Free Intraday Tips For 15 April 2010
For yet another day Nifty traded in a very tight band. 5290 is acting as a crucial support, which is keeping hopes alive for the bulls, going forward. The upward parallel channel in which Nifty is trading remains intact. Till 5290 is held, there exists a probability that the index is forming a triangle at current levels, which is a bullish alternate. Another alternate is that if the channel is broken on a closing basis, this rally will come to an end with an ending diagonal in its last leg. So, the time ahead is crucial for both the bulls and bears. On the momentum front, the daily and hourly KST has gone into sell mode but the weekly KST continues to be in a buy mode. The volumes and breadth have weakened since couple of days—again a concern going ahead. So, in nutshell, one needs to trade cautious till these crucial levels are taken off. We continue to maintain our bias up.
Nifty Close:- 5323
Nifty Support:- 5302-5279-5235
Nifty Resistance:- 5330-5379-5400
· Buy Tech Mahindra 846 SL 837 TGT 854
· Buy Opto Circuit 224-225 SL 222 TGT 228-231
· Buy Bajaj Auto 2093 Sl 2079 TGT 2121
· Buy Tata Steel Above 698 SL 692 TGT 704-709
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With Regards,
Kushagra Mehta
http://www.daytradi
Happy Trading,
United we grow!!!
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