ONCE AGAIN WE SUCCEED

JAY SWAMINARAYAN

We said last week  “  Nifty should be close in green this week.  and we suggested Strategy:    [1] Open your long if nifty come near 4670 with strict stop loss 4580 for tgt 4850 – 4940 or open your long at current level if nifty turn up from this level with strict sl 4670 for tgt 4850 – 4940.    [2] Open your short if nifty come near 5030 in this week or next week with strict stop loss 5120 for tgt 4940 – 4850.  “  

Nifty traded expected. Nifty Opened with gape up and remained strong during entire week and closed in green at 5001 as per our expected monthly close between 5000 – 5100 with 292 points gained.

Ø  Remember from last 3 weeks we said “Nifty will be giving monthly close between 5000 – 5100 this statement is not about month expiry. We continue with this statement. “

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                                                     Our 3 Statements

Ø  [1]  We said on 14-8-11 Weekly Review when Nifty closed at 5072  “  Nifty Will Be Give Monthly Close Between 5000 – 5100. 

Ø  [2]  We said on 21-8-11 Weekly Review when Nifty closed at 4845  “  Nifty Will Be Give Monthly Close Between 5000 – 5100. This Statement Is Not About Month Expiry.  We continue with this statement  “  . 

Ø  [3]  We said on 28-8-11 Weekly Review when Nifty closed at 4747  “  “Nifty will be give monthly close between 5000 – 5100 “this statement is not about month expiry. we continue with this statement  “

Remember that time more than 15 days remained for the monthly closing, world market & domestic market clue was totally negative.  Nifty was fallen straight away from 5700 level and there are always be chance to falling more or bounce back from this level.

At 28-8-11 Nifty closed at 4747 and only 2 days remained for the Monthly closing. In such scenario we continue with our statement and you saw in 2 days nifty gained more than 250 points and give monthly close exactly at 5001 between our expectations 5000 – 5100

                                           For This Week

We expect in this week Nifty have a strong resistance at 5120. Below 5030 Nifty will be traded with negative bias and heading towards 4940 – 4850. But once Nifty sustain above 5120 and get success to close above it than  5210 - 5260 is next target for it. This  week Nifty should  find 1^st Sup between 5030 – 4940 & 2^nd   Sup between 4900 – 4850 and find 1^st Res between 5080 – 5120 & 2^nd Res between 5210 – 5260.

Strategy:

[1] Open your short near 5030 in this week with strict stop loss 5120 for tgt 4940 – 4850.

      [ 60 % Probability ]                 

[2] Open your long if Nifty sustains above 5120 for 2 days with strict sl 5030 for tgt 5210 – 5260.  [ 40 % Probability ]

NIFTY :: OP = 4806.20 , HI = 5113.70 , LO = 4806.05 , CL = 5040.