Nifty opened near yesterday's close and zoomed to short level, fell duly to first target and then moved up and stayed in a narrow range. As a result, nifty has moved into a high resistance area.
Star of the day was HDIL who from the short level fell to almost to target 1.
A single lot of HDIL should have given readers well over 50,000 rupees.
For Friday trading
Bear Level
Short nifty future around 4370 with stoploss at 4388 for targets 4320, 4290, 4260
Bull Level
Nifty future crossing 4388 buy on retracment to 4375 with 4355 as stoploss for targets 4400, 4420, 4450.
Trouble Series : Tata motors
Tata motors is unable to pierce through huge resistance at 349.
For thursday trading
Short tata motors around 343 with stoploss at 350 for targets 322, 305, 290.
Note that because the future is in a huge discount, i have given spot levels. Futures traders should take confluence from spot levels to do this trade.
