Yesterday Nifty tried to cross crucial resistance of 5280-5290 levels but in the
absence of follow up buying at those levels it tumbled to day's lower levels due to
sustained profit booking at higher levels. Nifty is trading in a range of 5170 to 5310
levels from last two weeks and it seems that market is likely to remain in the same
narrow range. If Nifty sustains below 5200 levels then selling pressure may get
intense in the market. On upside if it sustains above 5280-5300 levels then further
up move towards 5380-5400 levels may seen in the market. In medium term market
trend looks positive till the time Nifty sustains above 5150 levels on closing basis.
INDIA INFOLINE (INDIAINFO)
Execution Price Range Stop Loss Target
Buy Between Rs 136 to 140 134 146
SBIN (STATE BANK)
Execution Price Range Stop Loss Target
Buy Between Rs 2160 to 2180 2153 2205
RELINFRA (RELIANCE INFRASTRUCTURE)
Execution Price Range Stop Loss Target
Buy Between Rs 1120 to 1135 1110 1162
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