INTRADAY TIPS FOR 3 JULY 2012

BUY SUZLON 20 CALL @ .60 TG 1, 1.20, 1.40.

BUY MARUTI FUTURE ABOVE 1200 TG 1212, 1224, 1232 SL 1180.

SELL LT FUTURE BELOW 1400 TG 1380, 1360, 1340 SL 1420.

Intraday Market today on the very first day of the new week, new month started with a flat note ,Indian equity had flat amid a lack lustre trade on Monday as the market is looking for a fresh trigger to extend rally. Nifty touched an intraday high of 5,302.5, before closing flat at 5,278.

The Nifty is likely to open positive on the back of positive global cues. It is likely to trade in the range of 5,260-5,340. The trading strategy would be to create long positions if the Nifty takes support at around 5,270 levels for targets of 5,305 and 5,325. On the other hand, one can also create short positions if it resists at around 5,340 levels

In any profit booking, we may see the index falling to test the 5255 – 5234 range. This is the most crucial support for the Nifty in any major profit booking for this is the range that is unlikely to be broken since we just had a breakout above the 5200-mark.

You can also check for option

Resistance 1	5290	Support 1	5270
Resistance 2	5320	Support 2	5240
Resistance 3	5370	Support 3	5220