Nifty Updates ~ Intraday Stock Tips for Monday 02 April 2012

Overall we expect markets to trade in broad range of 5,000-5,400 for this series but will negative biasness. Any short covering rally till 5,350-5,380 should be used as selling opportunity with targets of 5,150-5,050 levels in short term. The renewed buying interest can take nifty to 5,470 levels in the coming days. On the downside, 5,130 continues to be a support.

1. State Bank of India (SBI)

Buy March Futures in the range of Rs 2,063-2,065 for the target price of Rs 2,092 - 2,120 with a stop loss placed at Rs 2,039.

2. Oil & Natural Gas Corporation (ONGC)

Sell March Futures in the range of Rs 262.90-263.20 for the target price of Rs 257 - 252 with a stop loss placed at Rs 266.20.

3. Jindal Steel & Power (JSPL)

Sell around of Rs 558 for the target price of Rs 520 with a stop loss placed at Rs 574.

4. Bharti Airtel

Buy around of Rs 334 for the target price of Rs 352 with a stop loss placed at Rs 326.

5. Divi`s Laboratories

Buy April Futures in the range of Rs 760-765 for the target price of Rs 790 with a stop loss placed at Rs 744.

6. Grasim Industries

Sell April Futures below Rs 2,630 for the target price of Rs 2,530 with a stop loss placed at Rs 2,680.

7. Neutral Reliance Industries with a price target of Rs 800 as against the current market price (CMP) of Rs 726.