Nifty Outlook:
Nifty is near to major support levels & pullback rally is expected in nifty. On Wednesday after opening at 5344 Nifty closed 46 points down at 5288 near day’s low. Now on lower side Nifty has immediate major support at 5271 levels. Below that 5240 is 50% retracement support of the rally from 5032 to 5448 levels. If it breaks this then 5218 is 60 days moving average support. On upper side 5345 – 5365 – 5385 are 38%, 50% & 62% retracement resistances of the fall from 5448 to 5282 levels.Intraday stock Tips:
SELL UTV Software Communications Ltd.Intraday Target 1063
Stop Loss 1102
BUY Axis Bank Ltd.
Intraday Target 1031
Stop Loss 1001
SELL Goenka Diamond -and- Jewels Ltd.
Intraday Target 201
Stop Loss 219.90
It was flat close on May 3 after benchmark indices gave all its intraday gains in the final hour of trading.
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