Friday, May 8, 2015

Market Commentary for 8 May 15

Nifty tried to hold psychological level of 8000 yesterday. Nifty Technical Chart has formed Doji Pattern yesterday. This is gives us neutral bias. Asian Markets are trading in green.
We are expecting a gap us in Nifty. if this gap up sustains we can expect a momentum bounce from this level.
Traders can look at buying Nifty on dips today.

Picks for the day:
Long: BAJAJAUTO, ITC, JUSTDIAL
Short: RECL

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