Indian Futures Trading share market knock down for the 3rd straight session on Friday, drumming their lowest close in over two weeks as blue-chips slipped on Iraq violence led risk repugnance. The Bombay Stock Exchange Sensex closes at 25106 were down by 97 points or slumped by 0.38 percent. Nse Nifty Closes at 7512 were fallen by 30 points or fell by 0.39 percent BSE Midcap index lost by 0.4 percent whereas the Smallcap index ended 0.7 percent loss in intraday trade.

Sensex Major Resistance on Upside at 25233-25360-25487

Sensex Major Support on Downside at 25020-24934-24807

Trend Deciding Level at 25147

Nifty Index Major Resistance on Upside at 7549-7585-7621

Nifty Index Major Support on Downside at 7488-7463-7427

Trend Deciding Level at 7524

Major Headlines

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Wockhardt gets UK nod to sell anti-retroviral Nevirapine tablet

Jayaswal Neco board to mull preference share issue on June 25

Nifty Indices

Nifty closes at 7511, were down by twenty nine points. The index finished the week in a negative mode for a second consecutive week by closing almost at the week’s squat, in this manner forming a shooting star candlestick pattern. Lying on the inferior side, 7487 is a very decisive support in the immediate term and below that 7433 is another level to look at out for. Beneath 7433 the bulls have to capitulate as bears will have an absolute control over the breadth of the market during such a crate. Precise currently, the utmost stocks are showing weakness and their momentum indicator has gone into sell sort; nevertheless, Nifty itself is not flouting the short. So, this could lead to an upside which can be called “turn around deviation”, in which the impetus shall undo in the direction of the price. Consequently, till 7433 is detained we shall uphold our short-term bias up.

The thrust pointer has gone in sell sort with a negative divergence on the daily chart and that’s quite a negative sign for the bulls

In the daily chart the index is trading above the Twenty-day moving average (DMA) and the Forty-DMA, ie 7480 and 7271 respectively. The thrust indicator is trading in negative sort on the daily chart

In the hourly chart, the Nse Nifty is trading below the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 7554 and 7555 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned negative.

The market duration was turned negative with 601 advances and 975 declines, Unchanged 32 Total Issue 1608 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 7570-7609-7647

Nifty Future Major Support on Downside is at 7502-7473-7434

Trend Deciding Level at 7541

Bank Nifty Major Resistance on Upside at 15201-15336-15470

Bank Nifty Major Support on Downside at 14974-14882-14747

Trend Deciding Level is at 15109

5 Daily Moving Average @ 7555

50 Daily Moving Average @ 7131

200 Daily Moving Average @ 6399

5 Days Relative Strength Index @ 40 and 49 Days Relative Strength Index @ 59 INDICATES NIFTY PLACED IN BULLISH ZONE, WITH BEARISH MOMENT.

Futures Trading Tips

Buy Nifty Fut Jun Intraday above 7555 sl 7530 Tgt 7575-7600 {Or} Sell Below 7505 sl 7530 Tgt 7485-7460

Buy Bank Nifty Fut Jun Intraday above 15115 sl 15065 Tgt 15165-15215 {Or} Sell Below 15015 sl 15065 Tgt 14965-14915

Pick Of the Week

Buy Unitech Cash above 34 sl 29 Tgt 37-41

Buy Tata Elexsi Cash above 578 sl 535 Tgt 625-675

Fundamental Pick

Buy Viaka Ind above 126 Add More on Dips at 110 For Short Term Target 168 For Long Term Target 220-240.

Summary: Visaka Industries is the second largest cement sheet manufacturer in India and manufactures corrugated cement fiber sheets. Buy and hold the stock keep accumulating the dividend and interim dividends

Curious Fact

Your skin has more organisms living on it than there are people living on Earth. In fact, the human body itself is like a planet.

Article Source: http://www.charanwings.com/blog/post/Bulls-Plus-Bears-Bolt-Horns-and-Futures-Trading-Tips

Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com

Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com

Author Bio: Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com

Category: Finances
Keywords: Intraday Tips,Stock Market Tips,Stock Trading Tips,Futures Trading Tips,Options Trading Tips