BUY R POWER ABOVE 90 TG 92.70, 94,40 SL 88.10.
Initial support below the closing level of 5240 comes in at 5224 today or the whole range of 10 points between 5224 and 5214 would act as the first line of defence for the bulls.
BUY NIFTY 5300 CALL @50 TG 75 ,85, 95 SL 38
Nifty
shed 12.85 points to settle at 5,215.70, its lowest closing level since 30 July
2012. The Nifty hit a low of 5,164.65 and a high of 5,220.20 in intraday trade.Some early morning buoyancy can be seen in the Nifty
with the bulls pushing it to the critical resistance zone between 5268 and
5280
. However, we still doubt its ability to sustain above this range. While we
do see the possibility of a major bullish pattern developing if the Nifty were
to cross the 5350-mark decisively either in this swing or sometime later, so
long as such a feat is achieved by the bulls, we see no reason to be gung-ho
bullish as of now.Initial support below the closing level of 5240 comes in at 5224 today or the whole range of 10 points between 5224 and 5214 would act as the first line of defence for the bulls.
Resistance 1
|
5225
|
Support 1
|
5190
|
Resistance 2
|
5240
|
Support 2
|
5170
|
Resistance 3
|
5270
|
Support 3
|
5140
|
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