Nifty on 18'th Jan 2010---

Nifty on 18'th Jan 2010---

In tandem with markets overseas, Nifty opened 25 points lower. From morning trade itself, aggressive buying in banking stocks supported by very good volumes acted as a booster that helped index to take support nifty at 5230. Pharma & IT stocks to gain entire day (We Mentioned on Saturday). However, the index found it difficult to sustain above these levels and inched down to end the session 23 points higher at 5275. 5270 & 5290 acted supply zone. 3 lakh shares were added in open interest with decrease in cost of carry, indicating creation of fresh short positions at higher levels. On the option front, implied volatility has increased marginally, indicating that the market will continue to remain in a broader range with good supports around 5200-5180 and short covering above 5330 levels.

Trading Moves for the day 18’Th Jan was:-

Sell Tata Steel at level of 645 with intraday target of 636 & 628.

Sell Reliance at level of 1111 with intraday target of 1100 & 1092

Sell S&P Nifty at level of 5250 with intraday target of 5220, 5200

EOD Trading Position for the day 18’Th Jan was:-

Sold Tata Steel at level of 645 & took profit at 636 & 632.

Sold Reliance at level of 1111 & took profit 1100 & 1097.

Sold S&P Nifty at level of 5250 & covered it 5262.

Tata Steel ADVANCE SCIENTIFIC Chart 18’Th Jan 2010:-

(Forecasting to happen during Trading Hours)

Tata Steel Chart In Real Market 18'th Jan :-

(Chart from NSE STOCK EXCHANGE)

Reliance Chart from Real Market 18'th Jan :-

(Chart from NSE STOCK EXCHANGE)

Infosys Chart from Real Market 18'th Jan :-

(Chart from NSE STOCK EXCHANGE)

Bye.............

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