Nifty analysis for 13 April

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Nifty Analysis for 13 April Global and domestic cues are positive for the day. Nifty has this resistance till 7764. Nifty is expected to gap up in the resistance area. A close above 7764 gives us medium term target of 7900. Technically Nifty can struggle to cross 7764, if does not gap up beyond this area. Aggressive traders can sell Nifty on openig if gaps up in 7723-7764 area for a quick short trade with a strict stoploss of 7764. More convincing trade is on long side. Support is at 7700. Use this level to create long. Buy on dip is a trade with more conviction as the cues are postive. Check this chart-

Our earlier recommendation M&M Financial Services bought on 17 March at 231, yesterday broke out, now trading at 259, up 12% from recommended price. New recommendations for the day (Positional Buy): A breakout Stock: Maithan Alloys On daily chart this stock is breaking out with good volumes. Possible targets are 180-200 levels. Monthly Chart enclosed:

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