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DERIVATIVES RESEARCH (10 June 2011)
NIFTY JUNE FUTURES- Giving due regard to the looming threat of the rising crude oil prices and the nifty futures swooping down steadily thereby going below 5500 levels. However, the interest rates and reduced inflation may give it some respite but the rising Brent crude oil prices already hovering above 100$ a barrel may hit the markets hard to fall below 5500 levels in today’ session. Moreover, the breakout from the head and shoulders pattern is expected to bring the NIFTY down to 5487 levels in the forthcoming sessions.
It is recommended to go SHORT in NIFTY JUNE FUTURES with an entry and exit levels of 5511 to 5480 levels in today’s session with a stop loss at 5528 on the top.
It is recommended to go SHORT in NIFTY JUNE FUTURES with an entry and exit levels of 5511 to 5480 levels in today’s session with a stop loss at 5528 on the top.
Disclaimer -These calls are based on the theory of technical analysis and personal observations and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. Readers of this column who buy or sell securities based on the information in this column are solely responsible for their actions and profit or loss. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment. We are trying to consider the fundamental validity of stocks as far as possible, but Stock market is highly unpredictable and demand and supply affects it. And author won't be liable or responsible for any legal or financial losses made by anyone.
