Wednesday, May 11, 2016

Nifty Analysis for 11 May


Ammendments in India’s Tax treaty with Mauritius is causing panic in markets. As a result, SGX Nifty is down by almost 125 points. Indian Markets expected to open gap down.

This is how one can trade Nifty for the day.

A volatile day may not allow Nifty to be traded easily for the day.
Wait patiently for initial hours, let the markes give us clear indication. If the volatility continues, avoid trading for the day.

I expect gap down to be in the range of 7777-7718. This is a large Demand area on Nifty. Opening in this area can see some buying by the bulls.

If you are aggressive trader – buy Nifty on gap down near zone as mentioned above for target of 7815.



Nifty 15 min Chart

 



Swing/positional trades for the day:
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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