Monday, April 18, 2016

Nifty Analysis for 18 April 16


Bonvista Financial Planners
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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.

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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Disclaimer: In the interest of our readers and subscribers, recommendations are prepared abiding to our highest standards & principles for providing advisory services. Subscribers understand that trading is inherently risky and can incur substantial losses. Bonvista Financial Planners or its promoters or its employees own no responsibility of the consequences of profit or losses incurred by acting on these recommendations. It is sole discretion of trader/subscriber/reader/user of these services to trade recommendations at his/her own risk

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