Tuesday, May 26, 2009
INTRADAY TIPS FOR 26 MAY 2009
MARKETS ARE STILL IN THE PHASE OF CONSOLIDATION AHEAD OF EXPIRY, MARKETS WOULD STILL REMAIN IN THIS PHASE FOR ANOTHER COUPLE OF DAYS, ONE OF THE STRONG POINT OF THIS MARKET IS INDICES ARE HOLDING THE CRUCIAL SUPPORT LEVELS. AS THE MARKET BREADTH IS POSITIVE A LITTLE DOWNSIDE IS ALWAYS CONSIDERED TO BE A BUYING OPPORTUNITY TILL IT BREAKES CRUCIAL SUPPORT LEVELS SO KEEP BUYING IN THE MARKET ON THE DOWNSIDE BUT TRY TO BUY LESS QUANTITY. THOUGH THE MARKETS ARE NOT MOVING MUCH THERE IS STOCK SPECIFIC MOVES IN THE MARKET.
MARKETS WOULD REMAIN HIGHLY VOLATILE WITH NEGATIVE BIAS TILL IT CROSSES 4260 IF NIFTY CROSSES THIS LEVEL THEN WE CAN SEE IT TO 4290 AND IF IT BREAKS 4220 MAY SEE NIFTY TO 4190 IF NIFTY CLOSES BELOW 4190 THEN ONE CAN REMAIN SHORT IN THE NIFTY. FOR TODAY THE CRUCIAL SUPPORT FOR NIFTY IS 4190 AND RESISTANCE AT 4400.
BUY TATAPOWER ABOVE 1075 SL 1067 TGT 1084/1089
BUY TATASPONGE ABOVE 229 SL 224 TGT 240/254
BUY HERITAGE FOODS ABOVE 68 SL 65.40 TG T 71/74
BUY NATIONAL ALUMINIUM ABOVE 347 SL 342 TGT 355/368
BUY JINDAL PHOTO ABOVE 144 SL 132 TGT 220 (FORGET FOR 10 TRADING DAYS)
SELL CAIRN FUTURES AT 215 SL 220 TGT 209/205
SELL BHARTI BELOW 810 SL 816 TGT 797/786
OPTIONS BUY ITC JUNE CALL OF 190 AT Rs 10 AND SELL 200 CALL OF JUNE AT 6.50
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