Thursday, April 19, 2012

Trading Strategies For 20th April 2012

The Nifty has a continuous run up since Jan 2012. The markets seem to be positive after the Rate cut announced by the RBI .

With Spot Nifty trading at 5332 we expect Nifty to touch 5446 a continuation of a bull run will be confirmed once nifty closes above 5446 , Resistance Lies at 5500 , a break above 5510 will lead the Nifty towards 5700 and 6100, Therefore levels to keep a track of is 5500 and 5100 .
However, a Break below 5100 will drag the Nifty towards 4900.



Stocks to purchase are

  • Noida Toll with Targets of Rs.27 and a SL of Rs.22
  • Bharti Airtel with targets of Rs.329 and maintaining an SL of RS.320 CMP is Rs.323
  • IDFC with target of RS.145 while maintaining an SL of Rs.129
  • Escorts LTD is a good Buy once Crosses Rs.81 , with targets of Rs.85 once Crosses Rs.81 you can place an SL of Rs.79 and hold long positions 
  • Reliance Communications is a good buy with targets of Rs.95

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