INTRADAY TIPS FOR 17 JULY 2012

The call of nifty given in last post is rocking now !!!!!  first two TG’S achieved, very near to third one. The call given of DCB also reached the TG.

SELL INFY FUTURE BELOW 2170 G 2150 ,2130,2140 SL 2100.

BUY NIFTY 5200 PUT@50 TG 70, 90,110 SL 20.

Indian equity benchmarks continued to move around their Friday's closing value due to lack of global and local cues. The S&P CNX Nifty shed 30 points to settle at 5,197.25, its lowest closing level since 28 June 2012. The index hit a high of 5,246.85 and a low of 5,190.45 in intraday trade.....

.The market is waiting for government's action over diesel price as sources says the government may hike diesel price after presidential election (that will be on July 19).Again, the range between 5200and 5225 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, while staying below this zone would mean the 5200-mark could come in under threat. Once this range is taken out, we can expect strong gains on the upside; in that case, the buying momentum would once again take it beyond the coveted 5300-mark for the Nifty—a scenario that is wee bit unlikely for the day.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	5230	Support 1	5180
Resistance 2	5260	Support 2	5160
Resistance 3	5300	Support 3	5110

           

 The call of nifty given in last post is rocking now !!!!!  first two TG’S achieved, very near to third one. The call given of DCB also reached the TG.

SELL INFY FUTURE BELOW 2170 G 2150 ,2130,2140 SL 2100.

BUY NIFTY 5200 PUT@50 TG 70, 90,110 SL 20.

Indian equity benchmarks continued to move around their Friday's closing value due to lack of global and local cues. The S&P CNX Nifty shed 30 points or 0.57% to settle at 5,197.25, its lowest closing level since 28 June 2012. The index hit a high of 5,246.85 and a low of 5,190.45 in intraday trade.The market is waiting for government's action over diesel price as sources says the government may hike diesel price after presidential election (that will be on July 19).Again, the range between 5200and 5225 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, while staying below this zone would mean the 5200-mark could come in under threat. Once this range is taken out, we can expect strong gains on the upside; in that case, the buying momentum would once again take it beyond the coveted 5300-mark for the Nifty—a scenario that is wee bit unlikely for the day.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	5230	Support 1	5180
Resistance 2	5260	Support 2	5160
Resistance 3	5300	Support 3	5110