Free Intraday Stock Tips for tomorrow(16-September-2011)
Buy jindalsteel Future above 554.5 TGT- 561 & 566.50 sl- 550 Market lot 500
Buy BGR Energy (cash ) Above 375 TGT-380 & 387 SL 371
Buy Nifty 5100 call option @ 107 TGT-157 & 215 SL-62 hold for 2-3 days
NIFTY MARKET OVERVIEW
Nifty exhibited a very busy show and witnessed a good closing after a good last session in today's share market. The up move of today's nifty market confirmed trend reversal after Tuesday’s DOJI star pattern. Nifty, not only closed with good gains, but also it regained the vital support of 5050, after losing it in intraday session. Volumes in today's share market were good and apparently buying momentum was visible and Nifty may be in temporary up move as it has crossed vital resistances of 5050. Because of a good show, Nifty overcame the vital resistance of 9 & 14 days’ SMA placed at 5044 & 4996 but closed below the vital support levels of 50 &100 day’s SMA placed at 5265 & 5390 levels; this may be the new resistances in forthcoming sessions. Modest buying in small cap & mid cap market supported Bulls to snatch control from bears, because of which, Indices closed with positive share market breadth. In today’s session, VIX, the barometer of uncertainty, closed at a higher level of 30.79, indicating more than average volatility in today's stock market in the forthcoming sessions. RSI (14) for the session was at 49.85 levels and MACD closed below the signal line, thus combined together they are giving the signals that; market may continue to witness some positive spike.
Nifty Level
Pivot point-5034
R1-5102
R2-5129
S1-5007
S2 -4939
S1-5007
S2 -4939
