BUY HINDALCO 175 PUT @ 2.3 TGT 3.5
BUY AXISBANK 740 CALL @ 7.5 TGT 10.5
Bulls are
on back foot bears continued to grip the markets in Tuesday’s session also due
to an across-the-board sell-off as financial sector woes, auto sales slump and
weak macro data spooked investors. …!!!! Nifty came below 11400 mark.
After opening at 11515 nifty made a high of 11554 & came down to 11247
& finally closed at 11359 down by 114 points in intraday.
Tuesday was
the second straight session when the index saw a late recovery. it is failing
to sustain at higher levels, which is a cause of concern. Going forward it is imminent for this index to
sustain above today's low of 11247 levels. Sustaining above the said low a
consolidation in the zone of 11255–11500 levels can be expected and unless
11500 is cleared on the upside further strength in the index shall not be
expected. The 11200 level still
looks like a sacrosanct support, a breach of which shall take the Nifty below
the 11100 level. A decisive close above the 11550 level should usher in a
sustainable uptrend.
More about intraday tips on Google +
Resistance: 11450, 11550, 11650
Support: 11300, 11200, 11100
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