Nifty Trading Tips & Outlook Today ( May 29 2012 )

US markets were close yesterday due to the memorial day. European markets were closed flat as gains were offset by a news of higher borrowing cost of Spain at latest bond auction. Meanwhile Greece bans were recapitalize by fresh liquidity. Which might give a sentiment boost to markets today, but ultimately election results that matters for Greece to stay in euro or exit.

Nifty Trading Tips & Outlook Today

We have recommended a small buy positions at 4830 levels few days ago and squared off the positions yesterday around 4980 ( spot ). We will remain on buy side and continue buy on dips strategy until Nifty breaks 4800 decisively. Traders might get bullish call for short term and use buy on dips strategy. The upside is capped at 5050 and downside is at 4850 for the week. Trade accordingly.

Check out our previous recommendations here
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