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. Click here to read Nifty view for the week. 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.

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