Nifty Analysis for 25 May

We have been talking about Nifty being near its support. Today SGX Nifty is sugesting a gap up in Nifty. Nifty is expected to open near its intraday reistance at 7789-7804 area. If opens in this area, immediate selling can be seen till the levels of 7765. This is a buying opportunity. If Nifty moves above resistance 7804 after opening, a buy on breakout can be done, though little risky. Maintain strict stoploss in this case. Short selling would be difficult today Click here to read Nifty view for the week. Nifty 15 min Chart    Swing/positional trades for the day: Buy M&M Financial Services for target of 315. Stoploss is 295 Buy Godrej Consumer for target of 1430. Stoploss is 1370 Buy Bharatforge for target of 740. Stoploss is 710 Buy Ashok Leyland for target of 106. Stoploss is 99 Buy L&T for target of 1275. Stoploss is 1220   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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