01-12-2008 Views

Hi, The year 2008 is going to end. From Jan2008 high we have come down to say-50% level in most of the stocks. The terror attack has brought out OUR INDIA feelings among us. On the last day of November2008 FIIs did some buying. Nifty also closed up compared to previous day. This we can take as positive sign. Nifty closed above 34EMA at2755 as on EODchart.If Nifty goes up above 2780 we can see some upward. IF nifty cannot move up then it may come down to 2500 and below. Nifty has good support at 2700 below 2755 and resistance of 2860 above 2780 level. Investors can safely buy 2700 call and 2700 Put and watch for this week . IF the straddle is on profit it is better to book profit and re enter since the time matures the value of the premium reduces. Disclaimer: Please take trading position based on your own analysis. The suggestion given above may not yield profit and the author is not responsible for any loss.