Monday, March 23, 2015

Intraday Nifty Tips and Trend For Today 23rd March

Intraday Nifty Tips For Today 23rd March
The 5-6% downside seen in the Indian equity market is not a full fledged correction. In this correction, one could look at buying largecap FMCG stocks and midcap pharma. We are not very optimistic on banking sector but does not advise a sell for those holding them. In case the banks decide to pass on the RBI interest rate cut then they could become a buy.

Nifty Trend Today
We expect Nifty to trade between 8450-8680. Nifty has a support at 8450-8500 spot zone.

Intraday Tips for Today:
  • TCS has taken a support of short term MA. We recommend a buy above Rs 2620 with the stoplos of Rs 2580 for the target of Rs 2680.
  • LIC is looking bearish today, We recommend a sell in LIC Housing (Mar Future) below Rs 455 with the stoploss of Rs 475 for the target of Rs 425.

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