Nifty Tips and Updates for Today 6 July 2012
* BUY NIFTY FUTURE (JULY) ABOVE 5352 TGT 5382 AND 5429 SL BELOW 5332
* SELL NIFTY FUTURE(JULY) BELOW 5326 TGT 5289 AND 5246 SL ABOVE 5348
After flat opening Nifty has witnessed buying in later part of the day and finally ended with relatively longer candle on daily chart. Still the further move is not cleared and consolidation at this level can`t be ruled out.
- Nifty intraday support placed at 5,312 - 5,297 - 5,280 levels and intraday resistance placed at 5,345 - 5,362 - 5,380 levels.
Intraday Trading Tips:-
* Buy Nifty July 5400CE at 49 Stop Loss 25 Target 80
US Data Update :-
US stocks ended lower Thursday, shrugging off moves by central banks in China and Europe to boost growth and honing in on US data showing weakness in consumer spending. The Dow Jones Industrial Average ended down 47.15 points, or 0.36% to 12,896.67. The S&P 500-stock index lost 6.44 points, or 0.47% to 1,367.58, while the tech-rich Nasdaq added a bar 0.04 points, or 0.00% to 2,976.12.
European stocks retreated as European Central Bank President Mario Draghi said downside risks to the economy remain, offsetting monetary policy easing by countries from China to the U.K. UK`s benchmark index FTSE 100 advanced 8.16 points, or 0.14%, to end at 5,692.63. French benchmark index CAC 40 declined 38.39 points or 1.17% to settle at 3,229.36. Germany`s benchmark index DAX decreased 29.24 points or 0.45% to settle at 6,535.56.
