Now, one may say that sideways markets are good for traders, but I have my doubts on how a leveraged trader managed this move, which spiked up and down five per cent randomly. Correctives, as we know are known for their dirty overlapping structures. We have mentioned about sleeping assets, how there are times when assets from certain groups go to sleep. This sleepy Nifty action was rare and required a new approach for investing or trading.
Nifty Futures Outlook December 5 2011
Nifty has strong support at 4,930 levels. Sustaining above the levels of 4,930 will be positive for the markets, in that case will be exposed to higher resistance of 5,170 and 5,400. Bias remains positive above 4,930. Bearishness can prevail below 4,930 for lower levels of 4810 and 4,750 levels. Autos and IT will remain in lime light.
In the week ahead, in Europe, the French President will see the German Chancellor in Paris on Monday - ahead of Wednesday`s summit of all European leaders in Brussels. The Euro-zone leaders are striving to avoid any kind of economic collapse. Market participants would keenly watch for the outcome of the meeting. Back at home, correction in USDINR triggered equity rise. USDINR has key supports at 51, which means another 0.5% drop from current levels. In the next week, Nifty could see a rise to its resistance of 5,130-5,175 levels. However, any jump in USDINR rates could result in profit booking in the equitiesFor the latest updates on the stock market, visit nifty-futures-tips.blogspot.com
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Day trading attempts to profit from short-term movements in the price of financial assets, fundamental factors relating to earnings and financials have very little bearing on success. Most retail day traders use some form of technical analysis to make trade decisions. Thanks a lot.
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