Free Intraday Tips For 10 June 2010
Despite sliding into red during the session, Nifty ended the day in green—and this means that the probability of continuation of wave X still exists. On the lower side, 4961 is acting as a crucial support for a couple of days now—and till that is held we continue to maintain our short-term bias up. On the higher side, 5051 and 5071 are the crucial resistances as Nifty futures have formed a bearish island reversal pattern. The range for the Nifty hence is 4961-5071 and a breakout from the range will make thing much clearer. The daily momentum indicator continues to be in buy mode, which is a positive sign in the short term.
Nifty Close 5000
Nifty Support 4960-4920-4880
Nifty Resistance 5040-5080-5120
Buy Century Text 442.5 SL 440 TGT 446-450
Buy HDFC Bank 1882 SL 1868 TGT 1902-1912
Buy Bhushan Steel 1290 SL 1277.5 TGT 1302
Buy Tata Steel 463 SL 454 TGT 470-476
