On day two nifty again was not able to hold the gain but good for nifty is that it still holding 5170 strongly. There is negative Divergence in stochastic which shows there is expected fall in next few trading session of market. Technically nifty could take support of 5170 and if it trade below that level than 5120,5062,4981
Nifty Technical for the day
There is an Immediate Resistance at 5,260 & 5,280 levels on the upside, expect selling pressure to continue at higher levels unless index manages to sustain and close above it. The breaks of crucial support of 5,170 .
Nifty levels :-
R-5270/5325
S-5170/5117
Stock Tips:
SHORT NIFTY @ 5230 WITH STOP-LOSS OF 5270 TARGET – 5170 & 5117 HOLD FOR 1-2 DAYS
BUY BAJAJ-AUTO 1500 CALL OPTION @ 8 AND BAJAJ-AUTO 1400 PUT OPTION @ 10 TOTAL COST – 18 (4500) TARGET – 36 & 55 SL- 6 HOLD FOR 2-3 DAYS
SHORT LUPIN FUT. @ 581 WITH STOP-LOSS OF 590 TARGET OF 565 & 540
Wednesday 18 July 2012
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