Wednesday, May 25, 2016

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


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)

Next Batch on

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