Buy Nifty 3700 Put Option @
CMP 71.00
Target 100
Stop loss 55.00 *www.bullsindia.net* less
Thursday, July 17, 2008
Nifty Today 17-7-08
NIFTY (Close- 3816.70)
Nifty has broken 3800 marks yesterday but just manages to close above 3800 marks. Well, it is too early to say that weakness is over but technical recovery should come at least for first half. No fresh short is advisable.
Support - 3800/3760/3737
Resistance - 3848/3876/3918
SENSEX (12575.80)
Well, Sensex came very close to 12500 support marks. Market can see some technical recovery and this is most suitable zone to move. Still any rise will just be the relief rally. Stocks has already suffered a lot. Break below 12500 marks will result the test of 12200 marks. I do not prefer to trade on short side from lower levels. Technically if Sensex sustain above 12500 marks then we can see recovery at least towards 13000 marks. Banking and reality stocks has already seen very sharp fall in past few days. For trading one should prefer trade long on technology stocks. Global cues and political news flow can add volatility in any direction so one must trade with caution.
Support - 12500/12296/12080
Resistance - 12790/12940/13160
Nifty has broken 3800 marks yesterday but just manages to close above 3800 marks. Well, it is too early to say that weakness is over but technical recovery should come at least for first half. No fresh short is advisable.
Support - 3800/3760/3737
Resistance - 3848/3876/3918
SENSEX (12575.80)
Well, Sensex came very close to 12500 support marks. Market can see some technical recovery and this is most suitable zone to move. Still any rise will just be the relief rally. Stocks has already suffered a lot. Break below 12500 marks will result the test of 12200 marks. I do not prefer to trade on short side from lower levels. Technically if Sensex sustain above 12500 marks then we can see recovery at least towards 13000 marks. Banking and reality stocks has already seen very sharp fall in past few days. For trading one should prefer trade long on technology stocks. Global cues and political news flow can add volatility in any direction so one must trade with caution.
Support - 12500/12296/12080
Resistance - 12790/12940/13160
Labels:
Nifty,
Resistance,
Sensex,
Support
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