Saturday, May 26, 2012

Market Trend For Next Week (28 May- 1st June)

The equity market closed flat on the last trading day of the week. It was a choppy rangebound session where nifty closed flat by the of the day. NSE's index, however managed to stay above 4900 level.
The expectation from Friday's market when Nifty rose up significantly due to the hike in petrol prices. Soon vanished with the fact that any meeting on a diesel price hike was differed.

The coming week likley to remain same. The dollar rupee battle could a key factor to decide the market direction. Technically Nifty doesnt seem to be in Bullish run before 5100 level.

For Near term staying above 4950 could bring nifty up. Support for Nifty is seen near 4870-4850.

Stock To Buy-

Buy BPCL for the short term target of 775-790 and keep a strict stoploss of 699


Posted By Commodity MCX Tips