Nifty Weekly Outlook and Trading Strategy 02-06 Jan 2012

For the next trading week 02-06 Jan'12, Nifty is likely to remain positive and may trade in the range of 4,525 and 4,850. For the week Nifty is having important resistance level at 4,750 on a close basis. Trading above this level may attract short covering in the market and in that case markets can extend its ride minimum to the level of 4,900 and maximum 5,000 on higher side. While contradictory closing below the level of 4550 will be the first alarm to bulls and further slippage below 4,500 will be hard landing on the bulls, selloff can extend to the tune of below 4,500 level.

Intraday Nifty Trading Tips : 02-January 2012
Traders are recommended to trade long in Nifty from lower support zone at 4,600 for targets of 4,650 - 4,680+ with a stop loss placed below 4,572.

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