Nifty: downside 4805 is a good support

Range bound session After trading in a very narrow range, finally Nifty ended the day almost on a flattish note. Both inverse H & S and symmetric triangle are still on the cards and yet to see a breakout. Hourly momentum cycle is virtually flat and signal-less and just resting on the neutral line. On downside 4805 is a good support and on upside 4912 is a good resistance to watch out for.

Trading Ideas Remain stock specific from current levels. Mid term trading ideas which we like are Reliance (Target Rs1,040), Siemens (Target Rs720), Voltas (Target Rs174)and Unitech (Target Rs76). Traders maintain stop loss accordingly. Investment Ideas Jaiprakash Associates (JPA):CMP @ Rs142 (Target Rs185)

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