[sharetrading] Day Trading Calls with Market Review for 25 Mar 2010

 

Day Trading Calls with Market Review for 25 Mar 2010

Nifty traded within a range for yet another day with the expiry of March F&O contracts due on day after tomorrow (Thursday; March 25, 2010). There are clearly two levels Nifty needs to watch out for—5180 on the lower side and 5270 on the higher side, as this is the range in which the index is stuck. The momentum has shifted on the sell side, indicating that Nifty will face hurdle at higher levels. The NSE benchmark is trading in an upward parallel channel and a break below 5180 will take it to 5100 levels i.e. to the lower end of the channel. The days ahead remain very crucial, as at the end of this month the scenario might get clear with the monthly and quarterly close. The medium-term bias remains up, as Nifty is trading above its 20 weekly moving average (WMA) and the weekly KST is in buy mode but in the short-term the momentum is weakening. We maintain our bias down for the retracement from 4675 to 5270.

 

Nifty Close 5225

Nifty Support 5180/5131/5050

Nifty Resistance 5270/5300/5318

 

1. Buy Adlabs 218 SL 216 TGT 223-226
2. Buy Bank of Baroda 624 SL 618 TGT 630-636
3. Buy Reliance Infra Above 1020-1023 SL 1016 TGT 1029-1036
4. Sell TCS Below 816 SL 828 TGT 805-800

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

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