20 July 2012

INTRADAY TIPS FOR 23 JULY 2012

BUY UNITECH FUTURE ABOVE 24 TG 25.5, 27.70, 28.90 SL 22.80
SELL JP ASSOSIATES FUTURE BELOW 72 TG 76.20, 75.10, 74.50 SL 78.30
BUY NIFTY 5200 CALL @40 TG 60, 85 ,100 SL 20
The S&P CNX Nifty lost 37 points to settle at 5,205, its lowest level since 17 July 2012. The index hit an intraday high of 5,238.70. The Nifty hit an intraday low of 5,197.50.
The market had  a start above 5200 but weakened once again in afternoon trade as European stocks edged lower in early trade amid lingering worries over Spain's rising borrowing costs. Volatility continued as the market once again trimmed losses in  afternoon trade......
The market weakened once again in late trade.Such a probability does not go away till such time the index falls below the 5200 – 5180 mark again. Thus, any dip you get can be used as a buying opportunity for good stocks.
If the index manages to stay above the 5225-5250, it is most likely headed higher. This is the key support area and the crucial range that would determine the strength or the lack of it in the trading  session. On the way up, once the Nifty crosses 5250 , going further up, the level of 5310 should be watched.

You can also check for option
Resistance 1
5220
Support 1
5200
Resistance 2

5250
Support 2
5150
Resistance 3
5280
Support 3
5130


           


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