As we told today Market will open flat and take support at 5240-50, Nifty opened at 5239.90 and made low 5234.40 in early hours. Once again it had regained strength turning positive, as European stocks recovered. Banking stocks shrugged off an unexpected hike in key policy rates by the Reserve Bank of India after trading hours on Friday, 2 July 2010. But, PSU OMCs fell.
Crossing our trend level 5252 Nifty made High of 5264.90 in noon time. But it had not reacted as seen on the charts, due to Low Volume.
:: Given Todays PreMarket Trades ::
Uptrend
Buy at 5236 with StopLoss 5216 (Low 5234.40)
1st Target 5262 (Achieved)
2nd Target 5280 (High 5264.90)
Downtrend
Sell around 5224 with StopLoss 5244 (Not Came)
For Risky Traders
Buy at 5200 with StopLoss 5180 (Not Came)
For Risky Traders
Sell at 5290 with StopLoss 5314 (Not Came)
:: NEWS Headlines ::
- Opposition strike over high fuel prices bites
- Pranab says no rollback of fuel price hike
- Monsoon may cover all India in 3-4 days
- Anil Ambani merged his Reliance Power, RNRL : RNRL shareholders will receive 1 RPower share for every 4 shares they hold.
- Europe banks: stressed out, in need of clarity
- Wall St Week Ahead: Bulls on the run in shortened week
- China economy stable, but macroeconomic dilemmas - Wen
- ANALYSIS - Health and austerity: When budget cuts cost lives
- Indian Stocks May Extend Gains on GDP Outlook; Rupee Forecast to Advance
:: 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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