Broader markets saw huge consolidation for last 4 trading sessions, but Nifty seems to be capped by the strong resistance at 5512 (50 DMA on 4 Hr. chart) . As nifty is still trading below 5512 level we expect the selling pressure to pull markets down on every up move, targeting the 5400 zone. So seeing this as a good opportunity we recommend to go long on nifty 5500 put near 49 level for target of ... [Continue Reading]
Intraday Stock For 22 Feb 2011: BUY HDIL At 152.5, Target 156.1
Stock for intraday trading: BUY HDIL @ 152.5 for target: 154.4 and 154.1, place protective stop loss at 151.1. We see strong buying supporting this stock as it is already trading up more than 2%, and is more likely to be bullish today. Technical indicators are confirming the bullishness in HDIL stock. ... [Continue Reading]
Nifty Futures Support Resistance Level For 22 February 2011
Nifty future is now consolidating before breakout in either direction, we are however bearish as long as nifty is trading below 5500 level. Downside and upside risk are same from current levels. We will advice traders to stay away from this market, as risk apatite is now high. If nifty is able to break above 5527 level and close for two days continuously then we will see a huge short covering ... [Continue Reading]
EUR/USD Intraday Trading Analysis for 21 Feb 2011: Buy EURO Above 1.3635
Intraday trading analysis (tips) for EUR/USD 21 February 2011, we will recommend, Enter long (Buy) EUR/USD only above 1.3635 for target of 1.3685 and 1.3725 also place protective stop loss below 1.3615. Why to go Long: EURO saw a breakout above 1.36 level, so the Euro is set to bounce at every lower level. Technical indicators are in favor of the trade on 4 hour chart. So we can see the pair to ... [Continue Reading]
Gold (Spot) Trading Analysis for 21 February 2011, Buy Above 1392
Gold spot intraday trading for 21 February 2011, Gold intraday trading tips, Add Long (Buy) positions in Gold above 1392 with targets as 1400 and 1405. Stop loss should be placed below 1390 level. Why to go Long on Gold : Gold has shown a strong breakout above 1383 level which is a positive sign for the trend, also gold is supported by the rising trend line. However, RSI is also supporting the ... [Continue Reading]
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