Cavity Stop at the Collar and Best Intraday Tips Provider

Best Intraday Tips ProviderIndian Best Intraday shares fell to their lowest level in nearly three weeks today as stocks favored by overseas investors such as ICICI Bank declined, following heavy foreign sales in derivatives and cash shares in the previous session. The Bombay Stock Exchange Sensex closes at 26988 were nick down by 855 points or drive down by 3.07 percent. Nse Nifty Closes at 8128 were wound down by 251 points or plant slide down by 3 percent. The BSE Midcap and Smallcap indices ended largely in-line with the front-liners with losses of around 3 percent each. in today intraday trading.

Sensex Major Resistance on Upside at 27046-27183-27319

Sensex Major Support on Downside at 26776-26643-26506

Trend Deciding Level at 26913

Nifty Index Major Resistance on Upside at 8162-8222-8282

Nifty Index Major Support on Downside at 8054-8006-7946

Trend Deciding Level at 8114

Major Headlines

Lupin, Aurobindo Pharma, Jubilant Life gets approvals for Diovon

Nifty Indices

The Nifty was quite volatile today but finally closed almost flat forming a “long-legged doji” candlestick pattern at the 78.6% retracement level of its previous move. This pattern is formed near the neckline of a bearish head-and-shoulders pattern which is a concern for bears. Generally, this formation calls for a short-term reversal and since this fall is a five-wave fall a bounce can’t be ruled out. So, with these set of evidences from the Elliott wave theory and chart prototype, we assume that this candlestick pattern will have a short impact. The daily momentum indicator has just gone into a sell mode which is a bearish sign going forward. So, we continue to maintain our bias down for both the short and the medium term.

In the daily chart the index is trading below the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8229 and 8236 respectively. The thrust indicator is trading in negative sort on the daily chart

In the hourly chart, Nifty is trading below the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 8231 and 8264 correspondingly, which are crucial in the immediate run. The hourly impetus indicator encompass turned positive.

The market duration was turned negative with 641 advances and 879 declines, Unchanged 62 Total Issue 1582 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8193-8233-8272

Nifty Future Major Support on Downside is at 8105-8057-8017

Trend Deciding Level at 8145

Bank Nifty Major Resistance on Upside at 18609-18743-18878

Bank Nifty Major Support on Downside at 18323-18171-18037

Trend Deciding Level is at 18457

30 Days Simple Moving Averages @ 8332

50 Days Simple Moving Averages @ 8324

150 Days Moving Averages @ 7953

200 Days Simple Moving Averages @ 7667

5 Days Rsi at 28 and 14 Days Rsi at 39 Indicates Nifty Place in Trading Zone, with Bearish Moment.

Best Intraday Tips

Buy Nifty Jan Intraday Fut above 8180 sl 8155 Tgt 8200-8225 {Or} Sell 8130 sl 8155 Tgt 8110-8085

Buy Bank Nifty Jan Intraday Fut above 18535 sl 18485 Tgt 18585-18635 {Or} Sell Below 18435 sl 18485 Tgt 18385-18335

Curious Fact

In a sense we are all space travelers, and our space-ship is the planet Earth itself. It zooms along its orbit at the speed of 1, 07,000 kilometers every hour-only we don’t realize it!