:: Market Today ::
As told in morning, 5372 level will be todays Strong Support, Nifty made Low 5376.25 in the ending session. It was disappointing close for traders as market started gap up in the morning but ended at low point of the day. Weak European cues and some profit booking dragged the market lower towards the day end.
The market sentiment remains firm due to stepping up of buying by foreign funds over the past few days and Securities & Exchange Board of India (Sebi)'s recent decision to cut exposure margins on stock derivatives effective from Thursday, 15 July 2010. Revival of monsoon rains this month has also boosted sentiments.
Still we believe, that uptrend in Nifty may continue as there are no major damage in the charts due to todays session. Momentum still strong but with many hurdle at higher level so, as suggested in morning, be very careful at higher level, keep strict stoploss and trade in small quanities. The stoploss for all new buyers in Nifty should be kept around 5350 level.
:: FII Activity ::
FII activity in Equity Rs. +784.68 Cr. as on 13th July 2010
FII activity in Nifty Rs. -49.73 Cr. as on 13th July 2010
Resistances : 5432-5454-5480-5496
Supports : 5402-5380-5358-5332
:: Given Todays PreMarket Trades ::
Uptrend
Buy at 5422 with StopLoss 5406 (Open 5427)
1st Target 5442 (Achieved)
2nd Target 5454 (Almost Achieved) High 5453.65
As it does not Sustain Above 5460 next target 5482 (Not Came)
Downtrend
Sell below 5398 with StopLoss 5414
Target 5378 (Achieved) Low 5376.25
:: Positional Nifty Alert ::
Given BUY around 5230 with SL 5180-65 to NEW-or-Fresh Positional Investers for Target 5542-5600 in July Expiry. Please Revise your Stoploss to 5320 as of Now.
:: Remember Always ::
We suggest to keep at least 1% of its price as SL in All Equity Stocks.
All our levels mentioned are of Future Nifty not Spot Nifty.
All PreMarket and Live Trades are for Intraday Trading only.
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