Nifty bounced back from 5250 as expected and posted yesterday, Now for Intraday watchout for 5270/5250 as supports on downside and 5160/5180 as resistances on the upside.

Add budding_entrepreneur1987 yahoo id for intraday support

Stock View: India Glycol

The stock is consolidating after giving a big breakout in first week of april. The stock is facing lot of resistance around 149-150. Buy India Glycols if it sustains or close above 149-150 with a strict stoploss of 140 and look for targets of 157/163/169.

Stock View: Uttamstl

Triangle formation on charts since last three months indicates breakout or breakodown on either side . The stock is looking good above 117.5. Buy Uttam Steel only if it sustains above 117-117.5 with a stoploss of 112 and look for targets of 123/129/135 in short term. Intraday also stock will show momentum above 117.5.

Have a nice trading day

Regards

Ankit