Monday, August 15, 2011

Weekly view 16/08/2011

Last week we have seen very volatile movement in market, Nifty moved in 4950-5200 range. Nifty seems to be stuck up in this range, Volumes also increased. In options front, total put and calls positions are equal and volatility is coming down. We can say both bull and bear force are equal.
Open Interest in Future segment has increased last Friday. Its looking like some short position has build, traders must be looking more downside in market, Nifty can touch 4800 if it breaks 4950 and short covering can take Nifty to 5355 and 5450 level if it breaks upper band 5200 on closing basis.

Delta Corp is showing strength, one can take long position in Delta Corp above 100.50 with strict stop loss below 99 for short term target 104.85 and medium term target 110.

Happy Trading ....

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