Thursday, October 11, 2012

Stock market strategy for today | 12-Oct-2012

1. Nifty: Yesterday, Nifty bounced back to 5741. But still trading below major resistance level of 5766. Take your long positions above this level but with stop-loss of 5766.

2. Tata Steel: Continue long positions in Tata Steel. Exit if it closes below 408.71. Resistance and target is 438.

3. Wipro: It is in downtrend after breaking crucial support level of 372. Avoid it for the time being.

4. State Bank of India: Take long position only above 2303.57. Next resistance is at 2382

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