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NIFTY INTRADAY TIPS FOR 3 Feb 2011

The Nifty Index faced resistance at higher levels and was unable to cross its 5500 mark. On the derivatives front we have seen that the Nifty Futures slipped from day's high along with decline in the cost of carry and open interest, this is an indication of unwinding by the longs at higher levels. On the options front the OI PCR ended at 1.16 levels whereas the Volume PCR ended at 0.86 levels. The Indian Volatility Index(VIX) ended with decline of nearly a percent at 23.52% indicating some respite.

ACTION  TRIGGER PRICE  STOP LOSS  TARGET-1  TARGET-2 
BUY AT              5440             5400          5470        5520 

Nifty Intraday Levels for 3 Feb
SUPPORT 1  SUPPORT 2  RESISTANCE 1  RESISTANCE 2 
   5400              5330              5470               5520   

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Intraday Tips Updated at: 7:41 PM
 
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