Nifty Future for July 15 - Santosh Gundecha

As written in my report yesterday, Volatility is at its best. Bouts of buying and sudden selling are now being witnessed daily. For July 15, Nifty can take support at 3915>>3870. The resistance for the up move is at 3980 >>4010>>4045 and then at 4090--4100 .

We will open big gap down . This is what I have given in my astro-techno update yesterday. Nobody had expected market to open such a big gap down. I know many who have gone long overnight yesterday. Such behavior should be avoided.

Those who wish to trade Nifty futures can try to buy near supports given above, after the initial gap down. They can books profits at the resistances given or exit when momentum halts. Better use stoplosses and trail a position for maximum benefit.

These are the days of high volatility, so when one initiates a position, it should be closely watched and stops used judiciously without fail.

One can try to buy options in most beaten stocks, like Infosys or Satyam, during dips. Markets have a tendency to overreact. I will try to post some options calls during the day, when possible. Do not forget that stoplosses are important in options too.