Sunday, 10 May 2015

market movement for 11-5-15


27000 is good support and 27500 may be next target but?---- 27000 is now a good support after recovery of Friday as expected and written also by us in these lines on Friday morning. 27500 may be the next target provided 27000 is not broken but trend may be volatile and uncertain thus giving caution for the day traders.
 Markets may open positive for today and mayremain good so long the level of 27000 is seen on the board. Below 27000 it may go down to 26700 also. Over 27150, it remain good for 27500 and above once again.
Trading plan for today-Following action plan may be followed by day traders for today-------
Select PVT BANKING stocks may remain good for day trades in view of high volatility for today
Trade Nifty with stop loss of 8200 for the target of 8290 and above. Sell below 8200 for the target of 8120 and below
PHARMA stocks may provide better opportunity for day traders on both side
Avoid CEMENT stocks for today
 
SAFE STOCK---HDFC BANK
HDFC BANK is ruling around the level of 983 and look to be good for the target of 1010  in any case in due course

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