Nifty Analysis for 31 May

Nifty is currently trading in bull exhaustion phase. After long rally bulls prefer to rest and markets get into consolidation. On 15 min chart Nifty is seen forming a range. Ranges break on either side. Buying Nifty would be risky at this stage as Nifty is trading near resistance on daily chart. Aggressive traders may look to buy Nifty on breakout beyond 8200. Sell Nifty if it breaks below 8155. This trade can come with good rewards. Supports are near 8080 and 8030 Nifty 15 min Chart    Swing/positional trades for the day: Sell Zee Entertainment for target of 425. Stoploss is 454 Sell Maruti for target of 3970. Stoploss is 4135 Sell HDFC Ltd for a target of 1195. Stoploss is 1260 Buy IDFC for a target of 55. Stoploss is 49.20 Buy Dish TV for a target of 90.5. Stoploss is 85.40 Recent gainers recommended by us Pidilite Industries breaking out -now up 19% 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 23% from buying price M&M Financial Services up 32% from buying price (Booked) (Read article written on 12 April)

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