The world's stock markets are rolling in green while NIFTY remain closed for two consecutive days (Aug 30 - 31, 2011). NIFTY saw a mild profit booking on Aug 29, 2011, in the wake of truncated trading session. The pertinent question on traders mind would be, on Sept 02 - will NIFTY open in green?
US and EURO markets are holding in anticipation of financial assistance from feds. EURO has opened in green today. It is likely that US would maintain its advance for today also, in which case NIFTY would fly away to 5100+ on Sept 02 opening. Reason being, most of the scripts are just about to cross and go above their 200 SMA(Simple Moving Average). If NIFTY opens with a gap up on Sept 02, then there is a likely hood of a sharp pullback on the back of short coverings.
Intraday prediction for Sept 02, 2011BUY LT CE1650 29-Sept-2011 series @ 35.25 TARGET 60.00BUY IDFC CE120 29-Sept-2011 @2.80 TARGET 4.00
No comments:
Post a Comment