Daily News Letter Dated 16th May 2012-Gain from us. Visit: http://www.ibnservice.com/ OR http://ibnservices.blogspot.com/ OR http://nse-bse.blogspot.com/ OR http://mcx-ncdex.blogspot.com/

Daily News Letter

Date: 16 May 2012

NIFTY:

Last Close: 4942.80 (Up 35.00)

Resistance Levels: 5050, 5130, 5250, 5330, 5450

Support Levels: 4900, 4800, 4650, 4550, 4400

SENSEX:

Last Close: 16328.25 (Up 112.41)

Resistance Levels: 16750, 17100, 17400,  17700, 18000

Support Levels: 16100, 15800, 15300, 15000 , 14500

Trader should be cautious at rise today & try to sell at rise to 4960—4980 with stop loss of 5030 for downside toward 4900—4870. Global news can show panic in the market for next few days but one should keep buying at sharp dips for good bounce in coming days.

Hot Sectors Today: R-Group & Bank.

BTST/ STBT in last trade (Fut.):

Idfc (Buy – 117; SL- 115.50; Tgt  Later)

Tatacoffee (Buy – 856; SL- 845; Tgt1-868; Tgt2-876)

SCRIP NAME (CMP)	ENTRY LEVEL	TGT1	TGT2—3	SL	COMMENTS
Hot Today
CANBK (405.15)	Must Buy At 405—396	413	417—421+	390	Good pick among banking sector, keep SL.
JSWSTEEL (652.30)	Sell At 654—666	642	636—630	672	Profit booking will emerge from higher levels.
Derivative- Future (Strategy for today)
ORCHIDCHEM  (129.7)	Must  Buy At  128—125	132	133.5—135	Bel 122	Max Profits: Unlimited	Take a risk & buy at every dip for Tgt 145
ORCHID PE 120 (3.15)	Buy when you buy Fut.	Hedging Position			Max Loss: Rs 6000
BPCL (732.20)	Sell At 735—750	720	713—706	Abv 760	Max Profits: Unlimited	Low risk trading strategy for the day.
BPCL CE 740 (15.25)	Buy when you sell Fut.	Hedging Position			Max Loss: Rs. 5000
Derivative- Option Strategy
RCOM  CE 70 (1.80)	Must Buy At 1.70—1.30	Options Trading strategy with High Risk- High Gain.			Max Profits: Unlimited	Keep stop loss 65 in spot & trade in bulk.
RCOM  PE 65 (1.65)	Sell 2 Lots with CE 70
					Max Loss: Rs. 6000
Investment Pick (Long Term)
GVKPIL (532708) (12.10)	Must Buy At 12—10	20	24—28	One can buy in bulk for medium to long term gains.

Last Trade (15^th May 2012) Performance in all type of equity segment calls: Maximum Profit/Loss: Rs 50650.00Approx.