Nifty closed above 50 dma support .
FIIs were in buying mode .
Nifty trading in sideways pattern
till the time nifty is trading and staying above 5262( 50 DMA )is indicating that buy on dips ,but be cautious and buy only oversold stocks and book profit at swing highs at time to time .
See bharti we were advising to buy it from 240 ...traded above 252 yesterday and 12 points move within a week is nice gain we feel .
firstname.lastname@example.org (8/30/2012 11:44:50 AM): buy bhartiartl at and above 240 sl 236.80 tgt 243 246
same with SBI ,we were advising to buy SBI @ 1840 -1842 made a high of 1881.75 in cash ...
expecting negative to gap down opening today but traders may be busy in picking oversold stocks therefore flat or positive closing can not be ruled out .
Trade in Nifty according to these levels
Buy at / above: 5276 Targets: 5289 - 5308 - 5326 - 5344
Stoploss : 5256
Sell at / below: 5256 Targets: 5240 - 5222 - 5204 - 5186
Stoploss : 5276
addition in 5200 and 5300 puts is indicating that market participants are planning to take Nifty towards higher side
Trade according to trend and protect ur capital by placing stoploss orders