[sharetrading] Day Trading Calls with Market Review for 29 Mar 2010

 

Day Trading Calls with Market Review for 29 Mar 2010

After giving a breakout from the triangular pattern, Nifty continues to trade on upside surpassing the resistance of 5270 and just shy of 5310—the previous swing high made in January when it had formed a monthly bearish engulfing pattern. The index is trading in an upward parallel channel and above 5310. The next target is 5470—the upper end of the parallel channel. On the lower side, 5260 and 5210 are good short-term supports. The daily KST continues to be in a sell mode, but the hourly KST has come into buy mode making the bulls comfortable. Nifty has given its seventh consecutive positive weekly close in a row, which depicts the strength of bulls. With this, we continue to maintain our short- and medium-term bias up.

 

Nifty Closed 5282

Nifty Support  5260/5210/5180

Nifty Resistance 5310/5350/5400

 

 

1. Buy Bank of India 321-322 Sl 317.60 TGT 326-330
2. Buy Tata Motors 749-750 SL 744.60 TGT 757-763
3. Buy TCS 825-826 SL 816.50 TGT 837-840
4. Sell JP Associates Below 148 SL 151.30 TGT 144

 

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With Regards,
Kushagra Mehta
http://www.daytrading.in/

 

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