13 October 2012

FUTURE AND OPTION TIPS FOR 15 OCT 2012

Buy ICICI 1020 put @13 tg 19,27 sl 6
Buy Ster 105 call @2.10 tg 3.70,5.80 sl 1.20
The call given of Nifty future achieved  second target.
NIFTY OUTLOOK FOR TOMORROW
In the second half strong buying in major pivotal counters as well as in select midcaps saw the index closing after posting a solid gain of almost 1%. Index witnessed a reversal from the corrective swing that took it  to seek a short term bottom at 5636  in intraday trading today....
.However, the bulls need to maintain the index above 5715 tomorrow to carry on this fledgling bullish momentum post the short term corrective hence, this level of 5715 should be treated as the first resistance point. Beyond that 5730, 5741 and 5753 are the three next resistance levels to watch out , especially important would be the range between 5741 and 5753 once this range is taken out by the bulls they can expect the index to move up.
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RESISTANCE:5700, 5730, 5770
SUPPORT      :5650, 5630, 5550