Thursday, May 19, 2016

Nifty Analysis for 19 May

Nifty Analysis for 19 May

Larger picture: As mentioned in my weekly view Nifty is trading in broad range with bullish bias. We are experiencing buying in Nifty from every dip.

For the day, Nifty is trading near its resistance and can see some pressure from current levels. Support is near 7850 and 7810 level.

If Nifty breaks current resistance at 7895 we may see further upmove till 7930.


Nifty 15 min Chart

 


Swing/positional trades for the day:
Sell ZEE Entertainment for target of 425. Stoploss is 440
Buy Hexaware for target of 226. Stoploss is 212
Buy Union Bank for target of 114. Stoploss is 108
Buy Lupin for target of 1690. Stoploss is 1600

New article Godfrey Philips- Trading near multi-year support

Recent gainers recommended by us
Our Portfolio holding Subros hit upper circuit with 20% gains yesterday.
SKS Micro Finance up 19% from buying price
Berger Paint up24% from buying price
M&M Financial Services up 32% from buying price (Booked)

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