Nifty, Bank Nifty Trading View - December 26, 2012 - Karvy

The US markets were closed yesterday, while Asian markets are currently trading in the green. Hence, Nifty is expected to open positive as indicated by SGX Nifty.

Trade long in the Nifty above 5870 with stop loss placed at 5850 for targets of 5900 and 5930. Alternatively, trade short if the Nifty slips below 5850 levels targeting 5830 levels.

Nifty Options: Sell Nifty Jan 6000 CE @ 66-68; stop loss: 5930 (spot); Targets: 36-38, TF: 5-7 days.

The Bank Nifty ended on a flat note, gaining 0.02% in Monday's trade. On the F&O front, the Index shed 2.52% in open interest on the back of rise in cost-of-carry from 15.96% to 21.38%. The index ended flat on account of lack of triggers. Going forward it is expected to face resistance around the 12450 level. For the day, trade short on the Index if it sustains below 12350 levels for targets of 12200 and 12100 levels.

Source : Equity Bulls

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