INTRADAY STOCK TIPS FOR TODAY: Nifty Market Trend and Intraday Tips

Wednesday, July 18, 2012

Nifty Market Trend and Intraday Tips

Nifty market trend today :- Index is expected to open soft on Wednesday tracking mixed Asian markets while investors will keep a close eye onBajaj Auto Ltd ahead of its quarterly results. Nifty is now expected to head lower till 5166 with resistance around 5222 in the short term. A key support in the immediate run would be around 5166.

Intraday Tips For Today :- McLeod Russel India Ltd is a 'BUY' call with a target of Rs 332 and a stop loss of Rs 314 .

Reliance Infrastructure India Ltd is a 'SELL' call with a target of Rs 495 and a stop loss of Rs 530.

Adani Power Ltd is a 'SELL' call with a target of Rs 42 and a stop loss of Rs 48.

HPCL is a 'BUY' call with a target of Rs 365 and a stop loss of Rs 340.

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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."