Monday, May 23, 2016

Nifty Analysis for 23 May

 Nifty is trading near support on daily chart.
Lets expect a bounce from current levels to start the day with.
First resistance is at 7777. (This was critical support earlier).

Sell on rise Nifty near 7777.

If Nifty moves down from here it can take first support near 7752 and then at 7710

Markets can be choppy today.

Nifty 15 min Chart

 Swing/positional trades for the day:
Buy UPL for target of 595. Stoploss is 560
Buy Voltas for target of 340. Stoploss is 323
Sell LIC Housing Finance for target of 432. Stoploss is 452


Recent gainers recommended by us
Pidilite Industries breaking out -now up 8% from recommended price (Read Pidilite article written on 3 March)
SKS Micro Finance up 16% from buying price (Read article written on 25 Apr)
Berger Paint up 17% from buying price
M&M Financial Services up 32% from buying price (Booked) (Read article written on 12 April)

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