Nifty banknifty and ZEEL trading tips for 5/12/2014
Nifty future today closed at 8605 with gains of 27 points. In intraday nifty hit high at 8628 while low was at 8560. Total almost 70 points range and closed with gains after initial weakness. Here trend and momentum is strong bullish but indicators are topping out. So keep long view but with strict stop loss or keep, trailing stops loss for initial investment. On upside 8660 to 8680 will be target zone. 8550 is stop loss for short-term traders. Option traders can keep accumulating in 8500 call option on decline with strict stop loss.
Banknifty future today closed at 18839 with gains of 107 points. In intraday banknifty, future has hit high at 18865 so my given target of 18850 is achieved. Intraday low was at 18634. Now next target will be 19,100 with stop loss of 18,600. Option traders can keep accumulating in 18500-call option with strict stop loss. From here for banknifty with every upside, risk will continue to build higher and higher as support stop losses getting wider and wider.
For tomorrow traders add Zee Entertainment Enterprises Limited to there watch list. Today zeel stock closed at 376 with loss. For intraday one can buy stock near 370-372 zones with stop loss 365 for target 382 to 385. For short-term traders 350 will be stop loss and 420 will be target here.