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.

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