NIFTY bang on(read yesterday's post)!!!!nifty could find a support at 5360 levels(futures)and gave a good pull back rally towards 5400 levels...NIFTY would continue to be in a sell mode til 5480 is taken out on the upper side...SBI, Reliance drag nifty to 5360 levels ...and the immediate downside targets are 5360 and 5290 levels /...on the upside 5410 and 5480 levels....Hope all of you have booked good profits in your 5300 put positions...
One stock that was too tempting today was Herohonda and the way it bounced back from intraday low of 1670's to 1800 (equity) was amazing....the bounce back was supported by huge increase in volumes and it would be a good buying opportunity at 1750 levels towards an immediate target of 1840...(would be revised as per the market movements, and it is a traders stock) . If the market gives a pull back this would hit be a major gainer....only one positive factor that could move market upwards is some kind of buying happening in Reliance..but the chart is not showing any strength at all...
watch out for 9925 as intraday support for Dow Jones
