Nifty Analysis for 26 May

Well, Nifty is ready to break that long awaited level of 7940. We can expect Nifty to gap up above 7940 to get into new bullish territory. Next level of resistance is 7990. After long run up markets prefer to rest. Today can be one such day. Nifty can trade in a small range with bullish bias. Buy on dips. No short selling. First support is at 7925. Next is at 7880. Resistance is at 7960 and 7990. Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Buy Syndicate Bank for target of 63. Stoploss is 60 Buy Aurobindo Pharma for target of 760. Stoploss is 730 Sell Crompton Greaves for target of 58.8. Stoploss is 62   Recent gainers recommended by us Pidilite Industries breaking out -now up 12% 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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