13 July 2012

INTRADAY TIPS FOR 16 JULY 2012

RELIANCE 720 PUT given in last post achieved first target!!!!.
SELL NIFTY FUTURE below 5240 TG 5210 ,5190, 5170 SL 5270
BUY DCB @47.50 TG 48.20, 49.40 SL 46.80
Nifty  closed listless trade on a flat note on Friday as the market is eagerly waiting for inflation data (that scheduled for July 16), which will decide the Reserve Bank of India's move on July 31 (a day of first quarter monetary policy review). There was the choppy trade throughout the day ,index started at 5242 ,made a high and low of 5261 and 5218 respectively ........
.Again, the range between 5250 and 5280 becomes the critical zone that would determine initial strength or weakness. If it the index recovers to levels above this zone early on it could usher in a recovery after the drubbing it got due to the IT majors shaving off in a big way in yesterday’s session while staying below this zone would mean the 5200-mark could come in under threat.If the support at 5210 gets broken with high volume based selling expect a probable test of 5170 through 5150 support area. We, however, do not expect the level of 5150 to be broken in this corrective downswing.
You can also check for option
Resistance 1
5280
Support 1
5240
Resistance 2

5300
Support 2
5200
Resistance 3
5330
Support 3
5150

1 comment:

  1. Stock market is known for its volatile nature and real nifty trading experts are those who can still earn from it. Stock market trading offers great returns but traders should be or should become capable enough to grab those opportunities.

    ReplyDelete