INTRADAY TIPS FOR 30 JULY 2009

GOOD MORNING!!!

INDICES CRASHED ON FRENZIED SELLING IN INDEX PIVOTALS IN EARLY AFTERNOON TRADE WITH ONGOING TENSION ON THE INDO-CHINA BORDER AGGRAVATED THE FALL. STOCKS WITH HIGH BETA VALUES WERE THE WORST HIT. MARKET BREADTH TURNED WEAK AFTER A POSITIVE START FOR THE DAY. MARKET THOUGH TURNED WEAK ON HUGE HUGE VOLUMES ONE CANNOT RULE OUT THAT BULL RUN IS COLLAPSED. IT IS WISE TO TRADE IN LESS QUANTITY OR STAY AWAY FROM MARKET FOR TODAY AS THERE IS CLOSING OF CONTRACT FOR THE MONTH OF JULY.

TODAY IF NIFTY BREACHES 4500 AND TRADES BELOW IT THEN ONE CAN SEE NIFTY AROUND 4440 AND BREACH BELOW THIS LEVEL WOULD DRIVE THE MARKET TO 4404 LEVELS AND BREACH BELOW THIS LEVEL WOULD TURN MARKET COMPLETELY TO THE NEGATIVE ZONE, ONE CAN TAKE SHORT POSITIONS IF NIFTY CLOSES BELOW 4400 LEVELS WITHOUT ANY HESITATION. IF NIFTY CROSSES 4525 AND TRADES THEN WE CAN SEE NIFTY TO SPIKE UPTO 4560 LEVELS AND THEN WE MAY SEE SOME RESISTANCE THERE AND IF MANAGED TO TRADE ABOVE THEN 4604 IS THE TARGET 4642. IF NIFTY CROSSES 4600 EXIT YOUR SHORTS WHEN NIFTY CROSSES 4650 IT IS ADVISED TO GO LONG.

BUY HEROHONDA ABOVE 1637 SL 1619 TGT 1679/1706
BUY JINDAL STEEL 3120 SL 3049 TGT 3200/3238/3290
BUY ROLTA 148 SL 146.4 TGT 150/152
BUY DLF ONLY ABOVE 403 SL 393 TGT 413/422/432
SELL HDIL BELOW 268 SL 271.7 TGT 258/254/245/237
SELL TATASTEEL BELOW 442 SL 446.5 TGT 432/421