NIFTY
FUTURE ACHIEVED ALMOST FIRST TARGET ,RAISE SL TO THE COST.
There is every possibility that market might once again clear the Nifty resistance level at 5335 even if it were to open lower.
On the way fresh resistance is likely to be meet between 5359 and 5383if the bulls want to carry the momentum forward. In case, this supply zone is taken out—pretty much improbable for the day—there would be another crucial resistance at 5407.
We do not anticipate any major fall in the Nifty below the 5300-mark; at the worst, 5283 might get retested. We continue to think this is a buy on declines market.
BUY
RELIANCE 720 PUT @10 TG 15 ,18, 20 SL 5
BUY
TCS 1400 CALL @ 9 TG 19, 29, 33
The
market edged lower in early trade on weak Asian stocks. A bout of volatility
was witnessed as index trimmed initial losses to hit fresh intraday highs 5333 in
morning trade .Weakness continued on the bourses in early afternoon trade. The
market extended intraday losses to hit fresh intraday low 5303 in mid-afternoon trade. The down fall
witnessed today was due to weakness in the international arena following
nagging Eurozone problems.............
.There is every possibility that market might once again clear the Nifty resistance level at 5335 even if it were to open lower.
On the way fresh resistance is likely to be meet between 5359 and 5383if the bulls want to carry the momentum forward. In case, this supply zone is taken out—pretty much improbable for the day—there would be another crucial resistance at 5407.
We do not anticipate any major fall in the Nifty below the 5300-mark; at the worst, 5283 might get retested. We continue to think this is a buy on declines market.
Resistance 1
|
5325
|
Support 1
|
5300
|
Resistance 2
|
5360
|
Support 2
|
5280
|
Resistance 3
|
5400
|
Support 3
|
5260
|
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