY FUT intraday trading analysis 10-10-2012
nifty spot today closed at 5704 with gains of 29 points or +0.5%.today nifty spot hit low of 5677 while high was 5728.as we recommended yesterday nifty intraday call hit its stoploss with gap up opening but positional short call still open and for that stoploss is 5795. on intraday chart,nifty spot intraday resistances are 5770 and 5865 while on lower side intraday supports are 5695 and 5610.trend is up but momentum is bearish.in intraday news flow and global market volatility swinging market in minutes. on daily chart,nifty spot today closed above weekly level of 5690 which suggest reversal signal.
For intraday traders 5695 is moving support level
above this stay long for targets of 5750-5770
while positional traders hold there shorts with
stoploss of 5795 on closing basis and
keep target of 5470 intact.
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