"BUY RELCAPITAL 180 CALL @ 8 TGT 10/12"
"BUY ICICIBANK 385 PUT @ 3 TGT 3.9/4.8"
Bulls are back in action
& took nifty above 11700 but nifty close. Indices ended higher but off
day's high on Monday with Nifty finished below 11700 level. At close, the
Sensex was up 138 points at 38905, while Nifty was up 46 points at 11690. Market
took positive cues from Asian peers, where equities neared nine-month
highs on easing of concerns about the US-China trade conflict. Trade
talks between the two countries were approaching a final lap, while strong
Chinese export and bank loan data boosted confidence in the global economy.
The index formed a bullish candle on the
daily scale and needs to hold above 11700 to extend gains towards 11800, and
then 11900 -12000 zone. Overall setup and momentum is positive and a hold
of recent zones could extend rally, while support exists at 11650 and then 11600
levels. It has been making higher top and higher bottom formation and
supports are gradually shifting higher with medium term support at 11500.
More about intraday tips on Google +
Resistance: 11800, 11900
Support: 11650, 11600
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