Intraday Trading Tips - 08st February 2012
-BUY Infosys Ltd. Intraday Target 2,804 Stop Loss 2,735.
-BUY IFCI Ltd. Intraday Target 33.5 Stop Loss 32.
-Sell tata steel around 450-451, target 445-442.
-Positional BUY Kotak Bank Above 537 Target 565-575-600.MORE TIPS >>
Nifty Tips for Today
-BUY NIFTY @ 5365 SL 5340 TGT 5380-5400.
Today's Market Opening -
The Indian market opens for trade this morning on a flat-to-positive note. Earlier, the US markets ended flat with the Dow up 33 and Nasdaq up 2 odd points while Asia is in the green at this hour. Sensex is trading at 17679, up 56 points from its previous close, and Nifty is at 5353, up 17 points. CNX Midcap index is up 0.4% and BSE Smallcapindex is up 0.5%. The market breadth is positive with advances at 452 against declines of 119 on the NSE.
Nifty Futures Technical Overview
Benchmark share indices ended lower on Tuesday, snapping their five- day winning streak, as investors booked profits in index heavyweight Infosys along with capital goods shares. The 30-share Sensex ended at 17622.45 down -84.86 points and the 50-share Nifty ended at 5335.15 down by -26.50 points. The Sensex and the Nifty reached an intra-day low of 17582.49 levels and 5,322.95 marks, respectively.
Meanwhile, India's gross domestic product (GDP) is estimated to grow an annual 6.9% in the 2011-12 fiscal year, a government statement said on Tuesday, citing provisional estimates.
Resistance - 5420 5330
Support - 5560 5260
Nifty Futures shut stop at 5357.95 down by -8.90 points or -0.17 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5420 else below support level of 5330 it would be in a downward trend.
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