Tuesday, August 2, 2011

Tips For Intraday Trading In Indian Share Market

NIFTY: : Last week it was reversal from the 200 DMA 5730 and finally made a low of 5453. On the other hand disappointing earnings from the front line companies and US debt crisis seemed undecided about the market direction by FIIs. Derivative volume crossed Rs. 230000 crores in last few sessions indicate big move in either side in next week. The next focus mainly drama in US legislature at the 2nd August deadline for hiking the $ 14.3 trillion debt ceiling draws close. 

There could be a relief rally if a resolution accepted by both houses before the deadline, if not accepted, so overall crash situation in worldwide likely. Weekly Magic No. 5603
Fibonaci Study: As per broad based Fibonacci projection study from the low in 2004 and the significant high and low of 2008 calculate , which reveal next target of 7317 which is a 61.8%

In this week consider trend decider 5551 - above it will test 5630, thereafter heading towards 5700-5730, which is near to 200 DMA level. Down side consider support 5440- 5404 5380, thereafter overall selling in the market and lower level test 5000-4785

TODAY: Because of global effect Intraday Nifty open positively and it was showing some volatile situation and close positively. Now we may consider resistance -5550- 5560 and support 5480-5450. Today Magic No. 5480
BSE : After RBI policy, big down side were saw resulted week to week The short term trend turned negative last week with Sensex moving below 50 as well the 20 DMA. 

The weekly oscillators also decline into negative zone last week In this week, we may consider a strong support 18000, in that even the decline can further extended up to 17500-17314. However, at lower level buying emerges cannot be ruled out. On the positive side, it will face resistance 18350-18500 then 18850. Failure to cross 18350-18400 will be an indication of an impending decline. Weekly Magic No. 18424.

Today: BSE SENSEX open positively and it was showing some volatile session in the market and close flat too negatively. Now we may consider resistance18440-18578 and support is 18166-18012. Magic No. 18200.
BANK NIFTY STOCK MARKET :  Last week due to RBI credit policy major jerk were saw in Banking Index resulted made a low of 10763 from the high 11435 and almost wipe out more than 750 points and finally closed at 10926. Now consider resistance 11000-11125 in near term, downside support 10850, decisively break with volume nonstop target 10500-10400 range. Magic No. of this week 11125.

Looks very very hot...
We are bullish from the level of 90
And our target...?
(making another Petronet) .

Last week we have recommend to sell below 900
And added more short once break 860
Overall trend is bearish...
Remain below 850-860 range,
Down side target 820-800 then 756 possible
Sell - Sell - Sell
Fibonacci Projection - 810- 751-725.

Finally trading above 50-200 DMA
Indicate worst is over and buy side...
Last and final resistance 59- thereafter...?

Below 565 real panic in this counter
Sell on rise...

It will test...?
Before the result...(3rd August)
Buy and hold for next two trading sessions...

Excellent quarterly nos. and
Fresh long in FO
Your stop loss 49 - and buy..

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