24 January 2013


Buy LT future above 1605 tg 1619,1632 sl 1584
Sell PantaloonR future below 245 tg 238 ,232 sl 249
Nifty shed 34.95 points to 6,019, its lowest closing level . The index hit low of 6,007.85 in intraday trade. The index hit high of 6,065.30 in intraday trade. The critical levels for the day would between 6050 and 6070 levels. Unless the Nifty falls sustainably below this support area, the bulls would retain their ability to stage a strong bounce back just the way they did in the last session....
Even if it falls or even stays below this zone during intraday movements, so long as the Nifty does not close below 6000 decisively the scenario would not turn that bearish.On the way up beyond 6068, there is likely to be quite a bit of supply pressure between 6080 and 6100-mark. Only when it crosses 6100-mark successfully, we can expect the final projection of 6150 for the current upswing may come in to play shortly.
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RESISTANCE:6040 6080, 6100
SUPPORT      :6000, 5980, 5920

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