"TRADING IDEA FOR WEDNESDAY (23.05.2012)"


Record low for Rupee against US Dollar forced Nifty to surrender all its intraday gain, and finally, made Nifty closed at 4860.50 with huge loss of 45.55 points (nearly 1%). As said yesterday, Trend is still down and we may take it as reversal only if Nifty cross atleast 4970 with volume.  
For today, WATCH 4870-4882 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4910/4930, EVEN 4950 ON THE UP SIDE WHEREAS BREAKING  4850, NIFTY MAY HIT 4830/4830 AND EVEN 4780 ON THE DOWNSIDE. 
From options data,,highest options base has been shifted to 4700 put and 5000 calls.  However, as of now 4780/4800 may act as support and 4970/5000 may act as 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"