Nifty weekly Outlook: Market Updates (22-26 August 2011)

The CNX IT Index closed at 5113.85 with the loss of 302.40 points or -5.58%. The CNX IT Aug future finally settles at 316.90 pts or 5.84% lower at 5113.15 and decreased 300 shares in the open interest. The CNX IT future premium turned to a discount of 0.70 from premium of 13.80 earlier, whereas cost of carry is -0.83 vs.

7.15. CNX IT future has closed at 5113.15 and now next logical resistance is at 5445 and 5620 levels, and good support near 5000 and 4825 levels.

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Intraday Tips for Today - 14 June 2011

Buy Reliance Industries above 937 for the targets of 949-958-965 Stop-loss 916

below 909 go for sell .

Buy MAX India Ltd if opens above 183.60 for the targets of 185-187-189 stoploss 177.50

or buy above 185.50 for the targets of 187.00-189

Below 174.50 go for sell targets 171.70-170.00

Buy Punj Llyod above 71.40 for the targets of 73.10-75.00 Stoploss-69.00

below 68.8 go for sell, targets 66.80-64.70

Sell Aban Offshore Ltd. below 549.80 targets- Targte-543.60-539.00 Stop-loss-556.40

else Buy Above 557.10 targets -563.20-567.00 

Nifty Futures-

Buy Nifty Futures above 5518 for the target of 5545-5565-80 Stoploss-5478

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