Tuesday, May 3, 2011

04/05/2011 Intraday Trading Ideas

Those who took position on 5400 PE as recommended on 02/05/2011 to buy below Rs 15 can square off half of their position above Rs 45 it has tripled and hold the remaining position.
All prices are based on spot
Now for Nifty one support is at 5525 and another at 5475 as of today some consolidation will be happening before breaking 5475 .Short Nifty whenever it bounces in upper side it will not be able to cross 5680

Levels for Today

Support 5525 , 5505 , 5475 , 5450
Resistance 5600 , 5630 , 5661 , 5680

Short ACC 1093 with a stop loss of 1105 for the target of 1062
Short Ambujacem 151 with a stop loss of 153.25 for the target of 145 , 142

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