Nifty futures has been trading almost flat for last 1 week due to lack of liquidity in the markets. We see a resistance level do exist near 6091 level, so our initial strategy for today is to wait for breakout in nifty futures above 6094 level for intraday targets of 6132 and 6153. Nifty is trading flat with limited downside holding 6045 strong support, but strong F&O expiry today may keep ... [Continue Reading]
Shares of Punjab and Sind Bank Will list on 30 Dec 2010
State-owned Punjab and Sind Bank will list its equity shares on exchanges on 30 December 2010. Also, it has fixed issue price at higher end of price band of Rs.120 per share. However, equity shares issued to employees and retail investors was given at discount of 5% at Rs.114 per share. Through this IPO the bank raised Rs.470.82 cr; Also the IPO was subscribed 50.75 times (mainly due to QIB). We ... [Continue Reading]
Nifty Futures Support Resistance Level For 29 December 2010
Nifty future is trading higher today after long period of consolidation. We have now changed our view from consolidation to bullish in short term. We will now look for buying opportunity near 6050 levels for short term target of 6095, at higher levels we are going to find resistance at 6070 level, which is strong resistance now. Once we break this resistance we will witness more buying upto its ... [Continue Reading]
Forex Trading Analysis on EUR/USD: Buy EUR/USD Above 1.3195
Intraday trading analysis (tips) on EUR/USD for 28 December 2010, we recommend Long (Buy) EUR/USD Above 1.3195 for target of 1.3245 and 1.3265 keep stoploss above 1.3175. Why to trade Long: This pair has shown positive breakout above 1.3185 level today, so the trend must follow till its first resistance of 1.3245. So we expect the pair should further strengthen to test the resistance of 1.3245 ... [Continue Reading]
Gold (Spot) Trading Analysis for 28 December 2010, Buy Above 1392
Gold spot intraday trading for 28 December 2010, Gold intraday trading tips, Long (Buy) positions in Gold above 1392 with targets as 1399 and 1405. Stoploss should be placed around 1386 level. Why to go Long on Gold : Gold was consolidating near 1385 to 1369, but a breakout of 1391 is a positive breakout and gold will not try to touch 1405 levels. We have a bullish outlook for gold today. Short ... [Continue Reading]
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