Free Intraday Tips For 9 April 2010
Nifty fell sharply in today's session breaking the trendline support. The daily momentum that gave a negative divergence for a week was a signal of exhaustion. Yesterday, it turned into buy mode but it did not sustain and made a hinge by turning into sell mode again. This is another sign of the rally losing its steam on the way up. The level to watch closely tomorrow is 5290; as if Nifty doesn't close above 5290, it will end the week with a negative close. The weekly KST provides comfort to the bulls as that continues to be in a buy mode. With that, we continue to maintain our bias up.
Nifty Close 5304
Nifty Support 5280-5250-5200
Nifty Resistance 5330-5350-5400
Sell India Infoline Below 117 SL 118.50 TGT 115.60-114
Sell ABAN 1248 SL 1271 TGT 1225
Sell Triveni 134 Sl 135.6 TGT 132.5
Sell TCS Below 788 SL 799 TGT 771
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With Regards,
Kushagra Mehta
http://www.daytradi
Happy Trading,
United we grow!!!
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