TRADING DAIRY FOR 15/05/2009

14/05/2009

• Today VIX close at 51.25 V/s 50.73 (1.037%) High Volatility

• Nifty May Future Close At 3603..65 With 10 Pts Prem.

·         Also OI Increased 1.05 Vs -5.14 % while june oi increased by 18% V/s 15 %

·         Active calls in May series are 3700-3800-3600 (most active)

·         Active puts in May series are 3500-3600-3300 (most active)

          SUMMARY FROM THE ABOVE DETAILS.

• Maximum target for this rally is 2860 – 2890 – 2930-2958-3005-3082 -3166 – 3200 -3240 – 3312 – 3450 --3500-3590-3680-3700-3790

• Targets Achieved On Closing Basis Pending Tgt Are Unhilighted. (+) Or (-) 20 Pts
• Market Has Close Again Below The Trend Line With Hanging Man Candle In The Daily Graph Which Indicates Bearishness But Still In The Rectangle Also Today High Is Not Even Equal To Yesterdays Close Levels Tomorrow Is Weekly Close Which Should Be Above 3625 Levels For Further Uptrend But As On 16^th Election Results Shall Be Announce And The Mkt May React Accordingly On Monday May Be 5-10 % Gap Up Or Gap Down No Indications Are Clear So Please Do Not Keep Overnight Position And If Your Trade Is In Profit Book It And Trade Accordingly After The Rectangular Breakout Of 3480-3720. Please Avoid Even Intraday Trades. (No Trade Zone)

·        STILL THE TOP OF THE RALLY REMAINS 3790-3800 LEVELS BEFORE ELECTION AND CLOSE ABOVE 3800 CAN RALLY ABOVE 4000-4200 LEVELS CLOSE BELOW 3480 ONLY CAN SLIDE FURTHER DOWNSIDE UNLESS THIS HAPPENS IT IS BUY ON INTRADAY DIPS AND SELL ON RISE .

·        Note : Still Overnight Position Is Not Advisable.

• LEVEL FOR THE DAY

• TECHNICAL OUTLOOK :
• Imp Support 3570, Imp Resistance 3620
• ,

• Likely Trading Range 3540 - 3650,

• Trade on long Above 3573 and Vice versa

• Note :- Please don’t use this levels when gap up or gap down. Also either side band is breached shall show breakout in either direction, and close above / below the intra band shall continue with the same trend for next day and can continue for for BTST OR STBT.