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Tuesday, November 01, 2011

Trading tip for Nov 1 2011

The nifty were closed at 5326 down 34 points & Sensex at 17705, 100 down on Monday. It was mainly due to the negative performance of global markets after a quite good rally last week.
Oil & gas, Metal, reality, Capital goods, Cement, Health care, were under selling pressure. However HUL, HDFC Bank, Infosys and Hero Motocorp were outperformed.
It is expected to be more volatile in coming days & market may move sideways for next few sessions.

1. Buy Nifty 5334.70 SL 5321.50 Tgt 5349/5353
2. Sell Nifty at 5359.25 TGT 5343/5339 SL 5371.19

Above 5372 Nifty may try to hit 5391. For bears below 5320 it will hit 5303.

1. Sell Reliance at 884.75 TGT 876/874 SL 892

Visit niftywatch.blogspot.com for updates