NIFTY LEVELS TODAY 5th May

Nifty was on bear trend last day and closed at 5537.

The Nifty futures closed and settled finally at 5536, down by -32.70 or -0.59 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5510 else above resistance level of 5595 it would be in an upward trend.

NIFTY is taking support near 5500 but global markets have started to fall, so watch Asian markets in the morning for an early clue of Thursday trade.

Many good stocks are available at cheaper rates and ONGC, SBI , TATA STEEL look good for quick gains.

RESISTANCE: It has first resistance close to the level of 5595 & above this level the next resistance is seen near the 5726 mark.

SUPPORT: It has first support close to the level of 5510 & below this level the next support is seen near 5415 mark.

NIFTY TREND

NIFTY TREND HIGH;Can test 5950-6000

Strategy :
Buy Nifty 5900 Call and Sell 6100 Call both for the April series for 100 and 25, respectively.
Sell May 5500 Put for 40. This would mean that the costing for the strategy would be 35 and maximum profit would be 165.

This is with a view that Nifty would remain positive heading towards the 6100 mark this expiry. We have sold 5500 Put, as 5750 is likely to act as a strong support. 

Stock Ideas: 
1. BUY OnMobile Comm
    SL   :- 260
    TGT :- 300


2. BUY Patel Engineering
    SL   :- 172
    TGT :- 200


3. BUY DLF

    SL   :- 245

    TGT :- 275

NIFTY INTRADAY TIPS TODAY 13th April

Yesterday i.e. on 12th april, the C&P Nifty closed almost at the day's low. The Nifty Futures closed at 5798 showing a downfall of 56.90 points or almost 1%. The market seems to be bearish in near term and if Nifty trades below 5785 Level it could see some more downfall. Above the level of 5850, upward rally could be seen.

NIFTY SUPPORT & RESISTANCE LEVELS FOR TODAY :-

Resistance: Resistance levels are 5850-5935.

Support: Support Levels are 5785-5760.