NIFTY OUTLOOK ON 30 JUNE

Nifty has closed above 5600 on Wednesday but not breached a resistance level so far.Today nifty may open above 5600 level ,If nifty will sustain 5600 and closes above these resistance area then nifty will taste 5700 level in next few days.Due to expiry of June series market may more volatile today expiry of June series may be in between 5600 -5650  levels.Option strategy for today buy 5600 CE and  5700 PUT in June series.

Silver Update

Silver has broken it's major uptrend on 26 June 2011 on mcx. Now silver is looking more bearish, it has other major support on Rs 50000 level, it is a technical and psychological support for June future. If silver will close under 50000 level for 2-3 days, then silver will come near 42000 in few months. Silver has recorded lower volume in last 5 days in U.S. ,So next major move will appear in august contract on mcx. Next resistance level for silver is 53300 and major resistance is 53900. Trading strategy for next two days - buy silver near 50500 sl 50000(closing basis) target 51700 for current contract. for any query call 918808942638