Market updates for 30/08/2012
Nifty Daily Chart
Nifty has once again closed in red by closing at 5287 down by 46 points. The trend of the index is down and it is likely to test 5250-5200. Nifty has a short term support at 5280 and important resistance are 5350-5400. The trading strategy should be sell on peaks as long as Nifty is below 5350.
Chart of the day
REC
REC has a major support at Rs.189. If it closes below this level then the short term targets are Rs.180-175. Wait for the breakout.
Nifty Medium Term Trend
| Trend |
UP |
| Initiation
Date |
07/08/20122 |
| Initiated
at |
5336 |
| High since
change |
5448 |
| Reversal if
closes below |
5180 |
Open Positions
| Scrip |
Type |
Price |
CMP |
P/L |
| Bank Nifty
Sept 10100 PE 2 Lots |
Long |
160 |
221 |
122 |
| Bank Nifty
Sept 10200 CE 1 Lot |
Long |
240 |
159 |
-81 |
| Britannia |
Long |
486 |
488 |
2 |
Today's Trades
| Scrip |
Buy Price |
Sell Price |
P/L |
| McDowell |
962 |
978 |
16 |
| Rel Cap Sept
Fut |
323 |
330 |
7 |
Squared off Position
| Scrip |
Buy Price |
Sell Price |
P/L |
| Nifty Sept
5300 PE |
63 |
79 |
16 |
Thought for the day
You don't need anybody to tell you who you are or what you are . You are what you are.
