Nifty Analysis for 18 April 16

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Nifty Analysis for 18 April Last week closed with good gains with Nifty chart forming a bullish green candle. However Nifty is now trading near resistance. Check Nifty veiw for the week here. Nifty is trading in overbough zone. For the day expect Nifty to trade choppy in negative bias. Current location is risky with low risk reward ratio for buying Nifty. Don’t be in a hurry to go long. Aggressive traders can short Nifty near 7850 for 30-40 points intraday target.

Our earlier recommendation M&M Financial Services bought on 17 March at 231, yesterday broke out, now trading at 271, up 17% from recommended price. Hope you are watching Maithan Alloys, I had recommended on 13 Apr. Stock moved up by 7% on 13th. Stock to watch for the day is: ASTEC Lifesciences – moving up with volumes. Possible target are 100 and 108.

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