[sharetrading] Free Intraday Tips For 12 May 2010

 

Free Intraday Tips For 12 May 2010

Nifty reversed from the upper downtrend line retracing exactly 61.8% of the fall from 5342 to 4984. Now, 5206 is a crucial resistance on the upside, whereas, 5046 is a crucial support on the lower end. Hence, Nifty is now stuck in a range of 5206-5046, finding resistance at the mean of the Bollinger band i.e. 20 daily moving average (DMA). Below 5046, this rise will be confirmed as wave X bounce. And then wave Z will target below 4984, which will be close to 200DMA. Till 5046 is not overlapped, the chances of Nifty holding up are high. So, going forward 5046 should be a crucial level to watch out for and till that is held we continue to maintain our short-term bias up.

 

Nifty Close 5136

Nifty Support 5095-5040-5000

Nifty Resistance 5180-5220-5260

 

Buy Nifty Above 5160 SL 5127 TGT 5220

Buy Axis Bank Above 1277 SL 1257 TGT 1300

Buy TCS Above 765 SL 754 TGT 780

Buy Tata Steel Above 590 SL 581 TGT 602

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

__._,_.___

Reply to sender | Reply to group | Reply via web post | Start a New Topic

Messages in this topic (1)

Recent Activity:

• New Members 6

Visit Your Group

Please use your discretion before acting on the ideas expressed in the group.
Happy Trading,
United we grow!!!

MARKETPLACE

Stay on top of your group activity without leaving the page you're on - Get the Yahoo! Toolbar now.

---

Get great advice about dogs and cats. Visit the Dog & Cat Answers Center.

---

Hobbies & Activities Zone: Find others who share your passions! Explore new interests.

Switch to: Text-Only, Daily Digest • Unsubscribe • Terms of Use

.

__,_._,___