Nifty has reached a crucial level, The Stochastic has reached oversold level & the fast line is above slow line signalling upward move. We can try going long at this price of 5255 but we can have committed move above 5307.
Stocks to bet will be NELCO, Unitech, M&M, RPower & Essar Oil. We may hedge it with short position in ZEE below 293/-
The SL for Nity would be 5235
Today 50-share NSE Nifty also gained 28.15 points, or 0.37 percent, to 7,639.50.
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