Monday, May 21, 2012

INTRADAY STOCK TIPS || NIFTY TREND 22 May

It was a quiet end to a choppy session despite a strong opening since the market gave up all its gains as trade progressed amid negative global cues and weakness in Indian rupee. IT came in for a bit of short-selling but capital goods, banks and realty were positive. Sensex shut shop at 16183, up 30 points and Nifty at 4906, up 14 points from the previous close. CNX Midcap index was up 0.5% and BSE Smallcap index was up 1%. The market breadth was positive with advances at 925 against declines of 492 on the NSE. Top Nifty gainers were Tata Power, Bank of Baroda and Reliance Infrastructure while losers included Wipro, ITC and Infosys. 

RUPEE OUTLOOK :- The Indian rupee was moving towards all-time low of 54.89 a dollar. It depreciated by 43 paise or 0.78% to 54.85 a dollar, at the time of closing of Indian equities. European markets too came off day's high amid endless worries over Greece. Investors remained wary over the euro zone despite world leaders pledging calling for Greece to stay in the monetary union and for Europe to balance austerity with growth. 

STOCK RECOMMENDATIONS FOR TOMORROW 22 May 

1. BUY Reliance Capital Ltd. Intraday Target 315 Stop Loss 310
2. BUY Berger Paints (India) Ltd. Intraday Target 127 Stop Loss 121

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