Monday, May 2, 2016

Nifty Analysis for 2 May


Nifty is expected to open in red today.
There is a support on Nifty chart near 7800. So if Nifty gaps down by 50 odd points, it can move up to test levels near 7850 in early hours of trade.

For Nifty to sustain its upward momentum, it needs to cross hurdle of 7865. This seems to be difficult for the day.

One can sell Nifty if it moves up near 7850 for a target of 7800. Bigger selling opportunity is if Nifty breaks below 7788. In that case it can target of 7720.


Nifty 60 min Chart

 


Swing/positional trades for the day:
Sell Bajaj Finance for a target of 6650, stoploss 7050
Sell Granules for a target of 129.50, stoploss 139
Buy Petronet for a target of 272, stoploss 258
Recent gainers recommended by us
Adani Ports up 9.5% from buying price
Berger Paint up 11% from buying
M&M Financial Services up 32% from buying price (Booked)
SKS Micro Finance up 11% from buying price.

Training:
Learn before you trade/invest on your own. A must for every trader.

1. Training on Stock Markets & Technical Analysis
Online Batch via Webinar Mode starting on 2 May.
6-8 pm
Fee: 4500/-