Thursday, August 30, 2012

Nifty Today and Intraday Tips for Tomorrow: 31 August 2012

The market managed to close in positive note and August series of Nifty ended above 5300 level. Nifty closed this series 5% up.
The Nifty closed at 5,320.20, up 32.40 points or 0.61 per cent. It touched a high of 5,342.80 and a low of 5,255.05 in trade today.

Nifty Futures closed at 5315 at gain of 18.40 points . After gap down opening nifty made a low of 5258.70 and covered from lower level . It has first resistance close to the level of 5338 & above this level the next resistance is seen near the 5385 mark. It has first support close to the level of 5278 & below this level the next support is seen near 5250 level.

Intraday Stocks To Pick Tomorrow-

Jaypee Infratech- The stock took a downward momentum after Samajwadi Party government scrapped the contract given to the company for a 30 km-long Agra inner ring road. The shortcovering was seen later and it is expected to rise tomorrow. A buy above 43.30 to target 43.70-44.00 is recommended.

Lupin can be another day trading pick. Buy above 593.00 for the targets of 596-600 level.


Posted By Commodity MCX Tips