Free Intraday Tips For 13 April 2010
It was a drab session today where Nifty traded in a narrow range of just 50 odd points. The bulls are just not giving up, and on this the markets are holding up finding support at lower levels irrespective of the momentum being in a sell mode. On the upside 5400 is a crucial resistance, whereas 5290 is a crucial support. So, the Nifty needs to get itself out of this narrow range to get into rhythm in either direction. The negative divergence is continuously witnessed both on the daily and the hourly charts, signaling caution at these lofty levels after a continuous nine-week advance. The price being the king is confirming so, and until that reverses and signals the reversal, we continue to maintain our bias up for the target of 5485.
Nifty Closed 5340
Nifty Support 5290-5269-5187
Nifty Resistance 5400-5430-5485
Sell Sail 236 SL 240.80 TGT 231-228
Buy Cipla 334 SL 327 TGT 341-346
Buy Bajaj Hind 138 SL 135.5 TGT 143
Buy Infosys Above 2715 SL 2686 TGT 2760-2780
