The last two trading session has been very volatile after the huge spike which was seen in the markets 2 days back. Profit booking at higher levels has started and the markets fluctuates almost close to 600-1000 points. There is also some development at the center regarding the next Govt formation. Mr. Mahmohan Singh has been appointed as the next Prime Minister of the country. Congress now has the support of 322 MPs in the Parliament. The oath taking ceremony will happen on the coming Friday and the new cabinet would be inducted.

We might see some  sort of minor rally on that day too. Coming to the markets, nifty has a good support at 4200 and then at 4110 levels going by technical charts. But a lot needs to be watched before as the markets gained almost 2110 points  in a single day. Analyst are of the view that nifty range for the May series could be in the range of 4200 to 4550 levels.

At any correction, large caps can be accumulated for long term investments.Amid high volatility sensex closed 241 points down at 14,060 levels and nifty closed 48 points down at 4270 levels. Meanwhile the US markets has given up all its gains and is now trading flat. The Asian markets also closed almost flat with 0.5% up and down movements.

Here are some intra day trading tips for May 21st 2009:

Tata Motors

Buy  Above 368 Target 380 ,395 Stop Loss : 352

Sell Below 345 Target 325, 310 Stop Loss 352

Punj Lloyd

Buy  Above 185 Target 193 , 198 Stop Loss :180

Sell Below 170 Target 164,160  Stop Loss176

RNRL

Buy  Above 75 Target 78 ,80 Stop Loss :72

Sell Below 68 Target 65, 63 Stop Loss71

Trade with strict stop loss figures in the above intra day trading tips.

Powered by MightyAdsense

Related posts:

1. Intra Day Trading Tips For Nov 10,2008.
2. Intra Day Trading Tips For Feb 18th.
3. Intra Day Trading Tips For Dec 08,2008.
4. Intra Day Trading Tips For Nov 17,2008.
5. Indian Markets To Open Firm And Intra Day Calls For Jan 27,2009
6. Markets Bounce Back And Cross 9000 Levels In Sensex