19 July 2012

INTRADAY TIPS FOR 20 JULY 2012

SELL TATAMOTORS 220 PUT OPTION @ 1.70 AND  SELL TATAMOTORS 230 CALL OPTION @ 2 , SL 5.5 (when cumulative price cross 5.5)
The S&P CNX Nifty was up 26.40 points  5,242.70, its highest closing level since 11 July 2012. The index hit a high of 5,257.75 and a low of 5,233.15 in intraday trade.. It appears that the short-term corrective swing in the Nifty is already through.....
the index is likely to move up from here. In all likelihood, the low of 5169 would not be broken while we might see a retest of 5280 – 5330 once again shortly. If nifty manages to stay above 5280 consistently, we can expect this upside to last for the day long.
 
Technically also, market was almost like in oversold position so the trend is likely to persist for the next  day. But inability to sustain above 5250 may negate our bullish view.

You can also check for option
Resistance 1
5250
Support 1
5240
Resistance 2

5270
Support 2
5220
Resistance 3
5290
Support 3
5200


           

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