Tuesday, May 3, 2016

Nifty Analysis for 3 May

Nifty Analysis for 3 May
Nifty continues its sluggish movement downwards. Bears are not able to exhibit the force in movement, suggesting us probable buying activity at lower levels by bulls.

Sell Nifty if moves near 7845.

Sell Nifty if breaks below 7788

Buy Nifty if moves down near 7720

Buy Nifty on Breakout beyond 7860


Nifty 15 min Chart




Swing/positional trades for the day:
Buy Nectar Life Sciences for a target of 45, stoploss 37
Sell Bank of India for a target of 87.5, stoploss 92.50
Buy Titan for a target of 376, stoploss 359
Recent gainers recommended by us
Adani Ports up 8.5% from buying price
Berger Paint up 7% from buying
M&M Financial Services up 32% from buying price (Booked)

SKS Micro Finance up 16% from buying price.