20 June 2012

NIFTY TIPS FOR 21 JUN 2012

 A highly volatile session ends with gain  following yesterday sharp decline. Today nifty opens flat and remain highly volatile for the entire trading session where it tested day-high of 5136 and day-low of 5105, at the end nifty closed at 5120 level with gain. In coming session volatility is likely to continue until market decides its new direction.
TATASTEEL call given in our NIFTY TIPS made a high of Rs.13.40 today.
INTRADAY TIPS FOR 21 JUN 2012
BUY NIFTY 5100 CALL ABOVE 75 TG `100 ,125, 140 SL 60
SELL DLF FUTURE BELOW 185 TG 184, 181, 178.
BUY JP ASSOCIATES FUTURE ABOVE 72 TG 74 ,77, 80
We need to monitor the Nifty’s performance above the 5100-mark......
Immediately, on opening, we ought to observe if the index manages to get past the crucial supply zone between 5140-5160—this range and its supply pressure is the first test of the fresh bullish momentum we saw during yesterday late session. If that is also cleared decisively then  Nifty will  hold its short term uptrend and consolidating where 5200 is immediate resistance.
If profit booking were to come in at any juncture, watch out for the levels between 5095 and 5089. So long as you see that the Nifty refuses to go below this zone read that as a sign of real strength and buy the dips in such a market.

The TATASTEEL call given in our posthttp://niftytipsniftylevels.blogspot.in/2012/06/nifty-tips-for-19-jun-2012.html made a high of Rs.13.40 today.
You can also check for option
Resistance 1
5130
Support 1
5100
Resistance 2

5180
Support 2
5080
Resistance 3
5200
Support 3
5050

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