Nifty Analysis for 18 May

Nifty Analysis for 18 May Yesterday’s Invereted Hammer on daily chart is suggesting negative sentiments for the time being. For the day Nifty may trade with bearish bias. A gap down as suggested by SGX Nifty near 7860 may see some short covering.  As a result, Nifty can move up to its first resistance near 7890 to move down from there. Alternatively Nifty can break below 7855 level immediately after opening to see further downside of around 30 points to its next support at 7830. Next support is near 7815. Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Buy BPCL for target of 964. Stoploss is 930 Sell Glenmark for target of 846. Stoploss is 878 Buy IGL for target of 605. Stoploss is 579 SBI Chart Analysis- Sell Head & Shoulder breakdown in SBI Recent gainers recommended by us SKS Micro Finance up 18% from buying price Berger Paint up23% from buying price M&M Financial Services up 32% from buying price (Booked)

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