Rajesh V recommends to buy BHEL and Aban Offshore. Also Nifty has intraday support at 5400 levels

By: Rajesh V
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Rajesh V: Trade BHEL and Aban Offshore to register gains
Aban Offshore: Quotes, News
BSE 186.70BSE Quote8.25 (4.42%)
NSE 186.75NSE Quote8.7 (4.66%)
Nifty Future (Refer chart - Nifty)

Nifty has intraday support at 5400 levels. Trading above 5440 it will test the level of 5472 / 5492. But only if it closes above 5455, will it is advised to go long.

Bank Nifty Future (Refer chart - Bank Nifty)

Bank Nifty closed positively; if it closes above 10,790 levels is advised to take positional long.

Supports are – 10,670 / 10,640 / 10,600
Resistances – 10,800 / 10,840 / 10,924

Intra day calls

Aban Offshore
Buy above Rs 476.50
Stop loss at Rs 470
Target price of Rs 484

Buy at Rs 1,810
Stop loss at Rs 1,792
Target price of Rs 1,830/1,845

Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in the share broking industry. He is a contributing writer for www.goodreturns.in. You can contact him at rajeshvravanappan@gmail.com

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GoodReturns.in DISCLAIMER: The views expressed in this article are the views of the author and do not reflect the views of our company. GoodReturns.in does not take any responsibility for any losses incurred by investors who take their cues from the above article.

Story first published: Thursday, August 4, 2011, 9:43 [IST]
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