Day Trading Calls with Market Review for 18 Feb 2010

February 18, 2010 by

Nifty ended the day in green for the second consecutive day keeping the hopes alive for the bulls. The index has retraced 38.2% of the fall from 5310 to 4675 and has closed above its 20 daily moving average (DMA). Now going forward the 40 daily exponential moving average (DEMA) is an important resistance level, which is close to 50% retracement level. On the lower side 4846 has now turned to be a good support, as above this and 20DMA Nifty is likely to extend the pullback till 50% retracement level, which is 5000-mark. Hence, 4846 becomes an important level to watch out for as a break of this could be an early signal of the reversal of the short-term trend. The hourly and daily momentum indicators are in buy mode, which also supports the up-trend in the short term. So, we continue to maintain our short-term bias up.

Nifty Closed 4914

Nifty Support 4845/4808/4748

Nifty Resistance 4930/4964/5000

  1. Sell Sail Below 210 SL 212.80 TGT 206-203
  2. Buy Tata Motors Above 722 Sl 715.30 TGT 733-738
  3. Sell Tata Steel Below 575 SL 582 TGT 564-558
  4. Sell DLF Below 301 SL 305.80 TGT 293.5-289

Comments (1)

 

  1. RAVI MHASKAR says:
    February 19, 2010 at 8:35 AM

    HI,

    pls confirm pls want buy script market share stock

    Ravi Mhaskar

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