For 29 Nov 2010

Highly oversold position of NIFTY will take it in between 5840 to 5945.Both points are major resistance.If not crossing 5840 nifty may touch 5557 level-of course this is in broder sence-in trading point of view 5840 and 5690 are the levels to be watched.
Looking at oversold situation one may initiate long position but tgt would be 5840 only.But though oversold one must be very catious as this condition may exist for few trading sessions with trading range of 5690 to 5840.

For 25 Nov 2010

Faling wedge if supported at 5818/5790 then there may be very very smart recovery....
It is BULLISH pattern....I have shown also FIBONACCI RETRACEMENT there...If supprted at the given area then the journey will be accordingly...and the ultimate tgt will be 6240..
There are other things to considere which signals NIFTY will show new high again ...But about that will discuss later...
If today closed above 5912 then it is a sing of pause/stop for this fall....
STRATEGY...
1....Go long if nifty spot open or trade near 5865/5835 with sl 5818/5790...
2....Cover longs at/near 5910..
3....If NIFTY spot opens above 5896 then also go long with sl 5865..and cover it at/near 5944
4....NO SHORTS TODAY

For 24 Nov 2010

Nifty spot AT 5935..keep sl of 5912 and go long....

Now buy SBI DEC 3100 ce at 66 to 68..sl...50....tgt....120/155/more

AT 12.19 PM

Now if spot nifty doesn't breaks 5952 in next one hour then very fast upward move expected......

At 1.20 pm...

If nifty spot crosses 5954 in next 15 minutes then new high for intra....