Free Intraday Stock Tips

Stock calls : 17 April, 2009

US markets ended higher.
Europe also ended higher.
Asia has opened positive. Expect Indian Markets to have a positive opening.
The support for the Sensex is 10662-10444 and the resistance to the up move is at 11255
Nifty: (3370) the support for the Nifty is at 3303-3238 and the resistance to the up move is at 3451

Markets opened higher yesterday on the back of positive cues from the global markets. However, the markets soon turned negative on heavy selling in front line and index heavy weight stocks led by Reliance Group. The sharp slide yesterday could be attributed to profit booking by the investors at higher levels. The market saw wild fluctuations yesterday with the Sensex fluctuating by more than 350 points and the Nifty by more than 150 points between their intra- day high and low. Market participants refrained from building fresh positions ahead of uncertainty about the out come of the LS polls. The Sensex finally ended the session yesterday losing a massive 337 points at 10947, whereas the Nifty closed at 3369 with a loss of 114 points. In intra day trades the Nifty touched a high of 3511 and a low of 3354 whereas the Sensex made a high of 11367 and a low of 10900. Inflation dropped further down again raising hopes of rate cut and suitable measures to boost the sagging economy by the RBI. The market breadth however, was weak at close. Out of 2653 stocks traded on BSE, 1742 stocks closed on a negative note. 851 stocks posted gains and 60 stocks ended flat. Markets may remain highly volatile with bouts of buying and selling intermittently, and therefore, readers are advised to trade with caution and remain stock specific.

Neyvelli Lignite

Sell: Below 90.50

Target: 87

StopLoss: 91.45

NIFTY FUTURE (Last close 3375.60)
The counter after opening marginally higher soon slipped in to the red on heavy selling in front line stocks and profit taking at higher levels an indication to which was given in these columns yesterday. However, the counter may reverse yesterday’s fall once it trades and remains above 3422.75, whereby it may move up to 3452/3498. Strong support for NF exists at 3352.25, which if breached decisively NF may slide further to 3327/3292.

EDUCOMP FUTURE (Last close 2204.10)
The stock closed yesterday marginally higher over its previous close with high volumes amid wide fluctuation and intra day swing of more than 170 points. The stock appears positive on weekly charts and may move up to 2257/2298, once it trades and remains above 2217.75. Strong support for the stock exists at 2183.25.

HINDUSTAN UNILEVER FUTURE (Last close 239.85)
The stock after moving range bound for the past one week closed yesterday above its weekly resistance with average volumes. The stock appears positive on weekly charts and may move further up to 245/249 once it trades and remains above 240.50. Strong support for the stock exists at 237.25.

Tags: day trading calls, intraday stock calls, nifty signals