27 September 2012

INTRADAY TIPS FOR 28 SEP 2012

BUY STER OCT 95 PUT @2.20 TG 4.40,6.90 SL 1.20
BUY RELIANCE 880 CALL  @ 10 TG 15,19 SL 4
The call given of ITC   achieved first TG. The call of DISH TV  achieved first TG and ONGC  achieved all targets.

NIFTY OUTLOOK FOR TOMORROW
NIFTY  closed marginally lower on settlement day Thursday but the series gone by was quite strong due to consistent inflow of foreign money after Federal Reserve launched a third round of quantitative easing and European Central Bank’s unlimited bond buying plan. The market has been in a consolidation mode moving in a tight range of 5650-5700 for the fourth consecutive session today after rising over 2 percent last Friday. We feel the rally will continue and the market will move towards 5900 level in the October series..............
A  fall below 5670 – 5650 would suggest fresh weakness coming in. It is now caught up in a narrow range between 5635 and 5700. However, unless we see it clearing the upper supply zone between 5685 and 5740, we would not really see any significant upswing from here. The range between 5685 and 5740 continues to be a formidable supply zone and it does have the potential to halt further upward march by the index.
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RESISTANCE:5670, 5700, 5740
SUPPORT      :5630, 5610, 5590




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