22 June 2012

INTRADAY TIPS FOR 25 JUN 2012


The Indian market delivered a show of resilience despite global pressure. After trading for most of the day with deep cuts, the Nifty closed with just a 19 points loss at 5,146.
BUY INDIA INFOLINE (DELIEVERY CASH) ABOVE 64 TG 70 ,74, 80
BUY R POWER FUTURE ABOVE 103 TG 105, 107, 109.
BUY SBIN 2100 PUT @15 TG 28 , 36,42
 The range between 5150 and 5170—this is going to be the key support range for the day. If the cookie crumbles below this range then the index is headed for more selling pressure.
Nifty may cross the level of 5200,if it sustain there then bulls will be in action for more upward thrust. The level of 5095 might well act as a good support once again . The problem is that we are still in a highly volatile range-bound market; each time after a rally when we feel that the uptrend is likely to continue we get spooked by some international and/or domestic problem.

Thus, we suggest adopting the difficult yet the more sensible buy-weakness-sell-strength trading strategy till such time you see either a fall below 4950 or a firm breakout above 5225. In any case, we do not expect the Nifty to immediately fall below the 5050-mark on closing price basis even in the wake of large scale selling from any quarter. Rather there is a likelihood that such levels, if at all reached, would be used by long term investors to fish for good opportunities.

You can also check for option
Resistance 1
5160
Support 1
5110
Resistance 2

5190
Support 2
5080
Resistance 3
5230
Support 3
5030






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