INTRADAY STOCK TIPS FOR TODAY: Nifty Trend Tomorrow

Monday, April 30, 2012

Nifty Trend Tomorrow | Intraday Tips 2 May 2012

Nifty Trend :- Nifty had the volatile to positive trading session and had the closing with green note at 17319, up 131 points.Nifty extended its gains as the session progressed. Initial gains were witnessed in IT stocks as almost all the counters attracted buying interest. Nifty touched intraday high of 5,262.15 during the early afternoon session.Due to having the Labour day and Maharashtra day market would be close on 1 may and will open on 2 may and on 2 may wednesday Nifty has the positive sentiments.

Nifty Levels - support - 5234/5172 Resistance - 5296/ 5358 pivot levels – 5261

Intraday calls for tomorrow 2 May - Buy BAJAJHIND above 30.35 stop loss below 28.50 for target of 32.50-34.

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CapitalVia Global Research Head of Research Vivek Gupta said: "The good thing to cheer for the investors is that now they own a stake in the company which is much more clean in all the aspects and is amongst the top-five IT companies." Via moneycontrol.com Commenting on the outlook, the broking firm CapitalVia Global Research said, "Next week, if gold sustains above the level of 26,430 then by breaking the level of 26,890, it may touch the level of 27,250. But if it fails to sustain above 26,430 then may touch the level of then it may test the level of 25,311/25,200. For silver 42,800 may act as good resistance. For the next week, traders can sell on higher level strategy, if MCX Silver September futures sustains below 41,080 then it could test the levels of 40,340/ 39,900." Via myiris.com Vivek Gupta, head of research, CapitalVia Global Research said, "Technically, Nifty is likely to consolidate in the upcoming session and remain bullishly poised. Major resistance for upside is 6,080 with the crossing of which 6,150 can be touched. For downside, major support is at the level of 5,850 and 5,750."