Monday, May 9, 2011

Tips For Intraday Trading In Share Market

In the last week Nifty almost tumbled 466 points after a made a high 5906. Short term market over sold and corrective rally on continue . Pull back rally will face resistance 5619- 5630 thereafter ---5700-5729, thereafter index will gathering momentum. Strong resistance of this week is 5590.. Down side key support 5350-5300 watch out. Break and trade below, further fall in the market. 

TODAY : On Friday Intraday Nifty opens positively and showing good strength in the market because of over reaction of monitory policy, short covering, and softening of crude and commodity prices. Now the new support level is 5481-5444. And resistance is 5580-5615-5668. Today crucial level 5570 watch out.. Below Bear favour, Above Bull favour.

In this column, we have written no. of times that Index will face resistance 19650-19850 range and decisively will move further, but it was made a high 19697 and started down ward journey and made a low 18160, almost wipe out 1500 points. Now in this week corrective pull back continue and first and major resistance watch out 18644....18800 .decisively crossover will invite more up side and short covering in the market. If unable to surpass may more lower level likely 17850-17300 in near term. 

Today : BSE Index is open positively and showing strength with rection of crude and commodity prices and at the end it close negatively. Now today support watch 18047-17951 and resistance is 18320-18500. Today crucial level 18586

In the last week, big sell off were saw in Banking sector and almost wipe out mor than 1000 points but last day of trading strong buying forces and short covering resulted to manage above 11000 level. Short term up side continue. In this week it will face resistance 11500-11750 and support is 10500 watch out. Break and trade below immediate target 10000. 

TODAY : - Bank Nifty Stock opens positively and it was showing very good strength in the market with the effect of monitory policy and close positively. Now the important level to watch for intraday working support is 10913-10730 and resistance is 11300-11543. Hold 11100 no problem for bulls.

Today we may consider resistance 5590.. crossover it will test...............?..... thereafter over all buying can not be ruled out......Down side support is 5530 if break this level more lower level expected. Today likely a big volatile sessions due to........

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