Intraday Share Tips

US stock markets stepped up on Monday after better than expected economic data drove optimism about the economy. The Dow Jones industrial average rose 0.8%. The S&P 500 climbed 1.1% and The Nasdaq Composite advanced 1.5%.

European markets finished Monday’s trading on a strong note as continuing inflow of positive economic data supported growth hopes. The CAC 40 closed with a gain of 2.5% and The DAX 30 rose 1.1%. Stock markets in UK were shut due to holiday.

Asian markets are trading positively. Hong Kong’s Hang Seng jumped 0.5%, Singapore’s Straits Times gained 0.6%, Taiwan’s Taiwan Weighted added 0.1%, China’s Shanghai Composite is up by 0.8% and Japan’s Nikkei 225 mounted 1.4%.

Reliance Industries disappointed the opening day of 2011. At current levels, the critical support is seen at 1045. A failure to hold this can be negative  for the counter. However, the counter is trading near the major moving averages is only the positive. The 200-days EMA (Exponential Moving Average) is at 1030, which can act as the critical support. Any upside will emerge only if the scrip manages to hold above the critical resistance of 1067.50.

BSE index: (20499) 20427-20397 crucial support to watch out for. Break below 20397 only it'll fall down further to 20359, 20314 & 20270, buy on declines keeping stop loss of 20124.
Upward side 20588 & 20692 crucial hurdles. Crossover above 20692 it'll spurt up heavily to 20777 & 20854.

Nifty JAN future: (6160) Expect it to fall down further to 6142-6136 & 6122 initially, buy on declines keeping stop loss of 6112. Upward side 6179 & 6210-6222 crucial hurdles. Crossover above 6222 it'll spurt up heavily to 6249 & 6273.

Downward side in any worst scenario break below 6112 it'll fall down to 6063-6042, buy again on lower levels keeping stop loss of 6015.

EXIDE: (173) Just grab current futures at an opening bell considering 168.50 a solid support keeping stop loss of 167.

All set to shoot up to 190-194 & 205 in hours only.

ONMOBILE: (305) Just grab current futures at an opening bell considering 298 a solid support keeping stop loss of 291.

All set to shoot up to 333 & 352 in hours only.

CAIRN: (343.60) Just grab current futures at an opening bell considering 339 a solid support keeping stop loss of 335.

GT OFF: (403) 399 & 392 solid supports, buy. Expect 419 & 431.

BOSCH: (6491) 6400 a solid support, keep stop loss of 6315 & buy. Crossover above 6700 it'll shoot up to 7000.

MARUTI: (1430) Crossover above 1455 it'll spurt up heavily.

ITC: (177) Keep stop loss of 174 & buy.

GAIL & OIL INDIA: Looks good.

MPHASIS: (682) Crossover above 693 it'll spurt up heavily.

TECH MAH: (745) 731 & 719 solid supports, buy on declines.

HEXAWARE: (126.60) 124 a solid support.

GRASIM, WELCORP, CIPLA, RANBAXY & AUROBINDO: Looks good.

AREVA & PRAJ: Looks good.

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