24 August 2012

INTRADAY TIPS FOR 27 AUG 2012

SELL NIFTY FUTURE BELOW 5400 TG 5370, 5340 ,5310 SL 5430
BUY SBIN 1900  PUT @18 TG  32, 45
BUY JINDALSAW FUTURE ABOVE 122 TG 125, 128 SL 119.80
The index could not sustain above 5400, it reversed its direction and closed below 5400. Today was very tight range bound movement ,index fluctuated between the very narrow range.....
This shows the nature of the weak closing and gives enough indications of selling pressure at levels close to 5400.

For Monday  the range between 5410  and 5390 would be quite crucial for the index to maintain—if it fails to stay above this range it would indicate more weakness is likely and the index could well go down below 5390 support area. First downside support is at 5375.
RESISTANCE: 5390, 5405, 5450
SUPPORT      :5385, 5360, 5330

1 comment:

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