[sharetrading] Free Intraday Tips For 28 April 2010

 

Free Intraday Tips For 28 April 2010

Nifty has been trading in a very narrow range of 5200-5300 for the last couple of days. On the hourly chart, Nifty is trading in a channel holding on to 20 daily moving average (DMA) and 40DMA pegged at 5289 and 5206 respectively, which is a bullish sign for the market in the short run. Nifty has taken support around 40 daily moving average (DMA) at 5200 and has bounced back. So 5200 becomes an important support in the short term and until it breaks below 40DMA, the market remains in a bullish trend. On the daily chart, Nifty has broken out of an inverted head & shoulders pattern, with neckline at 5266 and the prices have also retested the neckline for the target of 5350. On the daily chart, the momentum indicator (KST) is on the verge of giving a positive crossover and trading below the zero line.

 

Nifty Close 5308

Nifty support  5260-5210-5170

Nifty Resistance  5350-5400-5450

 

Buy Punjllyod 166.5 Sl 163.2 TGT 169.8-173

Sell Apollo Tyre 73 SL 74.5 TGT 71.5

Buy Reliance 1061 SL 1049.6 TGT 1082-1096

Buy TCS 786 SL 780 TGT 793-799

 

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

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