4 August 2012

NIFTY TIPS FOR 6 AUG 2012

BUY R POWER ABOVE 90 TG 92.70, 94,40 SL 88.10.
BUY NIFTY 5300 CALL @50 TG 75 ,85, 95 SL 38
Nifty shed 12.85 points to settle at 5,215.70, its lowest closing level since 30 July 2012. The Nifty hit a low of 5,164.65 and a high of 5,220.20 in intraday trade.Some early morning buoyancy can be seen in the Nifty with the bulls pushing it to the critical resistance zone between 5268 and 5280
. However, we still doubt its ability to sustain above this range. While we do see the possibility of a major bullish pattern developing if the Nifty were to cross the 5350-mark decisively either in this swing or sometime later, so long as such a feat is achieved by the bulls, we see no reason to be gung-ho bullish as of now.

Initial support below the closing level of 5240 comes in at 5224 today or the whole range of 10 points between 5224 and 5214 would act as the first line of defence for the bulls.

You can also check  INTRADAY TIPS
Resistance 1
5225
Support 1
5190
Resistance 2

5240
Support 2
5170
Resistance 3
5270
Support 3
5140


            

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.

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