Nifty Analysis for 30 May

Nifty is expected to open gap up in a supply (resistance) area. Nifty can experience selling pressure after opening today. Its too late to enter a buy trade in Nifty now. This is how one can trade Nifty today. Wait patiently for Nifty to give clear indication for first 15 min. If Nifty fails to sustain around 8200 levels, then aggressive traders can go short for some quick gains. Alternatively wait patiently for Nifty to come down to its support near 8080 to create long position. Next suuport is near 8030 Nifty 15 min Chart   Swing/positional trades for the day: Sell Tata Chemical for target of 425. Stoploss is 443 Sell Axis Bank for target of 505. Stoploss is 512 Buy Reliance Capital for target of 430. Stoploss is 403   Recent gainers recommended by us Pidilite Industries breaking out -now up 18% from recommended price (Read Pidilite article written on 3 March) SKS Micro Finance up 19% from buying price (Read article written on 25 Apr) Berger Paint up 21% from buying price M&M Financial Services up 32% from buying price (Booked) (Read article written on 12 April)

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