9 May 2013

MARKET TREND AND FUTURE TIPS FOR 10 MAY 2013

Sell IDFC future below 154 tg 152.20,149.40 sl 156.20
Buy RPOWER future above 80 tg 82.40,84.50 sl 78
NIFTY OUTLOOK FOR TOMORROW
 Nifty was down 19 points  to 6,050. The index hit a high of 6,084 in intraday trade. The index hit a low of 6,040 in intraday trade. Index moved according to our prediction in last post. On the charts, we see that despite a last half-an-hour rally, mostly by short covering, we find some supply at levels higher than 6070 mark is clearly visible...
Now, assuming that the index would continue moving up beyond the 6070-mark, its next resistance is at 6095. In fact, the whole range between 6095 and 6130 is a strong supply zone. Even if it were to scale up beyond 6131, it is unlikely that such a swing would sustain above 6142-mark.
More about intraday tips on google +
 RESISTANCE:6050, 6080,6130
SUPPORT:     6030, 6000, 5980

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