Thursday, November 24, 2011

Trader Guide for 24-Nov-2011

KST
Nifty Futures 5 min


Nifty Futures 60 min


Nifty Futures EOD


Pivot



India VIX


 


Nifty Futures closed at 4703.80 near pivot and below averages indicates market is very weak after gap down Nifty tried to gain but unable to close with strong gains and today India VIX again closed with huge gains of 12.18% indicates we are ready for high volatile end of this month, high volatility always supports bears and now  50 DMA acting as support on VIX,  if we note this all we may see bearish mood on market is visible, Nifty may try to take support from 4632 and 4561 on down side and upside may test resistance of 4774 and 4845 and selling may possible if Nifty reached resistance zone. On Nifty Charts, on Hourly Chart KST Indicator is holding buy it seems limited and may get erased if we see gap down in morning otherwise we may see small gains on Nifty, but here at this stage try to avoid long side trade, wait for rise and sell from high, it may be best trade idea now, On Daily chart KST Indicator is still on oversold zone and gaining strength on down side  and till now no sign of reversal is visible so we can sell on every rise...

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