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Wednesday, June 24, 2009

Intraday market outlook for 24June

Yesterday we told that on downside Nifty fut support is at 4150 and resistance is at 4265-4290, today you all must have watched Nifty aking a low of 4152 and a high of 4274. we hope you all must be getting benefitted with our highly accurate market view. Stay tuned with us for more such view.

On 24June, Nifty fut will face resiatnce at 4290-4320 level, once nifty crosses 4320 and sustains above this level,then we can see higher levels of 4345-4375. Contrary to this upside, nifty has support at 4220-4190 levels, and fo any further downside nifty has to sustain below 4220 level. Breaching 4190 on downside can again create panic and can take nifty to 4150 level. Our insider sources suggests that ,in Nifty & RIL we might see some buying if Nifty sustains above 4290 level. So all shorters are adviced to short nifty only below 4220 level. Due to F&O expiry market will remain volatile, so trade with extra cautious.

Nifty levels
  • Resistance- 4290-4320-4345-4375-4410
  • Support- 4250-4220-4190-4172-4150

Intraday stocks
  • Network18 abv121 tgt-123.4-125
  • ABAN abv 891 tgt-898-910-916
  • Great Offshore abv 414 tgt-418-425-438+
  • RIL abv 2020 tgt-2038-2054-2090+
  • Also look for EKC, Unitech, Man Alumin.


For all trades, keep trailing your stoploss once the stock starts trading above buying price. Avoid spike buying.


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