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NIFTY INTRADAY TIPS FOR 8 Feb 2011

The Nifty Index in last trading session was once again not able to sustain at higher levels and ended flat below its 5400 mark at 5396. On the derivatives front we have seen that the Nifty Futures prices ended flat along with increase in the cost of carry, but witnessed slight decline in the open interest, this is an indication that some short covering was witnessed from lower levels coupled with closure of longs near the resistance mark. On the options front the OI PCR is trading at 1.15 mark whereas the Vol. PCR is trading at 0.98 levels. On the volatility front the Indian Volatility Index (VIX) ended with gains of nearly a percent indicating volatility to continue in the coming days.

NIFTY INTRADAY TIPS 8 Feb 2011

ACTION  TRIGGER PRICE  STOP LOSS  TARGET-1  TARGET-2
BUY BELOW       5385            5365        5430         5465 

Nifty Intraday Levels for 8 Feb 2011

SUPPORT 1  SUPPORT 2  RESISTANCE 1  RESISTANCE 2 
   5365              5305            5430                5465  

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Intraday Tips Updated at: 7:35 PM
 
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