INTRADAY TIPS FOR 22 AUG 2012

BUY IDFC FUTURE ABOVE 145 TG 148, 152 SL 142

SELL ITC FUTURE BELOW 262 TG 260, 257 SL  264

BUY JPASSOCIAT 80 CALL @ .70 TG 1.9, 2.9

Huge gush of liquidity propelled the rally in Nifty on Tuesday, a day after a big weekend. Nifty surpassed the 5400 level quite nicely in late trade, for the first time since March 16, 2012, which rose 54 points to close at 5421......
. Index made a high of 5422 and o low of 5380 today.

The bulls are pretty much undecided around the level of 5400 We need to see again if it manages to sustain above the level of 5400 for a longer time If it manages to do that ,with a close above 5450 will prove more uptrend .

RESISTANCE:5430, 5450, 5490
SUPPORT      :5390, 5360, 5320