31 May 2007

Hiiiiii

The high of 4302 could not be crossed and Nifty future preferred to retrace ahead of expiry of May contract. The crucial bottom of 4246.20 stands violated. For today's trading, to maintain upward momentum crossover of 4260 is must. Crossover of 4260 will lead Nifty future to the level of 4278 and if crossed, to day's high of 4295. Failure to cross level of 4260 will be a negative sign. On lower side violation of 4235 will lead Nifty future to the crucial level of 4200. Violation of 4200 will invite more profit booking leading Nifty future to the level of 4183. Resistance to upward move will be at 4280 and 4317 whereas Support will be at 4220 and 4197.

CLOSE 4243
R1 4280 R24318
S14220
S24198

BAJAJAUTO
CMP MAY FUTURE 2198

For today trading trend level exists at 2190-2200 levels. On down side below trend level support exists at 2177, 2161 levels. On upper side above trend level can go up to 2219,2234,2244,2260 levels.

Buy JETAIRWAYS June fut Stop loss 747 Target 765-770-775
Cash Intraday Calls:-
1.Buy MID-DAY Stop loss 47 Target 53-55-57.
2.Buy INDIAINFO Stop loss 610 Traget 628-34-40
3.Buy RCOM Stop loss 492 Target 508-510