BUY RELIANCE 1620 CALL @ 24 TGT 28/32
A volatile trading session
ended on flat note as losses in auto and private bank stocks offset rally in
telecom counters. The sensex closed marginally higher by 8 points at
40802, it swung between a high of 41093 and a low of 40707 during the day.
Nifty settled 7 points down at 12048.
Nifty formed a Bearish
Engulfing’ candle on the daily chart. Not with standing weak breadth and
visible signs of fatigue, the trend remained intact, but the Nifty may need to
breach the 12150-12170 range for any strong action. The nifty today found
support near the lower end of the pattern and formed a base over there. It
looks poised for a leap towards the upper end of the pattern, which is near the
12125 -12100 zone. The trend may become bullish, once it crosses above
the 12155 level today. A critical support for index is placed around the 13-day
EMA, whose supporting value for the next session is placed around the 12000
mark
More
about intraday tips on Google +
Resistance: 12050, 12095,
12150
Support: 11950,
11900, 11850
No comments:
Post a Comment