Jai Ganesha:
Same script, one day up and second down and so market is going no where. Global market are weak early in the day and Indian markets have corrected. Volumes are low as expected because of holidays in global markets. FII's bought 169 crores and DII's bought 238 crores. Rupee closed at 66.32.
Nifty is still in a range with upper ceiling being 7840 and lower being 7750. I feel we may continue to trade in this range. Please stay away from market for positional trades for next one week ideally till new year starts. BankNifty is showing weakness and is also trading in a range. Option data is still showing highest OI in 7500 Puts and 8000 Calls.
For the day I feel 7800 will act as support and 7845 will acts as resistance and so breaching this level will give moves, but I suggest to keep away from market for next few trading days.
Top picks for the day are Arvind,MCX,Ceat,AxisBank,Bharatforge,BEL, Idea, Hexaware,TCS,PNB and HindZinc
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