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Use DLF and Tata Motors to generate and book intraday profit: Rajesh V

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DLF & Tata Motors will generate intraday profit
DLF: Quotes, News
BSE 238.30BSE Quote1.5 (0.63%)
NSE 237.45NSE Quote0.65 (0.27%)
Tata Motors: Quotes, News
BSE 304.15BSE Quote3.2 (1.05%)
NSE 304.40NSE Quote3 (0.99%)
Nifty Future (Refer to chart - Nifty)
 

Today's important level is 5520, if the index manages to hold above this level then Nifty will test 5570 levels in intraday. Closing above the level of 5505 is good sign for bulls and we can use it, 5505 level, as positional stop loss for our long.

Yesterday the index touched a low of 5488. If this low does not break in this week then it will be strong sign for bull reversal.

Bank Nifty Future (Refer to chart - Bank Nifty)

Nifty Future has bottom level support of 10850, if it holds here we can expect pull back from this level. risky traders can buy at 10850 levels with stop loss of 10790.

supports – 10870 / 10790 / 10740

resistances – 10980 / 11024

Intra day calls

DLF

Sell above Rs 232

Stop loss at Rs 234.20

Target price of Rs 227.50/224

Tata Motors

Buy at Rs 958

Stop loss at Rs 951

Target price of Rs 968/978

Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in the share broking industry. He is a contributing writer for www.money.oneindia.in. You can contact him at rajeshvravanappan@gmail.com

If you would also like to contribute or send us a feedback, then e-mail to money@oneindia.co.in

OneIndia Money DISCLAIMER: The views expressed in this article are the views of the author and do not reflect the views of our company. OneIndia Money does not take any responsibility for any losses incurred by investors who take their cues from the above article.

Story first published: Tuesday, August 2, 2011, 9:26 [IST]
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