Weekly Stock Tips/Intraday Stock Tips

Nifty futures opened today with a gap up of approx. 30 points @ 4785. It quickly managed to scale above 4800 mark in the early session and made an intraday high of 4849. Nifty spend the whole day above the 4800 level and closed the day at 4832

WEEKLY NIFTY SUPPORT AND RESISTANCE LEVEL FOR 15 FEB TO 19 FEB 2010
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RESISTANCE —–4885………4940………..4995

SUPPORT…………..4772…….4716………….4660

SUPPORT AND RESISTANCE LEVEL FOR 15 FEBRUARU 2010
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RESISTANCE………..4850……….4870———-4890

SUPPORT…………..4808…………4787……………4766
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WE ARE VERY MUCH BULLISH AND HOPE MY TARGET WILL HIT IN FEBRUARY.ITS A VOLATILE MARKET………BUY ON DIPS SHOULD BE PROFITABLE

Buy TATASTEEL 531.50
SL 527
TGT 536-539….
ADD MORE BUY ABOVE 533
CMP 532 CASH/FUTURE.

Our view on Nifty future is positive for now. Only a break below 4720 support area , will reinstate the downside momentum again and take Nifty below 200 day moving average towards 4530 area . Any dips in Nifty should be used as a buying opportunities for the near term targets of 4950 and thereafter 5050 level.