INTRADAY STOCK TIPS FOR TODAY: Nifty Strategy | Intraday Tips Today 4 May 2012

Friday, May 4, 2012

Nifty Strategy | Intraday Tips Today 4 May 2012

Nifty strategy for today :- Today nifty has weak trend.If NIFTY breaches 5209 and stays above at least 5198 with good volume then NIFTY trend is becoming 'STRONG' and may see 5224 and 5245. If Nifty breaches 5168 and stays below 5179 then NIFTY trend is to be 'WEAK'.Then expected lower targets are 5153 and 5140.

Intraday Tips Today :- Buy GODREJ CP above 569 for target of 575 with stop loss of 559. Buy HUL above 435 for target of 438 with stop loss of 431. Sell itc in opening around 242-243 with stop loss of 246 and target of 238.

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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."