Nifty Analysis for 20 May

Yesterday Nifty broke below important support of 7810. This support is expected to act as resistance today. If Nifty bonunces at opening to 7800-7810 levels, expect selling pressures from there. Short selling targets can can be up to next support level at 7740. Nifty chart has a leftover gap at 7740 level. Current setup of uptrend is still intact on daily chart. Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Sell Andhra Bank for target of 47.80. Stoploss is 49.60 Buy Jubilliant Food for target of 1100. Stoploss is 1168 Buy Pidilite for target of 630. Stoploss is 609   Article Godfrey Philips- Trading near multi-year support SBI Chart Analysis- Sell Head & Shoulder breakdown in SBI 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 up 24% from buying price M&M Financial Services up 32% from buying price (Booked)

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