Nifty Intraday Outlook For Friday 02-Sept

Nifty showed good strength for second consecutive day and closed in green crossing important psychological level of 5,000 with higher volumes. Positive cues from European markets pulled Indian markets. Bulls are having control at the moment. Buying interest may be continuing above 4,980 levels.

For intraday trading, trend deciding level is 4,980-5,000. If Nifty shows strength above these levels, then rally to 5,050-5,100-5,165 may be seen. On the downside if Nifty does not how strength above 4,980 levels then selling pressure till 4,930-4,875-4,820 may also be seen.

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Intraday Stock Tips For Tomorrow 30-Aug

Coal India Ltd.
Buy above 370 for target of Rs 375-378-381.30 with placing a stop loss of Rs 364.50.

ABG Shipyard Ltd.
Buy above 375 for target of Rs 379-382-385+ with placing a stop loss of Rs 370.

Exide Industries Ltd.
Buy above 150 for target of Rs 152.70-154.50-156 with placing a stop loss of Rs 146.60.

Jindal Steel & Power Ltd.
Buy above 495.40 for target of Rs 501-505-518 with placing a stop loss of Rs 489.

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Market Trend For Tomorrow 30-Aug

It was a cheerful start for the Indian stock markets. Both benchmark indices (Nifty and Sensex) opened gap up on positive global cues and witnessed early gains for the whole session. Nifty managed to close above a crucial psychological level of 4900 which indicates that market bulls trend in coming sessions.

For intraday trading tomorrow, 4865 is the immediate support for Nifty and if this is broken, next support is seen at 4830-4800. On the upside, 4955 is the immediate resistance for Nifty and any gains above these levels are likely to face strong resistance at 5000-5050.

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Intraday Stock Tips For Monday 29-Aug

Mahindra & Mahindra Ltd.
Buy above 710 for target of Rs 718-725-730 with placing a stop loss of Rs 701.

Apollo Tyres Ltd.
Buy above 55 for target of Rs 56.40-57.25-58 with placing a stop loss of Rs 53.

Jindal Poly Films Ltd.
Sell below 202 for target of Rs 199-197-195.30 with placing a stop loss of Rs 206.

Cairn India Ltd.
Sell below 250 for target of Rs 246-243.60-240 with placing a stop loss of Rs 255.

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Nifty Intraday Outlook For Monday 29-Aug

Nifty has tested the lower support level of 4,720-4,700. The intermediate term trend continues to be bearish. The volatility in the Indian markets would continue to stay as inflation still remain high and is even likely to surprise on a higher side and there is a fear that RBI would continue with its monetary stance. As well as global developments may continue to cast a shadow on the stock market.

 For intraday trading on Monday, 4700 is the immediate support for Nifty and if this is broken, next support may be seen at 4665-4620. On higher levels, 4780 may act as the immediate resistance for Nifty and any trades above these levels are likely to face stiff resistance at 4830-4875.

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