INTRADAY CALLS FOR 18 JULY 2012

SELL LT FUTURE BELOW 1380 TG 1355,1325 SL 1405

SELL AXISBANK FUTURE @ OPENING FOR TGT 970,950 SL 1048

Nifty closed lower for the fifth consecutive session on Tuesday, weighed down by capital goods, oil & gas, steel, auto and power stocks. The market opened the trade with more than 100 points gap up following positive Asian cues, but that could not sustain for long as traders opted to book profits (amid monsoon worries) in second half of trade.....

The market edged higher in early trade tracking gains in Asian shares. The market soon pared gains. A bout of volatility was witnessed as key benchmark indices regained positive zone after slipping into the red in morning trade.

Volatility ruled the roost as the index once again regained positive zone in early afternoon trade after the latest data showed the rate of growth in inflation based on the wholesale price index slowed in June 2012. The market trimmed gains in afternoon trade as European stocks dropped in early trade there. Key benchmark indices once again slipped into the red  and extended losses in late trade to finally end at 5192.

As market dropped in last session so we are expecting a weak start tomorrow. We need to monitor the level 5190 closely,if index falls below it then it would be a threat for the bulls. Something above 5225 would show good signs of hope and recovery.

You can also check for option

Resistance 1	5200	Support 1	5180
Resistance 2	5260	Support 2	5160
Resistance 3	5290	Support 3	5120