Nifty Trading Tips & Outlook Today ( May 23 2012, Wednesday )

We have seen lot of action in US markets yesterday and finally it ended flat after a last minute sell off. Greece deadlock might keep testing market resilience today. Although, US Economic data improved, markets haven't cheered them. Facebook share loose another 10 % and close just above $30. It won't be easy for markets to bounce back, although its already over sold. Europe is holding a key. We would remain mildly positive due to technicals as S&P is back above 1300.

Nifty Trading Tips & Outlook Today:

Yesterday, we recommended a Sell on Rise strategy on Nifty and Nifty retreated after morning bounce( From 4940 to 4860 ). While most of the analysts were expecting a bounce on Nifty to above 5000 levels. Today we expect a quiet session with a mild positivity on Nifty, Small buy positions at lower levels ( around 4820-4830 Spot ) might help. The main reason for weakness is Government policies and Rupee weakness. Some were expecting that UPA II government might fall soon and early Lok Sabha polls eyed.

Check out our previous Recommendation Here
Tags: , ,

About author

Make it happen !!


Leave a Reply