Nifty Trading Strategies & Share Tips for Today

Nifty showed good strength from support near 4950 levels and closed in green above 5,050 levels. Today`s Market action will depend upon RBI policy regarding interest rates and big price swings may be seen. Therefore, traders should be cautious. For daily purpose, trend deciding level is 5,075. If Nifty shows strength above 5,075 levels, then rally to 5,125/5,160/5,200/5,250 may be seen. If Nifty does not show strength above 5,075 levels then selling pressure till 5,040/4,980/4900 may also be seen.

Nifty today closed above the resistance of 5,062 and is having immediate resistance at 5,113 and above it can move towards 5,176 while the support is there at 4,995 and 4,976 levels. Investors must keep a watchful eye on the RBI`s monetary policy decision and if the rate hike is above the expected 25 bps, then we may see rate sensitive sectors taking a dip.

AXISBANK
R2                R1              PP              S1               S2
1158.13    1136.92     1101.78     1080.57      1045.43

DLF
R2                 R1              PP             S1                S2
215.2         211.7         205.85        202.35         196.5

HINDALCO
R2                 R1             PP                S1               S2
149.08       146.67       144.58          142.17      140.08

INFOSIS
R2                  R1              PP                S1             S2
2487.97       2448.93      2389.47      2350.43     2290.97

RELIANCE COMMUNICATION
R2                 R1              PP                 S1              S2
86.9            85.7           83.95             82.75           81