May 21, 2008

Intraday View For 21/05/08

NIFTY: Resistance 5150/5168/5190
Supports 5050/5030/5000/4980/4975/4920/4890


View: As we said on Sunday, Nifty is falling now. We posted cautious note on Sunday for this week (Click Here To Read). High Crude prices is causing Global problem.
Still too many multiple supports at lower levels. 4900 Puts advised yesterday for hedging did well till closing & still its advisable to hold it if Nifty don’t sustains 5050 area.


Intraday Trades:
CAIRN: Short below 315.5 Tgt 310-306 Sl 321



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