Nifty Analysis for 6 May

As I had mentioned, Nifty tried to give a some upside yesterday. Long target given yesterday achieved.   For the day global scenario is not encouraging for bulls. If Nifty breaks below 7697, bulls have reasons to worry. Sellers can take advantage by selling Nifty below 7697. It can give targets of 7620. If Nifty sustains above 7700, one can go long near 7700-7720 for target of 7760. Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Buy Bajaj Finance for a target of 7280, stoploss 7030 Buy L&T for a target of 1320, stoploss 1240 Sell Ultratech Cement for a target of 3050, stoploss 3180 Recent gainers recommended by us SKS Micro Finance up 12% from buying price Berger Paint up12% from buying M&M Financial Services up 32% from buying price (Booked)

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