Intraday Stock Trading

Nifty Today: (4871) Buy on declines considering 4828 a solid support keeping stop loss of 4821. Upward side it'll spurt up to 4898-4908 & thereafter to 4947 & 4988.
Downward side break below 4821 it'll fall down to 4790-4778 on intra day basis.

Our Sharetips Expertconsidering,Last week, although I said the overall trend remains negative, there was a move up to 4,860-4,880. So, I am not surprised by yesterday's move. The way the US markets have been moving that has surprised most of us. In addition to being a global rally, there was a move up on the cards. So, I am not surprised we have come here.

Can we cross 4,860-4,880? There is a possibility. The reason I say that is typically over the last year or so whenever we have had this nice 500-600 points on the Nifty, there has been a lot of bullishness and a lot of buoyancy in the markets where people have called higher levels of market. That is where they have got caught.

But this time around most of the analysts are still talking about 4,100-4,200-4,300 range. So, maybe because so many people are negative, it might stretch more on the upside. Get more people positive. When you hear a lot of voices starting talking about 5,200-5,300, then I think the market tends to surprise on the downside. So, if it crosses 4,880 then the next logical target to watch out for would be about 4,965.