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Intraday Trading Tips for Today

Nifty ongoing the bullish trend which was in effect from the other day. Lack of ability to trade above the stage of 5140 activated the weak point and marketplaces found it easy to test assistance of 5040 stages. Support was experienced at 5040 stages as a result of positive international hints in worldwide shares. Our market also responded efficiently and Nifty tested the level of 5130 perfectly. Markets shifted back from the levels but were not able to close above the 5140 stage for the week.

Technically the level of 5100 will act as a significant challenge for the market. On the reduced part 5050 will act as a significant assistance for the industry and termination of 5060 may outcome into fast offer off to 4980 lowest and highest possible to 4900 levels. Ending above the stage of 5100 will indicate change in the trend.

Health Care - FMCG: - These are the recommended sector for the long trade in the marketplace with a wider viewpoint. Look for Dr.Reddy’s, Sun Pharmaceutical, ITC, Colgate and Back Unilever for the lengthy business at excellent support.

Metals-Capital Goods-Power : - Assistance purchasing should be seen in the industry shares only at lower levels. Choices are BGR, BHEL, Bhusan Metal and Adani Power.

Auto : - Combined action experienced. Wishes can be designed at significant assistance in Tata Engines, M&M.

Consumer Durables : - Inflow seen during the last couple of sessions. Look for support longs in Titan Inds.

Oil-Gas : - Cairn India remains the preferred buy side stock at good support levels.

Recommendations : - Start lengthy strangle at 5100 call and 5100 put with price of 110 and stop-loss of 50 with target of 160-200.

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