NIFTY TIPS FOR 20 JUN 2012

First target achieved in Nifty future call given , in our last post http://niftytipsniftylevels.blogspot.in/2012/06/nifty-tips-for-19-jun-2012.html#more

Index  moved into positive zone after a lower start triggered by weak Asian stocks. The market reversed initial gains in morning trade as euro-zone debt worries weighed on sentiment ,but  regained positive zone  in after noon trade.

 The market surged to hit fresh intraday high in afternoon trade as European stocks rose in early trade there. A bout of volatility was witnessed as index  regained strength after erasing entire intraday gains in afternoon trade ,to hit intraday high in late trade.

TIPS FOR 20 JUN 2012

BUY ITC FUTURE ABOVE 250 TG 255,258,262 SL 245

 Nifty to show its first signs of recovery, it needs to cross 5110 as  long as that does not happen on sustainable basis for any significant period of time (say, an hour or so), all minor rallies would be an invitation to the bears to press sales again. index needs to cross the level of 5140  decisively before making further strides on the way up.
Considering the risk on into the system, the Nifty could rally up 5,200 where it has many other hurdles to cross,”

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Resistance 1	5130	Support 1	5060
Resistance 2	5170	Support 2	5020
Resistance 3	5200	Support 3	4960