Buy Nifty future in 4730-4735 range: ICICIdirect.com

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Buy Nifty future in 4730-4735 range: ICICIdirect.com

ICICIdirect.com has come out with its report on Nifty Future, Tata Power, Lupin, Hindustan Zinc and Bharti Airtel

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RELATED NEWS Buy Bank Nifty above 8520; target 8700-8800: ABMoney Fasten your seat belts... Turbulence ahead: ICICIdirect.com Mumbai Real Estate - Policy changes to aid new launches: PL ALSO READ See previous views by ICICIdirect.com See what other Experts & Brokerages are saying about Tata Power See messages about Tata Power Tata Power BSE | NSE 30/05/12 Are Mutual Funds betting on Tata Power? Other Stocks in this news Lupin | Hindustan Zinc | Bharti Airtel |

ICICIdirect.com has come out with its report on Nifty Future, Tata Power , Lupin , Hindustan Zinc and  Bharti Airtel

"protecting candle's low is required to keep the positive options open." Index did attempt protecting the low, yet upsides kept below 16049. While most sectors finished on a flat note along with Sensex, Auto Index gained 1.2%, and Oil&Gas/Realty Index shaved off 1.6% each. The A/D ratio ended flat again. The action formed even smaller Bear candle compared to previous day, which also avoided closing below its low. The 2-day lows of 15800 could, therefore, prove crucial. While selling intensifying below 15800 can take it towards Tuesday's gap-up area, protecting 15800 keeps open the option of faster retracement above 16049.

Nifty Future
Comment : Future premium down from 11 points to 8. Hesitation continues near previous high of 4808. Reverse if fails to reach / sustain beyond 4750-60.
Action : Buy in the range of 4730-4735
Targets : 4760 / 4775 / higher
Stop-loss : 4728

Tata Power
Action : Buy above 94.00
Targets : 96/97/Higher
Stop-loss : 93
Higher top and higher bottom in the daily chart and price above 21 days EMA

Lupin
Comment : Price crossing above 50 days EMA and RSI in buy mode
Action : Buy above 451.50
Targets : 459/462/Higher
Stop-loss : 447.5

Hindustan Zinc
Comment : Taking resistance from 200 days EMA and trendline resistance in the daily chart
Action : Sell below 122
Targets : 119.50/118/Lower
Stop-loss : 123.25

Bharti Airtel
Comment : Trendline support breached in the daily chart and stochastic in sell mode in daily chart
Action : Sell below 345.50
Targets : 339.50/337/Lower
Stop-loss : 348.5

Bodies Corporate holding more than 50% in Indian cos

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To read the full report click on the attachment