INTRADAY TIPS FOR 16 AUG 2012

LT FUTURE CALL GIVEN IN LAST POST  ACHIEVED FIRST TG,  MADE A HIGH OF 1462    TODAY. JPASSOCIATS 80 CALL MADE A HIGH OF 1.45 CONTD.. TO HOLD.

BUY M&M FUTURE ABOVE 755 TG 764, 777 SL 743.

SELL NIFTY FUTURE BELOW 5380 TG 5350, 5320, 5290 SL 5410.

BUY IDFC 140 CALL @2.30 TG 3.4, 4.9 SL 1.50.

Index made a positive start today, the level 5350 provided support  to it. As we have predicted market continued the bullish trend today, bulls managed to take  it till 5380..............

Inflation numbers came out lower than the street expectation. July inflation numbers came in at 6.87 % below street expectation of 7.24 %. This moderation in inflation raises expectation for some monetary easing. Market trend  is considered to be up as trading sentiments will be higher due to lower inflation numbers. Index may touch the magical level of 5400 soon, trading above it would be good signal for more uptrend . The level of 5450 is expected to be witnessed soon.

You can also check OPTION   

RESISTANCE: 5400,  5420,  5470
SUPPORT:       5345,  5300,   5375