Ist Target Achieved in Short NIFTY 5400 Call Dec Expiry given on 25 Nov 2010

NIFTY 5400 Call Dec Expiry Rocks Today, Short Call Given @ Rs. 458 - 480 (according to Risk Level), Stop Loss Rs. 525, Targets Rs. 410 - 365 - 300 on 25 Nov 2010


Today on 26 Nov 2010 


High was Rs. 474.50
Low was Rs. 375.05 near the IInd Target
Closing Price Rs. 401.50


So the Mark to Market Profit is = 458 - 401.50 = +56.50 Points Per Lot
Or,
Mark to Market Profit = 50 * +56.50 Points = Rs. 2825 Per Lot


So Ist Target achieved which was Rs. 410. Wait for the next Targets or below level in next week. 


The major Support was 5723.23 which I had suggested yesterday and NIFTY broke this support today and made a low level of 5690.35.


So on the basis of Major Support the next Major Support is 5556.31 on NIFTY Spot basis.


The Trading Support was 5751.03 and 5702.31 which i had suggested yesterday and NIFTY broke all these levels and made low of 5690.35.


So the next Trading Support level is 5624.28.


Note:- Be Cautious in any Long Position in NIFTY Fut with Strict Stop Loss. But there is a good Buying opportunity from Stock Point of view. Buy those stocks which have bottom out like as Unitec, Punjloyd, Deltacorp, HDIL, CoreProject, HCC etc. Do not involve your all money in at the present level. Buying relevant quantity. Market will give more buying opportunity at low level.