Nifty Tips
Indian Stock market dropped again
today. Realty sector led the market towards downside and Nifty
lost nearly 47 points ahead of F&O expiry tomorrow.
Nifty Futures closed at
5294 at loss of 51 points .After a flat opening nifty showed downside
movement and made a intraday low of 5292.50. It has first resistance
close to the level of 5355 & above this level the next resistance
is seen near the 5385 mark. Immediate support is close to the level
of 5285 & below this level the next support is seen near 5200
mark.
The market is likely to extend the bearish trend tomorrow as well and a consistent trading below 5268 in spot Nifty may lead the market towards 5200 level.
Stocks Analysis-
Infosys can be a good short term pick for near term
traders.
Profits of infosys rose 10.2 per cent to
Rs 208.7 crore in this year's April-June quarter while last
year, the company had a net profit of 189.4 crore during this period.
Sales during the period has increased by 2 per cent to Rs 355
crore.
Fundamentals and
technicals are suggesting a strong buy for this stock for near to
medium term.
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