INTRADAY STOCK TIPS FOR TODAY: Nifty Range |Indian intraday tips today 8 may 2012

Tuesday, May 8, 2012

Nifty Range |Indian intraday tips today 8 may 2012

Nifty Range Today :- Today nifty has weak trend.Nifty is going to trade between the broad range of 4940-5215.If Nifty breaches 5190 and stays above at least 5151 with good volume then Nifty trend is becoming 'strong' and may see 5230 and 5270 in coming sessions. If Nifty breaches 5039 and stays below 5077 then nifty trend is to be 'weak'.Then expected lower targets are 5000 and 4920.

Indian Intraday Tips Today :- Buy ARVIND with stop lossof 88 for the target of 96/100

Sell Federlbnk 411-412, with stop loss of 415.50 for Target of 407-404-398.

Buy JSW STEEL above 725 with stop loss of 715 for target of 740.

Buy RUSHIL DECOR above 241.50 with stop loss of 245 for target of 236.

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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."