"TRADING IDEA FOR TUESDAY (22.05.2012)"


Record low for Rupee against US Dollar forced Nifty to surrender all its intraday gain, however, made Nifty closed at 4906.05 with a marginal gain of 14.60 points. Trend is still down and we may take it as reversal only if Nifty cross atleast 4970 with volume.  
For today, WATCH 4910 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4930 AND 4950 ON THE UP SIDE WHEREAS BREAKING  4882, NIFTY MAY HIT 4850 AND 4830 ON THE DOWNSIDE. 
From options data,,highest options base has been shifted to 4700 put and 5100 calls.  However, as of now 4780/4800 may act as support and 5000 may act as resistance. 5200 (AFTER CROSSING 5000 & 5100-5110) will act as STRONG resistance.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
INTRADAY LIVE TRADING CALLS DURING TRADING HOURS FROM VARIOUS BROKING HOUSES :  CHECK HERE
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST. 
"Confused what to Buy or what to Sell ? Check here for INTRADAY CALL"