"BUY RELIANCE 1400 PUT @ 20 TGT 32/40 "
"BUY ZEEL 250 CALL @ 8 TGT 10/12"
The market bounced
back and resumed its up move after day's pause in the previous session led by
gains in Infosys which staged a rebound after witnessing worst single-day fall
in over six year. HDFC, ICICI Bank, Tata Consultancy Services, Maruti Suzuki and
HCL Technologies also contributed towards gain in the market. For most part of
the day, the indices traded firmly higher but turned a bit volatile in the
afternoon deals owing to weakness in Reliance Industries, Bharti Airtel, Kotak
Mahindra Bank and Larsen & Toubro. The Sensex ended 95 points higher
at 39059 and the Nifty advanced 16 points to close at 11604.
The index
formed a bullish candle on the daily scale and needs to hold above 11600 to
extend gains towards 11700 , and then 11800 -11900 zone. Overall setup and
momentum is positive and a hold of recent zones could extend rally, while
support exists at 11550 and then 11500 levels. It has been making higher
top and higher bottom formation and supports are gradually shifting higher with
medium term support at 11400. More about intraday tips on Google +
Resistance: 11650,
11750
Support: 11550,
11450
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