3 May 2013

MARKET VIEW AND OPTION CALL FOR MONDAY

Buy Unitech 35 call @ .30 tg .65,.95 sl .10
Tatamotors call given in post achieved first target and almost reached near the second target
NIFTY OUTLOOK FOR TOMORROW
RBI POLICY UPDATE:It cut repo rate by 25 basis points, where as no change in CRR.The market trimmed losses after hitting fresh intraday day low in mid-morning trading after RBI's announcement of repo rate cut after monetary policy review. The Nifty lost 55 points to settle at 5,944. The index hit a high of 6,000  in intraday trade. The index hit a low of 5,930 in intraday trade.Nifty was unable to sustain above 6000 today. Technically, the Nifty shows a lot of bullish momentum however, the market has already risen more than 500 points in the current upswing. ...
To watch the Nifty , one needs to be mindful of 5995-level to start with. The index must stay above this to keep its bullish gumption intact. Falling below this level on sustained selling—either through profit taking or building fresh shorts—would mean the first sign of weakness. However, so long as the index stays above the 5950 through 5920 range, the bulls would retain the potential to stage an intraday bounce back. If nifty sustains above 6000 it would be good sign for traders. Any failure to cross the coveted mark of 5995 decisively is fraught with real danger of fresh wave of selling coming in.
More about intraday tips on google +
 RESISTANCE:5990,6000, 6030
SUPPORT:     5950, 5920, 5900

2 comments:

  1. thanks sir...the nifty trend and the outlook predicted by you is very good keep it up...

    ReplyDelete
  2. very nice article the language of it is so simple that any one can read and understand it very well

    ReplyDelete