Thursday, February 9, 2012

MARKET TODAY : EPISODE 41

NIFTY PIVOT : 5391.
SUPPORT LEVELS FOR NIFTY : 5358, 5305, 5272.
RESISTANCE LEVELS : 5444, 5477, 5530.

Market turned as bullish on short term basis. So, traders may buy call options.

Nifty closed at 5412.35 points with 0.82% increase .

The European Central Bank President , Mr. Mario announced that leading political party leaders agreed for the agreement and enforcement in Greece . It will be a good symptom for European market.
SEBI makes guidelines for buyback disclosure to make it in a standard format. It will be forced with immediate effect.

One shocking news is that TATA STEEL declared a net loss of 603 Cr in third quarter whereas it had a net profit of 1003 Cr in Q 3 last year.

Our intraday tip was to buy NIFTY FUTURES at 5385. It achieved its second target at 5434 and showed a high at 5461.5.

GOOD LUCK....

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