Tuesday, May 10, 2016

Nifty analysis for 10 May

Nifty Analysis for 10 May

Hope you  would have made good money on long call yesterday. For the day buy on dip (stay long) continues. However we may not get same momentum as that of yesterday. Bulls may prefer to take some rest before starting for the next rally again.

It is difficult to trade short trades in this type of market, unless some unexpected bad event comes in.

Stay long- buy near 7840-7850 levels for target of 7900 in couple of days.

If  Nifty breaks below 7830, it can move down to 7780. This down move will offer us more buying opportunities.


Nifty 15 min Chart

 
 Swing/positional trades for the day:
Buy SRF for a target of 1460, stoploss 1385
Buy Axis Bank for a target of 500, stoploss 460
Sell Ceat Ltd for a target of 995, stoploss 1050
Recent gainers recommended by us
SKS Micro Finance up 12% from buying price
Berger Paint up12% from buying
M&M Financial Services up 32% from buying price (Booked)


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