18 July 2013


Buy UCO BANK future above 75 tg 76.50,78 sl 73.40
 Ambuja Cem  call given yesterday made a high of 209.35 i.e. near to second target given by us.
Nifty  is up 56.40 points at 6029. Nifty made a high of 6040 and a low of 5984. The god of printing money smiles again.We need to watch out for the levels between 6020 and 6040—if the index manages to get past this range, it would show quite a bit of gumption and we could surely expect it to climb further up to at least 6050 unless domestic issues either from the central bank here or any other issue affecting us in a major way...
.In case of any intraday retracement, we would watch out for the first support  at 5970 . The next two support levels are at 5940 and 5920. Only if the last one gets violated on high volume activity and large scale position building we may see further downswing and/or any real sign of weakness.
Now, on the way up, going forward this rally could be put to severe test between the Nifty levels of 6110 and 6140.
RESISTANCE:6000, 6020,6050

SUPPORT:     5990, 5950,5910


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