News Letter for 7th July

http://mytradingtechnique-mysar.blogspot.com/

Nifty (spot) strong above 5640

Nifty (spot) weak below 5620

Nifty (spot) Support  5610/5580

Nifty (spot) Resistance  5650/5680

During the last 6 trading sessions Nifty has been trading in a very tight range of 60-80 points only. It has moved up by nearly 450-475 points during 4-5 days before this stagnant move. Multiple negative divergences have been developed in the charts indicating possible downward move to 5550-5475. But bulls do not find any major negative trigger and hence are not giving ground to bears. At present Nifty has minor support at 5610-5605 and on the breach of this support Nifty may lose 50-60 points within next sessions to come. Of course, if Nifty can cross 5680 decisively, it may move up to 5750 or more.

Bata in future Buy above 621…for 628/633/638…sl 614

HDL in future Sell below 162…for 159/157…sl 165

HeroHonda in future Sell below 1840….for 1828/1818/1808/1800…sl 1860

Biocon in future Buy above 368…for 373/377…sl 364

TataPower in future Sell below 1291…for 1282/1272/1264…sl 1300

Saskan in cash above 151 may target 154/159…sl 147

Nesco in cash strong resistance at 656….may target at 732…within few days…keep sl 627. Strictly for positional traders

Zyduswell in cash strong resistance at 720..may target at 785…within few days…keep sl 704…Strictly for positional traders