INTRADAY TIPS FOR 30 OCTOBER 2009

GOOD MORNING!!!

INDICIES TUMBLED YET AGAIN ON THE STRIGHT 4TH DAY. VOLATILITY WAS THE ORDER OF THE DAY IN THE SECOND HALF OF THE TRADING SESSION AS THE MARKET LOST GROUND AFTER A STRONG INTRADAY REBOUND. VOLATILITY SURGED AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM OCTOBER 2009 SERIES TO NOVEMBER 2009. RELIANCE INDUSTRIES FELL IN CHOPPY TRADE AHEAD OF ITS Q2 RESULTS LATER IN THE DAY. INDIA'S LARGEST TRACTOR MAKER BY SALES MAHINDRA & MAHINDRA ROSE ON STRONG Q2 RESULT. BUT METALS MAJOR STERLITE INDUSTRIES FELL ON POOR Q2 RESULT. REALTY, BANKING AND METAL STOCKS ALSO FELL.
TODAY MARKET WOULD OPEN ON POSITIVE NOTE WITH GLOBAL QUES TRADING ON POSITIVE SPHERE, TODAY WE ARE HEADING TO THE FRESH DAY OF NOVEMBER CONTRACTS. NIFTY HAS TAKEN SUPPORT AT A VERY CRUCIAL POINT. IF NIFTY BREAKS AND CLOSES BELOW 4740 THEN WE MAY SEE FURTHER MORE CORRECTION IN THE MARKET. FOR TODAY IF NIFTY TRADES ABOVE 4755 THEN IT IS LIKELY TO TAKE NIFTY TO 4798 AND TRADING ABOVE THIS LEVEL WOULD TAKE NIFTY TO 4830-4845 AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 4740 THEN IT IS LIKELY TO SLIDE DOWN MUCH MORE THAN ANTICIPATED. SO STAY INVESTED NOW WITH A STOPLOSS OF 4740 LEVELS.
BUY M&M SL 914 TGT 941/956/972

BUY VOLTAS SL 149 TGT 154/156
BUY RANBAXY SL 389 TGT 396/399/404
SELL DLF BELOW 374 SL 381 TGT 364/358/352
SELL RECAP BELOW 720 SL 731 TGT 711/701
TRADE SELL CALLS ONLY IF NIFTY BREAKS BELOW 4740 ELSE ONE CAN TAKE BUY POSITIONS.