Thursday, May 6, 2010

Nifty is still making Lower Tops and Lower Bottoms, ownside target of 5000 and below that 4800.

Close below 5100

The benchmark index Nifty closed below the psychological mark of 5100 with a loss of 34 points on daily basis. On the daily chart Nifty is still making Lower Tops and Lower Bottoms, as well as momentum cycle also not showing any strength, thus Nifty is still looking weak and we maintain our downside target of 5000 and below that 4800.

Trading Ideas

  • Remain stock specific from current levels.
  • Mid term trading ideas which we like are Piramal Health (Target Rs578)Suzlon (Target Rs78),MSK Project (Target Rs210) andLIC Housing (Target Rs988). Traders maintain stop loss accordingly.

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Safe Harbor:

The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
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