22 August 2012

INTRADAY TIPS FOR 23 AUG 2012

SELL R POWER FUTURE BELOW 84 TG 82.20, 80.50 SL 86
BUY ICICI BANK FUTURE ABOVE 980 TG 986, 992 SL 971
BUY RELIANCE 820 CALL @ 7 TG 9, 11 SL 4
The call given in last post of   ITC achieved first TG and  JPASSOCIAT made a high of 1.1 today.
After a weak start due to weak Japanese trade figures and low close of  US market, the level of 5420 provided a good support to the index. As we have predicted in the last post the bullish trend continued  today, but couldn’t make it cross level 5450....

The bulls have good strength to take index beyond 5450, but it should sustain there to confirm the further upward move. The major hurdle to cross for the bulls will be 5475, to reach 5500.  Once it does that the next big supply zone would be between 5500 and 5510. However, let it cross 5500 decisively first before we start thinking about 5500-plus levels.
RESISTANCE: 5420, 5450, 5470
SUPPORT      :5405, 5390, 5360

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