INTRADAY STOCK TIPS FOR TODAY: Nifty Strategy | Intraday Tips Today 7 May 2012

Monday, May 7, 2012

Nifty Strategy | Intraday Tips Today 7 May 2012

Nifty Strategy For today :- Today Nifty has weak sentiments.If nifty breaches 5146 and stays above at least 5116 with good volume then nifty trend is becoming 'strong' and may see 5176 and 5236.if nifty breaches 5028 and stays below 5058 then nifty trend is to be 'weak'.then expected lower targets are 4985 and 4950.Today the broad range of nifty trading will be 5000-5210.

Intraday Tips Today :- Buy niittech above 260 first target 263 second target 267 stop loss 256.

Sell GRASIM INDUSTRIES below 2414 with stop loss of 2432 for target of 2390.

Sell FINANCIAL TECH. below 612 with stop loss of 626 for target of 600.

Sell PANTALOON RETAIL below 159 with stop loss of 167 for target of 154.

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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."