Free Intraday Tips For 30 April 2010
On the day of expiry of April F&O contracts, Nifty stated off positive and consolidated in the first half but moved higher in the second half to close positive. For the last couple of days, Nifty has been trading in a very narrow range of 5200-5300 with support around its 40 daily moving average (DMA) at 5210. The index has taken support around 40DMA i.e. 5210 and has bounced back, so, 5200 becomes an important support in the short term. Nifty is expected to retrace the rally from 4675 to 5400 by 50% i.e. 5040. On the hourly chart, Nifty has broken out of the channel with support at 5160 and resistance at 5343. On the daily chart, the momentum indicator (KST) has given a negative crossover and trading below the zero line.
Nifty Closed 5254
Nifty Support 5200-5150-5100
Nifty Resistance 5300-5350-5400
- Buy BRFL 220 SL 218 TGT 223-225
- Buy Sail Above 223 SL 221.60 TGT 226
- Sell TCS Below 759 SL 763 TGT 752
- Buy Tata Steel Above 640 SL 633 TGT 653
- Subscribe to Satluj Jal Vidyut Nigam IPO at lower end: Edelweiss
- Jaypee Infratech Limited IPO
- Satluj Jal Vidyut Nigam Ltd IPO
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With Regards,
Kushagra Mehta
http://www.daytradi
Happy Trading,
United we grow!!!
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